Fixed Income

CLOA

BlackRock AAA CLO ETF ACTIVE

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Overview

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Performance

Performance

Growth of Hypothetical $10,000

Performance data is not currently available

Distributions

This fund does not have any distributions.

Premium/Discount

Performance data is not currently available
Performance data is not currently available
Performance data is not currently available
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Key Facts

Key Facts

Net Assets of Fund as of Jan 27, 2023 $25,301,832
Fund Inception Jan 10, 2023
Exchange NASDAQ
Asset Class Fixed Income
Benchmark Index JP Morgan CLOIE AAA Index
Shares Outstanding as of Jan 27, 2023 500,000
Distribution Frequency Monthly
Premium/Discount as of Jan 26, 2023 0.00
CUSIP 092528504
Closing Price as of Jan 26, 2023 50.58
30 Day Avg. Volume as of Jan 26, 2023 32,303.00
30 Day Median Bid/Ask Spread as of Jan 26, 2023 0.06%
Daily Volume as of Jan 26, 2023 1,535.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Jan 26, 2023 21
Equity Beta (3y) as of - -
30 Day SEC Yield as of - -
Standard Deviation (3y) as of - -
Weighted Avg Coupon as of Jan 26, 2023 5.96
Weighted Avg Maturity as of Jan 26, 2023 4.08 yrs
Effective Duration as of Jan 26, 2023 0.19 yrs
Option Adjusted Spread as of Jan 26, 2023 146.57 bps
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons as of Jan 26, 2023 0.00%
MSCI - UN Global Compact Violators as of Jan 26, 2023 0.00%
MSCI - Nuclear Weapons as of Jan 26, 2023 0.00%
MSCI - Thermal Coal as of Jan 26, 2023 0.00%
MSCI - Civilian Firearms as of Jan 26, 2023 0.00%
MSCI - Oil Sands as of Jan 26, 2023 0.00%
MSCI - Tobacco as of Jan 26, 2023 0.00%

Business Involvement Coverage as of Jan 26, 2023 1.39%
Percentage of Fund not covered as of Jan 26, 2023 98.61%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.00% and for Oil Sands 0.00%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. Unless otherwise stated in Fund documentation or included within the Fund’s investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager includes ESG considerations in the investment research, portfolio construction, and investment monitoring phases of the investment process. The Fund manager maintains internal ESG scorecards for new primary issuers under consideration for investment and existing issuers of publicly traded securities. These scorecards analyze and track internal and external research views across a range of environmental, social, and governance factors sourced from primary and third party ESG information and research. Portfolio management teams consider the sector and issuer ESG views and scores when selecting individual investments during portfolio construction. ESG factors are debated and considered in investment decisions. The Fund manager also considers ESG criteria during post-investment monitoring and conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks.

Fees

Fees

as of current prospectus
Management Fee 0.20%
Acquired Fund Fees and Expenses 0.00%
Other Expenses 0.00%
Expense Ratio 0.20%

The amounts shown above are as of the current prospectus, but may not include extraordinary expenses incurred by the Fund over the past fiscal year. Amounts are rounded to the nearest basis point, which in some cases may be "0.00".

Ratings

Holdings

Holdings

as of Jan 26, 2023
Issuer Weight (%)
PLMRS_21-4-A 5.96
ELMW5_10-A 5.87
NEUB_19-35A-A1 4.93
NEUB_19-33A-AR 4.91
GSM_21-4A-A1 4.88
Issuer Weight (%)
CIFC_21-7A-A1 4.88
ELMW5_20-2A-AR 4.88
AIG_21-3A-A 4.88
FLAT_21-1A-A1 4.87
ROCKP_21-1A-A 4.66
Name Sector Asset Class Market Value Weight (%) Notional Value Par Value CUSIP ISIN SEDOL Price Location Exchange Currency Duration YTM (%) FX Rate Maturity Coupon (%) Mod. Duration Yield to Call (%) Yield to Worst (%) Real Duration Real YTM (%) Market Currency Accrual Date Effective Date
Holdings are subject to change.

The values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of systematic fair valuation (“the vendor price”). The vendor price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). Additionally, where applicable, foreign currency exchange rates with respect to the portfolio holdings denominated in non-U.S. currencies for the valuation price will be generally determined as of the close of business on the New York Stock Exchange, whereas for the vendor price will be generally determined as of 4 p.m. London. The calculated values may have been different if the valuation price were to have been used to calculate such values. The vendor price is as of the most recent date for which a price is available and may not necessarily be as of the date shown above.

Please see the “Determination of Net Asset Value” section of each Fund’s prospectus for additional information on the Fund’s valuation policies and procedures.

Exposure Breakdowns

Exposure Breakdowns

as of Jan 26, 2023

% of Market Value

Type Fund
as of Jan 26, 2023

% of Market Value

Type Fund
The maturity breakdown above is based on Weighted Average Life (WAL). WAL is the average length of time to the repayment of principal for the securities in the fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date.

as of Jan 26, 2023

% of Market Value

Type Fund
Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security, the lower of the two ratings if only two agencies rate a security, and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.
Allocations are subject to change.

Price Yield Calculator

Price Yield Calculator

The calculator provides clients with an indication of an ETF's yield and duration for a given market price. The ACF Yield is the discount rate that equates the ETF's aggregate cash flows (i.e., the sum of the cash flows of the ETF's holdings) to a given ETF price. The cash flows are based on the yield to worst methodology in which a bond's cash flows are assumed to occur at the call date (if applicable) or maturity, whichever results in the lowest yield for that bond holding. For a given ETF price, this calculator will estimate the corresponding ACF Yield and spread to the relevant government reference security yield. Note that the ACF Yield will differ from the ETF's Weighted Avg YTM. For more information on Aggregate Cash Flow Yield, see info here.

As of 01/26/23
Price $50.58
Modified Duration -

Results generated are for illustrative purposes only and are not representative of any specific investment outcome. For standardized performance, please see the Performance section above.

Portfolio Managers

Portfolio Managers

Owen Butler
Managing Director

Owen Butler, Managing Director, is a member of BlackRock’s Global Credit group.

Peter Hirsh
Director

Peter Hirsh, Director, is a member of BlackRock’s Global Credit group.

Nidhi Patel
Director

Nidhi Patel, Director, is a member of BlackRock’s Global Credit Group.

Literature

Literature

 

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