BINC
BlackRock Flexible Income ETF ACTIVE
-
Fees as stated in the prospectus
Expense Ratio: 0.53%
Net Expense Ratio: 0.40%
Overview
Performance
Performance
Growth of Hypothetical $10,000
Distributions
| Record Date | Ex-Date | Payable Date |
|---|
Premium/Discount
-
Returns
| 1y | 3y | 5y | 10y | Incept. | |
|---|---|---|---|---|---|
| Total Return (%) | - | - | - | - | - |
| Market Price (%) | - | - | - | - | - |
| Benchmark (%) | - | - | - | - | - |
| After Tax Pre-Liq. (%) | - | - | - | - | - |
| After Tax Post-Liq. (%) | - | - | - | - | - |
| YTD | 1m | 3m | 6m | 1y | 3y | 5y | 10y | Incept. | |
|---|---|---|---|---|---|---|---|---|---|
| Total Return (%) | 1.12 | 0.93 | 1.12 | 6.85 | - | - | - | - | 8.61 |
| Market Price (%) | 0.96 | 0.92 | 0.96 | 6.73 | - | - | - | - | 8.98 |
| Benchmark (%) | -0.47 | 0.98 | -0.47 | 6.33 | - | - | - | - | 3.65 |
| After Tax Pre-Liq. (%) | 0.88 | 0.75 | 0.88 | 5.73 | - | - | - | - | 6.93 |
| After Tax Post-Liq. (%) | 0.66 | 0.55 | 0.66 | 4.03 | - | - | - | - | 5.05 |
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Total Return (%) | - | - | - | - | - |
| Market Price (%) | - | - | - | - | - |
| Benchmark (%) | - | - | - | - | - |
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Key Facts
Key Facts
Portfolio Characteristics
Portfolio Characteristics
Sustainability Characteristics
Sustainability Characteristics
To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) 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. 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.
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 financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ 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 or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.
Fees
Fees
| Management Fee | 0.50% |
| Acquired Fund Fees and Expenses | 0.03% |
| Other Expenses | 0.00% |
| Expense Ratio | 0.53% |
| Fee Waivers | 0.13% |
| Net Expense Ratio | 0.40% |
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".
Holdings
Holdings
| Issuer | Weight (%) |
|---|---|
| UNIFORM MBS | 5.63 |
| MEXICO (UNITED MEXICAN STATES) (GOVERNMENT) | 2.13 |
| BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT) | 1.91 |
| ISHARES IBOXX DOLLAR HIGH YIELD CORPORATE BOND FUND | 1.09 |
| ISHARES IBOXX INVESTMENT GRADE CORPORATE BOND FUND ETF | 0.94 |
| Issuer | Weight (%) |
|---|---|
| MORGAN STANLEY | 0.78 |
| BANK OF AMERICA CORP | 0.71 |
| COLOMBIA (REPUBLIC OF) | 0.70 |
| GOLDMAN SACHS GROUP INC/THE | 0.68 |
| CCO HOLDINGS LLC | 0.60 |
| Ticker | Name | Type | Sector | Asset Class | Market Value | Weight (%) | Notional Value | Shares | 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 | Strike price |
|---|
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”). Holdings data shown reflects the investment book of record, which may differ from the accounting book of record used for the purposes of determining the Net Assets of the Fund. 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
% of Market Value
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Portfolio Managers
Portfolio Managers
Jacob Caplain, Managing Director, is Head of Strategy for Global Fixed Income multi-sector yield and closed-end funds.
Samir Lakhani, Managing Director, is Co-Head of the Securitized Assets Team within Global Fixed Income. Since 2012, Mr. Lakhani has led the CMBS and Senior CRE Debt business and continues to act as a Lead CMBS / CRE Debt Portfolio Manager in addition to his other responsibilities. Mr. Lakhani is a member of various BlackRock Investment Committees including the Commercial Mortgage Loan Committee within Fixed Income and the Real Estate Debt Investment Committee within BlackRock's Real Assets Group.
Prior to joining BlackRock in 2009, Mr. Lakhani was a Vice President at R3 Capital Partners, where he invested in securitized assets including ABS, CMBS, CLO's and Specialty Finance transactions. Mr. Lakhani held similar roles at Lehman Brothers in their Global Principal Strategies group. Mr. Lakhani joined Lehman Brothers in 2006 initially in Structured Credit Products. Previously, Mr. Lakhani held positions at JP Morgan Partners, in their Private Equity and Mezzanine Debt group, from 2001 to 2004.
Mr. Lakhani served on the Board of Governors for the Commercial Real Estate Finance Council ("CREFC") from 2012 - 2018. Mr. Lakhani earned a B.S. Degree in Economics and a B.S. Degree in Engineering, summa cum laude, from the University of Pennsylvania, and an MBA degree from Harvard Business School.
Charlotte is also a co-author of the Rick Rieder Monthly Markets Call and is a member of the Global Fixed Income team’s ESG Implementation Committee.