PERFORMANCE



The Hypothetical Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.



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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

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.

Ex-Date Payable Date Record Date Total Distribution   Income ST Cap Gains LT Cap Gains Return of Capital

Past distributions are not indicative of future distributions.



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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

Holdings

as of 02-Jul-2015

Ticker Name Weight (%) ISIN Sector Asset Class Country SEDOL Market Value Price Currency Maturity Coupon (%) Duration Notional Value Mod. Duration YTM (%) Yield to Call (%) Yield to Worst (%)
IBCE ISHARESBOND 2023 CORPORATE EX-FINA 5.01 US46432FAN78 ETFs FI United States BBHX569 $3,098,258 96.07 USD - 0.00 6.37 3,098,257.50 - 3.32 - 3.31
BLKFDS BLK CSH FND TREASURY SL AGENCY 2.09 US0669224778 Cash and/or Derivatives MM United States - $1,290,911 1.00 USD - 0.19 0.00 1,290,911.48 - 0.19 - 0.19
BAC BANK OF AMERICA CORP MTN 1.73 US06051GEU94 Financial Institutions FI United States B799RR2 $1,071,277 98.09 USD Jan 11, 2023 3.30 6.52 1,071,276.91 - 3.59 - 3.59
ABBV ABBVIE INC 1.45 US00287YAL39 Industrial FI United States BD035B5 $894,897 96.82 USD Nov 6, 2022 2.90 6.54 894,896.68 - 3.39 - 3.39
CMCSA NBCUNIVERSAL MEDIA LLC 1.43 US63946BAH33 Industrial FI United States B86PMS6 $881,844 96.65 USD Jan 15, 2023 2.88 6.64 881,844.21 - 3.38 - 3.38
MS MORGAN STANLEY 1.33 US61746BDJ26 Financial Institutions FI United States B98DXJ3 $819,981 101.17 USD Feb 25, 2023 3.75 6.56 819,981.10 - 3.57 - 3.57
GE GENERAL ELECTRIC CAPITAL CORP MTN 1.31 US36962G6S82 Financial Institutions FI United States B85PGG3 $808,062 99.52 USD Jan 9, 2023 3.10 6.58 808,061.88 - 3.17 - 3.17
JPM JPMORGAN CHASE & CO 1.29 US46625HJH49 Financial Institutions FI United States B9288H7 $795,198 98.00 USD Jan 25, 2023 3.20 6.59 795,197.83 - 3.50 - 3.50
GSK GLAXOSMITHKLINE CAPITAL PLC 1.28 US377373AD71 Industrial FI United Kingdom B84G0G5 $793,947 98.82 USD May 8, 2022 2.85 6.17 793,946.61 - 3.04 - 3.04
ORCL ORACLE CORPORATION 1.28 US68389XAP06 Industrial FI United States B84CSM5 $793,417 96.22 USD Oct 15, 2022 2.50 6.58 793,416.57 - 3.08 - 3.08
Ticker Name ISIN SEDOL Weight (%) Sector Asset Class Country Market Value Price Coupon (%) Asset Class Maturity Currency Duration Mod. Duration YTM (%) Notional Value Yield to Call (%) Yield to Worst (%)
Ticker Name Sector Asset Class Weight (%) Country ISIN Market Value SEDOL Price Currency Maturity Coupon (%) Duration Mod. Duration Notional Value YTM (%) Yield to Call (%) Yield to Worst (%)
Holdings are subject to change.

Exposure Breakdowns

as of 02-Jul-2015

% of Market Value

Industrial

64.25%

Financial Institutions

25.02%

ETFs

5.01%

Utility

4.44%

Cash and/or Derivatives

1.28%

as of 02-Jul-2015

  • 75
  • 60
  • 45
  • 30
  • 15
  • 0

1.28

0.64

22.70

75.38

  • Cash and/or Derivatives

  • 2 - 3 Years

  • 5 - 7 Years

  • 7 - 10 Years

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 02-Jul-2015

% of Market Value

Cash and/or Derivatives

1.28%

AAA Rated

0.47%

AA Rated

6.48%

A Rated

43.78%

BBB Rated

47.99%

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.

KEY FACTS

Net Assets

as of 02-Jul-2015

$61,809,300
Asset Class Fixed Income
Exchange NYSE Arca
Benchmark Index Barclays 2023 Maturity Corporate Index
Index Ticker BI23TRUU
Inception Date Jul 9, 2013

Fund Credit Rating - S&P   BBB+f

Shares Outstanding 600,000
CUSIP 46432FAZ0
Number of Holdings  

as of 02-Jul-2015

242
Closing Price  

as of 02-Jul-2015

103.46
Mid-Point Price  

as of 02-Jul-2015

103.91
Daily Volume  

as of 02-Jul-2015

436
20 Day Avg. Volume   407
Premium/Discount  

as of 02-Jul-2015

0.87%
Options Available No

FEES as of 31-Oct-2014

Expense Ratio  

0.13%

Fee Waiver  

0.03%

Expense Ratio (including waivers)

0.10%

For more information on S&P fund credit ratings, please click here.

NAIC Designated (Schedule D Eligible)

PORTFOLIO CHARACTERISTICS

Equity Beta  

as of 29-May-2015

-0.06
Standard Deviation (3y)  

as of -

-

Distribution Yield  

as of 01-Jul-2015

3.04%
12m Trailing Yield  

as of 01-Jul-2015

3.14%
30 Day SEC Yield  

as of 01-Jul-2015

3.23%
30 Day SEC Yield Month End  

as of 30-Jun-2015

3.21
Unsubsidized 30-Day SEC Yield  

as of 30-Jun-2015

3.20%

Weighted Avg Coupon  

as of 02-Jul-2015

3.20%
Weighted Avg YTM  

as of 02-Jul-2015

3.49%
Weighted Avg Maturity  

as of 02-Jul-2015

7.13 yrs
Effective Duration  

as of 02-Jul-2015

6.28 yrs
Option Adjusted Spread  

as of 02-Jul-2015

138 bps

This information must be preceded or accompanied by a current prospectus. For standardized performance, please click on the "Returns" tab above.

Estimated Net Acquisition Yield Calculator

Calculate the Estimated Net Acquisition Yield (ENA Yield) based on the projected market purchase price that you input. This estimate also reflects the deduction of the expense ratio (10 basis points).
The NAV (as of 02-Jul-2015) used in the calculation is $103.02. The value you enter should correspond to your estimated market purchase price as of 02-Jul-2015.
Please note that the results generated by the Estimated Net Acquisition Yield Calculator are for illustrative purposes only and are not representative of any specific investment outcome.
The Average Yield to Maturity shown is the weighted average yield to maturity of the individual bonds. During the final year of the fund's life, the underlying bonds will mature and the proceeds will be held in cash equivalents until the liquidation of the fund. The investor's total realized yield to fund maturity will be influenced by the yield earned on these proceeds during the final year. If the future yield on cash equivalents is lower than the current Average Yield to Maturity for the portfolio’s bonds, the realized yield to fund maturity is also expected to be lower and vice versa.
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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments.

Funds that concentrate investments in specific industries, sectors, markets or asset classes may underperform or be more volatile than other industries, sectors, markets or asset classes and than the general securities market.

The iShares® iBonds® ETFs ("Funds") will terminate on or about March 31 of the year in each Fund’s name. An investment in the Fund(s) is not guaranteed, and an investor may experience losses, including near or at the termination date. Unlike a direct investment in a bond that has a level coupon payment and a fixed payment at maturity, the Fund(s) will make distributions of income that vary over time. In the final months of each Fund’s operation, as the bonds it holds mature, its portfolio will transition to cash and cash-like instruments. As a result, its yield will tend to move toward prevailing money market rates, and may be lower than the yields of the bonds previously held by the Fund and lower than prevailing yields in the bond market.

Following the Fund’s termination date, the Fund will distribute substantially all of its net assets, after deduction of any liabilities, to then-current investors without further notice and will no longer be listed or traded. The Funds’ distributions and liquidation proceeds are not predictable at the time of investment and the Funds do not seek to return any predetermined amount.

The rate of Fund distribution payments may adversely affect the tax characterization of an investor’s returns from an investment in the Fund relative to a direct investment in bonds. If the amount an investor receives as liquidation proceeds upon the Fund’s termination is higher or lower than the investor’s cost basis, the investor may experience a gain or loss for tax purposes.

Investment in the iShares® iBonds® Corporate ETFs is subject to the risks of the other funds and ETFs (underlying funds) in which it invests. The iShares® iBonds® Corporate ETFs will incur acquired fund fees and expenses associated with its investments the underlying funds and additional fees associated with turnover in the underlying funds that are not included in the acquired fund fees and expenses.

Performance shown reflects fee waivers and/or expense reimbursements by the investment advisor to the fund for some or all of the periods shown. Performance would have been lower without such waivers.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you would receive if you traded shares at other times.

Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Certain sectors and markets perform exceptionally well based on current market conditions and iShares Funds can benefit from that performance. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such results will be repeated.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

Although BlackRock shall obtain data from sources that BlackRock considers reliable, all data contained herein is provided “as is” and BlackRock makes no representation or warranty of any kind, either express or implied, with respect to such data, the timeliness thereof, the results to be obtained by the use thereof or any other matter. BlackRock expressly disclaims any and all implied warranties, including without limitation, warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose.



The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Cohen & Steers Capital Management, Inc., European Public Real Estate Association (“EPRA® ”), FTSE International Limited (“FTSE”), India Index Services & Products Limited, JPMorgan Chase & Co., MSCI Inc., Markit Indices Limited, Morningstar, Inc., The NASDAQ OMX Group, Inc., National Association of Real Estate Investment Trusts (“NAREIT”), New York Stock Exchange, Inc., Russell Investment Group or S&P Dow Jones Indices LLC, nor are they sponsored, endorsed or issued by Barclays Capital Inc. None of these companies make any representation regarding the advisability of investing in the Funds. BlackRock is not affiliated with the companies listed above.

Neither FTSE nor NAREIT makes any warranty regarding the FTSE NAREIT Real Estate 50 Index, FTSE NAREIT All Residential Capped Index or FTSE NAREIT All Mortgage Capped Index; all rights vest in NAREIT. Neither FTSE nor NAREIT makes any warranty regarding the FTSE EPRA/NAREIT Developed Real Estate ex-U.S. Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Global REIT Index or FTSE EPRA/NAREIT Developed Asia Index; all rights vest in FTSE, NAREIT and EPRA.“FTSE®” is a trademark of London Stock Exchange Group companies and is used by FTSE under license.

©2015 BlackRock, Inc. All rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, BUILD ON BLACKROCK, ALADDIN, iSHARES, iBONDS, FACTORSELECT, iTHINKING, iSHARES CONNECT, FUND FRENZY, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, the iShares Core Graphic, CoRI and the CoRI logo are registered and unregistered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other marks are the property of their respective owners.

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