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This section includes investor type descriptions for professional clients and market counterparties.
Professional client
A Professional Client is either: (i) a ‘deemed’ professional client; (ii) serviced-based professional client; or (iii) an assessed professional Client
(i) Deemed Professional Client
A person is a “deemed” professional client if the person is:
- a supranational organisation whose members are either countries, central banks or national monetary authorities
• a government, government agency, central bank or other national monetary authority of any country or jurisdiction
• a public authority or state investment body
• an Authorised Market Institution, Regulated Exchange or regulated clearing house
• a Regulated Financial Institution or the management company of a regulated pension fund;
• a Collective Investment Fund or a regulated pension fund;
• a corporate body whose shares are listed or admitted to trading on any exchange of an IOCSO member country
• trustee of a trust which has, or had during the previous 12 months, assets of at least $10 million;
• a Single Family Office licensed under the Single Family Office Regulations
• a person classified as a ‘large undertaking’ who meetstwoof the following criteria (i) a balance sheet total of at least $20 million; (ii) a net annual turnover of at least $40 million or (iii) own funds or called up capital of at least $2 million
(ii) Service-based Professional Clients
A person is a ‘serviced-based’ professional client if
- the services provided to the client is in relation to the provision of credit including arranging and/or advising on credit
• the services provided to the client relates to corporate structuring and financing such as advice relating to an acquisition, disposal, structuring, restructuring, financing or refinancing of a corporation or other legal entity i.e. takeovers, mergers and capital raising
(iii) Assessed-based Professional Clients
Assessed-based professional clients can be either (i) individuals; or (ii) undertakings
Individuals
An individual (and associated joint account holders) would be classified as an ‘assessed-based professional client’ if:
- the individual (and primary account holder, if relevant) has net assets of at least $1 million; and
• the individual is, or has been, an employee of an authorised firm or a regulated financial institution in the past two years; or
• the individual can provide evidence which demonstrates that they have sufficient knowledge and experience of relevant markets, products and associated risks
Where there is a joint account in place, the secondary account holder must obtain confirmation in writing that investment decisions relating to the joint account are made for or on behalf of the secondary account holder
Undertakings
Undertakings, which are generally not individuals, would be classified as ‘assessed-based’ professional clients if it:
- has own funds or called up capital of at least $1 million; and
• can evidence that they have sufficient knowledge and experience of relevant markets, products and associated risks
Market counterparties
A Market Counterparty is any person who is either:
- authorised firm;
• regulated financial institution; or
• professional client
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BINC
iShares Flexible Income Active ETF
-
Fees as stated in the prospectus
Expense Ratio: 0.52%
Net Expense Ratio: 0.40%
Overview
Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.
Important Information: Investors must read the Prospectus for any fund in which they wish to invest. Please contact us at the BlackRock Advisors UK Limited-Dubai Branch for the relevant Prospectus.
Performance
Performance
Chart
Performance chart data not available for display.
Distributions
| Record Date | Ex-Date | Payable Date |
|---|
-
Returns
This chart shows the product's performance as the percentage loss or gain per year over the last 1 years.
During this period performance was achieved under circumstances that no longer apply
*On , the Fund changed its name and/or investment objective and policy.
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Total Return (%) | 6.1 | ||||
| Benchmark (%) | 2.0 |
Missing calendar year returns data
| From 31-Mar-2020 To 31-Mar-2021 |
From 31-Mar-2021 To 31-Mar-2022 |
From 31-Mar-2022 To 31-Mar-2023 |
From 31-Mar-2023 To 31-Mar-2024 |
From 31-Mar-2024 To 31-Mar-2025 |
|
|---|---|---|---|---|---|
|
Total Return (%)
as of 31-Mar-2025 |
- | - | - | - | 6.52 |
|
Benchmark (%)
as of 31-Mar-2025 |
- | - | - | - | 5.24 |
| 1y | 3y | 5y | 10y | Incept. | |
|---|---|---|---|---|---|
| Total Return (%) | 6.52 | - | - | - | 8.10 |
| Benchmark (%) | 5.24 | - | - | - | 4.77 |
Missing average annual returns data
| YTD | 1m | 3m | 6m | 1y | 3y | 5y | 10y | Incept. | |
|---|---|---|---|---|---|---|---|---|---|
| Total Return (%) | 1.56 | -0.39 | 1.56 | 1.49 | 6.52 | - | - | - | 15.69 |
| Benchmark (%) | 2.66 | -0.02 | 2.66 | -0.15 | 5.24 | - | - | - | 9.08 |
Missing cumulative returns data
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.
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.
Key Facts
Key Facts
Net Assets of Fund
as of 24-Apr-2025
USD 8,609,502,094
Exchange
NYSE Arca
Benchmark Index
BBG U.S. Universal Index (USD)
Premium/Discount
as of 24-Apr-2025
0.31%
Volume - 1d
as of 24-Apr-2025
1,387,257.00
Fund Launch Date
19-May-2023
Asset Class
Fixed Income
Distribution Frequency
Monthly
CUSIP
092528603
Portfolio Characteristics
Portfolio Characteristics
Number of Holdings
as of 23-Apr-2025
3098
12 Month Trailing Dividend Distribution Yield
as of 23-Apr-2025
6.52
Weighted Average YTM
as of 23-Apr-2025
6.30%
Weighted Avg Maturity
as of 23-Apr-2025
5.04
Convexity
as of 23-Apr-2025
-0.02
Equity Beta (3y)
as of -
-
Standard Deviation (3y)
as of -
-
Weighted Avg Coupon
as of 23-Apr-2025
5.49
Effective Duration
as of 23-Apr-2025
3.18
Option Adjusted Spread
as of 23-Apr-2025
219.37
Fees
Fees
as of current prospectus
| Management Fee | 0.50 |
| Acquired Fund Fees and Expenses | 0.02 |
| Foreign Taxes and Other Expenses | 0.00 |
| Gross Expense Ratio | 0.52 |
| Fee Waivers | 0.12 |
| Net Expense Ratio | 0.40 |
Ratings
Ratings
Morningstar Medalist Rating
Morningstar has awarded the Fund a Silver medal. (Effective 28-Feb-2025)
Analyst-Driven %
as of 28-Feb-2025
55.00
Data Coverage %
as of 28-Feb-2025
88.00
Registered Locations
Registered Locations
Holdings
Holdings
as of 23-Apr-2025
| Issuer | Weight (%) |
|---|---|
| UNIFORM MBS | 6.64 |
| UNITED STATES TREASURY | 3.57 |
| ISHARES IBOXX DOLLAR HIGH YIELD CORPORATE BOND FUND | 1.11 |
| SPAIN (KINGDOM OF) | 0.90 |
| IRELAND (GOVERNMENT) | 0.82 |
| Issuer | Weight (%) |
|---|---|
| BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT) | 0.47 |
| BARCLAYS PLC | 0.45 |
| SOFTBANK GROUP CORP | 0.45 |
| CCO HOLDINGS LLC | 0.43 |
| ELECTRICITE DE FRANCE SA | 0.40 |
| Issuer Ticker | Name | Type | Sector | Asset Class | Market Value | Weight (%) | Notional Value | Nominal | 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 |
|---|
Detailed Holdings and Analytics contains detailed portfolio holdings information and select analytics.
* Where the fund holds futures or swaps, initial margin is reflected in the Cash Collateral USD UBSFT account. The daily variation margin is included in the fund’s USD Cash, and/or Money Market accounts. Both the USD Cash and Money Market accounts may also hold cash from normal portfolio activities.
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.
“Quantity” represents the number of shares, units or contracts of the corresponding security, as applicable per security type.
The “SYNTH” included in the Holdings table above are swaptions held by the Fund.
Exposure Breakdowns
Exposure Breakdowns
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the location where the issuer of the securities carries out much of their business.
as of 23-Apr-2025
% of Market Value
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.
Allocations are subject to change.
Listings
Listings
| Exchange | Ticker | Currency | Listing Date | SEDOL | Bloomberg Ticker | RIC |
|---|---|---|---|---|---|---|
| NYSE Arca | BINC | USD | 23-May-2023 | - | - | - |
| Santiago Stock Exchange | BINCCL | CLP | 06-May-2024 | BLDCHG4 | BINCCL | BINCCL.SN |
| Santiago Stock Exchange | BINC | USD | 06-May-2024 | BLDCH75 | BINC | BINC.SN |
Portfolio Managers
Portfolio Managers
Jacob Caplain
Co-Head of the Securitised Asset Team
Samir Lakhani, Managing Director, is Co-Head of the Securitized Assets Team in Global Fixed Income.
Dylan Price
Vice President, is a Portfolio Manager in the Office of the CIO of Global Fixed Income
Charlotte Widjaja, Vice President, is a Portfolio Manager in the Office of the CIO of Global Fixed Income, focusing on the asset allocation and portfolio construction of Multi-Sector and Yield-Focused mandates. Charlotte is also a member of the GFI ESG Implementation Committee.
Literature
Literature
Important Information
If the Fund invests in any underlying fund, certain portfolio information, including sustainability characteristics and business-involvement metrics, provided for the Fund may include information (on a look-through basis) of such underlying fund, to the extent available.
Asset-backed securities are subject to credit, interest rate, call, extension, valuation and liquidity risk and are subject to the risk of default on the underlying asset or mortgage, particularly during periods of economic downturn. Small movements in interest rates may quickly and significantly reduce the value of certain ABS.
Collateralized Debt Obligations ("CDOs") carry additional risks including, but not limited to: (i) the possibility that distributions from collateral securities will not be adequate to make interest or other payments; (ii) the risk that the collateral may default or decline in value or be downgraded, if rated by a nationally recognized statistical rating organization; (iii) the Fund may invest in tranches of CDOs that are subordinate to other tranches; (iv) the lack of a readily available secondary market for CDOs.
International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. These risks often are heightened for investments in emerging/developing markets or in concentrations of single countries.
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.
Distribution Yield and 12m Trailing Yield results may have period over period volatility due to factors including tax considerations such as treatment of passive foreign investment companies (PFICs), treatment of defaulted bonds or excise tax requirements; exceptional corporate actions; seasonality of dividends from underlying holdings; significant fluctuations in fund shares outstanding; or fund capital gain distributions.
BlackRock provides compensation in connection with obtaining or using third-party ratings and rankings.
Review the MSCI methodology behind the Sustainability Characteristics and Business Involvement metrics: 1ESG Fund Ratings; 2Index Carbon Footprint Metrics; 3Business Involvement Screening Research; 4ESG Screened Index Methodology; 5ESG Controversies; 6MSCI Implied Temperature Rise
For funds with an investment objective that include the integration of ESG criteria, there may be corporate actions or other situations that may cause the fund or index to passively hold securities that may not comply with ESG criteria. Please refer to the fund’s prospectus for more information. The screening applied by the fund's index provider may include revenue thresholds set by the index provider. The information displayed on this website may not include all of the screens that apply to the relevant index or the relevant fund. These screens are described in more detail in the fund’s prospectus, other fund documents, and the relevant index methodology document.
Certain information contained herein (the “Information”) has been provided by MSCI ESG Research LLC, a RIA under the Investment Advisers Act of 1940, and may include data from its affiliates (including MSCI Inc. and its subsidiaries (“MSCI”)), or third party suppliers (each an “Information Provider”), and it may not be reproduced or redisseminated in whole or in part without prior written permission. The Information has not been submitted to, nor received approval from, the US SEC or any other regulatory body. The Information may not be used to create any derivative works, or in connection with, nor does it constitute, an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. Some funds may be based on or linked to MSCI indexes, and MSCI may be compensated based on the fund’s assets under management or other measures. MSCI has established an information barrier between equity index research and certain Information. None of the Information in and of itself can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. Neither MSCI ESG Research nor any Information Party makes any representations or express or implied warranties (which are expressly disclaimed), nor shall they incur liability for any errors or omissions in the Information, or for any damages related thereto. The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited.
iCRMH0225U/S-4226599
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