Fixed Income

BINC

BlackRock Flexible Income ETF ACTIVE

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.

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Performance

Performance

Distributions

Record Date Ex-Date Payable Date
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Returns not available as there is less than one year’s performance data.
Returns not available as there is less than one year’s performance data.
Returns not available as there is less than one year’s performance data.
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 20-Feb-2024 USD 1,604,566,311
Fund Launch Date 19-May-2023
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index BBG U.S. Universal Index (USD)
Distribution Frequency Monthly
Premium/Discount as of 20-Feb-2024 0.46%
CUSIP 092528603
Volume - 1d as of 20-Feb-2024 191,329.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 20-Feb-2024 1898
Equity Beta (3y) as of - -
12 Month Trailing Dividend Distribution Yield as of 11-Sep-2023 -
Standard Deviation (3y) as of - -
Weighted Average YTM as of 20-Feb-2024 6.88%
Weighted Avg Coupon as of 20-Feb-2024 5.02
Weighted Avg Maturity as of 20-Feb-2024 4.93
Effective Duration as of 20-Feb-2024 3.24
Convexity as of 20-Feb-2024 0.01
Option Adjusted Spread as of 20-Feb-2024 192.34

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.

MSCI - Controversial Weapons as of 20-Feb-2024 0.14%
MSCI - UN Global Compact Violators as of 20-Feb-2024 0.04%
MSCI - Nuclear Weapons as of 20-Feb-2024 0.04%
MSCI - Thermal Coal as of 20-Feb-2024 0.04%
MSCI - Civilian Firearms as of 20-Feb-2024 0.07%
MSCI - Oil Sands as of 20-Feb-2024 0.01%
MSCI - Tobacco as of 20-Feb-2024 0.06%

Business Involvement Coverage as of 20-Feb-2024 40.35%
Percentage of Fund not covered as of 20-Feb-2024 59.65%
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 0.04% and for Oil Sands 0.46%.

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.

Fees

Fees

as of current prospectus
Management Fee 0.50
Acquired Fund Fees and Expenses 0.03
Foreign Taxes and Other Expenses 0.00
Gross Expense Ratio 0.53
Fee Waivers 0.13
Net Expense Ratio 0.40

Ratings

Registered Locations

Registered Locations

Holdings

Holdings

as of 20-Feb-2024
Issuer Weight (%)
UNIFORM MBS 4.57
ISHARES IBOXX DOLLAR HIGH YIELD CORPORATE BOND FUND 3.52
ISHARES IBOXX INVESTMENT GRADE CORPORATE BOND FUND ETF 3.05
MEXICO (UNITED MEXICAN STATES) (GOVERNMENT) 1.73
BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT) 1.67
BANK OF AMERICA CORP 0.92
MORGAN STANLEY 0.86
GOLDMAN SACHS GROUP INC/THE 0.78
CCO HOLDINGS LLC 0.63
VOLKSWAGEN LEASING GMBH 0.60
CREDIT AGRICOLE SA 0.60
Name Type Sector Asset Class Market Value Weight (%) Notional Value Par Value CUSIP ISIN SEDOL 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
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.

Exposure Breakdowns

Exposure Breakdowns

as of 20-Feb-2024

% of Market Value

Type Fund
as of 20-Feb-2024

% of Market Value

Type Fund
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 20-Feb-2024

% 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 20-Feb-2024

% 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.

Listings

Listings

Exchange Ticker Currency Listing Date SEDOL Bloomberg Ticker
NYSE Arca BINC USD 23-May-2023 - -

Portfolio Managers

Portfolio Managers

Rick Rieder
Managing Director, CIO of Global Fixed Income

  

Jacob Caplain
Jacob Caplain
Samir Lakhani
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
Dylan Price
Charlotte Widjaja
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