Fixed Income

QLTA

iShares Aaa - A Rated Corporate Bond ETF

Overview

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Performance

Performance

Growth of Hypothetical 10,000

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Distributions

Ex-Date Total Distribution Income
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Premium/Discount

  1Y 3Y 5Y 10y Incept.
-0.22 6.64 3.85 - 3.86
Market Price (%) -0.58 6.49 3.69 - 3.83
Benchmark (%) -0.09 6.74 3.98 - 4.04
After Tax Pre-Liq. (%) -1.04 5.51 2.71 - 2.77
After Tax Post-Liq. (%) -0.13 4.62 2.44 - 2.49
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-2.24 -1.07 -0.17 3.01 -0.22 21.26 20.77 - 43.98
Market Price (%) -2.49 -1.35 -0.45 2.60 -0.58 20.75 19.84 - 43.57
Benchmark (%) -2.17 -1.08 -0.15 3.04 -0.09 21.63 21.52 - 46.35
After Tax Pre-Liq. (%) -2.76 -1.14 -0.36 2.60 -1.04 17.45 14.29 - 30.06
After Tax Post-Liq. (%) -1.33 -0.64 -0.10 1.78 -0.13 14.52 12.81 - 26.72
  2016 2017 2018 2019 2020
Total Return (%) 4.24 5.47 -2.30 12.54 9.81
Market Price (%) 4.09 5.70 -2.20 12.56 9.62
Benchmark (%) 4.36 5.63 -2.15 12.64 9.95
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 as of Oct 15, 2021 USD 1,166,173,948
Inception Date Feb 14, 2012
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index Bloomberg Barclays U.S. Corporate Aaa - A Capped Index
Bloomberg Index Ticker BQF1TRUU
Shares Outstanding as of Oct 15, 2021 20,700,000
Number of Holdings as of Oct 14, 2021 2262
Premium/Discount as of Oct 15, 2021 0.08%
CUSIP 46429B291
Closing Market Price as of Oct 15, 2021 56.38
Mid-Point Market Price as of Oct 15, 2021 56.38
Premium/Discount as of Oct 15, 2021 0.08
30 Day Avg. Volume as of Oct 15, 2021 106,920.00
30 Day Median Bid/Ask Spread as of Oct 15, 2021 0.03
Volume - 1d as of Oct 15, 2021 169,307.00

Portfolio Characteristics

Portfolio Characteristics

Equity Beta (3y) as of Sep 30, 2021 0.12
Standard Deviation (3y) as of Sep 30, 2021 5.71%
12m Trailing Yield as of Oct 14, 2021 2.00%
30 Day SEC Yield as of Oct 14, 2021 1.69%
Unsubsidized 30-Day SEC Yield as of Oct 14, 2021 1.69%
Weighted Avg Coupon as of Oct 14, 2021 3.29%
Effective Duration as of Oct 14, 2021 8.41 yrs
Weighted Avg Maturity as of Oct 14, 2021 11.73 yrs
Convexity as of Oct 14, 2021 1.38
Option Adjusted Spread as of Oct 14, 2021 62
Average Yield to Maturity as of Oct 14, 2021 1.88%

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of Oct 7, 2021 AA
MSCI ESG Quality Score (0-10) as of Oct 7, 2021 7.68
MSCI ESG Quality Score - Peer Percentile as of Oct 7, 2021 86.57
MSCI ESG % Coverage as of Oct 7, 2021 98.34
Fund Lipper Global Classification as of Oct 7, 2021 Bond USD Corporates
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Oct 7, 2021 241.14
Funds in Peer Group as of Oct 7, 2021 283
All data is from MSCI ESG Fund Ratings as of Oct 7, 2021, based on holdings as of Aug 31, 2021. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered 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.

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, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. 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 Oct 14, 2021 0.80%
MSCI - UN Global Compact Violators as of Oct 14, 2021 1.53%
MSCI - Nuclear Weapons as of Oct 14, 2021 0.43%
MSCI - Thermal Coal as of Oct 14, 2021 0.00%
MSCI - Civilian Firearms as of Oct 14, 2021 0.00%
MSCI - Oil Sands as of Oct 14, 2021 0.00%
MSCI - Tobacco as of Oct 14, 2021 0.76%

Business Involvement Coverage as of Oct 14, 2021 94.18%
Percentage of Fund not covered as of Oct 14, 2021 5.82%
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 0.26% and for Oil Sands 5.88%.

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 0.15
Acquired Fund Fees and Expenses 0.00
Foreign Taxes and Other Expenses 0.00
Expense Ratio 0.15

Holdings

Holdings

as of Oct 14, 2021
Issuer Weight (%)
MORGAN STANLEY 3.24
APPLE INC 3.09
JPMORGAN CHASE & CO 3.03
COMCAST CORPORATION 2.90
GOLDMAN SACHS GROUP INC/THE 2.78
Issuer Weight (%)
BANK OF AMERICA CORP 2.74
WELLS FARGO & COMPANY 2.73
CITIGROUP INC 2.52
MICROSOFT CORPORATION 1.77
UNITEDHEALTH GROUP INC 1.75
as of Oct 14, 2021
ISIN Name Sector SEDOL Market Value Weight (%) Price Maturity Coupon (%) Duration Notional Value YTM (%) Yield to Call (%) Yield to Worst (%) Par Value
Name Asset Class Weight (%) Price Market Value Notional Value Sector SEDOL ISIN Coupon (%) Maturity YTM (%) Yield to Call (%) Yield to Worst (%) Duration Par Value
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 Oct 14, 2021

% of Market Value

Type Fund
as of Oct 14, 2021

% 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 Oct 14, 2021

% 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.

Oct 15, 2021
Price 56.38
2.49
Modified Duration 8.91

Spread of ACF Yield (2.49) over 10.00 yr Treasury Yield (1.52) Oct 15, 2021 is 96.97

Results generated are for illustrative purposes only and are not representative of any specific investments outcome. For standardized performance, please click the ‘returns’ tab above.

Literature

Literature