Fixed Income

MEAR

BlackRock Short Maturity Municipal Bond ETF ACTIVE

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 1.26 1.13 - 1.02
Market Price (%) 0.32 1.25 1.13 - 1.03
Benchmark (%) 0.44 1.77 1.40 - 1.19
After Tax Pre-Liq. (%) 0.22 1.26 1.13 - 1.02
After Tax Post-Liq. (%) 0.28 1.22 1.12 - 1.01
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
0.11 -0.06 -0.02 0.00 0.22 3.83 5.76 - 6.94
Market Price (%) 0.09 -0.06 0.00 -0.02 0.32 3.81 5.80 - 6.98
Benchmark (%) 0.31 -0.10 0.00 0.10 0.44 5.40 7.21 - 8.12
After Tax Pre-Liq. (%) 0.11 -0.06 -0.02 0.00 0.22 3.83 5.76 - 6.94
After Tax Post-Liq. (%) 0.16 -0.03 0.02 0.07 0.28 3.70 5.70 - 6.86
  2016 2017 2018 2019 2020
Total Return (%) 0.59 0.97 1.58 2.03 1.11
Market Price (%) 0.47 1.17 1.60 1.95 1.15
Benchmark (%) 0.30 0.92 1.74 2.46 1.76
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 290,770,449
Inception Date Mar 3, 2015
Exchange Cboe BZX formerly known as BATS
Asset Class Fixed Income
Benchmark Index Bloomberg Barclays Municipal Bond: 1 Year (1-2) Index
Benchmark Index Bloomberg Barclays Municipal Bond: 1 Year (1-2) Index
Shares Outstanding as of Oct 15, 2021 5,800,000
Number of Holdings as of Oct 14, 2021 103
Premium/Discount as of Oct 15, 2021 0.07%
CUSIP 46431W838
Closing Market Price as of Oct 15, 2021 50.17
Mid-Point Market Price as of Oct 15, 2021 50.17
Premium/Discount as of Oct 15, 2021 0.06
Bloomberg Related Index Symbol LM01TR
30 Day Avg. Volume as of Oct 15, 2021 25,281.00
30 Day Median Bid/Ask Spread as of Oct 15, 2021 0.06
Volume - 1d as of Oct 15, 2021 74,057.00

Portfolio Characteristics

Portfolio Characteristics

Equity Beta (3y) as of Sep 30, 2021 0.01
Standard Deviation (3y) as of Sep 30, 2021 0.61%
12m Trailing Yield as of Oct 14, 2021 0.35%
30 Day SEC Yield as of Oct 14, 2021 -0.05%
Unsubsidized 30-Day SEC Yield as of Oct 14, 2021 -0.05%
Tax Equiv. SEC Yield as of Oct 14, 2021 -0.09%
Weighted Avg Coupon as of Oct 14, 2021 1.89%
Effective Duration as of Oct 14, 2021 0.57 yrs
Weighted Avg Maturity as of Oct 14, 2021 0.62 yrs
Convexity as of Oct 14, 2021 -0.05
Average Yield to Maturity as of Oct 14, 2021 0.25%

Sustainability Characteristics

Sustainability Characteristics

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. MSCI Ratings are currently unavailable for this fund.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of 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, but rather describes how ESG information is considered as part of the overall investment process.


Where applicable, the Fund manager includes ESG considerations in combination with other information in the research and due diligence stage of the investment process. ESG information may be sourced from both internal and external sources and included in the Aladdin risk system. The Fund manager conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Fees

Fees

as of current prospectus
Management Fee 0.25
Acquired Fund Fees and Expenses 0.00
Foreign Taxes and Other Expenses 0.00
Expense Ratio 0.25

Holdings

Holdings

as of Oct 14, 2021
Issuer Weight (%)
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 5.15
MAIN STREET NATURAL GAS INC GA 3.82
NEW JERSEY ST TRANSN TR FD AUTH 3.66
BLACK BELT ENERGY GAS DIST 2.31
HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP 1.47
Issuer Weight (%)
KENTUCKY INC KY PUB ENERGY AUTH 1.47
CONNECTICUT (STATE OF) 1.43
JERSEY CITY N J MUN UTILS AUTH 1.40
MICHIGAN STATE FINANCE AUTHORITY 1.19
TEXAS MUNICIPAL GAS ACQUISITION & SUPPLY CORP III 1.18
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
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 Oct 14, 2021

% of Market Value

Type Fund
as of Oct 14, 2021

% of Market Value

Type Fund
Maturity is provided in days. Maturity exposure is calculated by aggregating the percent par of holdings of individual securities in the portfolio by the legal final maturity date, or for securities that have a demand feature, the date in which the demand feature is exercised and proceeds received. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds).
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 50.17
0.43
Modified Duration 0.59

Spread of ACF Yield (0.43) over 0.50 yr Treasury Yield (0.06) Oct 15, 2021 is 36.92

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