Fixed Income

IBDO

iShares® iBonds® Dec 2023 Term Corporate 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.
1.19 5.04 3.14 - 3.58
Market Price (%) 1.08 5.01 3.03 - 3.58
Benchmark (%) 1.28 5.14 3.24 - 3.63
After Tax Pre-Liq. (%) 0.39 3.93 1.97 - 2.38
After Tax Post-Liq. (%) 0.70 3.39 1.88 - 2.21
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
0.34 0.03 0.16 0.39 1.19 15.91 16.71 - 25.91
Market Price (%) 0.19 0.03 0.16 0.35 1.08 15.79 16.09 - 25.92
Benchmark (%) 0.38 0.01 0.17 0.44 1.28 16.21 17.30 - 26.35
After Tax Pre-Liq. (%) -0.16 -0.03 -0.01 0.03 0.39 12.26 10.25 - 16.67
After Tax Post-Liq. (%) 0.20 0.01 0.10 0.23 0.70 10.53 9.78 - 15.38
  2016 2017 2018 2019 2020
Total Return (%) 5.83 4.68 -0.21 8.82 5.35
Market Price (%) 5.39 4.41 -0.41 8.85 5.42
Benchmark (%) 6.04 4.82 -0.15 8.95 5.44
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 22, 2021 USD 1,666,389,138
Inception Date Mar 11, 2015
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index Bloomberg Barclays December 2023 Maturity Corporate Index
Bloomberg Index Ticker BDM9TRUU
Shares Outstanding as of Oct 22, 2021 64,400,000
Number of Holdings as of Oct 22, 2021 538
Premium/Discount as of Oct 22, 2021 -0.02%
CUSIP 46434VAX8
Closing Market Price as of Oct 22, 2021 25.89
Mid-Point Market Price as of Oct 22, 2021 25.87
Premium/Discount as of Oct 22, 2021 0.06
30 Day Avg. Volume as of Oct 22, 2021 152,638.00
30 Day Median Bid/Ask Spread as of Oct 22, 2021 0.04
Volume - 1d as of Oct 22, 2021 92,262.00

Portfolio Characteristics

Portfolio Characteristics

Equity Beta (3y) as of Sep 30, 2021 0.09
Standard Deviation (3y) as of Sep 30, 2021 3.57%
12m Trailing Yield as of Oct 22, 2021 1.92%
30 Day SEC Yield as of Oct 22, 2021 0.43%
Weighted Avg Coupon as of Oct 22, 2021 3.04%
Effective Duration as of Oct 22, 2021 1.44 yrs
Weighted Avg Maturity as of Oct 22, 2021 1.49 yrs
Convexity as of Oct 22, 2021 -0.02
Option Adjusted Spread as of Oct 22, 2021 32
Average Yield to Maturity as of Oct 22, 2021 0.66%

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 7.44
MSCI ESG Quality Score - Peer Percentile as of Oct 7, 2021 74.56
MSCI ESG % Coverage as of Oct 7, 2021 99.59
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 216.91
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 22, 2021 2.00%
MSCI - UN Global Compact Violators as of Oct 22, 2021 2.13%
MSCI - Nuclear Weapons as of Oct 22, 2021 1.32%
MSCI - Thermal Coal as of Oct 22, 2021 0.00%
MSCI - Civilian Firearms as of Oct 22, 2021 0.29%
MSCI - Oil Sands as of Oct 22, 2021 0.34%
MSCI - Tobacco as of Oct 22, 2021 0.61%

Business Involvement Coverage as of Oct 22, 2021 89.73%
Percentage of Fund not covered as of Oct 22, 2021 10.27%
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 0.29% and for Oil Sands 4.30%.

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 0.10
Acquired Fund Fees and Expenses 0.00
Foreign Taxes and Other Expenses 0.00
Expense Ratio 0.10

Holdings

Holdings

as of Oct 22, 2021
Issuer Weight (%)
APPLE INC 1.76
JPMORGAN CHASE & CO 1.59
TOYOTA MOTOR CREDIT CORP 1.53
MORGAN STANLEY 1.50
TORONTO-DOMINION BANK/THE 1.43
Issuer Weight (%)
GOLDMAN SACHS GROUP INC/THE 1.40
BANK OF AMERICA CORP 1.34
AERCAP IRELAND CAPITAL DAC 1.27
BOEING CO 1.12
AMERICAN HONDA FINANCE CORPORATION 1.11
as of Oct 22, 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 22, 2021

% of Market Value

Type Fund
as of Oct 22, 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 22, 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.

Estimated Net Acquisition Yield Calculator

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 (10.00 basis points).
The NAV (as of Oct 22, 2021) used in the calculation is USD 25.88. The value you enter should correspond to your estimated market purchase price as of Oct 22, 2021.
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.

The ENA Yield metric does not include the impact of cash reinvestment rates (e.g., during the final year prior to maturity), potential losses arising from credit downgrades or defaults, or changes to the portfolio composition over time.

The Estimated Net Acquisition Yield is an annualized number. For periods less than one year, the yield adjustment will be magnified for a given change in price. This effect will increase as the fund approaches maturity.

Literature

Literature