Fixed Income

HYXF

iShares ESG Advanced High Yield Corporate Bond ETF

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.
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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
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  From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2020
To
30-Sep-2021
From
30-Sep-2021
To
30-Sep-2022
Total Return (%)

as of Sep 30, 2022

2.70 8.59 3.59 7.28 -14.85
Benchmark (%)

as of Sep 30, 2022

2.67 8.94 3.86 7.87 -15.07
  1Y 3Y 5Y 10y Incept.
-14.85 -1.82 1.08 - 2.81
Benchmark (%) -15.07 -1.64 1.25 - 3.09
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-15.17 -4.33 -1.32 -10.53 -14.85 -5.37 5.53 - 19.10
Benchmark (%) -15.44 -4.31 -1.17 -10.47 -15.07 -4.85 6.42 - 21.11
  2017 2018 2019 2020 2021
Total Return (%) 5.85 -0.66 15.29 5.73 2.91
Benchmark (%) 6.28 -0.59 15.73 6.03 3.33
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 of Fund as of Dec 2, 2022 USD 125,400,231
Fund Inception Date Jun 14, 2016
Exchange NASDAQ
Base Currency USD
Asset Class Fixed Income
Benchmark Index Bloomberg MSCI US High Yield Choice ESG Screened Index
Bloomberg Index Ticker I35648US
Distribution Frequency Monthly
Use of Income Distributing
Domicile United States
CUSIP 46435G441
ISIN US46435G4414
44.20
-
30 Day Avg. Volume 17,408.00
Volume - 1d as of Dec 2, 2022 5,942.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Dec 1, 2022 670
Equity Beta (3y) as of Oct 31, 2022 0.39
12m Trailing Yield as of Dec 1, 2022 5.56%
Standard Deviation (3y) as of Oct 31, 2022 9.47%
Average Yield to Maturity as of Dec 1, 2022 7.90%
Weighted Avg Coupon as of Dec 1, 2022 5.36
Weighted Avg Maturity as of Dec 1, 2022 5.81 yrs
Effective Duration as of Dec 1, 2022 4.23 yrs
Convexity as of Dec 1, 2022 0.00
Option Adjusted Spread as of Dec 1, 2022 384

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.


This fund seeks to follow a sustainable, impact or ESG investment strategy, as disclosed in its prospectus. For more information regarding the fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of Sep 21, 2022 A
MSCI ESG % Coverage as of Sep 21, 2022 99.87
MSCI ESG Quality Score (0-10) as of Sep 21, 2022 7.06
MSCI ESG Quality Score - Peer Percentile as of Sep 21, 2022 96.33
Fund Lipper Global Classification as of Sep 21, 2022 Bond USD High Yield
Funds in Peer Group as of Sep 21, 2022 381
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Sep 21, 2022 97.00
MSCI Weighted Average Carbon Intensity % Coverage as of Sep 21, 2022 98.01
MSCI Implied Temperature Rise (0-3.0+ °C) as of Sep 21, 2022 > 2.5° - 3.0° C
MSCI Implied Temperature Rise % Coverage as of Sep 21, 2022 92.26

What is the Implied Temperature Rise (ITR) metric? Learn what the metric means, how it is calculated, and about the assumptions and limitations for this forward-looking climate-related metric.

Climate change is one of the greatest challenges in human history and will have profound implications for investors. To address climate change, many of the world's major countries have signed the Paris Agreement. The temperature goal of the Paris Agreement is to limit global warming to well below 2°C above pre-industrial levels, and ideally 1.5 °C, which will help us avoid the most severe impacts of climate change.


What is the ITR metric?

The ITR metric is used to provide an indication of alignment to the temperature goal of the Paris Agreement for a company or a portfolio. Scientific consensus suggests that reducing emissions until they reach net zero around mid-century (2050-2070) is how this goal could be met. A net zero emissions economy is one that balances emissions and removals.


How is the ITR metric calculated?

The ITR metric is calculated by looking at the current emissions intensity of companies within the fund's portfolio as well as the potential for those companies to reduce its emissions over time. If emissions in the global economy followed the same trend as the emissions of companies within the fund's portfolio, global temperatures would ultimately rise within this band.


Note, only corporate issuers are covered within the calculation. A summary explanation of MSCI’s methodology and assumptions for its ITR metric can be found here.


Because the ITR metric is calculated in part by considering the potential for a company within the fund’s portfolio to reduce its emissions over time, it is forward-looking and prone to limitations. As a result, BlackRock publishes MSCI’s ITR metric for its funds in temperature range bands. The bands help to underscore the underlying uncertainty in the calculations and the variability of the metric.

Thermometer-style chart of yellow to red temperature bands showing an investment’s position relative to the Paris Agreement temperature goals. Metric data source MSCI

What are the key assumptions and limitations of the ITR metric?

This forward-looking metric is calculated based on a model, which is dependent upon multiple assumptions. Also, there are limitations with the data inputs to the model. Importantly, an ITR metric may vary meaningfully across data providers for a variety of reasons due to methodological choices (e.g., differences in time horizons, the scope(s) of emissions included and portfolio aggregation calculations).

There is not a universally accepted way to calculate an ITR. There is not a universally agreed upon set of inputs for the calculation. At present, availability of input data varies across asset classes and markets. To the extent that data becomes more readily available and more accurate over time, we expect that ITR metric methodologies will evolve and may result in different outputs. Where data is not available, and / or if data changes, the estimation methods vary, particularly those related to a company’s future emissions.


The ITR metric estimates a fund’s alignment with the Paris Agreement temperature goal. However, there is no guarantee that these estimates will be reached. The ITR metric is not a real time estimate and may change over time, therefore it is prone to variance and may not always reflect a current estimate.


The ITR metric is not an indication or estimate of a fund’s performance or risk. Investors should not rely on this metric when making an investment decision and instead should refer to a fund’s prospectus and governing documents. This estimate and the associated information is not intended as a recommendation to invest in any fund, nor is it intended to indicate any correlation between a fund’s ITR metric and its future investment performance.

All data is from MSCI ESG Fund Ratings as of Sep 21, 2022, based on holdings as of Aug 31, 2022. 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 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. 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. 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 Dec 1, 2022 0.00%
MSCI - UN Global Compact Violators as of Dec 1, 2022 0.00%
MSCI - Nuclear Weapons as of Dec 1, 2022 0.00%
MSCI - Thermal Coal as of Dec 1, 2022 0.00%
MSCI - Civilian Firearms as of Dec 1, 2022 0.00%
MSCI - Oil Sands as of Dec 1, 2022 0.00%
MSCI - Tobacco as of Dec 1, 2022 0.00%

Business Involvement Coverage as of Dec 1, 2022 50.56%
Percentage of Fund not covered as of Dec 1, 2022 49.44%
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 0.00% and for Oil Sands 0.00%.

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.

Ratings

Fees

Fees

as of current prospectus
Management Fee 0.35
Acquired Fund Fees and Expenses 0.00
Foreign Taxes and Other Expenses 0.00
Expense Ratio 0.35

Holdings

Holdings

as of Dec 1, 2022
Issuer Weight (%)
CSC HOLDINGS LLC 1.97
CCO HOLDINGS LLC 1.96
ROYAL CARIBBEAN CRUISES LTD 1.95
TRANSDIGM INC 1.92
NETFLIX INC 1.81
Issuer Weight (%)
SIRIUS XM RADIO INC 1.72
ONEMAIN FINANCE CORP 1.58
IRON MOUNTAIN INC 1.27
1011778 BC UNLIMITED LIABILITY CO 1.24
HILTON DOMESTIC OPERATING COMPANY INC 1.17
Name 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
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 Dec 1, 2022

% of Market Value

Type Fund
as of Dec 1, 2022

% 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 Dec 1, 2022

% 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 RIC Bloomberg INAV Reuters INAV ISIN WKN Valoren Common Code (EOC) ISIN of INAV
NASDAQ HYXF USD Jun 16, 2016 - HYXE - - - - - 32925510 - -

Literature

Literature