Fixed Income

IUAA

iShares US Aggregate Bond UCITS ETF

Overview

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. Important Information: Important Information: The value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. ETFs trade on exchanges like stocks and are bought and sold at market prices which may be different to the net asset values of the ETFs. Two main risks related to fixed income investing are interest rate risk and credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the issuer of the bond will not be able to repay the principal and make interest payments. The fund invests in fixed interest securities issued by companies. There is a risk of default where the issuing company may not pay income or repay capital to the Fund when due. The currency hedging is designed to reduce, but cannot eliminate the impact of currency movements between the Base Currency and the currencies in which some or all of the underlying investments are transacted. Depending on the exchange rates, this may have a positive or negative impact on the performance of the Fund.
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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Reinvestments

This fund does not have any distributions data as of now.
  From
30-Sep-2015
To
30-Sep-2016
From
30-Sep-2016
To
30-Sep-2017
From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2019
To
30-Sep-2020
Total Return (%)

as of Sep 30, 2020

- - -1.51 9.93 6.67
Benchmark (%)

as of Sep 30, 2020

- - -1.22 10.30 6.98
  1Y 3Y 5Y 10y Incept.
6.97 5.13 - - 4.64
Benchmark (%)

as of Nov 30, 2020

7.28 5.45 - - 4.94
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
7.07 0.96 0.43 1.66 6.97 16.19 - - 17.89
Benchmark (%)

as of Nov 30, 2020

7.36 0.98 0.48 1.79 7.28 17.27 - - 19.16
  2015 2016 2017 2018 2019
Total Return (%) - - - -0.29 8.39
Benchmark (%) - - - 0.01 8.72
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 Dec 2, 2020 USD 2,151,385,634
Net Assets of Fund USD 3,567,485,184
Base Currency USD
Share Class Currency USD
Fund Inception Date Sep 13, 2011
Inception Date Apr 13, 2017
Asset Class Fixed Income
Total Expense Ratio 0.25%
Ongoing Charge 0.25%
Product Structure Physical
Methodology Sampled
Domicile Ireland
UCITS Compliant Yes
Benchmark Index Bloomberg Barclays US Aggregate Bond Index
Distribution Frequency Accumulating
Securities Lending Return as of Sep 30, 2020 0.01%
ISA Eligibility Yes
SIPP Available Yes
UK Distributor/Reporting Status No/Yes
Rebalance Freq Monthly
ISIN IE00BYXYYM63
Bloomberg Ticker IUAA LN
Issuing Company iShares II plc
Fund Manager BlackRock Asset Management Ireland Limited
Administrator State Street Fund Services (Ireland) Limited
Custodian State Street Custodial Services (Ireland) Limited
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

Shares Outstanding 366,501,315
Number of Holdings as of Dec 2, 2020 5965
Benchmark Level as of Dec 3, 2020 USD 2,383.12
Benchmark Ticker LBUSTRUU
Distribution Yield as of - -
Weighted Avg Coupon as of Dec 2, 2020 3.16%
Fiscal Year End 31 October
Effective Duration as of Dec 2, 2020 6.02 yrs
Weighted Avg Maturity as of Dec 2, 2020 7.92 yrs
3y Beta as of Nov 30, 2020 0.998
Standard Deviation (3y) as of Nov 30, 2020 3.39%
Average Yield to Maturity as of Dec 2, 2020 1.11%

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 Nov 1, 2020 A
MSCI ESG Quality Score (0-10) as of Nov 1, 2020 6.14
MSCI ESG Quality Score - Peer Percentile as of - -
MSCI ESG % Coverage as of Nov 1, 2020 71.67
Fund Lipper Global Classification as of - -
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Nov 1, 2020 244.61
Funds in Peer Group as of - -
All data is from MSCI ESG Fund Ratings as of Nov 1, 2020, based on holdings as of Aug 31, 2020. 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 Dec 2, 2020 0.34%
MSCI - UN Global Compact Violators as of Dec 2, 2020 0.77%
MSCI - Nuclear Weapons as of Dec 2, 2020 0.24%
MSCI - Thermal Coal as of Dec 2, 2020 0.00%
MSCI - Civilian Firearms as of Dec 2, 2020 0.06%
MSCI - Oil Sands as of Dec 2, 2020 0.12%
MSCI - Tobacco as of Dec 2, 2020 0.32%

Business Involvement Coverage as of Dec 2, 2020 30.43%
Percentage of Fund not covered as of Dec 2, 2020 69.57%
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 0.14% and for Oil Sands 0.75%.

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.

Holdings

Holdings

as of Dec 2, 2020
Ticker ISIN Name Sector Location Asset Class Shares Market Value Weight (%) Price Exchange Maturity Coupon (%) Market Currency Duration Notional Value
as of Dec 2, 2020
Issuer Weight (%)
UNITED STATES TREASURY 38.16
UNIFORM MBS 8.41
FEDERAL NATIONAL MORTGAGE ASSOCIATION 7.39
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 6.01
FEDERAL HOME LOAN MORTGAGE CORPORATION 4.62
Issuer Weight (%)
FEDERAL HOME LOAN MORTGAGE CORPORATION -GOLD 0.72
BANK OF AMERICA CORP 0.67
JPMORGAN CHASE & CO 0.58
CITIGROUP INC 0.49
WELLS FARGO & COMPANY 0.46
Issuer Ticker Name Asset Class Weight (%) Price Shares Market Value Notional Value Sector ISIN Coupon (%) Maturity Exchange Location Market Currency Duration
Holdings are subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Dec 2, 2020

% of Market Value

Type Fund
as of Dec 2, 2020

% 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 Dec 2, 2020

% of Market Value

Type Fund
as of Dec 2, 2020

% of Market Value

Type Fund
as of Dec 2, 2020

% 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.

Securities Lending

Securities Lending

Securities lending is an established and well regulated activity in the investment management industry. It involves the transfer of securities (such as shares or bonds) from a Lender (in this case, the iShares fund) to a third-party (the Borrower). The Borrower will give the Lender collateral (the Borrower’s pledge) in the form of shares, bonds or cash, and will also pay the Lender a fee. This fee provides additional income for the fund and thus can help to reduce the total cost of ownership of an ETF.

 

At BlackRock, securities lending is a core investment management function with dedicated trading, research and technology capabilities. The lending programme is designed to deliver superior absolute returns to clients, whilst maintaining a low risk profile. Funds participating in securities lending retain 62.5% of the income, while BlackRock receives 37.5% of the income and covers all the operational costs resulting from securities lending transactions.

  From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2016
To
30-Sep-2017
From
30-Sep-2015
To
30-Sep-2016
Securities Lending Return (%) 0.01 0.01 0.02 0.02 0.01
Average on-loan (% of AUM) 5.63 10.35 15.33 11.02 3.47
Maximum on-loan (% of AUM) 8.17 16.35 19.03 14.83 8.04
Collateralisation (% of Loan) 110.33 110.10 111.06 110.38 109.81
The above table summarises the lending data available for the fund.

The information in the Lending Summary table will not be displayed for the funds that have participated in securities lending for less than 12 months. The figures shown relate to past performance. Past performance is not a reliable indication of current or future results.
BlackRock’s policy is to disclose performance information quarterly subject to a one-month delay. This means that returns from 01/01/2019 to 31/12/2019 can be publicly disclosed from 01/02/2020.

Maximum on-loan figure may increase or decrease over time.

With securities lending there is a risk of loss should the borrower default before the securities are returned, and due to market movements, the value of collateral held has fallen and/or the value of the securities on loan has risen.
as of Dec 2, 2020
Name Ticker ISIN SEDOL Exchange Location Asset Class Weight %
Collateral Holdings shown on this page are provided on days where the fund participating in securities lending had an open loan.

The information in the Collateral Holdings table relates to securities obtained in the collateral basket under the securities lending programme for the fund in question. The information contained in this material is derived from proprietary and non-proprietary sources deemed by BlackRock to be reliable, is not necessarily all inclusive and is not guaranteed as to accuracy. Reliance upon information in this material is at the sole discretion of the reader. The primary risk in securities lending is that a borrower will default on their commitment to return lent securities while the value of the liquidated collateral does not exceed the cost of repurchasing the securities and the fund suffers a loss in respect of the short-fall.

The below table shows the Loan/Collateral Combinations and Collateral Levels for our European Lending funds.

Collateral Types
Loan Type Equities Government, Supranational and Agency Bonds Cash (Not for Reinvestment)
Equities 105%-112% 105%-106% 105%-108%
Government Bonds 110%-112% 102.5%-106% 102.5%-105%
Corporate Bonds 110%-112% 104%-106% 103.5%-105%

Collateral parameters depend on the collateral and the loan combination, and the over collateralisation level may range from 102.5% to 112%. In this context, “Over Collateralisation” means that the aggregate market value of collateral taken will exceed the overall on-loan value. Collateral parameters are reviewed on an ongoing bases and are subject to change.
With securities lending there is a risk of loss should the borrower default before the securities are returned, and due to market movements, the value of collateral held has fallen and/or the value of the securities on loan has risen.

Listings

Exchange Ticker Currency Listing Date SEDOL Bloomberg Ticker RIC Bloomberg INAV Reuters INAV ISIN WKN Valoren Common Code (EOC) ISIN of INAV
London Stock Exchange IUAA USD Apr 13, 2017 BYXYYM6 IUAA LN IUAA.L - - IE00BYXYYM63 A2DN9W 36329219 - -
Bolsa Mexicana De Valores IUAA MXN May 4, 2017 - IUAAN MM - - - - - - - -
SIX Swiss Exchange IUAA CHF Jun 7, 2017 BF2MYT5 IUAA IUAA.S - - IE00BYXYYM63 - 36329219 - -

Literature

Literature