Fixed Income

IBMQ

iShares® iBonds® Dec 2028 Term Muni 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

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Distributions

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Premium/Discount

  1Y 3Y 5Y 10y Incept.
2.26 - - - 5.46
Market Price (%) 2.33 - - - 5.58
Benchmark (%) 3.12 - - - 5.45
After Tax Pre-Liq. (%) 2.26 - - - 5.46
After Tax Post-Liq. (%) 1.81 - - - 4.50
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-0.31 0.16 1.08 -0.31 2.26 - - - 12.45
Market Price (%) -0.24 0.23 1.23 -0.24 2.33 - - - 12.74
Benchmark (%) 0.13 0.18 1.25 0.13 3.12 - - - 12.42
After Tax Pre-Liq. (%) -0.31 0.16 1.08 -0.31 2.26 - - - 12.45
After Tax Post-Liq. (%) 0.00 0.13 0.75 0.00 1.81 - - - 10.20
  2016 2017 2018 2019 2020
Total Return (%) - - - - 6.78
Market Price (%) - - - - 6.93
Benchmark (%) - - - - 6.36
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 Jul 23, 2021 USD 68,902,246
Inception Date Apr 16, 2019
Exchange Cboe BZX formerly known as BATS
Asset Class Fixed Income
Benchmark Index S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 Index
Bloomberg Index Ticker SPMDC28
Shares Outstanding as of Jul 23, 2021 2,500,000
Number of Holdings as of Jul 22, 2021 470
Premium/Discount as of Jul 23, 2021 0.11%
CUSIP 46435U325
Closing Market Price as of Jul 23, 2021 27.59
Mid-Point Market Price as of Jul 23, 2021 27.59
Premium/Discount as of Jul 23, 2021 0.09
30 Day Avg. Volume as of Jul 23, 2021 7,038.00
30 Day Median Bid/Ask Spread as of Jul 23, 2021 0.22
Volume - 1d as of Jul 23, 2021 604.00

Portfolio Characteristics

Portfolio Characteristics

Equity Beta (3y) as of - -
Equity Beta as of Jun 30, 2021 0.09
Standard Deviation (3y) as of - -
12m Trailing Yield as of Jul 22, 2021 1.11%
30 Day SEC Yield as of Jul 22, 2021 0.58%
Unsubsidized 30-Day SEC Yield as of Jul 22, 2021 0.58%
30 Day SEC Yield Month End as of Jun 30, 2021 0.63
Tax Equiv. SEC Yield as of Jul 22, 2021 1.03%
Weighted Avg Coupon as of Jul 22, 2021 4.73%
Effective Duration as of Jul 22, 2021 6.11 yrs
Weighted Avg Maturity as of Jul 22, 2021 6.47 yrs
Convexity as of Jul 22, 2021 0.35
Average Yield to Maturity as of Jul 22, 2021 0.69%

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.

Fees

Fees

as of current prospectus
Management Fee 0.18
Acquired Fund Fees and Expenses 0.00
Foreign Taxes and Other Expenses 0.00
Expense Ratio 0.18

Holdings

Holdings

as of Jul 22, 2021
Issuer Weight (%)
CALIFORNIA (STATE OF) 3.64
DORMITORY AUTHORITY OF STATE OF NEW YORK 2.92
CONNECTICUT (STATE OF) 2.07
NEW YORK N Y 1.68
ILLINOIS (STATE OF) 1.68
Issuer Weight (%)
METROPOLITAN TRANSPORTATION AUTHORITY 1.53
WASHINGTON (STATE OF) 1.44
DISTRICT OF COLUMBIA (WASHINGTON DC) 1.36
OHIO (STATE OF) 1.34
MASSACHUSETTS (COMMONWEALTH OF) 1.24
ISIN Name Sector SEDOL Market Value Weight (%) Price Maturity Coupon (%) Duration Notional Value YTM (%) Mod. Duration Yield to Call (%) Yield to Worst (%) Par Value
Name Asset Class Weight (%) Price Shares Market Value Notional Value Sector SEDOL ISIN Coupon (%) Maturity YTM (%) Yield to Worst (%) Duration Mod. 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 Jul 22, 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 Jul 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 Jul 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.
as of Jul 22, 2021

% of Market Value

Type Fund
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 (18.00 basis points).
The NAV (as of Jul 23, 2021) used in the calculation is USD 27.56. The value you enter should correspond to your estimated market purchase price as of Jul 23, 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 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