PERFORMANCE


The above results are hypothetical and are intended for illustrative purposes only. The Hypothetical Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses, were deducted. As a result of the risks and limitations inherent in hypothetical performance data, hypothetical results may differ from actual performance.

Unlike an actual performance record, simulated results do not represent actual performance and are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. There are frequently differences between simulated performance results and the actual results subsequently achieved by any particular fund. In addition, since trades have not actually been executed, simulated results cannot account for the impact of certain market risks such as lack of liquidity. There are numerous other factors related to the markets in general or the implementation of any specific investment strategy, which cannot be fully accounted for the in the preparation of simulated results and all of which can adversely affect actual results.



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.

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Ex-Date Payable Date Record Date Cash Amount Total Distribution Reinvested
Total Distribution per Unit for Tax Purposes Eligible Dividends Non Eligible Dividends Other Income Capital Gains Return of Capital Interest Income Foreign Income Foreign Tax Paid Year

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All amounts given in Canadian dollars.

 

At least once each year, the Fund will distribute all net taxable income to investors. These distributions will either be paid in cash or reinvested in the Fund, as may be determined by BlackRock Asset Management Canada Limited from time to time. These distributions will consist primarily of distributions received from the securities held within the Fund less Fund expenses, plus any realized capital gains generated from securities transactions within the Fund.

 

The amounts of past distributions are shown below. The characterization of distributions for tax purposes (such as dividends, other income, capital gains etc.) for each period will be reported only after the Fund's tax year end. Therefore, the chart below showing the tax characteristics will be updated only once each tax year. For tax purposes, these amounts will be reported by brokers on official tax statements.

Holdings

as of 03-May-2016

Issuer Weight (%)

as of 03-May-2016

Name Sector Country of Risk CUSIP Asset Class SEDOL Market Value Weight (%) Price Maturity Coupon (%) Currency Market Currency FX Rate Duration Notional Value YTM (%) Mod. Duration Yield to Call (%) Yield to Worst (%)
CAD CASH Cash and/or Derivatives Canada - CA - $15,649,533 7.34 100.00 May 4, 2016 0.94 CAD CAD 1.00 0.00 15,649,532.59 0.94 0.00 - 0.94
USD CASH Cash and/or Derivatives United States - CA - $8,451,052 3.96 126.94 May 4, 2016 0.44 CAD USD 0.79 0.00 8,451,052.04 0.44 0.00 - 0.44
ALLY FINANCIAL INC Corporates United States 02005NAR1 FI BDF2799 $8,436,477 3.96 130.11 Sep 10, 2018 4.75 CAD USD 0.79 2.23 8,436,477.18 3.63 2.20 - 3.63
SPRINT NEXTEL CORPORATION 144A Corporates United States 852061AK6 FI B4059B6 $6,746,083 3.16 133.76 Nov 15, 2018 9.00 CAD USD 0.79 2.23 6,746,083.49 6.66 2.17 - 6.66
AVIS BUDGET CAR RENTAL LLC Corporates United States 053773AT4 FI BD3ZL87 $6,398,657 3.00 128.50 Nov 15, 2017 4.88 CAD USD 0.79 0.82 6,398,656.51 4.04 1.43 - 3.65
BUMBLE BEE HOLDINGS INC 144A Corporates Luxembourg 120462AA4 FI B4X4222 $6,092,457 2.86 128.21 Dec 15, 2017 9.00 CAD USD 0.79 0.60 6,092,456.74 8.32 1.43 - 7.29
NATIONSTAR MORTGAGE LLC Corporates United States 63860UAM2 FI BCDWCW2 $5,973,701 2.80 123.92 Aug 1, 2018 6.50 CAD USD 0.79 2.04 5,973,700.95 7.67 2.01 - 7.67
CIT GROUP INC 144A Corporates United States 125581GH5 FI B749YM1 $5,184,894 2.43 132.81 Feb 15, 2019 5.50 CAD USD 0.79 2.59 5,184,893.92 3.73 2.55 - 3.73
NRG ENERGY INC Corporates United States 629377BN1 FI B713PM3 $4,667,606 2.19 135.19 Jan 15, 2018 7.63 CAD USD 0.79 1.60 4,667,606.36 3.64 1.57 - 3.64
DISH DBS CORP Corporates United States 25470XAB1 FI B4T1HG6 $3,705,947 1.74 140.27 Sep 1, 2019 7.88 CAD USD 0.79 2.97 3,705,947.45 4.44 2.91 - 4.44
Name Asset Class Weight (%) Price Market Value Notional Value Sector SEDOL CUSIP Coupon (%) Maturity Country of Risk Currency Market Currency YTM (%) Yield to Call (%) Yield to Worst (%) Duration Mod. Duration FX Rate
Holdings are subject to change.

Exposure Breakdowns

as of 03-May-2016

% of Market Value

Cash and Derivatives

12.99%

0 - 1 Years

10.03%

1 - 2 Years

15.89%

2 - 3 Years

24.25%

3 - 5 Years

25.01%

5 - 7 Years

10.85%

7 - 10 Years

0.89%

20+ Years

0.08%

Average:

2.34 yrs
as of 03-May-2016

% of Market Value

Consumer Non-Cyclical

14.78%

Consumer Cyclical

14.54%

Communications

13.66%

Cash and/or Derivatives

12.99%

Transportation

5.48%

Finance Companies

5.23%

Financial Other

5.01%

Capital Goods

4.64%

Technology

4.56%

Electric

4.06%

Banking

3.96%

Industrial Other

3.85%

Energy

3.51%

Basic Industry

3.15%

Insurance

0.38%

Owned No Guarantee

0.20%

as of 03-May-2016

% of Market Value

Cash and/or Derivatives

12.99%

BBB Rated

1.66%

BB Rated

35.66%

B Rated

40.49%

CCC Rated

8.12%

Not Rated

1.08%

Allocations are subject to change.

Risk Rating  

Low
Low to Medium
Medium
Medium to High
High

KEY FACTS

Net Assets

as of 04-May-2016

$21,278,618
Size of Fund (Common and Advisor)

as of 04-May-2016

$213,892,129
Commencement Date   Mar 1, 2011
Exchange Toronto Stock Exchange
Asset Class Fixed Income
Benchmark Index -
Index Provider -

Units Outstanding 1,175,000
Number of Holdings

as of 03-May-2016

221
CUSIP 46430G305
Price  

as of 03-May-2016

18.00
Options Available No

FEES as of 01-Mar-2011

Management Fee  

0.55%

Management Expense Ratio (MER)  

1.15%

Service Fee  

0.50%

PORTFOLIO CHARACTERISTICS

Investment Program*   DRIP / PACC / SWP
Eligible for Registered Plans   Y
Distribution Frequency   Monthly
Last Distribution per Share

as of 22-Apr-2016

0.06260
DRIP Price

as of 16-Mar-2016

17.93000

Distribution Yield  

as of 03-May-2016

4.15%
Weighted Avg YTM  

as of 03-May-2016

4.86%
12m Trailing Yield  

as of 03-May-2016

4.84%

Weighted Avg Coupon  

as of 03-May-2016

5.40%
Effective Duration  

as of 03-May-2016

1.76 yrs
Weighted Avg Maturity  

as of 03-May-2016

2.34 yrs

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Index history does not represent trades that have actually been executed and therefore may under or over compensate for the impact, if any, of certain market factors, such as illiquidity. No representation is being made that an actual investment in accordance with the above will or is likely to achieve profits or losses similar to the index history. Indexes are unmanaged and do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in an investable product. An index’s performance is not illustrative of an investable product’s performance. Indexes are not securities in which direct investments can be made.

Important information about the iShares® Funds

iShares® ETFs are managed by BlackRock Asset Management Canada Limited. Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or operational charges or income taxes payable by any securityholder that would have reduced returns. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.

Index returns are denominated in Canadian Dollars for all funds, except XIG and XHY. For XIG and XHY, index returns shown are denominated in U.S. Dollars. Fund returns are denominated in Canadian Dollars for all iShares ETFs.

Although BlackRock Asset Management Canada Limited (together with its affiliates, “BlackRock”) shall obtain data from sources that BlackRock considers reliable, all data contained herein is provided “as is” and BlackRock makes no representation or warranty of any kind, either express or implied, with respect to such data, the timeliness thereof, the results to be obtained by the use thereof or any other matter. BlackRock expressly disclaims any and all implied warranties, including without limitation, warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose.

iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. Used with permission.