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 09-Jan-2015

Issuer Weight (%)

as of 09-Jan-2015

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 (%)
FCA US LLC/CG CO-ISSUER INC Industrial United States 17121EAD9 FI B6ZFD57 $2,966,954 0.87 131.86 Jun 15, 2021 8.25 CAD USD 0.84 - - - - - -
HCA INC Industrial United States 404121AC9 FI B66GLR7 $2,640,256 0.77 132.01 Feb 15, 2020 6.50 CAD USD 0.84 - - - - - -
INTERNATIONAL LEASE FINANCE CORP Financial Institutions United States 459745GG4 FI B64Z6M6 $2,631,366 0.77 131.57 Mar 15, 2017 8.75 CAD USD 0.84 - - - - - -
ROYAL BANK OF SCOTLAND PLC (THE) Financial Institutions United Kingdom 780099CE5 FI B9052M3 $2,610,656 0.77 130.53 Dec 15, 2022 6.13 CAD USD 0.84 - - - - - -
DISH DBS CORP Industrial United States 25470XAE5 FI B6SCGR8 $2,551,358 0.75 127.57 Jun 1, 2021 6.75 CAD USD 0.84 - - - - - -
COMMUNITY HEALTH SYSTEMS INC Industrial United States 12543DAL4 FI B7T0KT8 $2,542,469 0.75 127.12 Nov 15, 2019 8.00 CAD USD 0.84 - - - - - -
FIRST DATA CORPORATION Industrial United States 319963BB9 FI B7323L3 $2,541,580 0.74 141.20 Jan 15, 2021 12.63 CAD USD 0.84 - - - - - -
SABINE PASS LIQUEFACTION LLC Industrial United States 785592AE6 FI BKWBYP3 $2,428,754 0.71 117.05 Feb 1, 2021 5.63 CAD USD 0.84 - - - - - -
SPRINT CORP - United States 85207UAF2 FI BSDRYY5 $2,418,012 0.71 120.90 Sep 15, 2023 7.88 CAD USD 0.84 - - - - - -
CLEAR CHANNEL COMMUNICATIONS INC Industrial United States 184502BG6 FI B5MC2T1 $2,349,857 0.69 117.49 Mar 1, 2021 9.00 CAD USD 0.84 - - - - - -

as of 28-Apr-2016

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 28-Apr-2016

% of Market Value

Cash and Derivatives

3.48%

0 - 1 Years

6.28%

1 - 2 Years

6.72%

2 - 3 Years

6.51%

3 - 5 Years

29.01%

5 - 7 Years

29.81%

7 - 10 Years

17.02%

10 - 15 Years

0.16%

15 - 20 Years

0.14%

20+ Years

0.85%

Average:

4.93 yrs
as of 09-Jan-2015

% of Market Value

Industrial

84.18%

Financial Institutions

7.42%

Utility

3.75%

as of 28-Apr-2016

% of Market Value

Cash and/or Derivatives

3.48%

BB Rated

41.98%

B Rated

39.20%

CCC Rated

14.88%

CC Rated

0.34%

C Rated

0.01%

D Rated

0.12%

Not Rated

-

Allocations are subject to change.

Risk Rating  

Low
Low to Medium
Medium
Medium to High
High

KEY FACTS

Net Assets

as of 29-Apr-2016

$16,588,702
Size of Fund (Common and Advisor)

as of 14-Jan-2015

334,654,366
Commencement Date   Jan 11, 2010
Exchange Toronto Stock Exchange
Asset Class Fixed Income
Benchmark Index Barclays U.S. High-Yield Very Liquid Index CAD Hedged
Index Provider Barclays Capital

Units Outstanding 900,000
Number of Holdings

as of 28-Apr-2016

611
CUSIP 46432G204
Price  

as of 29-Apr-2016

18.12
Options Available No

FEES as of 11-Jan-2010

Management Fee  

0.50%

Management Expense Ratio (MER)  

1.12%

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

0.08481
DRIP Price

as of 16-Mar-2016

18.00000

Distribution Yield  

as of 28-Apr-2016

5.51%
Weighted Avg YTM  

as of 28-Apr-2016

6.95%
12m Trailing Yield  

as of 28-Apr-2016

5.76%

Weighted Avg Coupon  

as of 28-Apr-2016

6.38%
Effective Duration  

as of 28-Apr-2016

4.05 yrs
Weighted Avg Maturity  

as of 28-Apr-2016

4.93 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.

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.

Index-Related Risks

In order to meet its investment objective, each iShares® fund will seek to achieve a return which reflects the return of its benchmark index as published by the relevant index provider. While index providers do provide descriptions of what each benchmark index is designed to achieve, index providers do not generally provide any warranty or accept any liability in relation to the quality, accuracy or completeness of data in respect of their benchmark indices, nor any guarantee that the published indices will be in line with their described benchmark index methodologies. Errors in respect of the quality, accuracy and completeness of the data may occur from time to time.

In addition, apart from scheduled rebalances, index providers may carry out additional ad hoc rebalances to their benchmark indices in order to, for example, correct an error in the selection of index constituents. Where the benchmark index of a fund is rebalanced and the fund in turn rebalances its portfolio to bring it in line with its benchmark index, any transaction costs arising from such portfolio rebalancing will be borne by the fund and, by extension, its unitholders.

Therefore, errors and additional ad hoc rebalances carried out by an index provider to a fund’s benchmark index may increase the costs of the fund.

There is no assurance that a fund’s benchmark index will continue to be calculated and published on the basis described in the fund’s prospectus or that it will not be amended significantly. The past performance of each benchmark index is not a guide to future performance.

  “Barclays Capital” and “Barclays Capital Inc.” are trademarks of Barclays Capital and have been licensed for use in connection with the listing and trading of the iShares U.S. High Yield Fixed Income Index ETF (CAD-Hedged) on the Toronto Stock Exchange. The iShares U.S. High Yield Fixed Income Index ETF (CAD-Hedged) is not sponsored by, endorsed, sold or promoted by Barclays Capital and Barclays Capital makes no representation regarding the advisability of investing in it.”

BlackRock Asset Management Canada Limited acknowledges and expressly agrees that the iShares U.S. High Yield Fixed Income Index ETF (CAD-Hedged) is not sponsored, endorsed, sold or promoted by Barclays Capital, and that Barclays Capital makes no warranty, express or implied, as to the results to be obtained by any person or entity from the use of any index, and opening, intra-day or closing value therefor, or any data included therein or relating thereto, in connection with the trading of any ETF or derivative or option product relating to an ETF based thereon or for any other purpose. Barclays Capital’s only relationship to BlackRock Asset Management Canada Limited with respect to the iShares U.S. High Yield Fixed Income Index ETF (CAD-Hedged) is the licensing of certain trademarks and trade names of Barclays Capital and the Barclays Capital indexes that are determined, composed and calculated by Barclays Capital without regard to BlackRock Asset Management Canada Limited or the owners of the iShares U.S. High Yield Fixed Income Index ETF (CAD-Hedged). Barclays Capital has no obligation to take the needs of BlackRock Asset Management Canada Limited or the owners of the iShares U.S. High Yield Fixed Income Index ETF (CAD-Hedged) into consideration in determining, composing or calculating the Barclays Capital indexes. Barclays Capital is not responsible for and has not participated in any determination or calculation made with respect to issuance of the iShares U.S. High Yield Fixed Income Index ETF (CAD-Hedged). Barclays Capital has no obligation or liability in connection with the listing, trading, marketing or administration of the iShares U.S. High Yield Fixed Income Index ETF (CAD-Hedged).

BARCLAYS CAPITAL DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF TH BARCLAYS CAPITAL INDEXES, OR ANY OPENING, INTRA-DAY OR CLOSING VALUE THEREFOR, OR ANY DATA INCLUDED THEREIN OR RELATED THERETO. BARCLAYS CAPITAL MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY OWNERS OF THE ISHARES U.S. HIGH YIELD FIXED INCOME INDEX ETF (CAD-HEDGED) OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE BARCLAYS CAPITAL INDEXES, ANY OPENING, INTRA-DAY OR CLOSING VALUE THEREFOR, AND DATA INCLUDED THEREIN OR RELATING THERETO, OR ANY ETF OR DERIVATIVE OR OPTION PRODUCT RELATING TO AN ETF BASED THEREON, IN CONNECTION WITH THE RIGHTS LICENSED HEREUNDER OR FOR ANY OTHER USE. BARCLAYS CAPITAL MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE BARCLAYS CAPITAL INDEXES, ANY OPENING, INTRA-DAY OR CLOSING VALUE THEREFOR, AND DATA INCLUDED THEREIN OR RELATING THERETO, OR ANY ETF OR DERIVATIVE OR OPTION PRODUCT RELATING TO AN ETF BASED THEREON. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL BARCLAYS CAPITAL HAVE ANY LIABILITY FOR ANY DAMAGES, CLAIMS, LOSSES (INCLUDING ANY INDIRECT OR CONSEQUENTIAL LOSSES), EXPENSES OR DELAYS, WHETHER DIRECT OF INDIRECT, FORESEEN OR UNFORESEEN, SUFFERED BY ANY PERSON ARISING OUT OF ANY CIRCUMSTANCE OR OCCURRENCE RELATING TO THE PERSON’S USE OF ANY BARCLAYS CAPITAL INDEX, ANY OPENING, INTRA-DAY OR CLOSING VALUE THEREFOR, AND DATA INCLUDED THEREIN OR RELATING THERETO, OR ANY ETF OR DERIVATIVE OR OPTION PRODUCT RELATING TO AN ETF BASED THEREON, OR ARISING OUT OF ANY ERRORS OR DELAYS IN CALCULATING OR DISSEMINATING SUCH BARCLAYS CAPITAL INDEX.

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