Fixed Income

CBO

iShares 1-5 Year Laddered Corporate Bond Index ETF

  • NAV as of May 26, 2023 CAD 17.19
    52 WK: 16.83 - 17.51
  • 1 Day NAV Change as of May 26, 2023 -0.02 (-0.12%)
  • NAV Total Return as of May 25, 2023 YTD: 1.58%

Overview

Why CBO?

1. Invests in a portfolio of Canadian corporate bonds, with laddered maturities from 1-5 years

2. Provides access to investment grade bonds plus monthly cash distributions

3. Can be used to mitigate interest rate risk

INVESTMENT OBJECTIVE

Seeks to replicate the performance of the FTSE Canada 1-5 Year Laddered Corporate Bond Index™, net of expenses.
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Performance

Performance

Growth of Hypothetical $10,000

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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.

Distributions

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Ex-Date Payable Date Record Date Cash Amount Total Distribution Reinvested

Tax Distribution Characteristics: link

Year 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

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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.

DRIP/PACC

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Date DRIP
Date PACC
Date SWP
  1y 3y 5y 10y Incept.
Total Return (%) 2.66 0.16 1.58 1.63 2.56
Benchmark (%) 2.94 0.46 1.87 1.94 3.02
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 2.64 0.68 0.94 3.94 2.66 0.49 8.18 17.49 43.17
Benchmark (%) 2.74 0.71 0.99 4.06 2.94 1.38 9.70 21.13 52.48
  2018 2019 2020 2021 2022
Total Return (%) 1.37 4.20 5.87 -1.11 -4.64
Benchmark (%) 1.68 4.48 6.18 -0.83 -4.37

Key Facts

Key Facts

Net Assets as of May 26, 2023 CAD 758,116,197
Commencement Date Feb 25, 2009
Exchange Toronto Stock Exchange
Asset Class Fixed Income
Benchmark Index FTSE Canada 1-5 Year Laddered Corporate Bond Index™
Units Outstanding as of May 26, 2023 44,100,000
Number of Holdings as of May 26, 2023 354
CUSIP 46433Q102
Price as of May 26, 2023 17.18
Options Available No

Portfolio Characteristics

Portfolio Characteristics

Investment Program* PACC / SWP / DRIP
Eligible for Registered Plans Yes
Distribution Frequency Monthly
Last Distribution per Share as of May 17, 2023 0.04
DRIP Price as of Apr 24, 2023 17.39
Distribution Yield as of May 25, 2023 2.79%
Weighted Avg YTM as of May 25, 2023 5.26%
12m Trailing Yield as of May 25, 2023 2.71%
Weighted Avg Coupon as of May 25, 2023 2.89%
Effective Duration as of May 25, 2023 2.51 yrs
Weighted Avg Maturity as of May 25, 2023 3.01 yrs

* DRIP/PACC/SWP Investment Programs

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.


The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics 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 methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of May 19, 2023 AA
MSCI ESG % Coverage as of May 19, 2023 87.75
MSCI ESG Quality Score (0-10) as of May 19, 2023 7.62
MSCI ESG Quality Score - Peer Percentile as of May 19, 2023 96.91
Fund Lipper Global Classification as of May 19, 2023 Bond CAD Short Term
Funds in Peer Group as of May 19, 2023 97
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of May 19, 2023 103.18
MSCI Weighted Average Carbon Intensity % Coverage as of May 19, 2023 88.84
MSCI Implied Temperature Rise (0-3.0+ °C) as of May 19, 2023 > 2.5° - 3.0° C
MSCI Implied Temperature Rise % Coverage as of May 19, 2023 75.48
As of Date MSCI ESG Quality Score MSCI ESG Quality Score - Peer Percentile MSCI ESG Fund Rating MSCI ESG % Coverage Funds in Peer Group

Historical data are provided for the last 12 months to the extent available.

View historical Sustainability Characteristics

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 aggre