IBCE

iBonds® Mar 2023 Term Corporate ex-Financials ETF

Overview

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Performance

Performance

  • Returns

  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
7.68 0.10 0.82 3.30 7.51 18.27 - - 10.40
Market Price (%) Market price return represents changes to the midpoint price and accounts for distributions from the fund. The midpoint is the average of the bid-ask prices at 4:00 PM ET (when NAV is normally determined for most funds). 8.54 0.38 1.22 4.26 8.06 20.07 - - 11.71
Benchmark (%) Index: Bloomberg Barclays 2023 Maturity High Quality Corporate 7.55 0.12 0.80 3.12 7.38 18.43 - - 10.69
After Tax Pre-Liq. (%) Return after taxes on distributions. Assumes fund shares have not been sold. 6.83 0.01 0.53 2.69 6.20 13.98 - - 5.97
After Tax Post-Liq. (%) Return after taxes on distributions and sale of fund shares. 4.33 0.06 0.46 1.86 4.22 11.86 - - 5.80

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.

Growth of Hypothetical $10,000 The growth of hypothetical $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.

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Distributions

Ex-Date Total Distribution Income
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Premium/Discount

Key Facts

Key Facts

Net Assets as of 08-Dec-2016 $40,950,928
Inception Date 17-Apr-2013
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index Bloomberg Barclays 2023 Maturity High Quality Corporate
Bloomberg Index Ticker BM23TRUU
Shares Outstanding as of 08-Dec-2016 1,700,000
CUSIP 46432FAN7
Options Available No

Portfolio Characteristics

Portfolio Characteristics

This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Holdings

Holdings

as of 07-Dec-2016
Ticker Name Sector Shares Market Value Weight (%) Price Exchange Notional Value
UTX UNITED TECHNOLOGIES CORP Capital Goods 895,000 $921,623 2.25 102.92 - 921,623.24
GE GENERAL ELECTRIC CO Capital Goods 895,000 $903,870 2.20 100.56 - 903,869.51
V VISA INC Consumer Cyclical 875,000 $893,625 2.18 100.78 - 893,624.90
ORCL ORACLE CORPORATION Technology 896,000 $890,894 2.17 99.07 - 890,893.80
CVX CHEVRON CORP Energy 854,000 $840,482 2.05 98.40 - 840,481.88
QCOM QUALCOMM INCORPORATED Technology 800,000 $813,005 1.98 101.48 - 813,005.34
BPLN BP CAPITAL MARKETS PLC Energy 730,000 $713,577 1.74 97.53 - 713,577.06
INTC INTEL CORPORATION Technology 663,000 $676,359 1.65 100.72 - 676,359.44
DE DEERE & CO Capital Goods 663,000 $672,718 1.64 100.17 - 672,718.09
NOVNVX NOVARTIS CAPITAL CORP Consumer Non-Cyclical 663,000 $660,584 1.61 99.13 - 660,584.46
Ticker Name Weight (%) Price Shares Market Value Notional Value Sector Exchange
Holdings are subject to change.

Exposure Breakdowns

Exposure Breakdowns

as of 07-Dec-2016

% of Market Value

as of 07-Dec-2016

% of Market Value

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 07-Dec-2016

% of Market Value

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.

Price Yield Calculator

Price Yield Calculator

The calculator provides clients with an indication of an ETF's yield and duration for a given market price. The ACF Yield is the discount rate that equates the ETF's aggregate cash flows (i.e., the sum of the cash flows of the ETF's holdings) to a given ETF price. The cash flows are based on the yield to worst methodology in which a bond's cash flows are assumed to occur at the call date (if applicable) or maturity, whichever results in the lowest yield for that bond holding. For a given ETF price, this calculator will estimate the corresponding ACF Yield and spread to the relevant government reference security yield. Note that the ACF Yield will differ from the ETF's "Weighted Avg YTM For more information on Aggregate Cash Flow Yield, see info here. The Aggregate Cash Flow (“ACF”) Yield is the discount rate that equates the aggregate cash flows of the ETF's individual fund holdings (specifically the cash flows corresponding to the lower of the yield to call or yield to maturity of a given security) to a stated market price. In contrast, the weighted average yield to maturity is a market value weighted average of the yields of the ETF's individual holdings based on the prior day's net asset value. The ACF Yield allows an investor to compare the yield and spread for varying ETF market prices in order to help understand the impact of intraday market movements. The ACF of the ETF is the sum of the individual bond cash flows “to worst” (i.e. either to call or to maturity, whichever results in the lowest yield for the ETF). The ACF Yield does not make any adjustments based on the cost incurred to acquire an ETF or the impact of the ETF’s management fee.

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 (10 basis points).
The NAV (as of 08-Dec-2016) used in the calculation is $24.09. The value you enter should correspond to your estimated market purchase price as of 08-Dec-2016.
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 Average Yield to Maturity shown is the weighted average yield to maturity of the individual bonds. During the final year of the fund's life, the underlying bonds will mature and the proceeds will be held in cash equivalents until the liquidation of the fund. The investor's total realized yield to fund maturity will be influenced by the yield earned on these proceeds during the final year. If the future yield on cash equivalents is lower than the current Average Yield to Maturity for the portfolio’s bonds, the realized yield to fund maturity is also expected to be lower and vice versa.

Literature

Literature

 

How to Buy

How to Buy

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