PERFORMANCE



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.



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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

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.

Ex-Date Payable Date Record Date Total Distribution   Income ST Cap Gains LT Cap Gains Return of Capital

Past distributions are not indicative of future distributions.
Click here, for the most recent distributions.



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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

Holdings

as of 04-Feb-2016

Issuer Weight (%)

as of 04-Feb-2016

Name ISIN Weight (%) Sector SEDOL Market Value Price Maturity Coupon (%) Duration Notional Value YTM (%) Yield to Call (%) Yield to Worst (%) Par Value
JPMORGAN CHASE & CO MTN US46623EKD03 2.01 Banking BW39CQ7 $1,655,662 99.93 Mar 1, 2018 1.70 1.99 1,655,661.97 1.74 - 1.74 1,645,000.00
BLK CSH FND TREASURY SL AGENCY US0669224778 1.79 Cash and/or Derivatives - $1,472,281 1.00 - 0.43 0.00 1,472,280.65 0.00 - 0.00 1,472,281.00
MERRILL LYNCH & CO INC MTN US59018YN641 1.60 Banking B2R46W2 $1,317,144 110.11 Apr 25, 2018 6.88 2.06 1,317,144.13 2.19 - 2.19 1,176,000.00
GOLDMAN SACHS GROUP INC US38141GFM15 1.13 Banking B2QKDK8 $924,962 108.41 Apr 1, 2018 6.15 2.01 924,961.50 2.14 - 2.14 837,000.00
BANK OF AMERICA CORP MTN US06051GFR56 0.97 Banking BXNSZY0 $801,312 99.72 May 12, 2018 1.95 2.21 801,311.88 2.08 - 2.08 800,000.00
MORGAN STANLEY MTN US6174467U70 0.94 Banking B9NSB44 $775,310 99.84 Apr 25, 2018 2.13 2.21 775,310.13 2.15 - 2.15 772,000.00
CREDIT SUISSE NEW YORK NY MTN US22546QAT40 0.91 Banking BVRZCD1 $749,796 99.95 Jan 29, 2018 1.75 1.95 749,796.28 1.78 - 1.78 750,000.00
GOLDMAN SACHS GROUP INC/THE US38147MAA36 0.90 Banking BCDL3R1 $741,260 101.84 Jul 19, 2018 2.90 2.37 741,259.55 2.13 - 2.13 727,000.00
APPLE INC US037833AJ95 0.88 Technology B8HTN40 $722,049 99.48 May 3, 2018 1.00 2.21 722,049.21 1.24 - 1.24 724,000.00
WELLS FARGO & COMPANY US94974BFG05 0.86 Banking B8JB0N2 $704,170 99.95 Jan 16, 2018 1.50 1.92 704,170.02 1.53 - 1.53 704,000.00
Name Weight (%) ISIN SEDOL Asset Class Sector Market Value Price Coupon (%) Maturity Duration Notional Value YTM (%) Yield to Call (%) Yield to Worst (%) Par Value
Holdings are subject to change.

Exposure Breakdowns

as of 04-Feb-2016

% of Market Value

Banking

36.5%

Consumer Non-Cyclical

13.9%

Energy

7.7%

Consumer Cyclical

7.5%

Technology

7.0%

Communications

6.1%

Capital Goods

5.6%

Other/Undefined

5.4%

Electric

5.3%

Insurance

3.0%

Basic Industry

2.0%

as of 04-Feb-2016

  • 85
  • 68
  • 51
  • 34
  • 17
  • 0

1.61

13.67

84.72

  • Cash and Derivatives

  • 1 - 2 Years

  • 2 - 3 Years

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 04-Feb-2016

% of Market Value

Cash and/or Derivatives

1.6%

AAA Rated

1.7%

AA Rated

14.6%

A Rated

42.4%

BBB Rated

39.7%

BB Rated

0.0%

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.

KEY FACTS

Net Assets

as of 05-Feb-2016

$82,185,930
Inception Date May 28, 2014
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index Barclays December 2018 Maturity Corporate Index
Index Ticker BDM1TRUU

Expense Ratio

as stated in the prospectus

0.10%

Shares Outstanding

as of 05-Feb-2016

3,300,000
CUSIP 46434VAA8
Number of Holdings  

as of 04-Feb-2016

410
Closing Price  

as of 05-Feb-2016

25.03
Mid-Point Price  

as of 05-Feb-2016

25.02
Premium/Discount  

as of 05-Feb-2016

0.46%
Options Available No
20 Day Avg. Volume  

as of 05-Feb-2016

9,122
Daily Volume  

as of 05-Feb-2016

976

PORTFOLIO CHARACTERISTICS

Equity Beta  

as of 31-Dec-2015

-0.02
Standard Deviation (3y)  

as of -

-

Distribution Yield  

as of 04-Feb-2016

1.63%
30 Day SEC Yield  

as of 04-Feb-2016

2.03%
12m Trailing Yield  

as of 04-Feb-2016

1.54%

Weighted Avg Coupon  

as of 04-Feb-2016

3.08%
Effective Duration  

as of 04-Feb-2016

2.22 yrs
Weighted Avg Maturity  

as of 04-Feb-2016

2.31 yrs
Weighted Avg YTM  

as of 04-Feb-2016

2.10%
Option Adjusted Spread  

as of 04-Feb-2016

131 bps

This information must be preceded or accompanied by a current prospectus. For standardized performance, please click on the "Returns" tab above.

FEES as of current prospectus

Expense Ratio   0.10%
Management Fee 0.10%
Acquired Fund Fees and Expenses   0.00%
Foreign Taxes and Other Expenses 0.00%

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 05-Feb-2016) used in the calculation is $24.90. The value you enter should correspond to your estimated market purchase price as of 05-Feb-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.
Calculate

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 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.  

As of 02/05/16  
Price $25.03
  1.97%
Modified Duration   2.32 years

Spread of ACF Yield (1.97%) over 2 yr Treasury Yield (0.71%) as of 02/05/16 is + 125 bps  



Results generated are for illustrative purposes only and are not representative of any specific investments outcome. For standardized performance, please click the ‘returns’ tab above.

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments.

The iShares® iBonds® ETFs ("Funds") will terminate on or about December 31 of the year in each Fund’s name. An investment in the Fund(s) is not guaranteed, and an investor may experience losses, including near or at the termination date. Unlike a direct investment in a bond that has a level coupon payment and a fixed payment at maturity, the Fund(s) will make distributions of income that vary over time. In the final months of each Fund’s operation, as the bonds it holds mature, its portfolio will transition to cash and cash-like instruments. As a result, its yield will tend to move toward prevailing money market rates, and may be lower than the yields of the bonds previously held by the Fund and lower than prevailing yields in the bond market.

Following the Fund’s termination date, the Fund will distribute substantially all of its net assets, after deduction of any liabilities, to then-current investors without further notice and will no longer be listed or traded. The Funds’ distributions and liquidation proceeds are not predictable at the time of investment and the Funds do not seek to return any predetermined amount.

The rate of Fund distribution payments may adversely affect the tax characterization of an investor’s returns from an investment in the Fund relative to a direct investment in bonds. If the amount an investor receives as liquidation proceeds upon the Fund’s termination is higher or lower than the investor’s cost basis, the investor may experience a gain or loss for tax purposes.

Investment in the iShares® iBonds® Corporate ETFs is subject to the risks of the other funds and ETFs (underlying funds) in which it invests. The iShares® iBonds® Corporate ETFs will incur acquired fund fees and expenses associated with its investments the underlying funds and additional fees associated with turnover in the underlying funds that are not included in the acquired fund fees and expenses.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you would receive if you traded shares at other times.

Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Certain sectors and markets perform exceptionally well based on current market conditions and iShares Funds can benefit from that performance. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such results will be repeated.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

Although 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.



The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Cohen & Steers Capital Management, Inc., European Public Real Estate Association (“EPRA® ”), FTSE International Limited (“FTSE”), India Index Services & Products Limited, JPMorgan Chase & Co., Japan Exchange Group, MSCI Inc., Markit Indices Limited, Morningstar, Inc., The NASDAQ OMX Group, Inc., National Association of Real Estate Investment Trusts (“NAREIT”), New York Stock Exchange, Inc., Russell Investment Group or S&P Dow Jones Indices LLC, nor are they sponsored, endorsed or issued by Barclays Capital Inc. None of these companies make any representation regarding the advisability of investing in the Funds. BlackRock is not affiliated with the companies listed above. Index data related to the underlying indexes is provided by the respective companies above.

Neither FTSE nor NAREIT makes any warranty regarding the FTSE NAREIT Real Estate 50 Index, FTSE NAREIT All Residential Capped Index or FTSE NAREIT All Mortgage Capped Index; all rights vest in NAREIT. Neither FTSE nor NAREIT makes any warranty regarding the FTSE EPRA/NAREIT Developed Real Estate ex-U.S. Index, FTSE EPRA/NAREIT Developed Europe Index or FTSE EPRA/NAREIT Global REIT Index; all rights vest in FTSE, NAREIT and EPRA.“FTSE®” is a trademark of London Stock Exchange Group companies and is used by FTSE under license.

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