Fixed Income

iShares US Corporate Bond Index Fund (IE)

Overview

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest (also known as the ‘coupon’) and behave similarly to a loan. These securities are therefore exposed to changes in interest rates which will affect the value of any securities held. The fund invests in fixed interest securities issued by companies which, compared to bonds issued or guaranteed by governments, are exposed to greater risk of default in the repayment of the capital provided to the company or interest payments due to the fund. The fund investments may be subject to liquidity constraints, which means that shares may trade less frequently and in small volumes, for instance smaller companies. As a result, changes in the value of investments may be more unpredictable. In certain cases, it may not be possible to sell the security at the last market price quoted or at a value considered to be fairest. The fund invests in a limited number of market sectors. Compared to investments which spread investment risk through investing in a variety of sectors, share price movements may have a greater effect on the overall value of this fund.

All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company

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Performance

Performance

Chart

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This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 6.5 -0.3 5.4 5.7 -1.6 13.3 9.4 -1.0 -14.7 8.3
Benchmark (%) 6.4 -0.3 5.2 5.7 -1.7 13.0 9.4 -1.0 -14.8 8.2

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  From
31-Mar-2019
To
31-Mar-2020
From
31-Mar-2020
To
31-Mar-2021
From
31-Mar-2021
To
31-Mar-2022
From
31-Mar-2022
To
31-Mar-2023
From
31-Mar-2023
To
31-Mar-2024
Total Return (%)

as of 31/Mar/2024

5.23 7.94 -4.08 -5.00 4.24
Benchmark (%)

as of 31/Mar/2024

5.15 7.80 -4.37 -5.01 4.24
  1y 3y 5y 10y Incept.
4.28 -2.40 1.04 2.21 4.56
Benchmark (%) 4.19 -2.47 0.95 2.14 4.51
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-0.97 1.67 0.53 2.94 4.28 -7.02 5.30 24.49 187.29
Benchmark (%) -0.89 1.77 0.54 3.10 4.19 -7.24 4.83 23.62 184.30

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in USD, hedged share class benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Net Assets
as of 11/Jun/2024
USD 740,059,581
Share Class launch date
30/Sept/2000
Share Class Currency
USD
Asset Class
Fixed Income
SFDR Classification
Other
Ongoing Charges Figures
0.03%
Annual Management Fee
0.00%
Minimum Initial Investment
USD 500,000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
USD Corporate Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
0040705
Net Assets of Fund
as of 11/Jun/2024
USD 1,566,097,382
Fund Launch Date
01/Sept/2000
Fund Base Currency
USD
Benchmark Index
FTSE Euro Dollar Bond Index (USD)
Initial Charge
0.00%
ISIN
IE0000407050
Performance Fee
0.00%
Minimum Subsequent Investment
USD 50,000.00
Domicile
Ireland
Management Company
BlackRock Asset Management Ireland Limited
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BARUSCA

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 31/May/2024
5867
3y Beta
as of 31/May/2024
1.017
Modified Duration
as of 31/May/2024
6.56
Effective Duration
as of 31/May/2024
6.50
WAL to Worst
as of 31/May/2024
10.04
Standard Deviation (3y)
as of 31/May/2024
8.60%
Yield to Maturity
as of 31/May/2024
5.55
Weighted Average YTM
as of 31/May/2024
5.52%
Weighted Avg Maturity
as of 31/May/2024
10.04

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for iShares US Corporate Bond Index Fund (IE), Flex, as of 31/May/2024 rated against 317 USD Corporate Bond Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - GOLD
Morningstar has awarded the Fund a Gold medal. (Effective 30/Apr/2024)

Holdings

Holdings

as of 31/May/2024
Name Weight (%)
FEDERAL HOME LOAN BANKS 0.5 04/14/2025 0.12
INTERNATIONAL BANK FOR RECONSTRUCT MTN 1.625 11/03/2031 0.12
INTERNATIONAL BANK FOR RECONSTRUCT MTN 2.5 07/29/2025 0.10
FNMA BENCHMARK NOTE 7.25 05/15/2030 0.10
ANHEUSER-BUSCH COMPANIES LLC 4.9 02/01/2046 0.10
Name Weight (%)
CVS HEALTH CORP 5.05 03/25/2048 0.09
T-MOBILE USA INC 3.875 04/15/2030 0.09
EUROPEAN INVESTMENT BANK 3.75 02/14/2033 0.08
KFW 3.75 02/15/2028 0.08
EUROPEAN INVESTMENT BANK 0.375 03/26/2026 0.08
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 31/May/2024

% of Market Value

Type Fund Benchmark Net
as of 31/May/2024

% of Market Value

Type Fund Benchmark Net
as of 31/May/2024

% of Market Value

Type Fund Benchmark Net
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Allocations are subject to change.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Flex USD 29.00 0.11 0.38 11/Jun/2024 29.18 26.35 IE0000407050
Class Flexible Hedged EUR 9.72 0.04 0.38 11/Jun/2024 9.85 8.95 IE00BYVZVL92
Class Flexible Hedged SEK 10.13 0.04 0.38 11/Jun/2024 10.28 9.35 IE00BD0DT917
Inst USD 17.78 0.07 0.38 11/Jun/2024 17.89 16.17 IE00B1W4R501
Flex GBP 10.31 0.04 0.38 11/Jun/2024 10.39 9.41 IE0003NA3WI1
Flex USD 8.85 0.03 0.38 11/Jun/2024 9.08 8.20 IE00BYQQ0Z40
Inst Hedged EUR 9.15 0.03 0.38 11/Jun/2024 9.28 8.43 IE00BL6VHD58
Class D Acc EUR 12.33 0.06 0.49 11/Jun/2024 12.33 11.29 IE00BDZRPS94
Class D USD 11.47 0.04 0.38 11/Jun/2024 11.54 10.43 IE00BD0NC706

Portfolio Managers

Portfolio Managers

Darren Wills
Darren Wills

Literature

Literature