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iShares Flexible Income Active ETF

BINC:
FIND INCOME IN NEW PLACES

Traditional bonds haven't been diversifying portfolios as they should. Get access to hard-to-reach bond sectors with iShares Flexible Income Active ETF (BINC), led by Rick Rieder, 2023 Morningstar Portfolio Manager of the Year.*

FLEXING FOR INCOME ACROSS MARKET ENVIRONMENTS

Today's elevated yield environment may offer clients an opportunity to reduce risk and increase yield in their portfolios. Consider moving beyond traditional core bonds with BINC.

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STRIVES TO MAXIMIZE INCOME

BINC's management team seeks to maximize income across a broad range of global fixed income sectors, unconstrained by traditional benchmarks.

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DIVERSIFIED RISK

Dynamically rotates risk across "plus sectors" of the fixed income market, like high yield, emerging market debt, collateralized loans and securitized assets, to pursue consistent, high income.

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EXPERIENCED INVESTMENT TEAM

BlackRock’s Fundamental Fixed Income team, led by Rick Rieder, combines macro analysis, sector insights, and dedicated risk oversight to pursue income across a full market cycle.

PERFORMANCE & FEES

6.16%

12 MONTH TRAILING YIELD

5.75%

30 DAY SEC YIELD
Unsubsidized 30-Day SEC Yield 5.59% As of January 14, 2025

3.12%

ANNUALIZED VOLATILITY
53% less volatility than the U.S. Universal Index (6.66%) and 25% less volatility than the U.S. High Yield BB Index (4.17%). As of 12/31/2024.

Performance data represents past performance and does not guarantee future results. Investment return and principal value will fluctuate with market conditions and may be lower or higher when you sell your shares. Current performance may differ from the performance shown. For most recent month-end performance and standardized performance, click here.

Caption:

Table showing net/gross expense ratio for the iShares Flexible Income Active ETF fund.

iSHARES FLEXIBLE INCOME ACTIVE ETF (BINC) FUND FEES
Net / gross expense ratio 0.40% / 0.52%†
Average Morningstar Multisector Bond Category fee 0.99%

†Fund fees as of the current prospectus dated November 27, 2024. The amounts shown may not include extraordinary expenses incurred by the Fund over the past fiscal year. BlackRock Fund Advisors, the investment adviser to the Fund and an affiliate of BlackRock Investments, LLC, has contractually agreed to waive a portion of its management fees through Jun 30, 2026. Please see the Fund’s prospectus for additional details.

Average Morningstar Multisector Bond Category fee is calculated as the mean prospectus net expense ratio from a comparison universe of 381 mutual funds and ETFs from the Morningstar Multisector Bond Category as of 12/31/2024.

Annualized volatility is measured through standard deviation.

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SEE HOW BINC FITS IN YOUR PORTFOLIO

Portfolios may benefit from an even split between core bonds and "plus" sectors with BINC. Upload your current portfolio to 360° Evaluator, add BINC, and view the impact on fees, performance and more.

LIMITS RISK WHILE OPTIMIZING INCOME

Today's high real yields make bonds enticing, but choose wisely. Traditional, long-term bonds have been closely correlated to stocks in recent years, making 'plus' bond sectors more attractive. Since inception, BINC has returned more than 1.5x the Universal and U.S. Aggregate with less than 30% of the maximum drawdown.

Source: Bloomberg, BlackRock, 5/19/2023 - 12/31/2024.

Performance data represents past performance and does not guarantee future results. Investment return and principal value will fluctuate with market conditions and may be lower or higher when you sell your shares. Current performance may differ from the performance shown. For most recent month-end performance view the ticker page here. Index performance is for illustrative purposes only and does not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Max drawdown defined as largest peak to trough move down in price over any period since BINC inception 5/19/2023.

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MANAGED BY AN AWARD WINNING TEAM

Rick Rieder, Chief Investment Officer of Global Fixed Income, and portfolio manager for BINC is a winner of the 2023 Morningstar Award for Investing Excellence, Outstanding Portfolio Manager.*

We aim to bridge the gap between actively managed mutual funds and the benefits of ETFs with iShares active ETFs. 

BlackRock’s portfolio managers combine their deep insight and expertise alongside intraday liquidity into a one-ticker solution. Investors can now access these opportunities when they seek broader portfolio diversification and income generation in their quest for alpha. 

Innovation, flexibility and expertise combined with the convenience of an ETF.

Like BINC, an active fixed income solution that seeks to provide access to harder-to-reach fixed income sectors through an experienced investment team led by Rick Rieder, Morningstar’s 2023 Outstanding Portfolio Manager.

Get active today.

FREQUENTLY ASKED QUESTIONS

BINC ETF is managed by Rick Rieder, BlackRock’s Global Chief Investment Officer for Fixed Income and Morningstar’s 2023 Outstanding Portfolio Manager. Rick leads a highly experienced investment team within BlackRock’s Fundamental Fixed Income platform. The team employs a research-focused approach that combines macro analysis, insights from sector specialist teams, and oversight from dedicated risk managers. This time-tested approach has led to attractive income generation across different market cycles, with clients entrusting over $2.4 trillion in assets to the team as of October 2024.

BINC ETF is a nimble active ETF that focuses on the “plus sectors,” allocating across high yield (HY), collateralized loan obligations (CLOs), securitized assets, and emerging market debt (EMD). BINC ETF provides direct access to harder-to-reach fixed income sectors through the deep expertise of BlackRock’s Fundamental Fixed Income platform. Its diversified strategy seeks to take advantage of relative value across income-producing sectors in global fixed income markets to help seek superior risk-adjusted yield regardless of market dynamics.

Fund exposure by sector breakdown as of January 21,2025.

  • Non-US Credit: 25%
  • US High Yield Credit: 15.4%
  • CLO Securities: 10.69%
  • Commercial Mortgages: 9.73%
  • Non-Agency Mortgages: 9.62%
  • Agency Residential Mortgages: 9.43%
  • US Investment Grade Credit: 6.04%
  • Emerging Markets: 5.73%
  • Bank Loans: 5.61%
  • ABS: 5.36%
  • Other Securities: 0.6%
  • Non-US Sovereign: 0.37%
  • US Interest Rate Derivatives: 0.33%
  • US Municipals: 0.05%
  • Net Derivatives: 0%
  • Cash: -3.96%

Active ETFs typically offer greater transparency, intraday liquidity, and may be more tax-efficient than other investment vehicles. BlackRock aims to build a comprehensive and complementary investment platform to its existing index ETF and active mutual fund suites, providing clients with a full set of tools to invest based on their preferences. The iShares Flexible Income Active ETF (BINC) strives to meet these needs effectively.

Yields are currently at multi-decade highs, and global central banks are at an inflection point with their monetary policy decisions. Market volatility continues, and many investors are sitting on cash at unprecedented rates. This environment provides attractive opportunities for fixed income investments, as elevated yields might offer a counterbalance in a spread widening scenario. Additionally, elevated dispersion allows for greater relative value opportunities. BINC ETF, an active fixed income ETF, seeks to capitalize on these evolving opportunities across the full multisector fixed income opportunity set.

BINC ETF fits into the income solution portion of the BlackRock bond pyramid. It can be used in a broader fixed income allocation to help clients achieve attractive risk-adjusted yield and as a complement to core exposures. Due to its multisector nature, BINC ETF may also provide greater diversification than holding static allocations to higher-risk sectors like emerging market debt or high yield. As an income focused ETF, BINC offers a flexible approach as it seeks to capture high yield ETF dividends.

View BINC ETF in 360° Evaluator >

BINC ETF offers a very competitive cost with a net expense ratio of 0.40% compared to the Multisector Bond category average of 0.77%. According to the current prospectus, the fees are as follows:

  • Management Fee: 0.50%
  • Acquired Fund Fees and Expenses: 0.02%
  • Other Expenses: 0.00%
  • Expense Ratio: 0.52%
  • Fee Waivers: 0.12%*
  • Net Expense Ratio: 0.40%

*BlackRock Fund Advisors, the investment adviser to the Fund and an affiliate of BlackRock Investments, LLC, has contractually agreed to waive a portion of its management fees through June 30, 2026. Please see the Fund’s prospectus for additional details.

EXPOSURE BREAKDOWNS

Source: BlackRock, as of January 21, 2025.

Allocations are subject to change.

Source: BlackRock, as of January 21, 2025.

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.

Source: BlackRock, as of January 21, 2025.

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.

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GET STARTED

Contact us at 1-877-275-1255 to speak with a specialist who can review your portfolios, identify potential optimizations, prepare client-friendly reports, and more.