Fixed Income

BIDKX

iShares Municipal Bond Index Fund

  • NAV as of Sep 20, 2023 $10.72
    52 WK: 10.33 - 11.17
  • 1 Day NAV Change as of Sep 20, 2023 0.01 (0.09%)
  • NAV Total Return as of Sep 20, 2023 YTD: 1.19%

Overview

Investment Approach

Seeks to provide investment results that correspond to the total return performance of fixed-income securities in the aggregate, as represented by the ICE BofAML U.S. Municipal Securities Index.
Loading

Performance

Performance

Growth of Hypothetical $10,000

Performance chart data not available for display.
View full chart

Cum. Fund Perf. Since Inception: 125.85

Distributions

Record Date Ex-Date Payable Date
View full table
Record Date Ex-Date Payable 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.



  1y 3y 5y 10y
Total Return (%) 3.34 -0.50 1.85 2.55
Benchmark (%) 3.11 -0.56 1.82 2.76
Morningstar Category Avg. (%) 2.64 -0.49 1.43 2.08
Morningstar Ranking 53/301 130/272 - -
Morningstar Quartile 1 2 1 1
Lipper Ranking 61/301 100/283 - -
Lipper Quartile 1 2 - -
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 2.87 0.89 0.01 3.34 -1.50 9.60 28.58
Benchmark (%) 2.84 0.91 0.02 3.11 -1.67 9.43 31.30
Morningstar Category Avg. (%) 2.27 0.79 -0.05 2.64 -1.47 7.36 22.89
  2018 2019 2020 2021 2022
Total Return (%) 1.27 7.57 5.00 1.67 -8.57
Benchmark (%) 1.04 7.74 5.26 1.83 -9.04
Morningstar Category Avg. (%) 0.78 6.91 4.51 1.67 -8.23

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

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.

The Fund’s returns prior to November 19, 2018 reflect the performance of the State Farm Tax Advantaged Bond Fund (the “Predecessor Fund”). Effective November 19, 2018, the Fund adopted the performance of the Predecessor Fund as a result of a reorganization in which the Fund acquired all of the assets and assumed certain stated liabilities of the Predecessor Fund. Performance shown is based on the investment objective and investment strategies utilized by the Predecessor Fund, which differed from those of the Fund. The Predecessor Fund was managed by a different investment adviser and had a different portfolio management team from that of the Fund. The performance information for periods prior to November 19, 2018 is dated based on the performance of Investor A Shares of the Fund (which, for periods current for period prior to November 19, 2018, reflect the performance of Premier Shares of the Predecessor Fund).

Key Facts

Key Facts

Net Assets as of Sep 20, 2023 $93,309
Net Assets of Fund as of Sep 20, 2023 $255,637,327
Share Class launch date Nov 16, 2018
Asset Class Fixed Income
Benchmark Index ICE BofA US Municipal Securities Index (USD)
Distribution Frequency Monthly
Morningstar Category Muni National Interm
Lipper Classification Gen & Ins Muni Debt Fds
CUSIP 09258N331
Max Offer Price as of Sep 20, 2023 $10.72
Open to New Investors Yes
Turnover Percent in the Annual Report 21.00%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Aug 31, 2023 291
30 Day SEC Yield as of Aug 31, 2023 3.54%
Alpha (3y) as of Aug 31, 2023 0.00
Yield to Maturity as of Aug 31, 2023 4.18%
R-Squared (3y) as of Aug 31, 2023 99.84
Fund Standard Deviation (3y) as of Aug 31, 2023 6.29
Beta (3y) as of Aug 31, 2023 0.99
Average Coupon as of Aug 31, 2023 4.43%
Unsubsidized 30-Day SEC Yield as of Aug 31, 2023 3.48%
Yield to Worst as of Aug 31, 2023 3.82%
Effective Duration as of Aug 31, 2023 7.01 yrs
WAL to Worst as of Aug 31, 2023 8.60 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2023 8.10%
Worst 3-Month Return Over the Last 3 Years 3 months ending Oct 31, 2022 -6.74%
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. MSCI Ratings are currently unavailable for this fund.

Fees

Fees

Gross Expense Ratio 0.32%
Net Expense Ratio 0.20%

Net Expense Ratio excluding Investment Related Expenses is 0.20%

  • Acquired Fund Fees and Expenses 0.00%
  • Interest expense 0.00%

Ratings

Ratings

Lipper Leader

 
 
 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Aug 31, 2023 out of 276, 6,245, 278, 126 and 277 Funds, respectively in Lipper's Gen & Ins Muni Debt Fds classification.

Morningstar Medalist Rating

Morningstar Medalist Rating - GOLD
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective Jul 31, 2023)

Holdings

Holdings

as of Aug 31, 2023
Name Weight (%)
DENVER COLO CITY & CNTY ARPT R 5.5 11/15/2029 1.29
NEW YORK N Y CITY TRANSITIONAL 5 02/01/2032 1.00
NEW YORK N Y CITY MUN WTR FIN 5 06/15/2035 0.99
GOLDEN ST TOB SECURITIZATION C 5 06/01/2034 0.97
SAN DIEGO CALIF UNI SCH DIST 5 07/01/2047 0.84
Name Weight (%)
OHIO ST WTR DEV AUTH WTR POLLU 5 12/01/2028 0.84
WASHINGTON ST HEALTH CARE FACS 5 10/01/2038 0.83
METROPOLITAN TRANSN AUTH N Y R 5 11/15/2034 0.81
UTILITY DEBT SECURITIZATION AU 5 12/15/2041 0.78
NORTH TEX TWY AUTH REV 5 01/01/2043 0.73
Name Market Value Weight (%) Shares
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.

Exposure Breakdowns

Exposure Breakdowns

as of Aug 31, 2023

% of Market Value

Type Fund Benchmark Net
as of Aug 31, 2023

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Aug 31, 2023

% of Market Value

Type Fund Benchmark Net
as of Aug 31, 2023

% of Market Value

Type Fund Benchmark Net
as of Aug 31, 2023

% of Market Value

Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. 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.

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. Certain transactions the funds may utilize may give rise to a form of leverage through either (a) additional market exposure or (b) borrowing capital in an attempt to increase investment return. The use of such transactions includes certain leverage-related risks, including potential for higher volatility, greater decline of the fund’s net asset value and fluctuations of dividends and distributions paid by the fund.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

James Mauro
James Mauro
Karen Uyehara
Karen Uyehara
Core Portfolio Manager, Systematic Fixed Income

  

Read More

Karen Uyehara, Managing Director and portfolio manager, is a member of the North America Core Portfolio Management (Core PM) within Global Fixed Income. She is responsible for managing US-based fixed income indexed and iShares funds.

 

Prior to joining BlackRock in 2010, Ms. Uyehara was most recently a portfolio manager at Western Asset Management Company (WAMCO) where she was responsible for the management of core and core plus portfolios. Earlier in her career, Ms. Uyehara worked at Pacific Investment Management Company (PIMCO), Barclays Global Investors (BGI) and Lehman Brothers.

 

Ms. Uyehara earned a BA degree with a double major in economics and history from the University of California at San Diego in 1995 and an MBA degree in finance and investments from the University of Southern California in 2002.

Portfolio Manager

Literature

Literature

Loading fund documents...
No documents found

to access this functionality 

Checkout {{ translations['submit'][selectedAction] }} {{ responseMessage }} {{ warningMessage }} You have previously requested to be opted out of all BlackRock Literature Services emails. To subscribe, you must opt back in.