Fixed Income

MUB

iShares National Muni Bond ETF

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

Record Date Ex-Date Payable Date
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Premium/Discount

  1y 3y 5y 10y Incept.
3.67 3.87 3.47 3.52 4.03
Market Price (%) 3.89 3.95 3.52 3.54 4.05
Benchmark (%) 3.67 4.01 3.70 3.78 4.19
After Tax Pre-Liq. (%) 3.67 3.87 3.47 3.52 4.03
After Tax Post-Liq. (%) 3.10 3.53 3.22 3.34 3.81
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
3.06 -0.12 0.94 3.45 3.67 12.07 18.61 41.40 67.63
Market Price (%) 3.30 0.13 0.99 3.61 3.89 12.32 18.91 41.64 67.98
Benchmark (%) 3.03 -0.12 1.01 3.48 3.67 12.52 19.90 44.88 71.05
After Tax Pre-Liq. (%) 3.06 -0.12 0.94 3.45 3.67 12.07 18.60 41.36 67.55
After Tax Post-Liq. (%) 2.42 0.00 0.77 2.49 3.10 10.96 17.14 38.90 62.97
  2015 2016 2017 2018 2019
Total Return (%) 2.99 0.06 4.61 0.86 7.28
Market Price (%) 2.88 -0.12 4.68 0.93 7.06
Benchmark (%) 3.26 0.36 5.09 1.01 7.42
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.

Key Facts

Key Facts

Net Assets as of Dec 03, 2020 $19,598,827,244
Inception Date Sep 07, 2007
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index S&P National AMT-Free Municipal Bond Index
Bloomberg Index Ticker SPMUNUST
Shares Outstanding as of Dec 03, 2020 168,300,000
Premium/Discount as of Dec 03, 2020 0.21%
CUSIP 464288414
Closing Price as of Dec 04, 2020 116.74
Options Available Yes
30 Day Avg. Volume as of Dec 03, 2020 1,388,292.00
30 Day Median Bid/Ask Spread as of Dec 03, 2020 0.01%
Daily Volume as of Dec 04, 2020 981,709.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Dec 03, 2020 4,534
Equity Beta (3y) as of Oct 31, 2020 0.03
30 Day SEC Yield as of Dec 03, 2020 1.00%
Average Yield to Maturity as of Dec 03, 2020 1.01%
Standard Deviation (3y) as of Oct 31, 2020 3.89%
12m Trailing Yield as of Dec 03, 2020 2.15%
Tax Equiv. SEC Yield as of Dec 03, 2020 1.77%
Weighted Avg Coupon as of Dec 03, 2020 4.65%
Effective Duration as of Dec 03, 2020 6.06 yrs
Weighted Avg Maturity as of Dec 03, 2020 5.34 yrs
Convexity as of Dec 03, 2020 0.12
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% of the fund’s gross weight must come from securities covered 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. For newly launched funds, sustainability characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

Fees

Fees

as of current prospectus
Management Fee 0.07%
Acquired Fund Fees and Expenses 0.00%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio 0.07%

Holdings

Holdings

as of Dec 03, 2020
Issuer Weight (%)
CALIFORNIA (STATE OF) 6.74
DORMITORY AUTHORITY OF STATE OF NEW YORK 4.59
NEW YORK CITY TRANSITIONAL FIN AUTH 3.86
MASSACHUSETTS (COMMONWEALTH OF) 2.76
NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY 2.64
Issuer Weight (%)
NEW YORK N Y 2.62
NEW JERSEY ST TRANSN TR FD AUTH 2.48
METROPOLITAN TRANSPORTATION AUTHORITY 2.12
NEW YORK ST URBAN DEV CORP 1.75
CONNECTICUT (STATE OF) 1.73
Name Sector Asset Class Market Value Weight (%) Notional Value Par Value CUSIP ISIN SEDOL Price Location Exchange Currency Duration YTM (%) FX Rate Maturity Coupon (%) Mod. Duration Yield to Call (%) Yield to Worst (%) Real Duration Real YTM (%) Market Currency
Holdings are subject to change.

Non-U.S. securities whose values are affected by volatility that occurs in global markets or in related or highly correlated assets (e.g., American Depositary Receipts, Global Depositary Receipts or substantially identical ETFs) on a trading day after the close of non-U.S. securities markets may be fair valued. On days where non-U.S. securities markets are closed, BlackRock Fund Advisors, an affiliate of BlackRock Investments, LLC, will determine the fair value of the stocks traded on that local market, in accordance with policies and procedures approved by the Fund’s Board of Directors/Trustees. Fair value adjustments may be calculated by referring to instruments and markets that have continued to trade, such as exchange-traded funds, correlated stock market indices or index futures. Please see the Determination of Net Asset Value section of each Fund’s prospectus for additional information on the Fund’s valuation policies and procedures.

Exposure Breakdowns

Exposure Breakdowns

as of Dec 03, 2020

% of Market Value

Type Fund
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 Dec 03, 2020

% of Market Value

Type Fund
as of Dec 03, 2020

% of Market Value

Type Fund
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.
Where bond ETFs are going is important
It took 17 years for global bond ETF assets to reach $1 trillion. BlackRock believes assets will double, to $2 trillion, by 2024.

For financial professionals only
Read why Read why
Primed for Growth - Bond ETFs and the path to $2 trillion

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.

As of 12/04/20
Price $116.74
1.25%
Modified Duration 4.72 years

Spread of ACF Yield (1.25%) over 5.00 yr Treasury Yield (0.41%) As of 12/04/20 is + 85 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.

Literature

Literature

 

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