Fixed Income

SECU

iShares Securitized Income Active ETF ACTIVE

  • NAV as of Jan 29, 2026 $50.10
    52 WK: 48.83 - 50.32
  • 1 Day NAV Change as of Jan 29, 2026 $0.05 (0.09%)
  • NAV Total Return as of Jan 28, 2026 YTD: 0.36%
  • Fees as stated in the prospectus Expense Ratio: 0.40%

Overview

Why SECU?

1. Turnkey access to the broad securitized market: SECU provides convenient access to a curated opportunity set selected from the wider securitized asset complex, including non-agency residential and commercial mortgage-backed securities (RMBS and CMBS), infrastructure, commercial and consumer asset-backed securities (ABS) and collateralized loan obligations (CLOs).

 

2. Backed by deep securitized investing expertise: Managed by a robust team of professionals with expertise across all sub-sectors of securitized assets and decades of experience working together, backed by BlackRock’s Global Fixed Income platform.

 

3. Designed to generate income and diversification in fixed income portfolios: Securitized assets offer attractive income potential and diversification benefits relative to other core fixed income sectors across market cycles.

INVESTMENT OBJECTIVE

The investment objective of iShares Securitized Income Active ETF (the “Fund”) is to seek high total return.
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Performance

Performance

Distributions

This fund does not have any distributions.
Record Date Ex-Date Payable Date Total Distribution

Premium/Discount

View full chart
  1y 3y 5y 10y
Total Return (%)

as of Dec 31, 2025

8.32 6.89 1.60 2.65
Market Price (%)

as of Dec 31, 2025

8.32 6.89 1.60 2.65
After Tax Pre-Liq. (%)

as of Dec 31, 2025

5.81 4.50 -0.22 1.01
After Tax Post-Liq. (%)

as of Dec 31, 2025

4.88 4.24 0.41 1.30
  YTD 1m 3m 6m 1y 3y 5y 10y
Total Return (%)

as of Dec 31, 2025

8.32 0.22 1.55 3.70 8.32 22.12 8.26 29.91
Market Price (%)

as of Dec 31, 2025

8.32 0.22 1.55 3.70 8.32 22.12 8.26 29.91
After Tax Pre-Liq. (%)

as of Dec 31, 2025

5.81 -0.09 0.87 2.45 5.81 14.12 -1.10 10.61
After Tax Post-Liq. (%)

as of Dec 31, 2025

4.88 0.13 0.92 2.18 4.88 13.25 2.07 13.76
  2021 2022 2023 2024 2025
Total Return (%) 2.59 -13.58 6.40 5.96 8.32
Market Price (%) 2.59 -13.58 6.40 5.96 8.32
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.
Prior to close of business on 01/23/2026, the Fund operated as an open-end mutual fund. The Fund has an identical investment objective and substantially similar investment strategies and investment risk profiles as the predecessor mutual fund. Performance for the periods prior to 08/05/25 shown below is based on the investment strategies utilized by the predecessor mutual fund when it followed different investment strategies under the name “BlackRock U.S. Mortgage Portfolio.” Performance for the periods prior to 09/17/2018 shown below was adopted by the predecessor mutual fund through a different reorganization with BlackRock U.S. Mortgage Portfolio, a series of Managed Account Series, which had the same investment objective, investment process and investment strategies as the predecessor mutual fund at the time of such reorganization. The NAV returns are the returns of the Institutional Class Shares of the predecessor mutual fund prior to the Fund's commencement of operations, which had structural, regulatory, expense, and fee differences that may result in performance differences over time. Prior to the Fund's listing on 01/26/2026, the market price performance of the Fund uses the NAV returns of the Institutional Class Shares of the predecessor mutual fund as proxy market price returns. Please refer to the current prospectus for further information.
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Key Facts

Key Facts

Net Assets of Fund
as of Jan 29, 2026
$459,360,904
Exchange
Cboe BZX
Asset Class
Fixed Income
Distribution Frequency
Monthly
CUSIP
092528819
30 Day Avg. Volume
as of Jan 29, 2026
63,560.00
Daily Volume
as of Jan 29, 2026
204,807.00
ETF Inception Date
Jan 23, 2026
Predecessor Mutual Fund Inception Date
Jul 29, 2005
Shares Outstanding
as of Jan 29, 2026
9,168,882
Premium/Discount
as of Jan 29, 2026
0.10%
Closing Price
as of Jan 29, 2026
50.15
30 Day Median Bid/Ask Spread
as of Jan 29, 2026
0.40%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Jan 28, 2026
866
30 Day SEC Yield
as of Jan 28, 2026
5.73%
Standard Deviation (3y)
as of -
-
Weighted Avg Coupon
as of Jan 28, 2026
3.96
Effective Duration
as of Jan 28, 2026
3.37 yrs
Option Adjusted Spread
as of Jan 28, 2026
197.73 bps
Equity Beta (3y)
as of -
-
12m Trailing Yield
as of -
-
Average Yield to Maturity
as of Jan 28, 2026
5.88%
Weighted Avg Maturity
as of Jan 28, 2026
4.63 yrs
Convexity
as of Jan 28, 2026
-0.06
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Management Fee 0.40%
Acquired Fund Fees and Expenses 0.00%
Other Expenses 0.00%
Expense Ratio 0.40%

The amounts shown above are as of the current prospectus, but may not include extraordinary expenses incurred by the Fund over the past fiscal year. Amounts are rounded to the nearest basis point, which in some cases may be "0.00".

Ratings

Holdings

Holdings

as of Jan 28, 2026
Issuer Weight (%)
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.59
FEDERAL HOME LOAN MORTGAGE CORPORATION 1.42
GNMA_22-88D-IA 0.84
GNMA_21-97C-LI 0.67
BX_25-VOLT-A 0.66
Issuer Weight (%)
MDPK_65-A1 0.66
DK_25-LXP-A 0.66
DGWD_25-INFL-A 0.63
NRMLT_22-SFR1-F 0.59
AJAX 2021-C-C 0.59
Ticker Name Type Sector Asset Class Market Value Weight (%) Notional Value Shares 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 Accrual Date Effective Date Strike price
Detailed Holdings and Analytics
Holdings are subject to change.


The values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of systematic fair valuation (“the vendor price”). The vendor price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). Holdings data shown reflects the investment book of record, which may differ from the accounting book of record used for the purposes of determining the Net Assets of the Fund. Notional value represents the portfolio's exposures based on the economic value of investments and options are delta-adjusted. Additionally, where applicable, foreign currency exchange rates with respect to the portfolio holdings denominated in non-U.S. currencies for the valuation price will be generally determined as of the close of business on the New York Stock Exchange, whereas for the vendor price will be generally determined as of 4 p.m. London. The calculated values may have been different if the valuation price were to have been used to calculate such values. The vendor price is as of the most recent date for which a price is available and may not necessarily be as of the date shown above.

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 Jan 28, 2026

% of Market Value

Type Fund
as of Jan 28, 2026

% of Market Value

Type Fund
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product's total holdings, excluding currency holdings. Percentages do not reflect fair valuation. In some instances, percentages may reflect the location where the issuer of the securities carries out much of their business. Bonds are included in U.S. bond indices when the securities are denominated in U.S. dollars regardless of the domicile of the issuer.
as of Jan 28, 2026

% 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 Jan 28, 2026

% 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.

Portfolio Managers

Portfolio Managers

Samir Lakhani
Samir Lakhani
Managing Director, Co-Head of Securitized Assets and Head of Credit
Read More

Samir Lakhani, Managing Director, is co-head of the Securitized Asset Team and Head of Credit within BlackRock’s Global Fixed Income (GFI) platform.

 

Since 2012, Mr. Lakhani has led the CMBS and Senior CRE Debt business and serves as a Lead CMBS / CRE Debt Portfolio Manager. Mr. Lakhani serves as a senior portfolio manager on both the BlackRock Securitized Income Fund and the iShares Flexible Income Active ETF (BINC). Mr. Lakhani is a member of various BlackRock investment committees including the Commercial Mortgage Loan Committee within BlackRock’s GFI platform.

 

Prior to joining BlackRock in 2009, Mr. Lakhani was a Vice President at R3 Capital Partners, where he invested in securitized assets including ABS, CMBS, CLO's and Specialty Finance transactions. Mr. Lakhani held similar roles at Lehman Brothers in their Global Principal Strategies group. Mr. Lakhani joined Lehman Brothers in 2006 initially in Structured Credit Products. Previously, Mr. Lakhani held positions at JP Morgan Partners, in their Private Equity and Mezzanine Debt group, from 2001 to 2004.

 

Mr. Lakhani served on the Board of Governors for the Commercial Real Estate Finance Council (CREFC) from 2012-2018.

 

Mr. Lakhani earned a B.S. Degree in Economics and a B.S. Degree in Engineering, summa cum laude, from the University of Pennsylvania, and an MBA degree from Harvard Business School.

Ibrahim Incoglu
Ibrahim Incoglu
Managing Director, Co-Head of Securitized Assets
Read More

Ibrahim Incoglu, Managing Director, is co-head of the Securitized Asset Team within BlackRock’s Global Fixed Income (GFI) platform.

 

Since 2014, Mr. Incoglu has led the non-Agency RMBS business and serves as the Lead non-Agency RMBS Portfolio Manager. Mr. Incoglu serves as a senior portfolio manager on the BlackRock Securitized Income Fund and is Chair of the Blackrock Housing-Mortgage Finance Economic Committee within BlackRock’s GFI platform.

 

Prior to joining Blackrock in 2009, Mr. Incoglu was a Director at Wachovia Securities where he was responsible for managing the synthetic RMBS desk, market making and hedging activities. From 2003 to 2006, Mr. Incoglu was a senior trader at Wachovia, trading various RMBS products including Jumbo, Alt-A, Sub-Prime and 2nd liens. From 2002 to 2003, Mr. Incoglu was an Associate at Bank of America Securities, where he structured non-Agency RMBS transactions, and ran arbitrage strategies to buy and securitize residential mortgage whole loans. Mr. Incoglu began his career at Ocwen Federal Bank in 2000, focused on trading Interest Only cashflows (IO's), servicing strips, as well as hedging activities.

 

Mr. Incoglu earned a BS degree in Civil Engineering from Bogazici University, Istanbul in 1998, and an MBA degree in business administration from the University of Tulsa, OK in 1999.

Matthew Kraeger
Matthew Kraeger
Managing Director, Co-Head, Agency Mortgage Team
Read More

Matthew Kraeger, Managing Director, is co-head of the Agency Mortgage Team and lead portfolio manager for US Mortgage portfolios within BlackRock’s Global Fixed Income (GFI) platform.

 

Mr. Kraeger has been a portfolio manager within the US Mortgage Team since 2004, serving as a portfolio manager across both institutional accounts and retail funds. He is a senior portfolio manager on the BlackRock Mortgage-Backed Securities Fund, the BlackRock Securitized Income Fund and BlackRock’s Income Trust, a mortgage focused closed-end fund.

 

Mr. Kraeger began his investment career as an analyst in BlackRock's trade operations department in 2000, joined the Portfolio Analytics Group (PAG) in 2002 and the US Mortgage Team in 2004. Mr. Kraeger earned a BS degree in finance from Syracuse University.

Siddharth Mehta
Siddharth Mehta
Managing Director, Portfolio Manager, Head of Customized Core and Core Plus Portfolios
Read More

Managing Director, is Head of Customized Core and Core Plus Business within the Global Fixed Income (GFI) group at BlackRock. He is also a portfolio manager on the Short Duration, Total Return, and Core Bond Portfolios. Additionally, he serves as a voting member on a number of private capital investment committees, such as BlackRock’s Commercial Mortgage Loan Investment Committee, and the Securitized Assets Investment Committee.

 

Prior to taking on his current responsibilities, Mr. Mehta was a portfolio manager on BlackRock's agency mortgage and securitized products portfolios. Mr. Mehta joined the Portfolio Management Group in 2008. From 2006 to 2008, Mr. Mehta was a member of BlackRock's Risk and Quantitative Analytics Group, where he was responsible for supporting the mortgage team. Mr. Mehta began his investment career with BlackRock as an analyst in the Portfolio Analytics Group. Mr. Mehta is a member of the Mental Health Ambassador program, serving as a resource to colleagues on issues around mental health.

 

Mr. Mehta earned a BS degree, magna cum laude, in electrical engineering from the University of Michigan in 2005.

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

This fund does not seek to follow a sustainable, impact or ESG investment strategy. For more information regarding the fund's investment strategy, please see the fund's prospectus or, as applicable, shareholder report.

Literature

Literature

 

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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.

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Before engaging Fidelity or any broker-dealer, you should evaluate the overall fees and charges of the firm as well as the services provided. Free commission offer applies to online purchases of select iShares ETFs in a Fidelity account. The sale of ETFs is subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). For iShares ETFs, Fidelity receives compensation from the ETF sponsor and/or its affiliates in connection with an exclusive long-term marketing program that includes promotion of iShares ETFs and inclusion of iShares funds in certain Fidelity Brokerage Services platforms and investment programs. Please note, this security will not be marginable for 30 days from the settlement date, at which time it will automatically become eligible for margin collateral. Additional information about the sources, amounts, and terms of compensation can be found in the ETF’s prospectus and related documents. Fidelity may add or waive commissions on ETFs without prior notice.

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