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Trending ETFs

Name

As of 07/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$26.61

$1.67 B

6.22%

$1.65

0.25%

Vitals

YTD Return

4.0%

1 yr return

11.5%

3 Yr Avg Return

0.9%

5 Yr Avg Return

5.2%

Net Assets

$1.67 B

Holdings in Top 10

35.0%

52 WEEK LOW AND HIGH

$26.5
$24.16
$26.88

Expenses

OPERATING FEES

Expense Ratio 0.25%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 21.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 07/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$26.61

$1.67 B

6.22%

$1.65

0.25%

FALN - Profile

Distributions

  • YTD Total Return 4.0%
  • 3 Yr Annualized Total Return 0.9%
  • 5 Yr Annualized Total Return 5.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.57%
DIVIDENDS
  • Dividend Yield 6.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    iShares Fallen Angels USD Bond ETF
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Jun 14, 2016
  • Shares Outstanding
    115050000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Mauro

Fund Description

The Fund seeks to track the investment results of the Bloomberg US High Yield Fallen Angel 3% Capped Index (the Underlying Index), which is designed to reflect the performance of U.S. dollar denominated, high yield (as determined by Bloomberg Index Services Limited (the Index Provider or Bloomberg)) corporate bonds that were previously rated investment grade. Bonds are market value weighted with a 3% cap on each issuer.
The bonds eligible for inclusion in the Underlying Index are U.S. dollar-denominated corporate bonds that: (i) are issued by companies domiciled in countries classified as developed markets by the Index Provider (based primarily on World Bank income classifications); (ii) have an average rating of below-investment grade (as determined by the Index Provider); (iii) previously had an average rating of investment grade; (iv) have at least $150 million of outstanding face value; (v) have a fixed-rate coupon; and (vi) have at least one year to maturity. In determining whether a bond has an
average rating of investment grade or below-investment grade, ratings from Moody’s Investors Services, Inc. Moody’s), S&P Global Ratings and Fitch Ratings, Inc. (Fitch) are considered. Securities in the Underlying Index must be rated below-investment grade (lower than BBB- by S&P Global Ratings and Fitch, or Baa3 by Moody’s) using the middle rating of Moody’s, S&P Global Ratings, or Fitch after dropping the highest and lowest available ratings. When a rating from only two agencies is available, the lower more conservative rating is used. When a rating from only one agency is available, that rating is used to determine eligibility in the Underlying Index. If an issue is unrated, the Index Provider may consider expected ratings and/or issuer-level ratings adopted by a ratings agency. There is no limit to the number of issues in the Underlying Index, but as of October 31, 2023, the Underlying Index included approximately 212 constituents. As of October 31, 2023, a significant portion of the Underlying Index is represented by securities of companies in the consumer cyclical and financials industries or sectors. The components of the Underlying Index are likely to change over time.
BFA uses an indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to beat the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued.
Indexing may eliminate the chance that the Fund will substantially outperform the Underlying Index but also may reduce some of the risks of active management, such as poor security
selection. Indexing seeks to achieve lower costs and better after-tax performance by aiming to keep portfolio turnover low in comparison to actively managed investment companies.
BFA uses a representative sampling indexing strategy to manage the Fund. Representative sampling is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable underlying index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market value and industry weightings), fundamental characteristics (such as return variability, duration (i.e., a security's price sensitivity to a change in interest rates), maturity or credit ratings and yield) and liquidity measures similar to those of an applicable underlying index. The Fund may or may not hold all of the securities in the Underlying Index.
The Fund will invest at least 80% of its assets in the component securities of the Underlying Index, and the Fund will invest at least 90% of its assets in fixed income securities of the types included in the Underlying Index that BFA believes will help the Fund track the Underlying Index. The Fund will invest no more than 10% of its assets in futures, options and swaps contracts that BFA believes will help the Fund track the Underlying Index as well as in fixed income securities other than the types included in the Underlying Index, but which BFA believes will help the Fund track the Underlying Index. Cash and cash equivalent investments associated with a derivative position will be treated as part of that position for the purposes of calculating the percentage of investments included in
the Underlying Index. The Fund seeks to track the investment results of the Underlying Index before fees and expenses of the Fund.
The Fund may lend securities representing up to one-third of the value of the Fund's total assets (including the value of any collateral received).
The Underlying Index is sponsored by Bloomberg, which isindependent of the Fund and BFA. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index.
Industry Concentration Policy. The Fund will concentrate its investments i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry.
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FALN - Performance

Return Ranking - Trailing

Period FALN Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -6.6% 10.2% 43.67%
1 Yr 11.5% -4.4% 18.8% 10.95%
3 Yr 0.9%* -15.5% 20.3% 68.26%
5 Yr 5.2%* -12.1% 37.1% 8.36%
10 Yr N/A* -5.3% 19.6% 10.64%

* Annualized

Return Ranking - Calendar

Period FALN Return Category Return Low Category Return High Rank in Category (%)
2023 7.3% -4.7% 14.3% 6.51%
2022 -17.9% -33.4% 3.6% 84.13%
2021 1.8% -8.4% 8.2% 12.52%
2020 8.5% -13.2% 302.7% 2.06%
2019 11.1% -4.4% 13.3% 3.18%

Total Return Ranking - Trailing

Period FALN Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -6.6% 10.2% 43.67%
1 Yr 11.5% -4.4% 18.8% 10.95%
3 Yr 0.9%* -15.5% 20.3% 68.26%
5 Yr 5.2%* -12.1% 37.1% 8.36%
10 Yr N/A* -5.3% 19.6% N/A

* Annualized

Total Return Ranking - Calendar

Period FALN Return Category Return Low Category Return High Rank in Category (%)
2023 13.5% -4.7% 18.7% 15.87%
2022 -13.8% -33.4% 47.8% 90.54%
2021 5.4% -8.4% 12.4% 40.57%
2020 14.9% -9.6% 325.6% 1.55%
2019 17.4% -3.8% 19.4% 2.65%

FALN - Holdings

Concentration Analysis

FALN Category Low Category High FALN % Rank
Net Assets 1.67 B 1.45 M 23.6 B 30.38%
Number of Holdings 189 2 2888 79.17%
Net Assets in Top 10 569 M -492 M 5.26 B 11.76%
Weighting of Top 10 35.04% 4.4% 144.6% 7.47%

Top 10 Holdings

  1. BlackRock Cash Funds: Institutional, SL Agency Shares 19.49%
  2. Vodafone Group PLC 2.92%
  3. Western Digital Corp 2.53%
  4. Newell Brands Inc 2.08%
  5. UniCredit SpA 1.66%
  6. Dresdner Funding Trust I 1.57%
  7. Resorts World Las Vegas LLC / RWLV Capital Inc 1.30%
  8. UniCredit SpA 1.28%
  9. EQM Midstream Partners LP 1.20%
  10. ZF North America Capital Inc 1.03%

Asset Allocation

Weighting Return Low Return High FALN % Rank
Bonds
97.97% -0.88% 154.38% 16.61%
Cash
20.04% -52.00% 91.75% 1.91%
Convertible Bonds
1.68% 0.00% 17.89% 28.14%
Stocks
0.00% 0.00% 99.58% 84.49%
Preferred Stocks
0.00% 0.00% 7.50% 67.89%
Other
0.00% -63.70% 100.29% 61.84%

Bond Sector Breakdown

Weighting Return Low Return High FALN % Rank
Corporate
96.13% 0.00% 100.00% 41.08%
Cash & Equivalents
20.04% 0.00% 91.75% 1.91%
Securitized
1.86% 0.00% 97.24% 18.79%
Derivative
0.00% -14.70% 42.26% 49.44%
Municipal
0.00% 0.00% 1.17% 31.53%
Government
0.00% 0.00% 99.07% 52.39%

Bond Geographic Breakdown

Weighting Return Low Return High FALN % Rank
US
97.97% -0.88% 129.21% 9.54%
Non US
0.00% 0.00% 96.20% 67.09%

FALN - Expenses

Operational Fees

FALN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.25% 0.02% 38.33% 98.10%
Management Fee 0.25% 0.00% 1.75% 2.22%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

FALN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FALN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FALN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 21.00% 1.00% 255.00% 2.60%

FALN - Distributions

Dividend Yield Analysis

FALN Category Low Category High FALN % Rank
Dividend Yield 6.22% 0.00% 11.76% 61.14%

Dividend Distribution Analysis

FALN Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

FALN Category Low Category High FALN % Rank
Net Income Ratio 3.57% -2.39% 14.30% 82.69%

Capital Gain Distribution Analysis

FALN Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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FALN - Fund Manager Analysis

Managers

James Mauro


Start Date

Tenure

Tenure Rank

Jun 14, 2016

5.96

6.0%

Head of San Francisco Fixed Income Core PM at BlackRock, Inc. since 2020; Managing Director of BlackRock, Inc. since 2015; Director of BlackRock, Inc. from 2010 to 2014; Vice President of State Street Global Advisors from 2001 to 2010. James Mauro has been employed by BlackRock Fund Advisors and BlackRock Institutional Trust Company, N.A. (“BTC”) as a portfolio manager since 2011. Prior to joining BTC, Mr. Mauro was a Vice President at State Street Global Advisors. His primary responsibilities include management of all government, inflation linked and derivative strategies. Other responsibilities include hedging and managing risk across all asset classes through futures and option overlays. James joined State Street Corporation in 1993. Previously, he worked as a portfolio manager on the passive team where he co-managed several Bond Index portfolios.

Karen Uyehara


Start Date

Tenure

Tenure Rank

Mar 01, 2021

1.25

1.3%

Ms. Uyehara is a Director of BlackRock, which she joined in 2010. Ms. Uyehara is a portfolio manager and member of BlackRock’s Model-Based Fixed Income Portfolio Management Group. Prior to joining BlackRock, Ms. Uyehara was a portfolio manager at Western Asset Management Company from2002 to 2010.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.17 8.17