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Trending ETFs

Name

As of 05/21/2024

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

$45.33

$125 M

6.21%

$2.82

0.35%

Vitals

YTD Return

1.9%

1 yr return

10.3%

3 Yr Avg Return

1.0%

5 Yr Avg Return

3.0%

Net Assets

$125 M

Holdings in Top 10

29.2%

52 WEEK LOW AND HIGH

$45.3
$42.09
$45.79

Expenses

OPERATING FEES

Expense Ratio 0.35%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 05/21/2024

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

$45.33

$125 M

6.21%

$2.82

0.35%

HYXF - Profile

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return 1.0%
  • 5 Yr Annualized Total Return 3.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 6.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    iShares ESG Advanced High Yield Corporate Bond ETF
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Jun 14, 2016
  • Shares Outstanding
    N/A
  • 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 MSCI US High Yield Choice ESG Screened Index (the Underlying Index), developed by Bloomberg Finance L.P. and its affiliates (the Index Provider or Bloomberg) with environmental, social and governance (ESG) rating inputs from MSCI ESG Research LLC (MSCI ESG Research) pursuant to an agreement between MSCI ESG Research and Bloomberg Index Services Limited (a subsidiary of Bloomberg) or an affiliate. The Underlying Index is a modified market value-weighted index with a cap on each issuer of 2% at each monthly rebalancing. The Underlying Index is designed to reflect the performance of U.S. dollar-denominated, high yield corporate bonds of issuers with favorable ESG ratings, as identified by the Index Provider, while applying additional screens. To construct the
Underlying Index, Bloomberg begins with the Bloomberg US Corporate High Yield Index (the Parent Index). The Parent Index includes U.S. dollar-denominated, high yield, fixed-rate corporate bonds that: (i) are issued by companies with a developed markets country of risk, as defined by the Index Provider based primarily on quantitative economic criteria established by the Index Provider, and (ii) have a rating of below-investment grade (as determined by the Index Provider). From the Parent Index, Bloomberg selects bonds that have $400 million or more of outstanding face value at the time of inclusion. The Parent Index includes bonds with at least one year until final maturity.
In determining whether a bond has a rating of below investment grade, ratings from Moody’s Investors Services, Inc. (Moody’s), Standard & Poor’s® Global Ratings, a subsidiary of S&P Global (S&P Global Ratings) and Fitch Ratings, Inc. (Fitch) are considered. Securities in the Underlying Index must be rated high yield (below BBB- by S&P Global Ratings and Fitch, or below Baa3 by Moody's) using the middle rating from Moody’s, S&P Global Ratings, and Fitch. When a rating from only two agencies is available, the lower of the two agencies’ ratings is used. When a rating from only one agency is available, that rating is used to determine eligibility in the Underlying Index. Securities that are rated below investment grade are commonly referred to as junk bonds.
To select favorable ESG rated companies from the Parent Index, MSCI excludes companies with an ESG controversy score of less than three (3) or an ESG rating below BB. To determine if companies are involved in ESG business controversies, MSCI assesses the possible negative environmental, social, and/or governance impact of a company’s operations or products on a scale from zero to ten, with zero being the most severe controversy rating. To determine ESG ratings, MSCI rates the ESG characteristics of securities on a scale of CCC (lowest) to AAA(highest). MSCI then evaluates a company’s risks and opportunities using a sector-specific ESG Key Issues (Key Issues) (e.g., carbon emissions) selection and weighting model. Each company is scored on a scale of 0 to 10, with 10 being the highest, for each Key Issue before being provided an ESG rating based on average Key Issue score. MSCI ESG Research also excludes securities of companies involved in adult entertainment, alcohol, gambling, tobacco, genetically modified organisms, controversial weapons, nuclear weapons, civilian firearms, conventional weapons, palm oil, for-profit prisons, predatory lending, and nuclear power based on revenue or percentage of revenue thresholds for certain categories (e.g., $500 million or 50%) and categorical exclusions for others (e.g., nuclear weapons). MSCI ESG Research screens companies with involvement in fossil fuels by excluding the securities of any company in the Bloomberg Class 3 energy sector (i.e., corporate issuers in the energy sector include both independent and integrated exploration and production companies, as well as midstream oil field services, and refining companies) and all companies with an industry tie to
fossil fuels such as thermal coal, oil and gas—in particular, reserve ownership, related revenues and power generation.
The Underlying Index is rebalanced on a monthly basis, on the last business day of each month. As of October 31, 2023, a significant portion of the Underlying Index is represented by securities of companies in the communications, consumer cyclical and consumer staples industries or sectors. The components of the Underlying Index are likely to change over time. As of October 31, 2023, the Underlying Index had 723 components.
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, MSCI ESG Research, or their affiliates, which areindependent 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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HYXF - Performance

Return Ranking - Trailing

Period HYXF Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -39.9% 6.2% 96.46%
1 Yr 10.3% -22.1% 21.3% 17.83%
3 Yr 1.0%* -14.2% 66.8% 6.00%
5 Yr 3.0%* -13.6% 37.2% 4.93%
10 Yr N/A* -9.3% 16.2% N/A

* Annualized

Return Ranking - Calendar

Period HYXF Return Category Return Low Category Return High Rank in Category (%)
2023 5.2% -44.3% 3.7% 3.60%
2022 -16.3% -56.9% 9.2% 20.44%
2021 -2.0% -53.7% 70.9% 2.11%
2020 0.8% -33.7% 5.1% 98.91%
2019 8.8% -9.4% 12.0% 1.00%

Total Return Ranking - Trailing

Period HYXF Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -39.9% 6.2% 97.01%
1 Yr 10.3% -22.1% 22.2% 18.42%
3 Yr 1.0%* -14.2% 66.8% 7.79%
5 Yr 3.0%* -13.6% 37.2% 7.64%
10 Yr N/A* -9.3% 16.2% N/A

* Annualized

Total Return Ranking - Calendar

Period HYXF Return Category Return Low Category Return High Rank in Category (%)
2023 11.9% -44.3% 3.7% 3.60%
2022 -11.9% -56.9% 9.2% 20.58%
2021 2.6% -53.7% 70.9% 2.11%
2020 6.1% -33.7% 5.1% 98.91%
2019 14.9% -9.4% 12.0% 1.00%

HYXF - Holdings

Concentration Analysis

HYXF Category Low Category High HYXF % Rank
Net Assets 125 M 1.47 M 26.2 B 70.09%
Number of Holdings 728 2 2736 18.16%
Net Assets in Top 10 35.8 M -492 M 2.55 B 80.00%
Weighting of Top 10 29.21% 3.0% 100.0% 89.30%

Top 10 Holdings

  1. BlackRock Cash Funds: Institutional, SL Agency Shares 24.79%
  2. BlackRock Cash Funds: Treasury, SL Agency Shares 0.61%
  3. TransDigm Inc 0.60%
  4. Intelsat Jackson Holdings SA 0.54%
  5. Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC 0.50%
  6. 1011778 BC ULC / New Red Finance Inc 0.49%
  7. DaVita Inc 0.47%
  8. Western Digital Corp 0.42%
  9. CCO Holdings LLC / CCO Holdings Capital Corp 0.40%
  10. Vodafone Group PLC 0.39%

Asset Allocation

Weighting Return Low Return High HYXF % Rank
Bonds
98.08% 0.00% 154.38% 20.45%
Cash
25.40% -52.00% 100.00% 63.55%
Stocks
0.00% -0.60% 52.82% 89.12%
Preferred Stocks
0.00% 0.00% 14.10% 79.74%
Other
0.00% -63.70% 32.06% 73.68%
Convertible Bonds
0.00% 0.00% 17.89% 80.13%

Bond Sector Breakdown

Weighting Return Low Return High HYXF % Rank
Cash & Equivalents
25.40% 0.00% 99.98% 68.77%
Derivative
0.00% 0.00% 45.95% 71.41%
Securitized
0.00% 0.00% 97.24% 80.11%
Corporate
0.00% 0.00% 100.00% 20.29%
Municipal
0.00% 0.00% 1.17% 64.69%
Government
0.00% 0.00% 99.07% 74.57%

Bond Geographic Breakdown

Weighting Return Low Return High HYXF % Rank
US
98.08% 0.00% 150.64% 15.66%
Non US
0.00% 0.00% 96.17% 70.39%

HYXF - Expenses

Operational Fees

HYXF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.35% 0.02% 3.87% 93.06%
Management Fee 0.35% 0.00% 1.84% 10.14%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

HYXF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

HYXF 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.

HYXF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 327.00% 20.47%

HYXF - Distributions

Dividend Yield Analysis

HYXF Category Low Category High HYXF % Rank
Dividend Yield 6.21% 0.00% 39.36% 18.85%

Dividend Distribution Analysis

HYXF Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

HYXF Category Low Category High HYXF % Rank
Net Income Ratio N/A -2.39% 14.30% 78.41%

Capital Gain Distribution Analysis

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

Distributions History

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HYXF - 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 7.07 2.92