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Trending ETFs

Name

As of 02/22/2024

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

$50.09

$605 M

3.47%

$1.74

0.25%

Vitals

YTD Return

0.5%

1 yr return

4.0%

3 Yr Avg Return

1.5%

5 Yr Avg Return

1.5%

Net Assets

$605 M

Holdings in Top 10

34.3%

52 WEEK LOW AND HIGH

$50.1
$49.65
$50.18

Expenses

OPERATING FEES

Expense Ratio 0.25%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 52.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 02/22/2024

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

$50.09

$605 M

3.47%

$1.74

0.25%

MEAR - Profile

Distributions

  • YTD Total Return 0.5%
  • 3 Yr Annualized Total Return 1.5%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.34%
DIVIDENDS
  • Dividend Yield 3.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BlackRock Short Maturity Municipal Bond ETF
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Mar 03, 2015
  • Shares Outstanding
    7050000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Scott Radell

Fund Description

The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in municipal securities such that the interest on each bond is exempt from U.S. federal income taxes and the federal alternative minimum tax (“AMT”). Under normal circumstances, the Fund primarily invests in U.S. dollar-denominated, investment-grade short-term fixed- and floating-rate municipal securities with remaining maturities of five years or less, such as municipal bonds, municipal notes and variable rate demand obligations, as well as money market instruments and registered investment companies. Investment-grade securities are rated BBB- or higher by S&P Global Ratings and/or Fitch Ratings, Inc. (“Fitch”), or Baa3 or higher by Moody’s Investors Service, Inc. (“Moody's”), or, if unrated, determined by the Fund's management team to be of equivalent quality. Municipal bonds include debt obligations issued by or on behalf of a governmental entity or other qualifying issuer that pay interest that is, in the 
opinion of bond counsel to the issuer at the time of issuance, generally excludable from gross income for U.S. federal income tax purposes. The Fund may invest up to 20% of its net assets in municipal securities that pay interest that is subject to the federal AMT. Issuers may be states, territories and possessions of the U.S., including the District of Columbia, and their political subdivisions, agencies and instrumentalities. BFA or its affiliates may advise the money market funds and investment companies in which the Fund may invest. 
Under normal circumstances, the effective duration of the Fund's portfolio is expected to be 1.2 years or less, as calculated by the Fund's management team, and it is not expected to exceed 1.5 years. Effective duration is a measure of the Fund’s price sensitivity to changes in yields or interest rates; however, investors should be aware that effective duration is not an exact measurement and may not reliably predict a particular security’s price sensitivity to changes in yield or interest rates. 
Under normal circumstances, the Fund will also seek to maintain a weighted average maturity that is less than three years. Weighted average maturity is a U.S. dollar-weighted average of the remaining term to maturity of the underlying securities in the Fund’s portfolio. The calculation of the Fund's weighted average maturity is based on the constituent securities' final maturity date or, for amortizing securities such as asset-backed and mortgage-backed securities, their weighted average life (i.e., the average length of time that each dollar of unpaid principal on the security remains outstanding). 
The Fund is an actively managed 
exchange-traded fund (“ETF”) that does not seek to replicate the performance of a specified index. The Fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index. 
The Fund is not a money market fund and does not seek to maintain a stable net asset value of $1.00 per share. Please see the Fund’s Statement of Additional Information (“SAI”) for further information. 
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MEAR - Performance

Return Ranking - Trailing

Period MEAR Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -2.2% 8.0% 4.37%
1 Yr 4.0% -0.8% 37.6% 68.90%
3 Yr 1.5%* -10.3% 2.7% 1.38%
5 Yr 1.5%* -4.9% 1103.5% 31.00%
10 Yr N/A* -0.2% 248.2% 14.65%

* Annualized

Return Ranking - Calendar

Period MEAR Return Category Return Low Category Return High Rank in Category (%)
2023 0.5% -1.4% 41.0% 98.00%
2022 -0.8% -40.2% 0.3% 1.11%
2021 -0.2% -5.6% 6.9% 39.08%
2020 0.3% -2.6% 310.0% 93.73%
2019 0.3% 0.0% 26.0% 98.76%

Total Return Ranking - Trailing

Period MEAR Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -2.2% 8.0% 4.37%
1 Yr 4.0% -0.8% 37.6% 68.90%
3 Yr 1.5%* -10.3% 2.7% 1.38%
5 Yr 1.5%* -4.9% 1103.5% 31.00%
10 Yr N/A* -0.2% 248.2% N/A

* Annualized

Total Return Ranking - Calendar

Period MEAR Return Category Return Low Category Return High Rank in Category (%)
2023 3.9% -1.3% 41.0% 85.05%
2022 0.1% -40.2% 1.1% 0.92%
2021 0.0% -4.8% 23761504.0% 85.86%
2020 1.2% -1.5% 17057.9% 95.15%
2019 1.9% 0.2% 3514.6% 97.93%

MEAR - Holdings

Concentration Analysis

MEAR Category Low Category High MEAR % Rank
Net Assets 605 M 3.48 M 68.1 B 39.45%
Number of Holdings 164 2 12848 68.72%
Net Assets in Top 10 211 M -317 M 3.4 B 17.44%
Weighting of Top 10 34.32% 1.9% 100.4% 7.57%

Top 10 Holdings

  1. IOWA ST FIN AUTH MIDWESTERN ECON DEV REVENUE 4.81%
  2. COLUMBIA AL INDL DEV BRD POLLCONTROL REVENUE 4.32%
  3. SAINT JAMES PARISH LA REVENUE 4.31%
  4. PENNSYLVANIA ST ECON DEV FINGAUTH EXEMPT FACS REVENUE 3.74%
  5. PENNSYLVANIA ST ECON DEV FINGAUTH EXEMPT FACS REVENUE 3.25%
  6. BLACK BELT ENERGY GAS DIST AL GAS PREPAY REVENUE 3.24%
  7. WISCONSIN ST 3.20%
  8. MEADE CNTY KY INDL BLDG REVENUE 2.91%
  9. PEFA INC IA GAS PROJ REVENUE 2.44%
  10. NORTH CAROLINA ST CAPITAL FACS FIN AGY SOL WST DISP REVENUE 2.11%

Asset Allocation

Weighting Return Low Return High MEAR % Rank
Bonds
99.31% 0.00% 150.86% 30.17%
Cash
0.69% -50.86% 50.09% 70.38%
Stocks
0.00% 0.00% 99.88% 92.57%
Preferred Stocks
0.00% 0.00% 0.52% 91.28%
Other
0.00% -8.54% 33.35% 87.82%
Convertible Bonds
0.00% 0.00% 0.93% 90.93%

Bond Sector Breakdown

Weighting Return Low Return High MEAR % Rank
Municipal
90.64% 44.39% 100.00% 93.18%
Cash & Equivalents
0.50% 0.00% 48.02% 39.04%
Derivative
0.00% -8.54% 24.50% 86.79%
Securitized
0.00% 0.00% 5.93% 90.86%
Corporate
0.00% 0.00% 9.41% 92.41%
Government
0.00% 0.00% 52.02% 92.54%

Bond Geographic Breakdown

Weighting Return Low Return High MEAR % Rank
US
99.31% 0.00% 142.23% 27.88%
Non US
0.00% 0.00% 23.89% 92.88%

MEAR - Expenses

Operational Fees

MEAR Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.25% 0.03% 20.65% 96.40%
Management Fee 0.25% 0.00% 1.20% 11.27%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

MEAR Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

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

MEAR Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 52.00% 0.00% 283.00% 93.01%

MEAR - Distributions

Dividend Yield Analysis

MEAR Category Low Category High MEAR % Rank
Dividend Yield 3.47% 0.00% 4.63% 0.64%

Dividend Distribution Analysis

MEAR Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

MEAR Category Low Category High MEAR % Rank
Net Income Ratio 0.34% -0.53% 5.33% 97.21%

Capital Gain Distribution Analysis

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

Distributions History

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MEAR - Fund Manager Analysis

Managers

Scott Radell


Start Date

Tenure

Tenure Rank

Mar 03, 2015

7.25

7.3%

Scott Radell has been employed as managing director and portfolio manager with BlackRock Investment Management LLC and BlackRock Financial Advisers (formerly, Barclays Global Fund Advisors) and its predecessors since 2009. Mr. Radell served as a portfolio manager at Barclays Global Fund Advisors and its affiliates since 2004. Radell was a credit strategist from 2003 to 2004 before becoming a CoreAlpha Bond Portfolio Manager and prior to that he was employed by Morgan Stanley Asset Management as a credit analyst from 1996 to 2003.

Kristi Manidis


Start Date

Tenure

Tenure Rank

Mar 28, 2019

3.18

3.2%

Kevin Schiatta


Start Date

Tenure

Tenure Rank

Mar 28, 2019

3.18

3.2%

Kevin A. Schiatta, CFA .Director of BlackRock, Inc. since 2006. Responsible for the day-to-day management of the Fund’s portfolio including setting the Fund’s overall investment strategy and overseeing the management of the Fund. Schiatta has been a director of MLIM since 2000 and was a vice president thereof from 1994 to 2000.

James Mauro


Start Date

Tenure

Tenure Rank

Mar 01, 2021

1.25

1.3%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58