Fixed Income

CSHP

BlackRock Enhanced Short-Term Bond ETF ACTIVE

  • NAV as of Oct 04, 2024 $100.17
  • 1 Day NAV Change as of Oct 04, 2024 0.06 (0.06%)
  • Fees as stated in the prospectus Expense Ratio: 0.20%

Overview

Why CSHP?

1. Diversified exposure: Seeks to provide exposure to opportunities in short-term fixed income securities across global developed markets

 

2. Active expertise: Managed by BlackRock’s Global Tactical Asset Allocation team, which manages approximately $50b in global macro portfolios*

 

3. Cost effective: Low-cost strategy for investors seeking higher returns than current short-term interest rates


*As of June 30, 2024.

INVESTMENT OBJECTIVE

The BlackRock Enhanced Short-Term Bond ETF seeks total return in excess of the ICE BofA 3-Month U.S. Treasury Bill Index.
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Performance

Performance

Growth of Hypothetical $10,000

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The Hypothetical Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Distributions

Record Date Ex-Date Payable Date
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Record Date Ex-Date Payable Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

Premium/Discount

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  1y 3y 5y 10y Incept.
Total Return (%)

as of Sep 30, 2024

- - - - -
Market Price (%)

as of Sep 30, 2024

- - - - -
Benchmark (%)

as of Sep 30, 2024

- - - - -
After Tax Pre-Liq. (%)

as of Sep 30, 2024

- - - - -
After Tax Post-Liq. (%)

as of Sep 30, 2024

- - - - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%)

as of Sep 30, 2024

- 0.37 - - - - - - 1.06
Market Price (%)

as of Sep 30, 2024

- 0.36 - - - - - - 1.07
Benchmark (%)

as of Sep 30, 2024

- 0.43 - - - - - - 1.11
After Tax Pre-Liq. (%)

as of Sep 30, 2024

- 0.13 - - - - - - 0.81
After Tax Post-Liq. (%)

as of Sep 30, 2024

- 0.22 - - - - - - 0.63
Performance data is not currently available
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 of Fund
as of Oct 04, 2024
$12,521,089
Exchange
NYSE Arca
Benchmark Index
ICE BofA 3 Month Treasury Bill Index (G0O1) (USD)
Distribution Frequency
Monthly
CUSIP
09290C822
30 Day Avg. Volume
as of Oct 04, 2024
1,007.00
Daily Volume
as of Oct 04, 2024
3.00
Fund Launch Date
Jul 17, 2024
Asset Class
Fixed Income
Shares Outstanding
as of Oct 04, 2024
125,000
Premium/Discount
as of Oct 04, 2024
0.03%
Closing Price
as of Oct 04, 2024
100.20
30 Day Median Bid/Ask Spread
as of Oct 04, 2024
0.03%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Oct 03, 2024
0
30 Day SEC Yield
as of Oct 02, 2024
4.91%
Standard Deviation (3y)
as of -
-
Weighted Avg Coupon
as of Oct 03, 2024
0.00
Effective Duration
as of Oct 03, 2024
-0.06 yrs
Option Adjusted Spread
as of Oct 03, 2024
-17.58 bps
Equity Beta (3y)
as of -
-
12m Trailing Yield
as of -
-
Average Yield to Maturity
as of Oct 03, 2024
4.75%
Weighted Avg Maturity
as of Oct 03, 2024
0.07 yrs
Convexity
as of Oct 03, 2024
0.00
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund. Learn more

This fund does not seek to follow a sustainable, impact or ESG investment strategy. The metrics do not change the fund’s investment objective or constrain the fund’s investable universe, and there is no indication that a sustainable, impact or ESG investment strategy will be adopted by the fund. For more information regarding the fund's investment strategy, please see the fund's prospectus.

Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC)
as of Sep 21, 2024
A
MSCI ESG Quality Score (0-10)
as of Sep 21, 2024
6.0
Fund Lipper Global Classification
as of Sep 21, 2024
Bond Global USD
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of -
-
MSCI ESG % Coverage
as of Sep 21, 2024
99.98%
MSCI ESG Quality Score - Peer Percentile
as of Sep 21, 2024
31.72%
Funds in Peer Group
as of Sep 21, 2024
435
MSCI Weighted Average Carbon Intensity % Coverage
as of Sep 21, 2024
0.00%
All data is from MSCI ESG Fund Ratings as of Sep 21, 2024, based on holdings as of Aug 31, 2024. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage 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.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager includes ESG considerations in the research and underlying strategy due diligence phases of the investment process. This may include third party and internal considerations, as defined by the portfolio management team. Internal considerations may include exposures to climate and disaster events, as well as sovereign social and governance concerns. Where appropriate, the portfolio management team also analyzes ESG exposures and investment characteristics within underlying strategies. These criteria are part of a number of considerations that factor into investment decisions. The Fund manager may include ESG criteria in the ongoing monitoring of the overall portfolio, including underlying strategies as well as tactical positioning. The Fund manager conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. Where appropriate, these reviews include discussion of the portfolio’s exposure to material ESG risks.

Fees

Fees

as of current prospectus
Management Fee 0.20%
Acquired Fund Fees and Expenses 0.00%
Other Expenses 0.00%
Expense Ratio 0.20%

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

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. 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 Oct 03, 2024

% of Market Value

Type Fund
as of Oct 03, 2024

% 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 Oct 03, 2024

% 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 Oct 03, 2024

% 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

Philip Green
Philip Green
Portfolio Manager, Global Tactical Asset Allocation Team

  

Read More

Phil Green, Managing Director, is the head of the Global Tactical Asset Allocation team within BlackRock's Multi-Asset Strategies & Solutions (MASS) group. The GTAA team manages multi-asset macro investment strategies including the Tactical Opportunities Fund and Sustainable Balanced Fund and custom mandates for institutional clients around the world.

 

Phil’s service with the firm dates back to 1999, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. Prior to joining MLIM, Phil was a portfolio manager at Bankers Trust Company.


Phil earned an MBA from the Stern School of Business of New York University and a BS in economics from the Wharton School of the University of Pennsylvania.

 

Phil is the author of many articles on investing, some of which have been published in the Financial Analysts Journal, Journal of Foreign Exchange & Money Markets, and the Journal of Investing.

 

Multi-Asset Strategies & Solutions (MASS) meets client demand for active asset allocation strategies and whole portfolio solutions through funds, model portfolios, and more. MASS draws on the toolkit of BlackRock's index, factor, and alpha-seeking capabilities to deliver cutting-edge insights and investment outcomes.

Tom Becker
Tom Becker
Portfolio Manager, Global Tactical Asset Allocation Team

    

Read More

Tom Becker, Managing Director, is a portfolio manager on the Global Tactical Asset Allocation (GTAA) team within BlackRock's Multi-Asset Strategies & Solutions group. The GTAA team manages multi-asset macro investment strategies including the Tactical Opportunities Fund and Sustainable Balanced Fund and custom mandates for institutional clients around the world.

 

Tom’s service with the firm dates back to 2010. Prior to assuming his current role, he led fixed income research within the multi-asset Global Market Strategies Group. In 2009 he served as an economist in the Office of International Affairs at the US Department of Treasury.

 

Tom earned a BS degree in economics from the Massachusetts Institute of Technology (MIT) in 2003 and an MA and PhD in international and environmental economics from the University of California, Berkeley in 2008 and 2010, respectively.

 

Tom’s research focus is international macro and systematic investing. He co-leads Civic Engagement for the BlackRock San Francisco office and serves on the Board of Directors of the San Francisco Chamber of Commerce and the Bay Area Council. Outside of work, he enjoys exploring California with his wife and three daughters.

 

Multi-Asset Strategies & Solutions (MASS) meets client demand for active asset allocation strategies and whole portfolio solutions through funds, model portfolios, and more. MASS draws on the toolkit of BlackRock's index, factor, and alpha-seeking capabilities to deliver cutting-edge insights and investment outcomes.

 

 

Dan Felder
Dan Felder
Global Tactical Asset Allocation Team

   

Read More

Dan Felder, Director, is a portfolio manager in BlackRock's Multi-Asset Strategies & Solutions (MASS) group where he focuses on investment research for the Global Tactical Asset Allocation (GTAA) team. His responsibilities encompass asset allocation, manager selection, and portfolio construction. The team manages client portfolios with custom objectives where investment views are expressed through benchmark relative, total return, and absolute return products.

Prior to joining the team in 2015, Mr. Felder was an analyst within BlackRock Solution's Portfolio Analytics Group, where he focused on Aladdin implementations and led strategic initiatives to improve BlackRock's analytical capabilities.

Mr. Felder earned an MBA from the New York University Stern School of Business in 2018 and a BS in computer engineering from Brown University in 2011.

Literature

Literature

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