Fixed Income

HIMU

iShares High Yield Muni Active ETF

Overview

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Performance

Performance

Distributions

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Premium/Discount

  1y 3y 5y 10y
6.40 -1.20 1.95 3.70
Market Price (%) 6.40 -1.20 1.95 3.70
After Tax Pre-Liq. (%) 6.36 -1.23 1.91 3.68
After Tax Post-Liq. (%) 5.53 -0.07 2.33 3.77
  YTD 1m 3m 6m 1y 3y 5y 10y
6.40 -1.79 -0.99 1.58 6.40 -3.55 10.11 43.82
Market Price (%) 6.40 -1.79 -0.99 1.58 6.40 -3.55 10.11 43.82
After Tax Pre-Liq. (%) 6.36 -1.79 -1.01 1.55 6.36 -3.64 9.93 43.54
After Tax Post-Liq. (%) 5.53 -0.92 -0.18 1.78 5.53 -0.21 12.22 44.80
  2020 2021 2022 2023 2024
Total Return (%) 4.54 9.21 -15.36 7.10 6.40
Market Price (%) 4.54 9.21 -15.36 7.10 6.40
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 02/07/2025, 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. The returns shown are the NAV returns of the Institutional Class Shares of the predecessor mutual fund prior to the Fund's commencement of operations as an ETF, which had structural, regulatory, expense, and fee differences that may result in performance differences over time. Prior to the Fund's listing on 02/10/2025, 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. See the prospectus for more information.

Performance shown reflects fee waivers and/or expense reimbursements by the investment advisor to the fund for some or all of the periods shown. Performance would have been lower without such waivers.

Click here for predecessor mutual fund Distribution data

Key Facts

Key Facts

Net Assets of Fund
as of Mar 28, 2025
$1,832,975,845
Exchange
Cboe BZX
Asset Class
Fixed Income
Shares Outstanding
as of Mar 28, 2025
37,120,340
Premium/Discount
as of Mar 28, 2025
0.06%
Closing Price
as of Mar 28, 2025
49.41
30 Day Median Bid/Ask Spread
as of Mar 27, 2025
0.22%
ETF Inception Date
Feb 07, 2025
Predecessor Mutual Fund Inception Date
Aug 01, 2006
Benchmark Index
BBG Muni 60% HY + 20% Muni BBB + 20% Muni IG ex BBB Custom (USD)
Distribution Frequency
Monthly
CUSIP
092528843
30 Day Avg. Volume
as of Mar 27, 2025
475,287.00
Daily Volume
as of Mar 28, 2025
232,852.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Mar 27, 2025
754
30 Day SEC Yield
as of Mar 27, 2025
4.93%
Standard Deviation (3y)
as of Feb 28, 2025
10.79%
Average Yield to Maturity
as of Mar 27, 2025
5.42%
Weighted Avg Coupon
as of Mar 27, 2025
5.55
Effective Duration
as of Mar 27, 2025
9.12 yrs
Option Adjusted Spread
as of Mar 27, 2025
157.87 bps
Equity Beta (3y)
as of Feb 28, 2025
0.46
12m Trailing Yield
as of -
-
Unsubsidized 30-Day SEC Yield
as of Mar 27, 2025
4.93%
Tax Equiv. SEC Yield
as of Mar 27, 2025
8.33%
Weighted Avg Maturity
as of Mar 27, 2025
13.38 yrs
Convexity
as of Mar 27, 2025
0.11
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 0.39%
Acquired Fund Fees and Expenses 0.01%
Other Expenses 0.03%
Expense Ratio 0.43%
Fee Waivers 0.01%
Net Expense Ratio 0.42%

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".

Holdings

Holdings

as of Mar 27, 2025
Issuer Weight (%)
PUBLIC FINANCE AUTHORITY WISCONSIN 6.06
FLORIDA DEVELOPMENT FINANCE CORP 4.52
CALIFORNIA INFRASTRUCTURE & ECONOMIC DEVELOPMENT BANK 3.68
PUERTO RICO COMMONWEALTH OF (GOVERNMENT) 3.01
PUERTO RICO SALES TAX FINANCING CORP 2.97
Issuer Weight (%)
NEW YORK TRANSPORTATION DEVELOPMENT CORP 2.71
PUERTO RICO ELECTRIC POWER AUTHORITY 2.26
ARKANSAS ST DEV FIN AUTH 2.17
CHICAGO (CITY OF) 1.85
DISTRICT COLUMBIA TOB SETTLEMENT FING CORP 1.84
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 Mar 27, 2025

% of Market Value

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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 Mar 27, 2025

% of Market Value

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as of Mar 27, 2025

% of Market Value

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 Mar 27, 2025

% of Market Value

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

Phillip Soccio, CFA
Director, Portfolio Manager, Municipal Mutual Funds

  

Patrick Haskell
Head of the Municipal Bond Group within the Portfolio Management Group (PMG) as well as Global Head of the Financial Institutions Group (FIG) Investments Business and the Global Liability Driven Investment (LDI) Business

    

Kevin Maloney, CFA
Managing Director, Co-Head and Portfolio Manager, Municipal Mutual Funds

  

Ryan McDonald, CFA
Managing Director, Portfolio Manager, Municipal Mutual Funds

    

Walter O'Connor, CFA
Managing Director, Co-Head and Portfolio Manager, Municipal Mutual Funds

  

Literature

Literature