Fixed Income

MBB

iShares MBS ETF

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  • NAV as of Nov 20, 2024 $92.41
    52 WK: 89.49 - 96.78
  • 1 Day NAV Change as of Nov 20, 2024 -0.04 (-0.04%)
  • NAV Total Return as of Nov 19, 2024 YTD: 1.50%
  • Morningstar Rating
  • Fees as stated in the prospectus Expense Ratio: 0.05%
    Net Expense Ratio: 0.04%

Overview

Why MBB?

1. Exposure to broad range of U.S. mortgage-backed bonds, including those issued by government sponsored enterprises such as Ginnie Mae, Fannie Mae, and Freddie Mac

 

2. Access to the domestic mortgage-backed bond market in a single fund

 

3. Use to seek income

INVESTMENT OBJECTIVE

The iShares MBS ETF (MBB) seeks to track the investment results of an index composed of investment-grade mortgage-backed pass-through securities issued and/or guaranteed by U.S. government agencies.
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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 (%) 12.28 -1.25 0.00 1.31 2.61
Market Price (%) 12.10 -1.27 -0.02 1.29 2.61
Benchmark (%) 12.32 -1.20 0.04 1.41 2.85
After Tax Pre-Liq. (%) 10.54 -2.35 -0.97 0.28 1.49
After Tax Post-Liq. (%) 7.21 -1.42 -0.41 0.55 1.57
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 4.61 1.20 5.55 5.73 12.28 -3.69 0.02 13.89 57.26
Market Price (%) 4.50 0.93 5.40 5.71 12.10 -3.77 -0.09 13.72 57.07
Benchmark (%) 4.50 1.19 5.53 5.60 12.32 -3.55 0.22 15.05 63.67
After Tax Pre-Liq. (%) 3.51 1.06 5.12 4.89 10.54 -6.88 -4.75 2.80 29.61
After Tax Post-Liq. (%) 2.70 0.71 3.28 3.37 7.21 -4.21 -2.03 5.65 31.41
  2019 2020 2021 2022 2023
Total Return (%) 6.27 4.03 -1.27 -11.86 4.99
Market Price (%) 6.24 4.04 -1.43 -11.74 5.01
Benchmark (%) 6.35 3.87 -1.04 -11.81 5.05
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. 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.

Key Facts

Key Facts

Net Assets of Fund
as of Nov 20, 2024
$33,859,294,228
Exchange
NASDAQ
Benchmark Index
Bloomberg U.S. MBS Index
Shares Outstanding
as of Nov 20, 2024
366,400,000
Premium/Discount
as of Nov 20, 2024
-0.09%
Closing Price
as of Nov 20, 2024
92.33
30 Day Median Bid/Ask Spread
as of Nov 20, 2024
0.01%
Fund Launch Date
Mar 13, 2007
Asset Class
Fixed Income
Bloomberg Index Ticker
LUMSTRUU
Distribution Frequency
Monthly
CUSIP
464288588
30 Day Avg. Volume
as of Nov 20, 2024
2,764,407.00
Daily Volume
as of Nov 20, 2024
2,199,225.00

NAIC Designated (Schedule D Eligible)

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Nov 19, 2024
11,091
30 Day SEC Yield
as of Nov 19, 2024
4.06%
Standard Deviation (3y)
as of Oct 31, 2024
8.48%
Average Yield to Maturity
as of Nov 19, 2024
5.17%
Weighted Avg Maturity
as of Nov 19, 2024
7.55 yrs
Convexity
as of Nov 19, 2024
-0.02
Equity Beta (3y)
as of Oct 31, 2024
0.35
12m Trailing Yield
as of Nov 19, 2024
3.85%
Unsubsidized 30-Day SEC Yield
as of Nov 19, 2024
4.06%
Weighted Avg Coupon
as of Nov 19, 2024
3.30
Effective Duration
as of Nov 19, 2024
5.53 yrs
Option Adjusted Spread
as of Nov 19, 2024
42.22 bps
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

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. MSCI Ratings are currently unavailable for this fund.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons
as of Nov 19, 2024
0.00%
MSCI - Nuclear Weapons
as of Nov 19, 2024
0.00%
MSCI - Civilian Firearms
as of Nov 19, 2024
0.00%
MSCI - Tobacco
as of Nov 19, 2024
0.00%
MSCI - UN Global Compact Violators
as of Nov 19, 2024
0.00%
MSCI - Thermal Coal
as of Nov 19, 2024
0.00%
MSCI - Oil Sands
as of Nov 19, 2024
0.00%
Business Involvement Coverage
as of Nov 19, 2024
2.96%
Percentage of Fund not covered
as of Nov 19, 2024
97.04%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.00% and for Oil Sands 0.00%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

Fees

Fees

as of current prospectus
Management Fee 0.04%
Acquired Fund Fees and Expenses 0.01%
Other Expenses 0.00%
Expense Ratio 0.05%
Fee Waivers 0.01%
Net Expense Ratio 0.04%

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

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for iShares MBS ETF, as of Oct 31, 2024 rated against 228 Intermediate Government Funds based on risk adjusted total return.

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. (Effective Sep 30, 2024)
Analyst-Driven % as of Sep 30, 2024
20.00
Data Coverage % as of Sep 30, 2024
82.00

Holdings

Holdings

as of Nov 19, 2024
Issuer Weight (%)
FEDERAL NATIONAL MORTGAGE ASSOCIATION 43.55
FEDERAL HOME LOAN MORTGAGE CORPORATION 30.03
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 20.90
Issuer Weight (%)
UNIFORM MBS 1.99
FEDERAL HOME LOAN MORTGAGE CORPORATION -GOLD 1.29
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I 0.88
Name Sector Asset Class Market Value Weight (%) Notional Value Par Value CUSIP ISIN SEDOL 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
Most transactions in fixed-rate mortgage pass-through securities occur through the use of "to-be-announced" or "TBA" transactions. The Fund regularly enters into TBA agreements. The Fund invests cash pending settlement of any TBA transactions in money market instruments, repurchase agreements or other high-quality, liquid short-term instruments, including money market funds advised by BFA, which are not included in the holdings shown.

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 Nov 19, 2024

% of Market Value

Type Fund
as of Nov 19, 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 Nov 19, 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.

Literature

Literature

 

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

Any links to third-party websites are provided for use at your own discretion. Each third party is solely responsible for the content presented and availability of its website. BlackRock does not control, monitor or maintain third-party websites, their content or the products/services they offer. Content may change without notice. When you leave BlackRock’s website and enter a third-party website, you will be subject to that site’s terms, policies and/or notices, including those related to privacy and security, as applicable. Please review those policies and notices on the third-party website.

Before engaging Fidelity or any broker-dealer, you should evaluate the overall fees and charges of the firm as well as the services provided. Free commission offer applies to online purchases of select iShares ETFs in a Fidelity account. The sale of ETFs is subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). For iShares ETFs, Fidelity receives compensation from the ETF sponsor and/or its affiliates in connection with an exclusive long-term marketing program that includes promotion of iShares ETFs and inclusion of iShares funds in certain Fidelity Brokerage Services platforms and investment programs. Please note, this security will not be marginable for 30 days from the settlement date, at which time it will automatically become eligible for margin collateral. Additional information about the sources, amounts, and terms of compensation can be found in the ETF’s prospectus and related documents. Fidelity may add or waive commissions on ETFs without prior notice.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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