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iShares Inflation Hedged Corporate Bond ETF

ETF
LQDI
Payout Change
Pending
Price as of:
$25.3348 -0.04 -0.14%
primary theme
Corporate Bond
LQDI (ETF)

iShares Inflation Hedged Corporate Bond ETF

Payout Change
Pending
Price as of:
$25.3348 -0.04 -0.14%
primary theme
Corporate Bond
LQDI (ETF)

iShares Inflation Hedged Corporate Bond ETF

Payout Change
Pending
Price as of:
$25.3348 -0.04 -0.14%
primary theme
Corporate Bond

Name

As of 04/16/2024

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

iShares Inflation Hedged Corporate Bond ETF

LQDI | ETF

$25.33

$42.5 M

4.65%

$1.18

0.33%

Vitals

YTD Return

-2.3%

1 yr return

1.7%

3 Yr Avg Return

-0.7%

5 Yr Avg Return

3.3%

Net Assets

$42.5 M

Holdings in Top 10

143.5%

52 WEEK LOW AND HIGH

$25.4
$24.05
$26.37

Expenses

OPERATING FEES

Expense Ratio 0.33%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 0.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 04/16/2024

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

iShares Inflation Hedged Corporate Bond ETF

LQDI | ETF

$25.33

$42.5 M

4.65%

$1.18

0.33%

LQDI - Profile

Distributions

  • YTD Total Return -2.3%
  • 3 Yr Annualized Total Return -0.7%
  • 5 Yr Annualized Total Return 3.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.14%
DIVIDENDS
  • Dividend Yield 4.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    iShares Inflation Hedged Corporate Bond ETF
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Oct 29, 2021
  • Shares Outstanding
    4150000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Mauro

Fund Description

The Fund seeks to track the investment results of the BlackRock Inflation Hedged Corporate Bond Index (the “Underlying Index”), which is designed to minimize the inflation risk of a portfolio composed of U.S. dollar-denominated, investment-grade corporate bonds, represented in the
Underlying Index by the Underlying Fund, by including a series of up to 10 inflation swap contracts with different maturities (as determined by BlackRock Index Services, LLC (the “Index Provider”)). As of October 31, 2023, the Underlying Index includes approximately 11 components, and the Underlying Fund includes approximately 2,652 components. The Fund invests in U.S. dollar-denominated, investment-grade corporate bonds primarily through its investment in the Underlying Fund. The Fund seeks to track the inflation hedging component of the Underlying Index primarily through the use of positions in inflation swaps (i.e., contracts in which the Fund makes fixed-rate payments based on a notional reference amount while receiving floating-rate payments on the same notional reference amount determined from an inflation index). The different maturities and weights of the swap contracts included in the Underlying Index are intended to hedge the portfolio’s inflation risk at key points on the yield curve, as determined by the Index Provider. The Underlying Index includes a fixed number of shares (to be adjusted in the event of any stock splits) of the Underlying Fund, and the Index Provider rebalances the weights of the inflation swap contracts included in the Underlying Index daily. On a monthly
basis, the Index Provider will add new inflation swap contracts to the Underlying Index and remove the previous month’s inflation swap contracts.
The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in component securities and instruments in the Fund’s 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 also invest in other instruments designed to transfer inflation risk from one party to another, including but not limited to U.S. Treasury Inflation Protected Securities “TIPS”), total return swaps, futures and options (collectively with inflation swaps, “inflation hedging instruments”). The Fund’s investments in inflation hedging instruments are not intended to mitigate credit risk or other factors influencing the price of investment-grade corporate bonds, which may have a greater impact than inflation rates. Moreover, to the extent that inflation risk has been priced into the investment-grade corporate bonds owned by the Fund or the Underlying Fund, the Fund will underperform the Underlying Fund even during inflationary periods.
A registered investment company and its adviser are subject to regulation by the CFTC if the registered investment
company invests more than a prescribed level of its net asset value in CFTC-regulated futures, options and swaps, or if the registered investment company markets itself as providing investment exposure to such instruments. Due to the Fund’s potential use of CFTC-regulated futures, options and swaps above the prescribed levels, it is considered a “commodity pool” and BFA is considered a commodity pool operator (“CPO”) with respect to the Fund under the Commodity Exchange Act (“CEA”).
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 and the Underlying Fund. “Representative sampling” is an indexing strategy that involves investing in a representative sample of securities and/or other instruments that collectively have an investment profile similar to that of an applicable underlying index. The securities and/or other instruments 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 or the Underlying Fund may or may not hold all of the securities and/or other instruments in the applicable Underlying Index.
The Fund may lend securities from its portfolio representing up to one-third of the value of the Fund's total assets (including the value of the collateral received).
The Underlying Index is sponsored by the Index Provider, an affiliated person of the Fund and of BFA, the Fund’s investment adviser. 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 an underlying fund is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
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LQDI - Performance

Return Ranking - Trailing

Period LQDI Return Category Return Low Category Return High Rank in Category (%)
YTD -2.3% -6.4% 2.8% 31.64%
1 Yr 1.7% -4.0% 8.0% 59.32%
3 Yr -0.7%* -10.1% 39.0% 4.02%
5 Yr 3.3%* -4.3% 26.0% 5.63%
10 Yr N/A* -0.6% 14.0% 21.67%

* Annualized

Return Ranking - Calendar

Period LQDI Return Category Return Low Category Return High Rank in Category (%)
2023 4.5% -5.6% 6.3% 36.16%
2022 -17.9% -28.7% 142.1% 22.73%
2021 4.9% -12.3% 4.9% 0.58%
2020 9.0% -8.0% 10.6% 2.37%
2019 12.0% 4.3% 13.4% 5.66%

Total Return Ranking - Trailing

Period LQDI Return Category Return Low Category Return High Rank in Category (%)
YTD -2.3% -6.4% 2.8% 31.64%
1 Yr 1.7% -4.0% 8.0% 59.32%
3 Yr -0.7%* -10.1% 39.0% 4.02%
5 Yr 3.3%* -4.3% 26.0% 5.63%
10 Yr N/A* -0.6% 14.0% N/A

* Annualized

Total Return Ranking - Calendar

Period LQDI Return Category Return Low Category Return High Rank in Category (%)
2023 8.9% -5.6% 12.9% 36.16%
2022 -15.3% -25.6% 151.8% 27.27%
2021 7.5% -5.1% 7.5% 0.58%
2020 11.8% -8.0% 116.0% 20.71%
2019 15.8% 6.7% 17.4% 6.29%

LQDI - Holdings

Concentration Analysis

LQDI Category Low Category High LQDI % Rank
Net Assets 42.5 M 5.45 M 47.3 B 89.83%
Number of Holdings 76 4 9989 97.18%
Net Assets in Top 10 63.9 M -29.6 M 2.71 B 59.89%
Weighting of Top 10 143.45% 1.6% 143.5% 0.56%

Top 10 Holdings

  1. iShares iBoxx $ Investment Grade Corporate Bond ETF 95.13%
  2. BlackRock Cash Funds: Institutional, SL Agency Shares 45.40%
  3. SWP: IFS 2.565000 02-JUN-2031 0.51%
  4. SWP: IFS 2.240000 12-JAN-2031 0.51%
  5. SWP: IFS 2.465500 07-APR-2031 0.40%
  6. BlackRock Cash Funds: Treasury, SL Agency Shares 0.40%
  7. SWP: IFS 2.401000 09-FEB-2031 0.32%
  8. SWP: IFS 1.947500 20-AUG-2050 0.27%
  9. SWP: IFS 2.921000 21-OCT-2026 0.26%
  10. SWP: IFS 2.614500 07-JAN-2037 0.23%

Asset Allocation

Weighting Return Low Return High LQDI % Rank
Stocks 		95.13% 0.00% 99.96% 1.13%
Cash 		45.81% -43.80% 45.81% 0.56%
Convertible Bonds 		4.20% 0.00% 78.47% 56.50%
Other 		0.18% -1.14% 13.53% 56.50%
Preferred Stocks 		0.00% 0.00% 9.18% 87.57%
Bonds 		0.00% 0.00% 136.47% 100.00%

Stock Sector Breakdown

Weighting Return Low Return High LQDI % Rank
Utilities 		0.00% 0.00% 100.00% N/A
Technology 		0.00% 0.00% 24.68% N/A
Real Estate 		0.00% 0.00% 100.00% N/A
Industrials 		0.00% 0.00% 8.34% N/A
Healthcare 		0.00% 0.00% 14.32% N/A
Financial Services 		0.00% 0.00% 100.00% N/A
Energy 		0.00% 0.00% 4.21% N/A
Communication Services 		0.00% 0.00% 8.64% N/A
Consumer Defense 		0.00% 0.00% 7.33% N/A
Consumer Cyclical 		0.00% 0.00% 11.22% N/A
Basic Materials 		0.00% 0.00% 3.60% N/A

Stock Geographic Breakdown

Weighting Return Low Return High LQDI % Rank
US 		95.13% 0.00% 99.96% 1.13%
Non US 		0.00% 0.00% 0.02% 79.10%

LQDI - Expenses

Operational Fees

LQDI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.33% 0.02% 46.23% 81.14%
Management Fee 0.20% 0.00% 1.35% 17.51%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.45% N/A

Sales Fees

LQDI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

LQDI 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.

LQDI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 259.00% 0.57%

LQDI - Distributions

Dividend Yield Analysis

LQDI Category Low Category High LQDI % Rank
Dividend Yield 4.65% 0.00% 6.13% 37.29%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

LQDI Category Low Category High LQDI % Rank
Net Income Ratio 2.14% 0.38% 5.93% 60.00%

Capital Gain Distribution Analysis

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

Distributions History

View More +

LQDI - Fund Manager Analysis

Managers

James Mauro

Start Date

Tenure

Tenure Rank

May 08, 2018

4.07

4.1%

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
0.33 24.76 6.74 2.41

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