CHB - Advantaged U.S. High Yield Bond Index ETF (CAD-Hedged)

The iShares Advantaged U.S. High Yield Bond Index ETF (CAD-Hedged) has been designed to replicate, to the extent possible, the performance of the Barclays Capital U.S. High Yield Very Liquid Index (hedged CAD), net of expenses. The fund has implemented a new interim investment strategy (the “Hybrid Strategy”) through which it will (i) continue to maintain exposure to the constituent securities of the index through the use of a forward agreement, and (ii) invest the proceeds from the sale of new units directly in constituent securities of the index. The Hybrid Strategy is intended to allow for the preservation of any tax benefits associated with the forward agreement until its expiration or earlier termination, while also allowing the fund to realize the benefits of accepting new subscriptions while respecting the growth limits for forward agreements set out in certain proposed new tax rules. BlackRock expects that these tax benefits will diminish over time as the fund accepts new subscriptions and the tax benefit is spread over the fund’s larger asset base. The fund will enter into currency forwards, directly or indirectly, that will seek to hedge its economic exposure to foreign currency denominated assets.
CHB CAD

Quote

Historical Prices

 

Market Price

as of 30-Jul-2014

NAV

as of 30-Jul-2014

Close $21.07 $21.18
Change -$0.08   -0.38% -$0.03   -0.15%
52-week Range 20.32 - 21.57 20.45 - 21.59

Top Daily Holdings* as of 30-Jul-2014
View all holdings

Holding % of Fund Coupon Maturity Ratings
COMMUNITY HEALTH SYSTEMS INC 0.97% 8.00 15-Nov-2019 B3/B-
TENET HEALTHCARE CORPORATION 0.88% 8.13 01-Apr-2022 B3/CCC+
HCA INC 0.86% 6.50 15-Feb-2020 Ba3/BB
ROYAL BANK OF SCOTLAND PLC (THE) 0.85% 6.13 15-Dec-2022 Ba3/BB+
ARCELORMITTAL 0.82% 5.50 01-Mar-2021 Ba1/BB+
INTERNATIONAL LEASE FINANCE CORP 0.78% 8.75 15-Mar-2017 Ba2/BB+
SANDRIDGE ENERGY INC 0.75% 7.50 15-Mar-2021 B2/B-
NUMERICABLE GROUP SA 0.73% 6.00 15-May-2022 Ba3/BB+
CHRYSLER GROUP LLC 0.72% 8.25 15-Jun-2021 B1/B
DISH DBS CORP 0.72% 6.75 01-Jun-2021 Ba3/BB-
Total: 8.09%      
*Holdings are subject to change.

Sector Breakdown as of 30-Jul-2014
View all holdings

 

Sector

% of Fund

Sector

% of Fund

 
Industrial
82.57%
 
Utility
4.41%
 
Financial Institutions
7.98%
 
Other/Undefined
5.04%

Maturity as of 30-Jul-2014
View all holdings

Timeframe % of Maturity
0 - 1 Year 0.00%
1 - 5 Years 21.13%
5 - 10 Years 76.39%
10 - 15 Years 0.42%
15 - 20 Years 0.26%
20 - 25 Years 0.00%
25+ Years 1.03%
Average: 4.77  Years

Yield as of 29-Jul-2014
View all distributions

  % of Yield
Distribution Yield Distribution Yield

The annual yield an investor would receive if the most recent fund distribution stayed the same going forward. The yield represents a single distribution from the fund and does not represent the total return of the fund. The yield is calculated by annualizing the most recent distribution and dividing by the fund NAV from the as-of date. This figure is net of management fees and other fund expenses.

6.60%
12-Month Trailing Yield 12-Month Trailing Yield

The yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. The 12-month trailing yield is calculated by summing any income distributions over the past twelve months and dividing by the fund NAV from the as-of date. This figure is net of management fees and other fund expenses.

5.93%
Weighted Average Yield to Maturity (%) Weighted Average Yield to Maturity (%)

The average YTM is the interest rate that will make the present value of the cash flows from a bond equal to its market price plus accrued interest. The average yield to maturity considers not only the coupon income, but any capital gain or loss that the investor will realize by holding the bonds to maturity. It also considers the reinvestment of the coupons.

5.36%

Fundamentals & Risk as of 29-Jul-2014

 
Weighted Average Term Weighted Average Term

The average number of years that each dollar of unpaid principal due on the mortgage remains outstanding.

4.77
Weighted Average Coupon (%) Weighted Average Coupon (%)

The mean of the coupon rate of the underlying bonds in a portfolio.

6.88%
Weighted Average Duration (yrs) Weighted Average Duration (yrs)

The mean duration of the underlying bonds in the portfolio of the fund.

Duration is a measure of the responsiveness of a bond's price to small changes in interest rates. Bond prices generally move inversely to interest rates.

4.31

Profile

as of 30-Jul-2014

 
Assets Under Management $387,622,014
Assets Under Management (Common and Advisor) $420,378,976
Investment Subadviser Barclays Capital
Fiscal Year End 31-Dec-2014
Units Outstanding 18,300,000
Number of Holdings
Inception Date 11-Jan-2010
Index Provider Barclays Capital
Underlying Index Barclays U.S. High-Yield Very Liquid Index CAD Hedged

Fees & Expenses

 
Management Fee Management Fee

The annual fee payable by the fund to BlackRock Canada for acting as trustee and manager of the fund.

  0.55%
Management Expense Ratio (MER) Management Expense Ratio(MER)

As reported in the fund's most recent Annual Management Report of Fund Performance. MER includes all management fees and GST/HST paid by the fund for the period, including fees paid indirectly as a result of holdings of other ETFs.

  0.54%
Forward Structure Costs Forward Structure Costs

This is the range of fees and hedging costs currently paid to the fund's forward counterparty on the portion of the fund's portfolio that maintains exposure to the High Income Portfolio through the use of a forward agreement. The fund may pay additional amounts to the counterparty in respect of hedging costs. Forward structure costs can vary with market conditions

  0.55% to 0.75%

Distribution Information as of  29-Jul-2014

 
Program Eligibility* DRIP / PACC / SWP
Eligible for Registered Plans Yes**
Distribution Frequency Monthly
Last Distribution per Share $0.11662
Distribution Yield 6.60%
Last Date Paid 31-Jul-2014
*BlackRock Canada offers these programs through the fund's transfer agent. Participation by individual brokerage can vary.
**Investors should consult their plan operator to verify whether their specific account supports investments in iShares ETFs.

Trading Information

 
Ticker CHB
Underlying Index Barclays U.S. High-Yield Very Liquid Index CAD Hedged
Exchange Toronto Stock Exchange
CUSIP 46432G105
Listed Options N

Quality Ratings

as of 30-Jul-2014

Rating Moody's S&P
Aaa/AAA 0.00% 0.00%
Aa1/AA+ 0.00% 0.00%
Aa2/AA 0.00% 0.00%
Aa3/AA- 0.00% 0.00%
A1/A+ 0.00% 0.00%
A2/A 0.00% 0.00%
A3/A- 0.00% 0.00%
Baa1/BBB+ 0.00% 0.00%
Baa2/BBB 0.13% 0.00%
Baa3/BBB- 0.08% 2.31%
Ba1/BB+ 6.23% 13.62%
Ba2/BB 11.21% 14.71%
Ba3/BB- 16.25% 14.53%
B1/B+ 16.77% 7.85%
B2/B 7.86% 12.28%
B3/B- 11.02% 11.02%
Caa1/CCC+ 8.94% 10.06%
Caa2/CCC 2.47% 0.51%
Caa3/CCC- 0.08% 0.86%
Ca/CC 0.00% 0.00%
C/C 0.00% 0.00%
NR/NR 7.05% 4.84%
Other/Other 11.90% 7.41%