CSD.U - Advantaged Short Duration High Income Fund

Commencement Date: 19-May-2011

All values for this fund are USD
iShares Advantaged Short Duration High Income, seeks to maximize total returns for unit-holders through both tax efficient monthly distributions and capital appreciation and to preserve capital. Distributions are intended to be tax efficient when compared to units of a trust that depends solely on interest, dividend and/or other investment income to pay distributions.

The Fund utilizes a Forward Agreement structure with a Canadian chartered bank or an affiliate thereof in order to provide exposure to the actively managed diversified portfolio (the "High Income Portfolio"). Amounts equal to the income generated by the High Income Portfolio (interest and/or foreign income) will be paid to Unitholders of the ETF primarily as return of capital distributions and as distributions of capital gains. Depending upon the application of a proposed measure in the 2013 Federal Budget relating to any extension or replacement of the Forward Agreement following the Budget date, such distributions may be treated as ordinary income.

iShares Canada Advisory Budget Announcement - March 25, 2013. Click here for more information.
CSD.U CAD

Quote

Historical Prices

 

Market Price

as of 22-May-2013

NAV

as of 22-May-2013

Close $19.90 $19.77
Change -$0.01   -0.05% $0.01   0.06%
52-week Range 19.16 - 19.95 18.95 - 19.95

Tools

Top Daily Holdings* as of 03-May-2013
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Holding % of Fund Coupon Maturity Ratings
THERMADYNE HOLDINGS CORP 2.39% 9.00 15-Dec-2017 B2/B-
SYMBION INC 2.27% 8.00 15-Jun-2016 B2/B
DUPONT FABROS TECHNOLOGY LP 2.17% 8.50 15-Dec-2017 Ba1/BB
ATKORE INTERNATIONAL INC 2.13% 9.88 01-Jan-2018 Caa1/B
KNOWLEDGE LEARNING CORP 2.13% 7.75 01-Feb-2015 Caa1/CCC-
BUMBLE BEE HOLDINGS INC 2.07% 9.00 15-Dec-2017 B3/B
GRIFOLS INC 2.05% 8.25 01-Feb-2018 B2/B+
PENN VIRGINIA RESOURCE PARTNERS LP 2.05% 8.25 15-Apr-2018 B2/B-
IGATE CORP 2.04% 9.00 01-May-2016 B2/B+
CREDIT ACCEPTANCE CORP 2.03% 9.13 01-Feb-2017 B1/BB
Total: 21.32%      
*Holdings are subject to change.

Sector Breakdown as of 03-May-2013
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Sector

% of Fund

Sector

% of Fund

 
Consumer Non Cyclical
15.01%
 
Industrial Other
3.31%
 
Consumer Cyclical
12.47%
 
Communications
2.93%
 
Technology
9.34%
 
Electric
2.58%
 
Financial Other
6.69%
 
Reits
2.17%
 
Capital Goods
4.21%
 
Other/Undefined
37.71%
 
Transportation
3.58%  

Maturity as of 03-May-2013
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Timeframe % of Maturity
0 - 1 Year 6.12%
1 - 5 Years 83.10%
5 - 10 Years 2.03%
10 - 15 Years 0.00%
15 - 20 Years 0.00%
20 - 25 Years 0.00%
25+ Years 0.00%
Average: 1.87  Years

Yield as of 22-May-2013
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  % 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.

 		5.04%
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 yield is calculated by summing any income distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past twelve months. This figure does not take into account management fees or other fund expenses.

 		5.04%
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.

 		4.15%

Fundamentals & Risk as of 22-May-2013

 
Weighted Average Term Weighted Average Term

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

 		1.87
Weighted Average Coupon (%) Weighted Average Coupon (%)

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

 		6.41%
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.

 		1.30

Profile

as of 22-May-2013

 
Assets Under Management $29,655,581
Investment Subadviser Guggenheim Investments
Fiscal Year End 31-Dec-2012
Units Outstanding 1,500,000
Number of Holdings 89
Inception Date 19-May-2011

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.

 		  0.58%
Forward Structure Costs Forward Structure Costs

Forward structure costs can vary with market conditions

 		  0.55% to 0.75%

Distribution Information as of  22-May-2013

 
Program Eligibility* DRIP / PACC / SWP
Eligible for Registered Plans Yes**
Distribution Frequency Monthly
Last Distribution per Share $0.08300
Distribution Yield 5.04%
Last Date Paid 31-May-2013
*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 CSD.U
Exchange Toronto Stock Exchange
CUSIP 46430G206
Listed Options N

Quality Ratings

as of 03-May-2013

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 1.55% 1.55%
Baa3/BBB- 1.05% 2.76%
Ba1/BB+ 2.17% 3.81%
Ba2/BB 4.48% 7.45%
Ba3/BB- 8.03% 10.30%
B1/B+ 18.14% 13.89%
B2/B 25.66% 18.41%
B3/B- 11.83% 22.80%
Caa1/CCC+ 12.98% 1.76%
Caa2/CCC 0.85% 2.71%
Caa3/CCC- 0.00% 2.13%
Ca/CC 0.00% 0.00%
C/C 0.00% 0.00%
NR/NR 1.76% 0.00%
Other/Other 0.00% 0.00%