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Name | Symbol | Market | Type |
---|---|---|---|
BlackRock Short Duration Bond ETF | AMEX:NEAR | AMEX | Exchange Traded Fund |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.105 | -0.21% | 50.095 | 50.18 | 50.10 | 50.18 | 475,402 | 01:00:00 |
Fund | Ticker | Listing Exchange | ||
iShares Interest Rate Hedged Corporate Bond ETF | LQDH | NYSE Arca | ||
iShares Interest Rate Hedged Emerging Markets Bond ETF | EMBH | NYSE Arca | ||
iShares Interest Rate Hedged High Yield Bond ETF | HYGH | NYSE Arca | ||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | IGBH | NYSE Arca |
• | iShares Interest Rate Hedged Corporate Bond ETF |
• | iShares Interest Rate Hedged Emerging Markets Bond ETF |
• | iShares Interest Rate Hedged High Yield Bond ETF |
• | iShares Interest Rate Hedged Long-Term Corporate Bond ETF |
1. | Concentrate its investments (i.e., invest 25% or more of its total assets in the securities of a particular industry or group of industries), except that the Fund will concentrate to approximately the same extent that an underlying fund concentrates in the securities of such particular industry or group of industries. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry. |
2. | Borrow money, except as permitted under the Investment Company Act. |
3. | Issue senior securities to the extent such issuance would violate the Investment Company Act. |
4. | Purchase or hold real estate, except the Fund may purchase and hold securities or other instruments that are secured by, or linked to, real estate or interests therein, securities of real estate investment trusts, mortgage-related securities and securities of issuers engaged in the real estate business, and the Fund may purchase and hold real estate as a result of the ownership of securities or other instruments. |
5. | Underwrite securities issued by others, except to the extent that the sale of portfolio securities by the Fund may be deemed to be an underwriting or as otherwise permitted by applicable law. |
6. | Purchase or sell commodities or commodity contracts, except as permitted by the Investment Company Act. |
7. | Make loans to the extent prohibited by the Investment Company Act. |
8. | Make any investment inconsistent with the Fund's classification as a diversified company under the Investment Company Act. |
1. | Concentrate its investments in a particular industry, as that term is used in the Investment Company Act, except that the Fund will concentrate to approximately the same extent that an underlying fund concentrates in the securities of a particular industry or group of industries. |
2. | Borrow money, except as permitted under the Investment Company Act. |
3. | Issue senior securities to the extent such issuance would violate the Investment Company Act. |
4. | Purchase or hold real estate, except the Fund may purchase and hold securities or other instruments that are secured by, or linked to, real estate or interests therein, securities of real estate investment trusts, mortgage-related securities and securities of issuers engaged in the real estate business, and the Fund may purchase and hold real estate as a result of the ownership of securities or other instruments. |
5. | Underwrite securities issued by others, except to the extent that the sale of portfolio securities by the Fund may be deemed to be an underwriting or as otherwise permitted by applicable law. |
6. | Purchase or sell commodities or commodity contracts, except as permitted by the Investment Company Act. |
7. | Make loans to the extent prohibited by the Investment Company Act. |
1. | Concentrate its investments in a particular industry, as that term is used in the Investment Company Act, except that the Fund will concentrate to approximately the same extent that an underlying fund concentrates in the securities of a particular industry or group of industries. |
2. | Borrow money, except as permitted under the Investment Company Act. |
3. | Issue senior securities to the extent such issuance would violate the Investment Company Act. |
4. | Purchase or hold real estate, except the Fund may purchase and hold securities or other instruments that are secured by, or linked to, real estate or interests therein, securities of real estate investment trusts, mortgage-related securities and securities of issuers engaged in the real estate business, and the Fund may purchase and hold real estate as a result of the ownership of securities or other instruments. |
5. | Underwrite securities issued by others, except to the extent that the sale of portfolio securities by the Fund may be deemed to be an underwriting or as otherwise permitted by applicable law. |
6. | Purchase or sell commodities or commodity contracts, except as permitted by the Investment Company Act. |
7. | Make loans to the extent prohibited by the Investment Company Act. |
8. | Make any investment inconsistent with the Fund's classification as a diversified company under the Investment Company Act. |
Name (Age) | Position |
Principal Occupation(s)
During the Past 5 Years |
Other Directorships
Held by Trustee |
|||
Robert S. Kapito1
(63) |
Trustee
(since 2011). |
President, BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares Trust (since 2009). | |||
Salim Ramji2
(49) |
Trustee (since 2019). | Senior Managing Director, BlackRock, Inc. (since 2014); Global Head of BlackRock’s ETF and Index Investments Business (since 2019); Head of BlackRock’s U.S. Wealth Advisory Business (2015-2019); Global Head of Corporate Strategy, BlackRock, Inc. (2014-2015); Senior Partner, McKinsey & Company (2010-2014). | Director of iShares, Inc. (since 2019); Trustee of iShares Trust (since 2019). |
1 | Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
2 | Salim Ramji is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Name (Age) | Position |
Principal Occupation(s)
During the Past 5 Years |
Other Directorships
Held by Trustee |
|||
Cecilia H. Herbert
(70) |
Trustee
(since 2011); Independent Board Chair (since 2016). |
Chair of the Finance Committee (since 2019) and Trustee and Member of the Finance, Technology and Quality Committees of Stanford Health Care (since 2016); Member
of the Audit Committee (since 2018) and Trustee and Member of the Investment Committee, WNET, a New York public media company (since 2011); Chair (1994-2005) and Member (since 1992) of the Investment Committee,
Archdiocese of San Francisco; Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios) (2015-2018); Director (1998-2013) and President (2007-2011) of the Board of Directors,
Catholic Charities CYO; Trustee (2002-2011) and Chair of the Finance and Investment Committee (2006-2010) of the Thacher School.
|
Director of iShares, Inc. (since 2005); Trustee of iShares Trust (since 2005); Independent Board Chair of iShares, Inc. and iShares Trust (since 2016); Trustee of Thrivent Church Loan and Income Fund (since 2019). | |||
Jane D. Carlin
(64) |
Trustee
(since 2015); Risk Committee Chair (since 2016). |
Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares Trust (since 2015); Member of the Audit Committee (since 2016) and Director of The Hanover Insurance Group, Inc. (since 2016). | |||
Richard L. Fagnani
(65) |
Trustee
(since 2017); Audit Committee Chair (since 2019). |
Partner, KPMG LLP (2002-2016). | Director of iShares, Inc. (since 2017); Trustee of iShares Trust (since 2017). | |||
John E. Kerrigan
(64) |
Trustee
(since 2011); Nominating and Governance and Equity Plus Committee Chairs (since 2019). |
Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares Trust (since 2005). |
Name (Age) | Position |
Principal Occupation(s)
During the Past 5 Years |
Other Directorships
Held by Trustee |
|||
Drew E. Lawton
(60) |
Trustee
(since 2017); 15(c) Committee Chair (since 2017). |
Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares Trust (since 2017). | |||
John E. Martinez
(58) |
Trustee
(since 2011); Securities Lending Committee Chair (since 2019). |
Director of Real Estate Equity Exchange, Inc. (since 2005). | Director of iShares, Inc. (since 2003); Trustee of iShares Trust (since 2003); Director of Cloudera Foundation (since 2017); and Director of Reading Partners (2012-2016). | |||
Madhav V. Rajan
(55) |
Trustee
(since 2011); Fixed Income Plus Committee Chair (since 2019). |
Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). |
Director of iShares, Inc. (since 2011);
Trustee of iShares Trust (since 2011). |
Name (Age) | Position |
Principal Occupation(s)
During the Past 5 Years |
||
Armando Senra
(48) |
President (since 2019). | Managing Director, BlackRock, Inc. (since 2007); Head of U.S., Canada and Latam iShares, BlackRock, Inc. (since 2019); Head of Latin America Region, BlackRock, Inc. (2006-2019); Managing Director, Bank of America Merrill Lynch (1994-2006). | ||
Trent Walker
(45) |
Treasurer and Chief Financial Officer
(since 2020). |
Managing Director of BlackRock, Inc. (since September 2019); Executive Vice President of PIMCO (2016-2019); Senior Vice President of PIMCO (2008-2015); Treasurer (2013-2019) and Assistant Treasurer (2007-2017) of PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Managed Accounts Trust, 2 PIMCO-sponsored interval funds and 21 PIMCO-sponsored closed-end funds. |
Name (Age) | Position |
Principal Occupation(s)
During the Past 5 Years |
||
Charles Park
(52) |
Chief Compliance Officer (since 2011). | Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the Equity-Bond Complex, the Equity-Liquidity Complex and the Closed-End Complex (since 2014); Chief Compliance Officer of BFA (since 2006). | ||
Deepa Damre
(44) |
Secretary (since 2019). | Managing Director, BlackRock, Inc. (since 2014); Director, BlackRock, Inc. (2009-2013). | ||
Scott Radell
(51) |
Executive Vice President
(since 2012). |
Managing Director, BlackRock, Inc. (since 2009); Head of Portfolio Solutions, BlackRock, Inc. (since 2009). | ||
Alan Mason
(59) |
Executive Vice President
(since 2016). |
Managing Director, BlackRock, Inc. (since 2009). | ||
Marybeth Leithead
(57) |
Executive Vice President
(since 2019). |
Managing Director, BlackRock, Inc. (since 2017); Chief Operating Officer of Americas iShares (since 2017); Portfolio Manager, Municipal Institutional & Wealth Management (2009-2016). |
Name | Fund |
Dollar Range of Equity
Securities in Named Fund |
Aggregate Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
Robert S. Kapito | None | None | None | |||
Salim Ramji1 | iShares Commodities Select Strategy ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | Over $100,000 | |||||
iShares Core MSCI Total International Stock ETF | $1-$10,000 | |||||
iShares Core S&P 500 ETF | $1-$10,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | $1-$10,000 | |||||
iShares Expanded Tech Sector ETF | $1-$10,000 | |||||
iShares Expanded Tech-Software Sector ETF | $1-$10,000 | |||||
iShares MSCI USA ESG Select ETF | $1-$10,000 | |||||
iShares North American Natural Resources ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $1-$10,000 | |||||
iShares TIPS Bond ETF | $10,001-$50,000 | |||||
Cecilia H. Herbert | iShares California Muni Bond ETF | Over $100,000 | Over $100,000 | |||
iShares China Large-Cap ETF | $50,001-$100,000 | |||||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Emerging Markets ETF | $1-$10,000 | |||||
iShares Core MSCI Total International Stock ETF | $10,001-$50,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Core S&P U.S. Growth ETF | $50,001-$100,000 | |||||
iShares Core S&P U.S. Value ETF | $50,001-$100,000 | |||||
iShares iBoxx $ High Yield Corporate Bond ETF | $10,001-$50,000 | |||||
iShares International Select Dividend ETF | $1-$10,000 | |||||
iShares MSCI EAFE ETF | $1-$10,000 | |||||
iShares MSCI Japan ETF | $10,001-$50,000 | |||||
iShares National Muni Bond ETF | $10,001-$50,000 | |||||
iShares Preferred and Income Securities ETF | $10,001-$50,000 | |||||
Name | Fund |
Dollar Range of Equity
Securities in Named Fund |
Aggregate Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
Jane D. Carlin | iShares 1-3 Year Treasury Bond ETF | $50,001-$100,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Core MSCI Total International Stock ETF | Over $100,000 | |||||
iShares Core S&P Mid-Cap ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | Over $100,000 | |||||
iShares Core U.S. Aggregate Bond ETF | Over $100,000 | |||||
iShares Edge MSCI Min Vol USA ETF | $50,001-$100,000 | |||||
iShares Global Tech ETF | $10,001-$50,000 | |||||
iShares MSCI ACWI ETF | Over $100,000 | |||||
iShares MSCI ACWI ex U.S. ETF | $50,001-$100,000 | |||||
iShares MSCI EAFE Small-Cap ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
Richard L. Fagnani | iShares Core MSCI EAFE ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core S&P 500 ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | $10,001-$50,000 | |||||
iShares Edge MSCI Multifactor Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Edge MSCI USA Value Factor ETF | $10,001-$50,000 | |||||
iShares Exponential Technologies ETF | $10,001-$50,000 | |||||
iShares Global Clean Energy ETF | $10,001-$50,000 | |||||
iShares MSCI EAFE Value ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $10,001-$50,000 | |||||
iShares S&P Small-Cap 600 Value ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares U.S. Financials ETF | $10,001-$50,000 | |||||
John E. Kerrigan | iShares MSCI ACWI ex U.S. ETF | Over $100,000 | Over $100,000 | |||
Drew E. Lawton | iShares 0-5 Year High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Total International Stock ETF | $50,001-$100,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | Over $100,000 |
Name | Fund |
Dollar Range of Equity
Securities in Named Fund |
Aggregate Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
iShares Exponential Technologies ETF | Over $100,000 | |||||
iShares MSCI Frontier 100 ETF | $1-$10,000 | |||||
iShares Nasdaq Biotechnology ETF | $50,001-$100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
John E. Martinez | iShares Core 5-10 Year USD Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core International Aggregate Bond ETF | Over $100,000 | |||||
iShares Global Consumer Staples ETF | Over $100,000 | |||||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Intermediate-Term Corporate Bond ETF | Over $100,000 | |||||
iShares MSCI EAFE ETF | Over $100,000 | |||||
iShares Russell 1000 ETF | Over $100,000 | |||||
iShares Russell 1000 Value ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
Madhav V. Rajan | iShares Broad USD High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | Over $100,000 | |||||
iShares Core High Dividend ETF | Over $100,000 | |||||
iShares Core MSCI EAFE ETF | Over $100,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Mortgage Real Estate ETF | Over $100,000 | |||||
iShares Preferred and Income Securities ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
iShares Select Dividend ETF | Over $100,000 | |||||
iShares Short-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 |
1 | Appointed to serve as an Interested Trustee effective June 19, 2019. |
Name |
iShares Interest Rate
Hedged Corporate Bond ETF |
iShares Interest Rate
Hedged Emerging Markets Bond ETF |
iShares Interest Rate
Hedged High Yield Bond ETF |
iShares Interest Rate
Hedged Long-Term Corporate Bond ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $23 | $2 | $29 | $15 | ||||
Richard L. Fagnani | 23 | 2 | 30 | 15 | ||||
Cecilia H. Herbert | 26 | 2 | 33 | 17 | ||||
Charles A. Hurty1 | 7 | 1 | 9 | 5 | ||||
John E. Kerrigan | 24 | 2 | 30 | 16 | ||||
Drew E. Lawton | 23 | 2 | 29 | 15 | ||||
John E. Martinez | 23 | 2 | 29 | 15 | ||||
Madhav V. Rajan | 23 | 2 | 29 | 15 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $0 | $0 | $0 | $0 | ||||
Salim Ramji2 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman3 | 0 | 0 | 0 | 0 |
Name |
Pension or
Retirement Benefits Accrued As Part of Trust Expenses4 |
Estimated Annual
Benefits Upon Retirement4 |
Total
Compensation From the Funds and Fund Complex5 |
|||
Independent Trustees: | ||||||
Jane D. Carlin | Not Applicable | Not Applicable | 395,000 | |||
Richard L. Fagnani | Not Applicable | Not Applicable | 421,764 | |||
Cecilia H. Herbert | Not Applicable | Not Applicable | 450,000 | |||
Charles A. Hurty1 | Not Applicable | Not Applicable | N/A | |||
John E. Kerrigan | Not Applicable | Not Applicable | 420,000 | |||
Drew E. Lawton | Not Applicable | Not Applicable | 406,764 | |||
John E. Martinez | Not Applicable | Not Applicable | 395,000 | |||
Madhav V. Rajan | Not Applicable | Not Applicable | 395,000 | |||
Interested Trustees: | ||||||
Robert S. Kapito | Not Applicable | Not Applicable | $0 | |||
Salim Ramji2 | Not Applicable | Not Applicable | 0 | |||
Mark K. Wiedman3 | Not Applicable | Not Applicable | 0 |
1 | Served as an Independent Trustee through December 31, 2018. |
2 | Appointed to serve as an Interested Trustee effective June 19, 2019. |
3 | Served as an Interested Trustee through June 19, 2019. |
4 | No Trustee or Officer is entitled to any pension or retirement benefits from the Trust. |
5 | Also includes compensation for service on the Board of Trustees of iShares Trust and the Board of Directors of iShares, Inc. |
Fund | Name |
Percentage of
Ownership |
||
iShares Interest Rate Hedged Corporate Bond ETF |
LPL Financial Corporation
9785 Towne Centre Drive San Diego, CA 92121-1968 |
12.72% | ||
National Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
12.41% | |||
Pershing LLC
One Pershing Plaza Jersey City, NJ 07399 |
10.68% | |||
Scotia Capital Inc.
Scotia Plaza 40 King Street West 23rd Floor Toronto, ON M5W 2X6 CA |
9.44% | |||
Charles Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
9.26% | |||
Wells Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
7.89% | |||
Merrill Lynch, Pierce, Fenner & Smith Incorporated
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.28% | |||
iShares Interest Rate Hedged Emerging Markets Bond ETF |
J.P. Morgan Securities, LLC/JPMC
500 Stanton Christiana Road Newark, DE 19713 |
19.83% | ||
Citibank, N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
13.73% | |||
Charles Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
11.51% |
Fund | Name |
Percentage of
Ownership |
||
National Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
10.84% | |||
Pershing LLC
One Pershing Plaza Jersey City, NJ 07399 |
7.55% | |||
Citadel Securities LLC
131 South Dearborn Street Chicago, IL 60603 |
6.83% | |||
Scotia Capital Inc.
Scotia Plaza 40 King Street West 23rd Floor Toronto, ON M5W 2X6 CA |
5.68% | |||
iShares Interest Rate Hedged High Yield Bond ETF |
National Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
24.87% | ||
Wells Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
8.99% | |||
Charles Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
7.98% | |||
Pershing LLC
One Pershing Plaza Jersey City, NJ 07399 |
7.17% | |||
LPL Financial Corporation
9785 Towne Centre Drive San Diego, CA 92121-1968 |
5.65% | |||
Goldman, Sachs & Co.
30 Hudson Street 16th Floor Jersey City, NJ 07302 |
5.03% | |||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF |
National Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
49.87% | ||
LPL Financial Corporation
9785 Towne Centre Drive San Diego, CA 92121-1968 |
21.82% | |||
Charles Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
7.84% |
Fund |
Management
Fee for Fiscal Year Ended Oct. 31, 2019 |
Fund Inception
Date |
Management
Fees Paid Net of Waivers for Fiscal Year Ended Oct. 31, 2019 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended Oct. 31, 2018 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended Oct. 31, 2017 |
|||||
iShares Interest Rate Hedged Corporate Bond ETF 1 | 0.30% | 05/27/14 | $184,178 | $165,513 | $61,145 | |||||
iShares Interest Rate Hedged Emerging Markets Bond ETF2 | 0.75% | 07/22/15 | 11,487 | 5,271 | 2,953 | |||||
iShares Interest Rate Hedged High Yield Bond ETF3 | 0.65% | 05/27/14 | 110,052 | 139,412 | 90,279 |
Fund |
Management
Fee for Fiscal Year Ended Oct. 31, 2019 |
Fund Inception
Date |
Management
Fees Paid Net of Waivers for Fiscal Year Ended Oct. 31, 2019 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended Oct. 31, 2018 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended Oct. 31, 2017 |
|||||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF4 | 0.35% | 07/22/15 | 53,024 | 33,627 | 11,863 |
1 | BFA has contractually agreed to waive a portion of its management fees so that the Fund’s total annual fund operating expenses after fee waiver is equal to the Acquired Fund Fees and Expenses attributable to the Fund’s investment in the iShares iBoxx $ Investment Grade Corporate Bond ETF (“LQD”), after taking into account any fee waivers by LQD, plus 0.10% through February 28, 2022. The contractual waiver may be terminated prior to February 28, 2022 only upon written agreement of the Trust and BFA. For the fiscal years ended October 31, 2019, October 31, 2018 and October 31, 2017, BFA waived $368,358, $331,046 and $122,291 of its management fees, respectively. |
2 | BFA has contractually agreed to waive a portion of its management fees so that the Fund’s total annual fund operating expenses after fee waiver is equal to the Acquired Fund Fees and Expenses attributable to the Fund’s investment in the iShares J.P. Morgan USD Emerging Markets Bond ETF (“EMB”), after taking into account any fee waivers by EMB, plus 0.10% through February 28, 2022. The contractual waiver may be terminated prior to February 28, 2022 only upon written agreement of the Trust and BFA. For the fiscal years ended October 31, 2019, October 31, 2018 and October 31, 2017, BFA waived $74,667, $34,264 and $19,194 of its management fees, respectively. |
3 | BFA has contractually agreed to waive a portion of its management fees so that the Fund’s total annual fund operating expenses after fee waiver is equal to the Acquired Fund Fees and Expenses attributable to the Fund’s investment in the iShares iBoxx $ High Yield Corporate Bond ETF (“HYG”), after taking into account any fee waivers by HYG, plus 0.05% through February 28, 2022. The contractual waiver may be terminated prior to February 28, 2022 only upon written agreement of the Trust and BFA. For the fiscal years ended October 31, 2019, October 31, 2018 and October 31, 2017, BFA waived $1,320,620, $1,673,256 and $1,083,350 of its management fees, respectively. |
4 | BFA has contractually agreed to waive a portion of its management fees so that the Fund’s total annual fund operating expenses after fee waiver is equal to the Acquired Fund Fees and Expenses attributable to the Fund’s investment in the iShares Long-Term Corporate Bond ETF (“IGLB”), after taking into account any fee waivers by IGLB, plus 0.10% through February 28, 2022. The contractual waiver may be terminated prior to February 28, 2022 only upon written agreement of the Trust and BFA. For the fiscal years ended October 31, 2019, October 31, 2018 and October 31, 2017, BFA waived $132,557, $84,068 and $29,656 of its management fees, respectively. |
James Mauro | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 86 | $380,176,000,000 | ||
Other Pooled Investment Vehicles | 30 | 113,803,000,000 | ||
Other Accounts | 27 | 24,100,000,000 |
Scott Radell | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 99 | $396,207,000,000 | ||
Other Pooled Investment Vehicles | 26 | 28,278,000,000 | ||
Other Accounts | 11 | 7,808,000,000 |
James Mauro | ||||
Types of Accounts |
Number of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Scott Radell | ||||
Types of Accounts |
Number of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 1 | $747,000,000 |
Fund | Fund Inception Date |
Administration, Custody
& Transfer Agency Expenses Paid During Fiscal Year Ended Oct. 31, 2019 |
Administration, Custody
& Transfer Agency Expenses Paid During Fiscal Year Ended Oct. 31, 2018 |
Administration, Custody
& Transfer Agency Expenses Paid During Fiscal Year Ended Oct. 31, 2017 |
||||
iShares Interest Rate Hedged Corporate Bond ETF | 05/27/14 | $21,855 | $13,265 | $1,914 | ||||
iShares Interest Rate Hedged Emerging Markets Bond ETF | 07/22/15 | 20,312 | 12,510 | 856 | ||||
iShares Interest Rate Hedged High Yield Bond ETF | 05/27/14 | 21,695 | 14,982 | 4,211 | ||||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 07/22/15 | 25,233 | 13,349 | 1,033 |
Fund |
iShares Interest Rate
Hedged Corporate Bond ETF |
iShares Interest Rate
Hedged Emerging Markets Bond ETF |
iShares Interest Rate
Hedged High Yield Bond ETF |
iShares Interest Rate
Hedged Long-Term Corporate Bond ETF |
Gross income from securities
lending activities |
$787,063 | $14,997 | $2,331,392 | $22,942 |
Fees and/or compensation for securities lending
activities and related services |
||||
Securities lending income paid to
BTC for services as securities lending agent |
16,660 | 383 | 158,232 | 3,310 |
Fund |
iShares Interest Rate
Hedged Corporate Bond ETF |
iShares Interest Rate
Hedged Emerging Markets Bond ETF |
iShares Interest Rate
Hedged High Yield Bond ETF |
iShares Interest Rate
Hedged Long-Term Corporate Bond ETF |
Cash collateral management
expenses not included in securities lending income paid to BTC |
12,414 | 251 | 35,942 | 300 |
Administrative fees not included in securities lending income paid
to BTC |
N/A | N/A | N/A | N/A |
Indemnification fees not included
in securities lending income paid to BTC |
N/A | N/A | N/A | N/A |
Rebates (paid to borrowers)
|
674,636 | 12,615 | 1,321,318 | 1,793 |
Other fees not
included in securities lending income paid to BTC |
N/A | N/A | N/A | N/A |
Aggregate fees/compensation for securities lending activities
|
703,710 | 13,249 | 1,515,492 | 5,403 |
Net income from securities lending activities
|
83,353 | 1,748 | 815,900 | 17,539 |
Fund |
Fund
Inception Date |
Brokerage
Commissions Paid During Fiscal Year Ended Oct. 31, 2019 |
Brokerage
Commissions Paid During Fiscal Year Ended Oct. 31, 2018 |
Brokerage
Commissions Paid During Fiscal Year Ended Oct. 31, 2017 |
||||
iShares Interest Rate Hedged Corporate Bond ETF | 05/27/14 | $ 1,378 | $692 | $116 | ||||
iShares Interest Rate Hedged Emerging Markets Bond ETF | 07/22/15 | 124 | 18 | 10 | ||||
iShares Interest Rate Hedged High Yield Bond ETF | 05/27/14 | 1,216 | 722 | 116 | ||||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 07/22/15 | 3,196 | 886 | 166 |
Fund |
Fiscal Year ended
Oct. 31, 2019 |
Fiscal Year ended
Oct. 31, 2018 |
||
iShares Interest Rate Hedged Corporate Bond ETF | 4% | 2% | ||
iShares Interest Rate Hedged Emerging Markets Bond ETF | 3% | 0% | ||
iShares Interest Rate Hedged High Yield Bond ETF | 1% | 0% | ||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 13% | 5% |
Fund |
Shares Per
Creation Unit |
Approximate
Value Per Creation Unit (U.S.$) |
||
iShares Interest Rate Hedged Corporate Bond ETF | 50,000 | $ 4,729,000 | ||
iShares Interest Rate Hedged Emerging Markets Bond ETF | 50,000 | 1,217,000 | ||
iShares Interest Rate Hedged High Yield Bond ETF | 50,000 | 4,413,000 | ||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 50,000 | 1,235,500 |
Fund |
Standard Creation
Transaction Fee |
Maximum Additional
Charge for Creations* |
||
iShares Interest Rate Hedged Corporate Bond ETF | $150 | 3.0% | ||
iShares Interest Rate Hedged Emerging Markets Bond ETF | 300 | 3.0% | ||
iShares Interest Rate Hedged High Yield Bond ETF | 150 | 3.0% | ||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 300 | 3.0% |
* | As a percentage of the net asset value per Creation Unit. |
Fund |
Standard Redemption
Transaction Fee |
Maximum Additional
Charge for Redemptions* |
||
iShares Interest Rate Hedged Corporate Bond ETF | $150 | 2.0% | ||
iShares Interest Rate Hedged Emerging Markets Bond ETF | 300 | 2.0% | ||
iShares Interest Rate Hedged High Yield Bond ETF | 150 | 2.0% | ||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 300 | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive of the standard redemption transaction fee. |
Argentina | |||
January 1 | April 2 | June 15 | November 6 |
February 24 | April 9 | July 9 | November 23 |
February 25 | April 10 | July 10 | December 7 |
March 23 | May 1 | August 17 | December 8 |
March 24 | May 25 | October 12 | December 25 |
Australia | |||
January 1 | May 4 | October 5 | |
January 27 | June 1 | November 3 | |
March 2 | June 8 | December 24^ | |
March 9 | August 3 | December 25 | |
April 10 | August 12 | December 28 | |
April 13 | September 28 | December 31^ |
Bahrain | |||
January 1 | May 26 | October 29 | |
May 24 | August 2 | December 16 | |
May 25 | August 20 | December 17 |
Belgium | |||
January 1 | May 21 | December 24^ | |
January 10^ | May 22 | December 25 | |
April 10 | June 1 | December 31^ | |
April 13 | July 21 | ||
May 1 | November 11 |
Brazil | |||
January 1 | May 1 | November 2 | |
February 24 | June 11 | November 20 | |
February 25 | July 9 | December 24^ | |
February 26* | September 7 | December 25 | |
April 10 | October 12 | December 31 | |
April 21 |
Canada | |||
January 1 | June 24 | November 11 | |
January 2 | July 1 | December 24^ | |
February 17 | August 3 | December 25 | |
April 10 | September 7 | December 28 | |
May 18 | October 12 |
Chile | |||
January 1 | July 16 | December 31 | |
April 10 | September 18 | ||
May 1 | October 12 | ||
May 21 | December 8 | ||
June 29 | December 25 |
China | |||
January 1 | April 6 | October 1 | |
January 24 | May 1 | October 2 | |
January 27 | May 4 | October 5 | |
January 28 | May 5 | October 6 | |
January 29 | June 25 | October 7 | |
January 30 | June 26 | October 8 |
China Connect-Bond Connect | |||
January 1 | April 30 | October 2 | |
January 27 | May 1 | October 26 | |
January 28 | June 25 | December 25 | |
April 10 | July 1 | ||
April 13 | October 1 |
Colombia | |||
January 1 | June 15 | November 2 | |
January 6 | June 22 | November 16 | |
March 23 | June 29 | December 8 | |
April 9 | July 20 | December 24 | |
April 10 | August 7 | December 25 | |
May 1 | August 17 | December 31 | |
May 25 | October 12 |
Costa Rica | |||
January 1 | May 1 | December 25 | |
April 9 | September 15 | ||
April 10 | October 12 |
Croatia | |||
January 1 | May 1 | November 18 | |
January 6 | June 11 | December 24 | |
April 10 | June 22 | December 25 | |
April 13 | August 5 | December 31 |
Egypt | |||
January 1 | May 24 | August 20 | |
January 7 | May 25 | October 6 | |
April 19 | July 23 | October 29 | |
April 20 | July 30 |
Finland | |||
January 1 | May 1 | December 25 | |
January 6 | May 21 | December 31 | |
April 10 | June 19 | ||
April 13 | December 24 |
France | |||||
January 1 | May 1 | December 31^ | |||
April 10 | December 24^ | ||||
April 13 | December 25 |
Germany | |||
January 1 | May 1 | December 25 | |
April 10 | June 1 | December 31 | |
April 13 | December 24 |
Ghana | |||
January 1 | May 1 | September 21 | |
January 7 | May 25 | December 4 | |
March 6 | July 30 | December 25 | |
April 10 | July 31 | December 28 | |
April 13 | August 4 |
Hungary | |||
January 1 | June 1 | December 24 | |
April 10 | August 20 | December 25 | |
April 13 | August 21 | ||
May 1 | October 23 |
India | |||
February 19 | April 6 | October 2 | |
February 21 | April 10 | October 30 | |
March 10 | April 14 | November 16 | |
March 25 | May 1 | November 30 | |
April 1 | May 7 | December 25 | |
April 2 | May 25 |
Indonesia | |||
January 1 | May 22 | August 17 | |
March 25 | May 25 | August 20 | |
April 10 | May 26 | October 29 | |
May 1 | May 27 | December 24 | |
May 7 | June 1 | December 25 | |
May 21 | July 31 | December 31 |
Ireland | |||
January 1 | May 4 | December 25 | |
March 17 | June 1 | December 28 | |
April 10 | August 3 | December 29 | |
April 13 | October 26 | December 31^ | |
May 1 | December 24^ |
Italy | |||
January 1 | May 1 | December 31 | |
April 10 | December 24 | ||
April 13 | December 25 |
Ivory Coast | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Japan | |||
January 1 | April 29 | September 21 | |
January 2 | May 4 | September 22 | |
January 3 | May 5 | November 3 | |
January 13 | May 6 | November 23 | |
February 11 | July 23 | December 31 | |
February 24 | July 24 | ||
March 20 | August 10 |
Jordan | |||
January 1 | May 26 | August 3 | |
May 24 | July 30 | August 20 | |
May 25 | August 2 | October 29 |
Kazakhstan | |||
January 1 | March 25 | August 31 | |
January 2 | May 1 | December 1 | |
January 7 | May 7 | December 16 | |
March 9 | May 8 | December 17 | |
March 23 | July 6 | December 18 | |
March 24 | July 31 |
Kenya | |||
January 1 | May 1 | July 31 | |
April 10 | May 25 | October 20 | |
April 13 | June 1 | December 25 |
Kuwait | |||
January 1 | May 24 | August 3 | |
January 2 | May 25 | August 20 | |
February 25 | May 26 | November 1 | |
February 26 | July 30 | ||
March 22 | August 2 |
Lithuania | |||
January 1 | May 1 | December 24 | |
March 11 | May 21 | December 25 | |
April 10 | June 24 | December 31 | |
April 13 | July 6 |
Luxembourg | |||
January 1 | May 1 | December 31^ | |
April 10 | December 24^ | ||
April 13 | December 25 |
Malaysia | |||
January 1 | May 11 | August 31 | |
January 24^ | May 25 | September 16 | |
January 27 | May 26 | October 29 | |
May 1 | July 31 | December 25 | |
May 7 | August 20 |
Mexico | |||
January 1 | April 10 | November 16 | |
February 3 | May 1 | December 25 | |
March 16 | September 16 | ||
April 9 | November 2 |
Morocco | |||
January 1 | July 30 | August 21 | |
May 1 | July 31 | October 30 | |
May 25 | August 14 | November 6 | |
May 26 | August 20 | November 18 |
The Netherlands | |||
January 1 | May 1 | December 31^ | |
April 10 | December 24^ | ||
April 13 | December 25 |
Nigeria | |||
January 1 | May 25 | October 29 | |
April 10 | June 12 | December 25 | |
April 13 | July 31 | ||
May 1 | October 1 |
Norway | |||
January 1 | April 13 | December 24 | |
April 8^ | May 1 | December 25 | |
April 9 | May 21 | December 31 | |
April 10 | June 1 |
Oman | |||
January 1 | July 23 | November 18 | |
March 22 | August 20 | ||
May 24 | October 29 |
Pakistan | |||
January 1 | May 25 | August 14 | |
February 5 | May 26 | August 27 | |
March 23 | May 27 | August 28 | |
April 23 | July 1 | October 29 | |
May 1 | July 30 | October 30 | |
May 22 | July 31 | December 25 |
Panama | |||
January 1 | April 9 | November 5 | |
January 13 | April 10 | November 10 | |
February 24 | May 1 | December 8 | |
February 25 | November 3 | December 25 | |
February 26 | November 4 | December 31 |
Peru | |||
January 1 | May 1 | October 8 | |
April 9 | June 29 | December 25 | |
April 10 | July 28 |
Philippines | |||
January 1 | May 1 | November 2 | |
February 25 | June 12 | November 30 | |
April 9 | August 21 | December 8 | |
April 10 | August 31 |
Poland | |||
January 1 | May 1 | December 25 | |
January 6 | June 11 | December 31^ | |
April 10^ | November 11 | ||
April 13 | December 24^ |
Qatar | |||
January 1 | May 24 | July 30 | |
February 11 | May 25 | ||
March 1 | May 26 |
Romania | |||
January 1 | May 1 | December 1 | |
January 2 | June 1 | December 25 | |
April 17 | June 8 | ||
April 20 | November 30 |
Russia | |||
January 1 | March 9 | May 11 | |
January 2 | May 1 | June 12 | |
January 7 | May 4 | November 4 | |
February 24 | May 5 |
Saudi Arabia | |||
May 24 | May 28 | August 4 | |
May 25 | July 30 | August 5 | |
May 26 | August 2 | September 23 | |
May 27 | August 3 |
Senegal | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | December 25 | |
May 1 | July 7 |
Slovakia | |||
January 1 | May 1 | November 17 | |
January 6 | May 8 | December 24 | |
April 10 | September 1 | December 25 | |
April 13 | September 15 |
South Africa | |||
January 1 | May 1 | December 16 | |
April 10 | June 16 | December 25 | |
April 13 | August 10 | ||
April 27 | September 24 |
Spain | |||
January 1 | May 1 | December 31^ | |
April 10 | December 24^ | ||
April 13 | December 25 |
Sri Lanka | |||
January 1 | April 10 | June 5 | |
January 10 | April 13 | August 3 | |
January 15 | April 14 | September 1 | |
February 4 | May 1 | October 1 | |
February 21 | May 7 | October 30 | |
March 9 | May 8 | December 25 | |
April 7 | May 25 | December 29 |
Sweden | |||
January 1 | April 30^ | October 30^ | |
January 6 | May 1 | December 24 | |
April 9^ | May 20^ | December 25 | |
April 10 | May 21 | December 31 | |
April 13 | June 19 |
Switzerland | |||
January 1 | April 20^ | September 14^ | |
January 2 | May 1 | December 24 | |
April 10 | May 21 | December 25 | |
April 13 | June 1 | December 31 |
Tunisia | |||
January 1 | May 1 | August 13 | |
January 14 | May 25 | August 20 | |
March 20 | July 30 | October 15 | |
April 9 | July 31 | October 28 |
Turkey | |||
January 1 | May 25 | July 31 | |
April 23 | May 26 | August 3 | |
May 1 | July 15 | October 28 | |
May 19 | July 30 | October 29 |
Ukraine | |||
January 1 | January 7 | October 14 | |
January 2 | May 1 | December 25 | |
January 6 | August 24 |
United Arab Emirates | |||
January 1 | May 26 | December 2 | |
May 24 | August 20 | December 3 | |
May 25 | December 1 |
The United Kingdom | |||
January 1 | May 8 | December 25 | |
April 10 | May 25 | December 28 | |
April 13 | August 31 |
The U.S. Bond Market | |||
January 1 | May 25 | November 26 | |
January 20 | July 2* | November 27* | |
February 17 | July 3 | December 24* | |
April 9* | September 7 | December 25 | |
April 10 | October 12 | December 31* | |
May 22* | November 11 |
* | The U.S. bond market has recommended early close. |
Uruguay | |||
January 1 | April 10 | October 12 | |
January 6 | May 1 | November 2 | |
February 24 | May 18 | December 25 | |
February 25 | June 19 | ||
April 9 | August 25 |
Vietnam | |||
January 1 | January 28 | May 1 | |
January 23 | January 29 | September 2 | |
January 24 | April 2 | ||
January 27 | April 30 |
Zambia | |||
January 1 | April 13 | July 7 | |
March 9 | May 1 | August 3 | |
March 12 | May 25 | October 19 | |
April 10 | July 6 | December 25 |
The U.S. Bond Market | |||
January 1 | May 31 | November 25 | |
January 18 | July 2* | November 26* | |
February 15 | July 5 | December 23* | |
April 1* | September 6 | December 24 | |
April 2 | October 11 | December 31* | |
May 28* | November 11 |
* | The U.S. bond market has recommended early close. |
2020 | ||||||
Country |
Trade
Date |
Settlement
Date |
Number of
Days to Settle |
|||
Australia | 12/21/20 | 12/29/20 | 8 | |||
12/22/20 | 12/30/20 | 8 | ||||
12/23/20 | 01/04/21 | 12 | ||||
China | 01/21/20 | 01/31/20 | 10 | |||
01/22/20 | 02/03/20 | 12 | ||||
01/23/20 | 02/04/20 | 12 | ||||
04/28/20 | 05/06/20 | 8 | ||||
04/29/20 | 05/07/20 | 8 | ||||
04/30/20 | 05/08/20 | 8 | ||||
09/28/20 | 10/09/20 | 11 | ||||
09/29/20 | 10/12/20 | 13 | ||||
09/30/20 | 10/13/20 | 13 | ||||
China Connect – Stock Connect | 01/23/20 | 01/31/20 | 8 | |||
04/28/20 | 05/06/20 | 8 | ||||
09/30/20 | 10/09/20 | 9 | ||||
Ghana | 07/28/20 | 08/05/20 | 8 | |||
07/29/20 | 08/06/20 | 8 | ||||
Indonesia | 05/19/20 | 05/28/20 | 9 | |||
05/20/20 | 05/29/20 | 9 | ||||
2020 | ||||||
Country |
Trade
Date |
Settlement
Date |
Number of
Days to Settle |
|||
Ireland | 12/22/20 | 12/30/20 | 8 | |||
12/23/20 | 01/04/21 | 12 | ||||
Israel | 04/06/20 | 04/16/20 | 10 | |||
04/07/20 | 04/19/20 | 12 | ||||
09/30/20 | 10/11/20 | 11 | ||||
10/01/20 | 10/12/20 | 11 | ||||
Kuwait | 05/19/20 | 05/27/20 | 8 | |||
05/20/20 | 05/28/20 | 8 | ||||
05/21/20 | 05/31/20 | 10 | ||||
07/27/20 | 08/04/20 | 8 | ||||
07/28/20 | 08/05/20 | 8 | ||||
07/29/20 | 08/06/20 | 8 | ||||
Norway | 04/06/20 | 04/14/20 | 8 | |||
04/07/20 | 04/15/20 | 8 | ||||
Pakistan | 05/20/20 | 05/28/20 | 8 | |||
05/21/20 | 05/29/20 | 8 | ||||
Qatar | 05/19/20 | 05/27/20 | 8 | |||
05/20/20 | 05/28/20 | 8 | ||||
05/21/20 | 05/31/20 | 10 | ||||
Russia | 04/28/20 | 05/06/20 | 8 | |||
04/29/20 | 05/07/20 | 8 | ||||
04/30/20 | 05/08/20 | 8 | ||||
Saudi Arabia | 05/20/20 | 05/31/20 | 11 | |||
05/21/20 | 06/01/20 | 11 | ||||
07/28/20 | 08/06/20 | 9 | ||||
07/29/20 | 08/09/20 | 11 | ||||
Sri Lanka | 04/06/20 | 04/15/20 | 9 | |||
04/08/20 | 04/16/20 | 8 | ||||
04/09/20 | 04/17/20 | 8 | ||||
Vietnam | 01/21/20 | 01/30/20 | 9 | |||
01/22/20 | 01/31/20 | 9 |
* | These worst-case redemption cycles are based on information regarding regular holidays available as of January 21, 2020, which may be out of date as of the date of this SAI. Based on changes in holidays, longer (worse) redemption cycles are possible. Further, regional holidays, the treatment by market participants of certain days as unofficial holidays (including days on which no or limited securities transactions occur as a result of substantially shortened trading hours), the elimination of existing holidays, or changes in local securities delivery practices, could affect the information set forth herein. |
Fund |
Net Capital Loss
Carryforward |
|
iShares Interest Rate Hedged Corporate Bond ETF | $9,006,965 | |
iShares Interest Rate Hedged Emerging Markets Bond ETF | 493,536 | |
iShares Interest Rate Hedged High Yield Bond ETF | 5,070,240 | |
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 2,504,399 |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure, mergers, asset sales and other special transactions |
• | Compensation and benefits |
• | Environmental and social issues |
• | General corporate governance matters and shareholder protections |
• | establishing an appropriate corporate governance structure |
• | supporting and overseeing management in setting long -term strategic goals, applicable measures of value-creation and milestones that will demonstrate progress, and steps taken if any obstacles are anticipated or incurred |
• | ensuring the integrity of financial statements |
• | making independent decisions regarding mergers, acquisitions and disposals |
• | establishing appropriate executive compensation structures |
• | addressing business issues, including environmental and social issues, when they have the potential to materially impact company reputation and performance |
• | current or former employment at the company or a subsidiary within the past several years |
• | being, or representing, a shareholder with a substantial shareholding in the company |
• | interlocking directorships |
• | having any other interest, business or other relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
1) | publish a disclosure in line with industry-specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
2) | disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
• | BlackRock clients who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock business partners or third parties who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock employees who may sit on the boards of public companies held in Funds managed by BlackRock |
• | Significant BlackRock, Inc. investors who may be issuers of securities held in Funds managed by BlackRock |
• | Securities of BlackRock, Inc. or BlackRock investment funds held in Funds managed by BlackRock |
• | BlackRock, Inc. board members who serve as senior executives of public companies held in Funds managed by BlackRock |
• | Adopted the Guidelines which are designed to protect and enhance the economic value of the companies in which BlackRock invests on behalf of clients. |
• | Established a reporting structure that separates BIS from employees with sales, vendor management or business partnership roles. In addition, BlackRock seeks to ensure that all engagements with corporate issuers, dissident shareholders or shareholder proponents are managed consistently and without regard to BlackRock’s relationship with such parties. Clients or business partners are not given special treatment or differentiated access to BIS. BIS prioritizes engagements based on factors including but not limited to our need for additional information to make a voting decision or our view on the likelihood that an engagement could lead to positive outcome(s) over time for the economic value of the company. Within the normal course of business, BIS may engage directly with BlackRock clients, business partners and/or third parties, and/or with employees with sales, vendor management or business partnership roles, in discussions regarding our approach to stewardship, general corporate governance matters, client reporting needs, and/or to otherwise ensure that proxy-related client service levels are met. |
• | Determined to engage, in certain instances, an independent fiduciary to vote proxies as a further safeguard to avoid potential conflicts of interest, to satisfy regulatory compliance requirements, or as may be otherwise required by applicable law. In such circumstances, the independent fiduciary provides BlackRock’s proxy voting agent with instructions, in accordance with the Guidelines, as to how to vote such proxies, and BlackRock’s proxy voting agent votes the proxy in accordance with the independent fiduciary’s determination. BlackRock uses an independent fiduciary to vote proxies of (i) any company that is affiliated with BlackRock, Inc., (ii) any public company that includes BlackRock employees on its board of directors, (iii) The PNC Financial Services Group, Inc., (iv) any public company of which a BlackRock, Inc. board member serves as a senior executive, and (v) companies when legal or regulatory requirements compel BlackRock to use an independent fiduciary. In selecting an independent fiduciary, we assess several characteristics, including but not limited to: independence, an ability to analyze proxy issues and vote in the best economic interest of our clients, reputation for reliability and integrity, and operational capacity to accurately deliver the assigned votes in a timely manner. We may engage more than one independent fiduciary, in part in order to mitigate potential or perceived conflicts of interest at an independent fiduciary. The Global Committee appoints and reviews the performance of the independent fiduciar(ies), generally on an annual basis. |
Contents | |
Introduction | A-16 |
Voting guidelines | A-16 |
Boards and directors | A-16 |
- Director elections | A-16 |
- Independence | A-16 |
- Oversight | A-17 |
- Responsiveness to shareholders | A-17 |
- Shareholder rights | A-17 |
- Board composition and effectiveness | A-18 |
- Board size | A-19 |
- CEO and management succession planning | A-19 |
- Classified board of directors / staggered terms | A-19 |
- Contested director elections | A-19 |
- Cumulative voting | A-19 |
- Director compensation and equity programs | A-19 |
- Majority vote requirements | A-19 |
- Risk oversight | A-20 |
- Separation of chairman and CEO | A-20 |
Auditors and audit-related issues | A-20 |
Capital structure proposals | A-21 |
- Equal voting rights | A-21 |
- Blank check preferred stock | A-21 |
- Increase in authorized common shares | A-21 |
- Increase or issuance of preferred stock | A-21 |
- Stock splits | A-22 |
Mergers, asset sales, and other special transactions | A-22 |
- Poison pill plans | A-22 |
- Reimbursement of expenses for successful shareholder campaigns | A-22 |
Executive Compensation | A-22 |
- Advisory resolutions on executive compensation (“Say on Pay”) | A-23 |
- Advisory votes on the frequency of Say on Pay resolutions | A-23 |
- Claw back proposals | A-23 |
- Employee stock purchase plans | A-23 |
- Equity compensation plans | A-23 |
- Golden parachutes | A-23 |
- Option exchanges | A-24 |
- Pay-for-Performance plans | A-24 |
- Supplemental executive retirement plans | A-24 |
Environmental and social issues | A-24 |
- Climate risk | A-25 |
- Corporate political activities | A-26 |
General corporate governance matters | A-26 |
- Adjourn meeting to solicit additional votes | A-26 |
- Bundled proposals | A-26 |
- Exclusive forum provisions | A-26 |
- Multi-jurisdictional companies | A-26 |
- Other business | A-27 |
- Reincorporation | A-27 |
- IPO governance | A-27 |
Contents | |
Shareholder Protections | A-27 |
- Amendment to charter / articles / bylaws | A-27 |
- Proxy access | A-28 |
- Right to act by written consent | A-28 |
- Right to call a special meeting | A-28 |
- Simple majority voting | A-28 |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure |
• | Mergers, asset sales, and other special transactions |
• | Executive compensation |
• | Environmental and social issues |
• | General corporate governance matters |
• | Shareholder protections |
• | Employment as a senior executive by the company or a subsidiary within the past five years |
• | An equity ownership in the company in excess of 20% |
• | Having any other interest, business, or relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
• | Where the board has failed to exercise oversight with regard to accounting practices or audit oversight, we will consider voting against the current audit committee, and any other members of the board who may be responsible. For example, this may apply to members of the audit committee during a period when the board failed to facilitate quality, independent auditing if substantial accounting irregularities suggest insufficient oversight by that committee |
• | Members of the compensation committee during a period in which executive compensation appears excessive relative to performance and peers, and where we believe the compensation committee has not already substantially addressed this issue |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where the board is not comprised of a majority of independent directors. However, this would not apply in the case of a controlled company |
• | Where it appears the director has acted (at the company or at other companies) in a manner that compromises his / her reliability to represent the best long-term economic interests of shareholders |
• | Where a director has a pattern of poor attendance at combined board and applicable key committee meetings. Excluding exigent circumstances, BlackRock generally considers attendance at less than 75% of the combined board and applicable key committee meetings by a board member to be poor attendance |
• | Where a director serves on an excess number of boards, which may limit his / her capacity to focus on each board’s requirements. The following illustrates the maximum number of boards on which a director may serve, before he / she is considered to be over-committed: |
Public
Company CEO |
# Outside
Public Boards* |
Total # of
Public Boards |
|||
Director A | x | 1 | 2 | ||
Director B | 3 | 4 |
* | In addition to the company under review |
• | The independent chair or lead independent director, members of the nominating / governance committee, and / or the longest tenured director(s), where we observe a lack of board responsiveness to shareholders, evidence of board entrenchment, and / or failure to promote adequate board succession planning |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where board member(s) at the most recent election of directors have received withhold votes from more than 30% of shares voted and the board has not taken appropriate action to respond to shareholder concerns. This may not apply in cases where BlackRock did not support the initial withhold vote |
• | The independent chair or lead independent director and / or members of the nominating / governance committee, where a board fails to implement shareholder proposals that receive a majority of votes cast at a prior shareholder meeting, and the proposals, in our view, have a direct and substantial impact on shareholders’ fundamental rights or long-term economic interests |
• | The independent chair or lead independent director and members of the governance committee, where a board implements or renews a poison pill without shareholder approval |
• | The independent chair or lead independent director and members of the governance committee, where a board amends the charter / articles / bylaws such that the effect may be to entrench directors or to significantly reduce shareholder rights |
• | Members of the compensation committee where the company has repriced options without shareholder approval |
• | If a board maintains a classified structure, it is possible that the director(s) with whom we have a particular concern may not be subject to election in the year that the concern arises. In such situations, if we have a concern regarding a committee or committee chair that is not up for re-election, we will generally register our concern by withholding votes from all available members of the relevant committee |
• | The mix of competencies, experience, and other qualities required to effectively oversee and guide management in light of the stated long-term strategy of the company |
• | The process by which candidates are identified and selected, including whether professional firms or other sources outside of incumbent directors’ networks have been engaged to identify and / or assess candidates |
• | The process by which boards evaluate themselves and any significant outcomes of the evaluation process, without divulging inappropriate and / or sensitive details |
• | The consideration given to board diversity, including, but not limited to, gender, ethnicity, race, age, experience, geographic location, skills, and perspective in the nomination process |
Combined
Chair / CEO Model |
Separate
Chair Model |
||||
Chair / CEO | Lead Director | Chair | |||
Board Meetings | Authority to call full meetings of the board of directors |
Attends full meetings of the board of directors
Authority to call meetings of independent directors Briefs CEO on issues arising from executive sessions |
Authority to call full meetings of the board of directors | ||
Agenda | Primary responsibility for shaping board agendas, consulting with the lead director | Collaborates with chair / CEO to set board agenda and board information | Primary responsibility for shaping board agendas, in conjunction with CEO | ||
Board Communications | Communicates with all directors on key issues and concerns outside of full board meetings | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning |
• | Appears to have a legitimate financing motive for requesting blank check authority |
• | Has committed publicly that blank check preferred shares will not be used for anti-takeover purposes |
• | Has a history of using blank check preferred stock for financings |
• | Has blank check preferred stock previously outstanding such that an increase would not necessarily provide further anti-takeover protection but may provide greater financing flexibility |
• | The degree to which the proposed transaction represents a premium to the company’s trading price. We consider the share price over multiple time periods prior to the date of the merger announcement. In most cases, business combinations should provide a premium. We may consider comparable transaction analyses provided by the parties’ financial advisors and our own valuation assessments. For companies facing insolvency or bankruptcy, a premium may not apply |
• | There should be clear strategic, operational, and / or financial rationale for the combination |
• | Unanimous board approval and arm’s-length negotiations are preferred. We will consider whether the transaction involves a dissenting board or does not appear to be the result of an arm’s-length bidding process. We may also consider whether executive and / or board members’ financial interests in a given transaction appear likely to affect their ability to place shareholders’ interests before their own |
• | We prefer transaction proposals that include the fairness opinion of a reputable financial advisor assessing the value of the transaction to shareholders in comparison to recent similar transactions |
• | Whether we believe that the triggering event is in the best interest of shareholders |
• | Whether management attempted to maximize shareholder value in the triggering event |
• | The percentage of total premium or transaction value that will be transferred to the management team, rather than shareholders, as a result of the golden parachute payment |
• | Whether excessively large excise tax gross-up payments are part of the pay-out |
• | Whether the pay package that serves as the basis for calculating the golden parachute payment was reasonable in light of performance and peers |
• | Whether the golden parachute payment will have the effect of rewarding a management team that has failed to effectively manage the company |
• | The company has experienced significant stock price decline as a result of macroeconomic trends, not individual company performance |
• | Directors and executive officers are excluded; the exchange is value neutral or value creative to shareholders; tax, accounting, and other technical considerations have been fully contemplated |
• | There is clear evidence that absent repricing, the company will suffer serious employee incentive or retention and recruiting problems |
• | Publish disclosures in line with industry specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
• | Disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | See our commentary on our approach to engagement on TCFD and SASB aligned reporting for greater detail of our expectations. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
Fund | Ticker | Listing Exchange | ||
iShares Short Maturity Bond ETF | NEAR | Cboe BZX | ||
iShares Short Maturity Municipal Bond ETF | MEAR | Cboe BZX | ||
iShares Ultra Short-Term Bond ETF | ICSH | Cboe BZX |
• | iShares Short Maturity Bond ETF |
• | iShares Short Maturity Municipal Bond ETF |
• | iShares Ultra Short-Term Bond ETF |
• | High yield bonds may be issued by less creditworthy issuers. These securities are vulnerable to adverse changes in the issuer’s industry or to general economic conditions. Issuers of high yield bonds may be unable to meet their interest or principal payment obligations because of an economic downturn, specific issuer developments or the unavailability of additional financing. |
• | The issuers of high yield bonds may have a larger amount of outstanding debt relative to their assets than issuers of investment grade bonds. If the issuer experiences financial stress, it may be unable to meet its debt obligations. The issuer’s ability to pay its debt obligations also may be lessened by specific issuer developments, or the unavailability of additional financing. Issuers of high yield securities are often in the growth stage of their development and/or involved in a reorganization or takeover. |
• | High yield bonds are frequently ranked junior to claims by other creditors. If the issuer cannot meet its obligations, the senior obligations are generally paid off before the junior obligations, which will potentially limit a Fund’s ability to fully recover principal, to receive interest payments when senior securities are in default or to receive restructuring benefits paid to holders of more senior classes of debt. Thus, investors in high yield securities frequently have a lower degree of protection with respect to principal and interest payments than do investors in higher rated securities. |
• | High yield bonds frequently have redemption features that permit an issuer to repurchase the security from a Fund before it matures. If an issuer redeems the high yield bonds, a Fund may have to invest the proceeds in bonds with lower yields and may lose income. |
• | Prices of high yield bonds are subject to extreme fluctuations. Negative economic developments may have a greater impact on the prices of high yield bonds than on those of other higher rated fixed-income securities. |
• | The secondary markets for high yield securities are not as liquid as the secondary markets for higher rated securities. The secondary markets for high yield securities are concentrated in relatively few market makers and, participants in the markets are mostly institutional investors, including insurance companies, banks, other financial institutions and mutual funds. In addition, the trading volume for high yield securities is generally lower than that for higher rated securities and the secondary markets could contract under adverse market or economic conditions independent of any specific adverse changes in the condition of a particular issuer. Under certain economic and/or market conditions, a Fund may have difficulty disposing of certain high yield securities due to the limited number of investors in that sector of the market. An illiquid secondary market may adversely affect the market price of the high yield security, which may result in increased difficulty selling the particular issue and obtaining accurate market quotations on the issue when valuing a Fund's assets. Market quotations on high yield securities are available only from a limited number of dealers, and such quotations may not be the actual prices available for a purchase or sale. When the secondary market for high yield securities becomes more illiquid, or in the absence of readily available market quotations for such securities, the relative lack of reliable objective data makes it more difficult to value such securities, and judgment plays a more important role in determining such valuations. |
• | A Fund may incur expenses to the extent necessary to seek recovery upon default or to negotiate new terms with a defaulting issuer. |
• | The high yield bond markets may react strongly to adverse news about an issuer or the economy, or to the perception or expectation of adverse news, whether or not it is based on fundamental analysis. Additionally, prices for high yield securities may be affected by legislative and regulatory developments. These developments could adversely affect a Fund’s net asset value and investment practices, the secondary market for high yield securities, the financial condition of issuers of these securities and the value and liquidity of outstanding high yield securities, especially in a thinly traded market. For example, federal legislation requiring the divestiture by federally insured savings and loan associations of their investments in high yield bonds and limiting the deductibility of interest by certain corporate issuers of high yield bonds adversely affected the market in the past. |
1. | Purchase the securities of issuers conducting their principal business activity in the same industry if, immediately after the purchase and as a result thereof, the value of the Fund’s investments in that industry would equal or exceed 25% of the current value of the Fund’s total assets, provided that this restriction does not limit the Fund’s: (i) investments in securities of other investment companies, (ii) investments in securities issued or guaranteed by the U.S. government, its agencies or instrumentalities, or (iii) investments in repurchase agreements collateralized by U.S. government securities; and (iv) wholly-owned finance companies will be considered to be in the industries of their parents if their activities are primarily related to financing the activities of the parents. Financial services will be divided according to its industries; for example, commercial banks, thrifts and mortgage finance, diversified financial services, consumer finance, capital markets, insurance, REITs and real estate management and development will each be considered a separate industry. |
2. | Borrow money, except that (i) the Fund may borrow from banks for temporary or emergency (not leveraging) purposes, including the meeting of redemption requests which might otherwise require the untimely disposition of securities; and (ii) the Fund may, to the extent consistent with its investment policies, enter into repurchase agreements, reverse repurchase agreements, forward roll transactions and similar investment strategies and techniques. To the extent that it engages in transactions described in (i) and (ii), the Fund will be limited so that no more than 33 1/3% of the value of its total assets (including the amount borrowed) is derived from such transactions. Any borrowings which come to exceed this amount will be reduced in accordance with applicable law. |
3. | Issue any senior security, except as permitted under the 1940 Act, as amended, and as interpreted, modified or otherwise permitted by regulatory authority having jurisdiction, from time to time. |
4. | Make loans, except as permitted under the 1940 Act, as interpreted, modified or otherwise permitted by regulatory authority having jurisdiction, from time to time. |
5. | Purchase or sell real estate unless acquired as a result of ownership of securities or other instruments (but this restriction shall not prevent the Fund from investing in securities of companies engaged in the real estate business or securities or other instruments backed by real estate or mortgages), or commodities or commodity contracts. |
6. | Engage in the business of underwriting securities issued by other persons, except to the extent that the Fund may technically be deemed to be an underwriter under the 1933 Act, in disposing of portfolio securities. |
1. | Concentrate its investments in a particular industry, as that term is used in the Investment Company Act. |
2. | Borrow money, except as permitted under the Investment Company Act. |
3. | Issue senior securities to the extent such issuance would violate the Investment Company Act. |
4. | Purchase or hold real estate, except the Fund may purchase and hold securities or other instruments that are secured by, or linked to, real estate or interests therein, securities of REITs, mortgage-related securities and securities of issuers engaged in the real estate business, and the Fund may purchase and hold real estate as a result of the ownership of securities or other instruments. |
5. | Underwrite securities issued by others, except to the extent that the sale of portfolio securities by the Fund may be deemed to be an underwriting or as otherwise permitted by applicable law. |
6. | Purchase or sell commodities or commodity contracts, except as permitted by the Investment Company Act. |
7. | Make loans to the extent prohibited by the Investment Company Act. |
8. | Make any investment inconsistent with the Fund's classification as a diversified company under the Investment Company Act. |
Name (Age) | Position |
Principal Occupation(s)
During the Past 5 Years |
Other Directorships
Held by Trustee |
|||
Robert S. Kapito1
(63) |
Trustee
(since 2011). |
President, BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares Trust (since 2009). | |||
Salim Ramji2
(49) |
Trustee (since 2019). | Senior Managing Director, BlackRock, Inc. (since 2014); Global Head of BlackRock’s ETF and Index Investments Business (since 2019); Head of BlackRock’s U.S. Wealth Advisory Business (2015-2019); Global Head of Corporate Strategy, BlackRock, Inc. (2014-2015); Senior Partner, McKinsey & Company (2010-2014). | Director of iShares, Inc. (since 2019); Trustee of iShares Trust (since 2019). |
1 | Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
2 | Salim Ramji is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Name (Age) | Position |
Principal Occupation(s)
During the Past 5 Years |
Other Directorships
Held by Trustee |
|||
Cecilia H. Herbert
(70) |
Trustee
(since 2011); Independent Board Chair (since 2016). |
Chair of the Finance Committee (since 2019) and Trustee and Member of the Finance, Technology and Quality Committees of Stanford Health Care (since 2016); Member
of the Audit Committee (since 2018) and Trustee and Member of the Investment Committee, WNET, a New York public media company (since 2011); Chair (1994-2005) and Member (since 1992) of the Investment Committee,
Archdiocese of San Francisco; Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios) (2015-2018); Director (1998-2013) and President (2007-2011) of the Board of Directors,
Catholic Charities CYO; Trustee (2002-2011) and Chair of the Finance and Investment Committee (2006-2010) of the Thacher School.
|
Director of iShares, Inc. (since 2005); Trustee of iShares Trust (since 2005); Independent Board Chair of iShares, Inc. and iShares Trust (since 2016); Trustee of Thrivent Church Loan and Income Fund (since 2019). | |||
Jane D. Carlin
(64) |
Trustee
(since 2015); Risk Committee Chair (since 2016). |
Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares Trust (since 2015); Member of the Audit Committee (since 2016) and Director of The Hanover Insurance Group, Inc. (since 2016). | |||
Richard L. Fagnani
(65) |
Trustee
(since 2017); Audit Committee Chair (since 2019). |
Partner, KPMG LLP (2002-2016). | Director of iShares, Inc. (since 2017); Trustee of iShares Trust (since 2017). | |||
John E. Kerrigan
(64) |
Trustee
(since 2011); Nominating and Governance and Equity Plus Committee Chairs (since 2019). |
Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares Trust (since 2005). |
Name (Age) | Position |
Principal Occupation(s)
During the Past 5 Years |
Other Directorships
Held by Trustee |
|||
Drew E. Lawton
(60) |
Trustee
(since 2017); 15(c) Committee Chair (since 2017). |
Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares Trust (since 2017). | |||
John E. Martinez
(58) |
Trustee
(since 2011); Securities Lending Committee Chair (since 2019). |
Director of Real Estate Equity Exchange, Inc. (since 2005). | Director of iShares, Inc. (since 2003); Trustee of iShares Trust (since 2003); Director of Cloudera Foundation (since 2017); and Director of Reading Partners (2012-2016). | |||
Madhav V. Rajan
(55) |
Trustee
(since 2011); Fixed Income Plus Committee Chair (since 2019). |
Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). |
Director of iShares, Inc. (since 2011);
Trustee of iShares Trust (since 2011). |
Name (Age) | Position |
Principal Occupation(s)
During the Past 5 Years |
||
Armando Senra
(48) |
President (since 2019). | Managing Director, BlackRock, Inc. (since 2007); Head of U.S., Canada and Latam iShares, BlackRock, Inc. (since 2019); Head of Latin America Region, BlackRock, Inc. (2006-2019); Managing Director, Bank of America Merrill Lynch (1994-2006). | ||
Trent Walker
(45) |
Treasurer and Chief Financial Officer
(since 2020). |
Managing Director of BlackRock, Inc. (since September 2019); Executive Vice President of PIMCO (2016-2019); Senior Vice President of PIMCO (2008-2015); Treasurer (2013-2019) and Assistant Treasurer (2007-2017) of PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Managed Accounts Trust, 2 PIMCO-sponsored interval funds and 21 PIMCO-sponsored closed-end funds. |
Name (Age) | Position |
Principal Occupation(s)
During the Past 5 Years |
||
Charles Park
(52) |
Chief Compliance Officer (since 2011). | Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the Equity-Bond Complex, the Equity-Liquidity Complex and the Closed-End Complex (since 2014); Chief Compliance Officer of BFA (since 2006). | ||
Deepa Damre
(44) |
Secretary (since 2019). | Managing Director, BlackRock, Inc. (since 2014); Director, BlackRock, Inc. (2009-2013). | ||
Scott Radell
(51) |
Executive Vice President
(since 2012). |
Managing Director, BlackRock, Inc. (since 2009); Head of Portfolio Solutions, BlackRock, Inc. (since 2009). | ||
Alan Mason
(59) |
Executive Vice President
(since 2016). |
Managing Director, BlackRock, Inc. (since 2009). | ||
Marybeth Leithead
(57) |
Executive Vice President
(since 2019). |
Managing Director, BlackRock, Inc. (since 2017); Chief Operating Officer of Americas iShares (since 2017); Portfolio Manager, Municipal Institutional & Wealth Management (2009-2016). |
Name | Fund |
Dollar Range of Equity
Securities in Named Fund |
Aggregate Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
Robert S. Kapito | None | None | None | |||
Salim Ramji1 | iShares Commodities Select Strategy ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | Over $100,000 | |||||
iShares Core MSCI Total International Stock ETF | $1-$10,000 | |||||
iShares Core S&P 500 ETF | $1-$10,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | $1-$10,000 | |||||
iShares Expanded Tech Sector ETF | $1-$10,000 | |||||
iShares Expanded Tech-Software Sector ETF | $1-$10,000 | |||||
iShares MSCI USA ESG Select ETF | $1-$10,000 | |||||
iShares North American Natural Resources ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $1-$10,000 | |||||
iShares TIPS Bond ETF | $10,001-$50,000 | |||||
Cecilia H. Herbert | iShares California Muni Bond ETF | Over $100,000 | Over $100,000 | |||
iShares China Large-Cap ETF | $50,001-$100,000 | |||||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Emerging Markets ETF | $1-$10,000 | |||||
iShares Core MSCI Total International Stock ETF | $10,001-$50,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Core S&P U.S. Growth ETF | $50,001-$100,000 | |||||
iShares Core S&P U.S. Value ETF | $50,001-$100,000 | |||||
iShares iBoxx $ High Yield Corporate Bond ETF | $10,001-$50,000 | |||||
iShares International Select Dividend ETF | $1-$10,000 | |||||
iShares MSCI EAFE ETF | $1-$10,000 | |||||
iShares MSCI Japan ETF | $10,001-$50,000 | |||||
iShares National Muni Bond ETF | $10,001-$50,000 | |||||
iShares Preferred and Income Securities ETF | $10,001-$50,000 | |||||
Name | Fund |
Dollar Range of Equity
Securities in Named Fund |
Aggregate Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
Jane D. Carlin | iShares 1-3 Year Treasury Bond ETF | $50,001-$100,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Core MSCI Total International Stock ETF | Over $100,000 | |||||
iShares Core S&P Mid-Cap ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | Over $100,000 | |||||
iShares Core U.S. Aggregate Bond ETF | Over $100,000 | |||||
iShares Edge MSCI Min Vol USA ETF | $50,001-$100,000 | |||||
iShares Global Tech ETF | $10,001-$50,000 | |||||
iShares MSCI ACWI ETF | Over $100,000 | |||||
iShares MSCI ACWI ex U.S. ETF | $50,001-$100,000 | |||||
iShares MSCI EAFE Small-Cap ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
Richard L. Fagnani | iShares Core MSCI EAFE ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core S&P 500 ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | $10,001-$50,000 | |||||
iShares Edge MSCI Multifactor Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Edge MSCI USA Value Factor ETF | $10,001-$50,000 | |||||
iShares Exponential Technologies ETF | $10,001-$50,000 | |||||
iShares Global Clean Energy ETF | $10,001-$50,000 | |||||
iShares MSCI EAFE Value ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $10,001-$50,000 | |||||
iShares S&P Small-Cap 600 Value ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares U.S. Financials ETF | $10,001-$50,000 | |||||
John E. Kerrigan | iShares MSCI ACWI ex U.S. ETF | Over $100,000 | Over $100,000 | |||
Drew E. Lawton | iShares 0-5 Year High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Total International Stock ETF | $50,001-$100,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | Over $100,000 |
Name | Fund |
Dollar Range of Equity
Securities in Named Fund |
Aggregate Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
iShares Exponential Technologies ETF | Over $100,000 | |||||
iShares MSCI Frontier 100 ETF | $1-$10,000 | |||||
iShares Nasdaq Biotechnology ETF | $50,001-$100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
John E. Martinez | iShares Core 5-10 Year USD Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core International Aggregate Bond ETF | Over $100,000 | |||||
iShares Global Consumer Staples ETF | Over $100,000 | |||||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Intermediate-Term Corporate Bond ETF | Over $100,000 | |||||
iShares MSCI EAFE ETF | Over $100,000 | |||||
iShares Russell 1000 ETF | Over $100,000 | |||||
iShares Russell 1000 Value ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
Madhav V. Rajan | iShares Broad USD High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | Over $100,000 | |||||
iShares Core High Dividend ETF | Over $100,000 | |||||
iShares Core MSCI EAFE ETF | Over $100,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Mortgage Real Estate ETF | Over $100,000 | |||||
iShares Preferred and Income Securities ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
iShares Select Dividend ETF | Over $100,000 | |||||
iShares Short-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 |
1 | Appointed to serve as an Interested Trustee effective June 19, 2019. |
Name |
iShares Short Maturity
Bond ETF |
iShares Short
Maturity Municipal Bond ETF |
iShares Ultra
Short-Term Bond ETF |
|||
Independent Trustees: | ||||||
Jane D. Carlin | $1,397 | $52 | $548 | |||
Richard L. Fagnani | 1,434 | 53 | 563 | |||
Cecilia H. Herbert | 1,599 | 59 | 627 | |||
Charles A. Hurty1 | 447 | 17 | 175 | |||
John E. Kerrigan | 1,459 | 54 | 572 | |||
Drew E. Lawton | 1,397 | 52 | 548 | |||
John E. Martinez | 1,397 | 52 | 548 | |||
Madhav V. Rajan | 1,397 | 52 | 548 | |||
Interested Trustees: | ||||||
Robert S. Kapito | $0 | $0 | $0 | |||
Salim Ramji2 | 0 | 0 | 0 | |||
Mark K. Wiedman3 | 0 | 0 | 0 |
Name |
Pension or
Retirement Benefits Accrued As Part of Trust Expenses4 |
Estimated Annual
Benefits Upon Retirement4 |
Total
Compensation From the Funds and Fund Complex5 |
|||
Independent Trustees: | ||||||
Jane D. Carlin | Not Applicable | Not Applicable | $395,000 | |||
Richard L. Fagnani | Not Applicable | Not Applicable | 421,764 | |||
Cecilia H. Herbert | Not Applicable | Not Applicable | 450,000 | |||
Charles A. Hurty1 | Not Applicable | Not Applicable | N/A | |||
John E. Kerrigan | Not Applicable | Not Applicable | 420,000 | |||
Drew E. Lawton | Not Applicable | Not Applicable | 406,764 | |||
John E. Martinez | Not Applicable | Not Applicable | 395,000 | |||
Madhav V. Rajan | Not Applicable | Not Applicable | 395,000 | |||
Interested Trustees: | ||||||
Robert S. Kapito | Not Applicable | Not Applicable | $0 | |||
Salim Ramji2 | Not Applicable | Not Applicable | 0 | |||
Mark K. Wiedman3 | Not Applicable | Not Applicable | 0 |
1 | Served as an Independent Trustee through December 31, 2018. |
2 | Appointed to serve as an Interested Trustee effective June 19, 2019. |
3 | Served as an Interested Trustee through June 19, 2019. |
4 | No Trustee or Officer is entitled to any pension or retirement benefits from the Trust. |
5 | Also includes compensation for service on the Board of Trustees of iShares Trust and the Board of Directors of iShares, Inc. |
Fund | Name |
Percentage
of Ownership |
||
iShares Short Maturity Bond ETF |
National Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
15.27% | ||
TD Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
13.10% | |||
Merrill Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
8.84% | |||
Charles Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
8.64% | |||
Morgan Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
7.33% | |||
Pershing LLC
One Pershing Plaza Jersey City, NJ 07399 |
6.01% | |||
iShares Short Maturity Municipal Bond ETF |
National Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
21.68% | ||
TD Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
15.46% | |||
Merrill Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
14.93% | |||
Charles Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
11.34% | |||
Pershing LLC
One Pershing Plaza Jersey City, NJ 07399 |
6.99% |
Fund | Name |
Percentage
of Ownership |
||
LPL Financial Corporation
9785 Towne Centre Drive San Diego, CA 92121-1968 |
5.25% | |||
iShares Ultra Short-Term Bond ETF |
National Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
26.26% | ||
Charles Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
19.54% | |||
TD Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
11.72% | |||
Merrill Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
7.82% |
Fund |
Management Fee
for Fiscal Year Ended Oct. 31, 2019 |
Fund
Inception Date |
Management
Fees Paid, Net of Waivers, for Fiscal Year Ended Oct. 31, 2019 |
Management
Fees Paid, Net of Waivers, for Fiscal Year Ended Oct. 31, 2018 |
Management
Fees Paid, Net of Waivers, for Fiscal Year Ended Oct. 31, 2017 |
|||||
iShares Short Maturity Bond ETF | 0.25% | 09/25/13 | $15,445,292 | $9,228,872 | $6,109,671 | |||||
iShares Short Maturity Municipal Bond ETF | 0.25% | 03/03/15 | 439,207 | 176,030 | 95,727 | |||||
iShares Ultra Short-Term Bond ETF1 | 0.08% | 12/11/13 | 1,078,536 | 246,749 | 77,115 |
1 | Effective December 16, 2016, the management fee for the iShares Ultra Short-Term Bond ETF is 0.08%. Prior to December 16, 2016, the management fee for the iShares Ultra Short-Term Bond ETF was 0.18%. |
Kristi Manidis* | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 8 | $7,949,000,000 | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 27 | 9,037,000,000 |
Richard Mejzak*** | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 25 | $272,731,000,000 | ||
Other Pooled Investment Vehicles | 10 | 31,814,000,000 | ||
Other Accounts | 104 | 115,883,000,000 |
Thomas Musmanno** | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 3 | $729,000,000 | ||
Other Pooled Investment Vehicles | 4 | 1,709,000,000 |
Thomas Musmanno** | ||||
Types of Accounts | Number | Total Assets | ||
Other Accounts | 105 | 37,968,000,000 |
Scott Radell | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 100 | $387,848,000,000 | ||
Other Pooled Investment Vehicles | 26 | 28,278,000,000 | ||
Other Accounts | 11 | 7,808,000,000 |
Kevin A. Schiatta* | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 6 | $6,723,000,000 | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 1 | 4,189,000,000 |
Kristi Manidis* | ||||
Types of Accounts |
Number of Other
Accounts with Performance-Based Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A |
Kristi Manidis* | ||||
Types of Accounts |
Number of Other
Accounts with Performance-Based Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Other Accounts | 0 | N/A |
Richard Mejzak*** | ||||
Types of Accounts |
Number of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 1 | $23,000,000 |
Thomas Musmanno** | ||||
Types of Accounts |
Number of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 2 | $665,000,000 |
Scott Radell | ||||
Types of Accounts |
Number of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 1 | $747,000,000 |
Kevin A. Schiatta* | ||||
Types of Accounts |
Number of Other
Accounts with Performance-Based Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Kristi Manidis | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Short Maturity Bond ETF | X | ||||||||||||||
iShares Short Maturity Municipal Bond ETF | X | ||||||||||||||
iShares Ultra Short-Term Bond ETF | X |
Richard Mejzak | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Short Maturity Bond ETF | X | ||||||||||||||
iShares Short Maturity Municipal Bond ETF | X | ||||||||||||||
iShares Ultra Short-Term Bond ETF | X |
Thomas Musmanno | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Short Maturity Bond ETF | X | ||||||||||||||
iShares Short Maturity Municipal Bond ETF | X | ||||||||||||||
iShares Ultra Short-Term Bond ETF | X |
Scott Radell | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Short Maturity Bond ETF | X | ||||||||||||||
iShares Short Maturity Municipal Bond ETF | X | ||||||||||||||
iShares Ultra Short-Term Bond ETF | X |
Kevin A. Schiatta | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Short Maturity Bond ETF | X | ||||||||||||||
iShares Short Maturity Municipal Bond ETF | X | ||||||||||||||
iShares Ultra Short-Term Bond ETF | X |
Fund |
Fund
Inception Date |
Administration, Custody
& Transfer Agency Expenses Paid During Fiscal Year Ended Oct. 31, 2019 |
Administration, Custody
& Transfer Agency Expenses Paid During Fiscal Year Ended Oct. 31, 2018 |
Administration, Custody
& Transfer Agency Expenses Paid During Fiscal Year Ended Oct. 31, 2017 |
||||
iShares Short Maturity Bond ETF | 09/25/13 | $48,801 | $24,689 | $31,013 | ||||
iShares Short Maturity Municipal Bond ETF | 03/03/15 | 17,761 | 13,251 | 1,546 | ||||
iShares Ultra Short-Term Bond ETF | 12/11/13 | 32,493 | 28,311 | 5,842 |
Fund |
iShares Short Maturity
Bond ETF |
iShares Short
Maturity Municipal Bond ETF |
iShares Ultra
Short-Term Bond ETF |
Gross income from
securities lending activities |
$2,921,861 | N/A | N/A |
Fees and/or compensation
for securities lending activities and related services |
|||
Securities lending
income paid to BTC for services as securities lending agent |
59,092 | N/A | N/A |
Fund |
iShares Short Maturity
Bond ETF |
iShares Short
Maturity Municipal Bond ETF |
iShares Ultra
Short-Term Bond ETF |
Cash collateral
management expenses not included in securities lending income paid to BTC |
45,284 | N/A | N/A |
Administrative fees not
included in securities lending income paid to BTC |
N/A | N/A | N/A |
Indemnification fees not
included in securities lending income paid to BTC |
N/A | N/A | N/A |
Rebates (paid to
borrowers) |
2,528,112 | N/A | N/A |
Other fees not
included in securities lending income paid to BTC |
N/A | N/A | N/A |
Aggregate
fees/compensation for securities lending activities |
2,632,488 | N/A | N/A |
Net income from securities
lending activities |
289,373 | N/A | N/A |
Fund | Issuer |
Market Value of
Investment |
||
iShares Short Maturity Bond ETF | Bank of America Corp. | $ 117,932,782 | ||
Morgan Stanley | 84,188,165 | |||
Goldman Sachs Group Inc. (The) | 83,982,432 | |||
JPMorgan Chase & Co. | 83,291,565 | |||
Barclays PLC | 57,149,910 | |||
Citigroup, Inc. | 53,510,874 | |||
Wells Fargo & Co. | 50,553,596 | |||
Mizuho Financial Group, Inc. | 48,330,217 | |||
Credit Suisse AG | 17,252,662 | |||
Royal Bank of Canada | 5,004,905 | |||
iShares Ultra Short-Term Bond ETF | Goldman Sachs Group Inc. (The) | $ 17,338,759 | ||
Royal Bank of Canada | 13,999,358 | |||
Bank of New York Mellon Corp. (The) | 12,015,960 | |||
Citigroup, Inc. | 10,025,700 | |||
Wells Fargo & Co. | 9,538,306 | |||
Bank of America Corp. | 9,177,741 | |||
JPMorgan Chase & Co | 8,503,740 | |||
Mitsubishi UFJ Financial Group, Inc. | 3,525,938 |
Fund |
Fiscal Year Ended
Oct. 31, 2019 |
Fiscal Year Ended
Oct. 31, 2018 |
||
iShares Short Maturity Bond ETF | 58% | 48% | ||
iShares Short Maturity Municipal Bond ETF | 170% | 221% | ||
iShares Ultra Short-Term Bond ETF | 16% | 32% |
Fund |
Shares Per
Creation Unit |
Approximate
Value Per Creation Unit |
||
iShares Short Maturity Bond ETF | 50,000 | $ 2,517,000 | ||
iShares Short Maturity Municipal Bond ETF | 50,000 | 2,506,500 | ||
iShares Ultra Short-Term Bond ETF | 50,000 | 2,519,500 |
Fund |
Standard Creation
Transaction Fee |
Maximum Additional
Charge for Creations* |
||
iShares Short Maturity Bond ETF | $600 | 3.0% | ||
iShares Short Maturity Municipal Bond ETF | 300 | 3.0% | ||
iShares Ultra Short-Term Bond ETF | 500 | 3.0% |
* | As a percentage of the net asset value per Creation Unit. |
Fund |
Standard Redemption
Transaction Fee |
Maximum Additional
Charge for Redemptions* |
||
iShares Short Maturity Bond ETF | $600 | 2.0% | ||
iShares Short Maturity Municipal Bond ETF | 300 | 2.0% | ||
iShares Ultra Short-Term Bond ETF | 500 | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive of the standard redemption transaction fee. |
Australia | |||
January 1 | May 4 | October 5 | |
January 27 | June 1 | November 3 | |
March 2 | June 8 | December 24^ | |
March 9 | August 3 | December 25 | |
April 10 | August 12 | December 28 | |
April 13 | September 28 | December 31^ |
Canada | |||
January 1 | June 24 | November 11 | |
January 2 | July 1 | December 24^ | |
February 17 | August 3 | December 25 | |
April 10 | September 7 | December 28 | |
May 18 | October 12 |
China | |||
January 1 | April 6 | October 1 | |
January 24 | May 1 | October 2 | |
January 27 | May 4 | October 5 | |
January 28 | May 5 | October 6 | |
January 29 | June 25 | October 7 | |
January 30 | June 26 | October 8 |
China Connect-Bond Connect | |||
January 1 | April 30 | October 2 | |
January 27 | May 1 | October 26 | |
January 28 | June 25 | December 25 | |
April 10 | July 1 | ||
April 13 | October 1 |
Denmark | |||
January 1 | May 8 | June 5 | |
April 9 | May 21 | December 24 | |
April 10 | May 22 | December 25 | |
April 13 | June 1 | December 31 |
Finland | |||
January 1 | May 1 | December 25 | |
January 6 | May 21 | December 31 | |
April 10 | June 19 | ||
April 13 | December 24 |
France | |||||
January 1 | May 1 | December 31^ | |||
April 10 | December 24^ | ||||
April 13 | December 25 |
Germany | |||
January 1 | May 1 | December 25 | |
April 10 | June 1 | December 31 | |
April 13 | December 24 |
Ireland | |||
January 1 | May 4 | December 25 | |
March 17 | June 1 | December 28 | |
April 10 | August 3 | December 29 | |
April 13 | October 26 | December 31^ | |
May 1 | December 24^ |
Japan | |||
January 1 | April 29 | September 21 | |
January 2 | May 4 | September 22 | |
January 3 | May 5 | November 3 | |
January 13 | May 6 | November 23 | |
February 11 | July 23 | December 31 | |
February 24 | July 24 | ||
March 20 | August 10 |
Luxembourg | |||
January 1 | May 1 | December 31^ | |
April 10 | December 24^ | ||
April 13 | December 25 |
New Zealand | |||
January 1 | April 13 | December 25 | |
January 2 | April 27 | December 28 | |
February 6 | June 1 | ||
April 10 | October 26 |
Norway | |||
January 1 | April 13 | December 24 | |
April 8^ | May 1 | December 25 | |
April 9 | May 21 | December 31 | |
April 10 | June 1 |
Singapore | |||
January 1 | May 1 | July 31 | |
January 27 | May 7 | August 10 | |
April 10 | May 25 | December 25 |
South Korea | |||
January 1 | May 1 | October 9 | |
January 24 | May 5 | December 25 | |
January 27 | September 30 | December 31 | |
April 15 | October 1 | ||
April 30 | October 2 |
Spain | |||
January 1 | May 1 | December 31^ | |
April 10 | December 24^ | ||
April 13 | December 25 |
Sweden | |||
January 1 | April 30^ | October 30^ | |
January 6 | May 1 | December 24 | |
April 9^ | May 20^ | December 25 | |
April 10 | May 21 | December 31 | |
April 13 | June 19 |
Switzerland | |||
January 1 | April 20^ | September 14^ | |
January 2 | May 1 | December 24 | |
April 10 | May 21 | December 25 | |
April 13 | June 1 | December 31 |
The U.S. Bond Market | |||
January 1 | May 25 | November 26 | |
January 20 | July 2* | November 27* | |
February 17 | July 3 | December 24* | |
April 9* | September 7 | December 25 | |
April 10 | October 12 | December 31* | |
May 22* | November 11 |
* | The U.S. bond market has recommended early close. |
The U.S. Bond Market | |||
January 1 | May 31 | November 25 | |
January 18 | July 2* | November 26* | |
February 15 | July 5 | December 23* | |
April 1* | September 6 | December 24 | |
April 2 | October 11 | December 31* | |
May 28* | November 11 |
* | The U.S. bond market has recommended early close. |
2020 | ||||||
Country |
Trade
Date |
Settlement
Date |
Number of
Days to Settle |
|||
Australia | 12/21/20 | 12/29/20 | 8 | |||
12/22/20 | 12/30/20 | 8 | ||||
12/23/20 | 01/04/21 | 12 | ||||
China | 01/21/20 | 01/31/20 | 10 | |||
01/22/20 | 02/03/20 | 12 | ||||
01/23/20 | 02/04/20 | 12 | ||||
04/28/20 | 05/06/20 | 8 | ||||
04/29/20 | 05/07/20 | 8 | ||||
04/30/20 | 05/08/20 | 8 | ||||
09/28/20 | 10/09/20 | 11 | ||||
09/29/20 | 10/12/20 | 13 | ||||
09/30/20 | 10/13/20 | 13 | ||||
China Connect – Stock Connect | 01/23/20 | 01/31/20 | 8 | |||
04/28/20 | 05/06/20 | 8 | ||||
09/30/20 | 10/09/20 | 9 | ||||
Ireland | 12/22/20 | 12/30/20 | 8 | |||
12/23/20 | 01/04/21 | 12 | ||||
Norway | 04/06/20 | 04/14/20 | 8 | |||
04/07/20 | 04/15/20 | 8 |
* | These worst-case redemption cycles are based on information regarding regular holidays available as of January 21, 2020, which may be out of date as of the date of this SAI. Based on changes in holidays, longer (worse) redemption cycles are possible. Further, regional holidays, the treatment by market participants of certain days as unofficial holidays (including days on which no or limited securities transactions occur as a result of substantially shortened trading hours), the elimination of existing holidays, or changes in local securities delivery practices, could affect the information set forth herein. |
Fund |
Net Capital Loss
Carryforward |
|
iShares Short Maturity Municipal Bond ETF | $125,178 |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure, mergers, asset sales and other special transactions |
• | Compensation and benefits |
• | Environmental and social issues |
• | General corporate governance matters and shareholder protections |
• | establishing an appropriate corporate governance structure |
• | supporting and overseeing management in setting long -term strategic goals, applicable measures of value-creation and milestones that will demonstrate progress, and steps taken if any obstacles are anticipated or incurred |
• | ensuring the integrity of financial statements |
• | making independent decisions regarding mergers, acquisitions and disposals |
• | establishing appropriate executive compensation structures |
• | addressing business issues, including environmental and social issues, when they have the potential to materially impact company reputation and performance |
• | current or former employment at the company or a subsidiary within the past several years |
• | being, or representing, a shareholder with a substantial shareholding in the company |
• | interlocking directorships |
• | having any other interest, business or other relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
1) | publish a disclosure in line with industry-specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
2) | disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
• | BlackRock clients who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock business partners or third parties who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock employees who may sit on the boards of public companies held in Funds managed by BlackRock |
• | Significant BlackRock, Inc. investors who may be issuers of securities held in Funds managed by BlackRock |
• | Securities of BlackRock, Inc. or BlackRock investment funds held in Funds managed by BlackRock |
• | BlackRock, Inc. board members who serve as senior executives of public companies held in Funds managed by BlackRock |
• | Adopted the Guidelines which are designed to protect and enhance the economic value of the companies in which BlackRock invests on behalf of clients. |
• | Established a reporting structure that separates BIS from employees with sales, vendor management or business partnership roles. In addition, BlackRock seeks to ensure that all engagements with corporate issuers, dissident shareholders or shareholder proponents are managed consistently and without regard to BlackRock’s relationship with such parties. Clients or business partners are not given special treatment or differentiated access to BIS. BIS prioritizes engagements based on factors including but not limited to our need for additional information to make a voting decision or our view on the likelihood that an engagement could lead to positive outcome(s) over time for the economic value of the company. Within the normal course of business, BIS may engage directly with BlackRock clients, business partners and/or third parties, and/or with employees with sales, vendor management or business partnership roles, in discussions regarding our approach to stewardship, general corporate governance matters, client reporting needs, and/or to otherwise ensure that proxy-related client service levels are met. |
• | Determined to engage, in certain instances, an independent fiduciary to vote proxies as a further safeguard to avoid potential conflicts of interest, to satisfy regulatory compliance requirements, or as may be otherwise required by applicable law. In such circumstances, the independent fiduciary provides BlackRock’s proxy voting agent with instructions, in accordance with the Guidelines, as to how to vote such proxies, and BlackRock’s proxy voting agent votes the proxy in accordance with the independent fiduciary’s determination. BlackRock uses an independent fiduciary to vote proxies of (i) any company that is affiliated with BlackRock, Inc., (ii) any public company that includes BlackRock employees on its board of directors, (iii) The PNC Financial Services Group, Inc., (iv) any public company of which a BlackRock, Inc. board member serves as a senior executive, and (v) companies when legal or regulatory requirements compel BlackRock to use an independent fiduciary. In selecting an independent fiduciary, we assess several characteristics, including but not limited to: independence, an ability to analyze proxy issues and vote in the best economic interest of our clients, reputation for reliability and integrity, and operational capacity to accurately deliver the assigned votes in a timely manner. We may engage more than one independent fiduciary, in part in order to mitigate potential or perceived conflicts of interest at an independent fiduciary. The Global Committee appoints and reviews the performance of the independent fiduciar(ies), generally on an annual basis. |
Contents | |
Introduction | A-16 |
Voting guidelines | A-16 |
Boards and directors | A-16 |
- Director elections | A-16 |
- Independence | A-16 |
- Oversight | A-17 |
- Responsiveness to shareholders | A-17 |
- Shareholder rights | A-17 |
- Board composition and effectiveness | A-18 |
- Board size | A-19 |
- CEO and management succession planning | A-19 |
- Classified board of directors / staggered terms | A-19 |
- Contested director elections | A-19 |
- Cumulative voting | A-19 |
- Director compensation and equity programs | A-19 |
- Majority vote requirements | A-19 |
- Risk oversight | A-20 |
- Separation of chairman and CEO | A-20 |
Auditors and audit-related issues | A-20 |
Capital structure proposals | A-21 |
- Equal voting rights | A-21 |
- Blank check preferred stock | A-21 |
- Increase in authorized common shares | A-21 |
- Increase or issuance of preferred stock | A-21 |
- Stock splits | A-22 |
Mergers, asset sales, and other special transactions | A-22 |
- Poison pill plans | A-22 |
- Reimbursement of expenses for successful shareholder campaigns | A-22 |
Executive Compensation | A-22 |
- Advisory resolutions on executive compensation (“Say on Pay”) | A-23 |
- Advisory votes on the frequency of Say on Pay resolutions | A-23 |
- Claw back proposals | A-23 |
- Employee stock purchase plans | A-23 |
- Equity compensation plans | A-23 |
- Golden parachutes | A-23 |
- Option exchanges | A-24 |
- Pay-for-Performance plans | A-24 |
- Supplemental executive retirement plans | A-24 |
Environmental and social issues | A-24 |
- Climate risk | A-25 |
- Corporate political activities | A-26 |
General corporate governance matters | A-26 |
- Adjourn meeting to solicit additional votes | A-26 |
- Bundled proposals | A-26 |
- Exclusive forum provisions | A-26 |
- Multi-jurisdictional companies | A-26 |
- Other business | A-27 |
- Reincorporation | A-27 |
- IPO governance | A-27 |
Contents | |
Shareholder Protections | A-27 |
- Amendment to charter / articles / bylaws | A-27 |
- Proxy access | A-28 |
- Right to act by written consent | A-28 |
- Right to call a special meeting | A-28 |
- Simple majority voting | A-28 |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure |
• | Mergers, asset sales, and other special transactions |
• | Executive compensation |
• | Environmental and social issues |
• | General corporate governance matters |
• | Shareholder protections |
• | Employment as a senior executive by the company or a subsidiary within the past five years |
• | An equity ownership in the company in excess of 20% |
• | Having any other interest, business, or relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
• | Where the board has failed to exercise oversight with regard to accounting practices or audit oversight, we will consider voting against the current audit committee, and any other members of the board who may be responsible. For example, this may apply to members of the audit committee during a period when the board failed to facilitate quality, independent auditing if substantial accounting irregularities suggest insufficient oversight by that committee |
• | Members of the compensation committee during a period in which executive compensation appears excessive relative to performance and peers, and where we believe the compensation committee has not already substantially addressed this issue |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where the board is not comprised of a majority of independent directors. However, this would not apply in the case of a controlled company |
• | Where it appears the director has acted (at the company or at other companies) in a manner that compromises his / her reliability to represent the best long-term economic interests of shareholders |
• | Where a director has a pattern of poor attendance at combined board and applicable key committee meetings. Excluding exigent circumstances, BlackRock generally considers attendance at less than 75% of the combined board and applicable key committee meetings by a board member to be poor attendance |
• | Where a director serves on an excess number of boards, which may limit his / her capacity to focus on each board’s requirements. The following illustrates the maximum number of boards on which a director may serve, before he / she is considered to be over-committed: |
Public
Company CEO |
# Outside
Public Boards* |
Total # of
Public Boards |
|||
Director A | x | 1 | 2 | ||
Director B | 3 | 4 |
* | In addition to the company under review |
• | The independent chair or lead independent director, members of the nominating / governance committee, and / or the longest tenured director(s), where we observe a lack of board responsiveness to shareholders, evidence of board entrenchment, and / or failure to promote adequate board succession planning |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where board member(s) at the most recent election of directors have received withhold votes from more than 30% of shares voted and the board has not taken appropriate action to respond to shareholder concerns. This may not apply in cases where BlackRock did not support the initial withhold vote |
• | The independent chair or lead independent director and / or members of the nominating / governance committee, where a board fails to implement shareholder proposals that receive a majority of votes cast at a prior shareholder meeting, and the proposals, in our view, have a direct and substantial impact on shareholders’ fundamental rights or long-term economic interests |
• | The independent chair or lead independent director and members of the governance committee, where a board implements or renews a poison pill without shareholder approval |
• | The independent chair or lead independent director and members of the governance committee, where a board amends the charter / articles / bylaws such that the effect may be to entrench directors or to significantly reduce shareholder rights |
• | Members of the compensation committee where the company has repriced options without shareholder approval |
• | If a board maintains a classified structure, it is possible that the director(s) with whom we have a particular concern may not be subject to election in the year that the concern arises. In such situations, if we have a concern regarding a committee or committee chair that is not up for re-election, we will generally register our concern by withholding votes from all available members of the relevant committee |
• | The mix of competencies, experience, and other qualities required to effectively oversee and guide management in light of the stated long-term strategy of the company |
• | The process by which candidates are identified and selected, including whether professional firms or other sources outside of incumbent directors’ networks have been engaged to identify and / or assess candidates |
• | The process by which boards evaluate themselves and any significant outcomes of the evaluation process, without divulging inappropriate and / or sensitive details |
• | The consideration given to board diversity, including, but not limited to, gender, ethnicity, race, age, experience, geographic location, skills, and perspective in the nomination process |
Combined
Chair / CEO Model |
Separate
Chair Model |
||||
Chair / CEO | Lead Director | Chair | |||
Board Meetings | Authority to call full meetings of the board of directors |
Attends full meetings of the board of directors
Authority to call meetings of independent directors Briefs CEO on issues arising from executive sessions |
Authority to call full meetings of the board of directors | ||
Agenda | Primary responsibility for shaping board agendas, consulting with the lead director | Collaborates with chair / CEO to set board agenda and board information | Primary responsibility for shaping board agendas, in conjunction with CEO | ||
Board Communications | Communicates with all directors on key issues and concerns outside of full board meetings | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning |
• | Appears to have a legitimate financing motive for requesting blank check authority |
• | Has committed publicly that blank check preferred shares will not be used for anti-takeover purposes |
• | Has a history of using blank check preferred stock for financings |
• | Has blank check preferred stock previously outstanding such that an increase would not necessarily provide further anti-takeover protection but may provide greater financing flexibility |
• | The degree to which the proposed transaction represents a premium to the company’s trading price. We consider the share price over multiple time periods prior to the date of the merger announcement. In most cases, business combinations should provide a premium. We may consider comparable transaction analyses provided by the parties’ financial advisors and our own valuation assessments. For companies facing insolvency or bankruptcy, a premium may not apply |
• | There should be clear strategic, operational, and / or financial rationale for the combination |
• | Unanimous board approval and arm’s-length negotiations are preferred. We will consider whether the transaction involves a dissenting board or does not appear to be the result of an arm’s-length bidding process. We may also consider whether executive and / or board members’ financial interests in a given transaction appear likely to affect their ability to place shareholders’ interests before their own |
• | We prefer transaction proposals that include the fairness opinion of a reputable financial advisor assessing the value of the transaction to shareholders in comparison to recent similar transactions |
• | Whether we believe that the triggering event is in the best interest of shareholders |
• | Whether management attempted to maximize shareholder value in the triggering event |
• | The percentage of total premium or transaction value that will be transferred to the management team, rather than shareholders, as a result of the golden parachute payment |
• | Whether excessively large excise tax gross-up payments are part of the pay-out |
• | Whether the pay package that serves as the basis for calculating the golden parachute payment was reasonable in light of performance and peers |
• | Whether the golden parachute payment will have the effect of rewarding a management team that has failed to effectively manage the company |
• | The company has experienced significant stock price decline as a result of macroeconomic trends, not individual company performance |
• | Directors and executive officers are excluded; the exchange is value neutral or value creative to shareholders; tax, accounting, and other technical considerations have been fully contemplated |
• | There is clear evidence that absent repricing, the company will suffer serious employee incentive or retention and recruiting problems |
• | Publish disclosures in line with industry specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
• | Disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | See our commentary on our approach to engagement on TCFD and SASB aligned reporting for greater detail of our expectations. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
1 Year BlackRock Short Duration... Chart |
1 Month BlackRock Short Duration... Chart |
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