2015 Prospectus | |
► | iShares iBonds Sep 2015 AMT-Free Muni Bond ETF* | IBMD | NYSE ARCA |
|
S-1 |
|
1 |
|
2 |
|
9 |
|
9 |
|
10 |
|
12 |
|
20 |
|
21 |
|
23 |
|
24 |
|
25 |
|
27 |
Ticker: IBMD | Stock Exchange: NYSE Arca |
Annual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investments) | ||||||||||
Management
Fees |
Distribution
and Service (12b-1) Fees |
Other
Expenses |
Total
Annual Fund Operating Expenses |
Fee Waiver1 | Total
Annual Fund Operating Expenses After Fee Waiver | |||||
0.30% | None | None | 0.30% | (0.12)% | 0.18% |
1 | BFA, the investment adviser to the Fund, has contractually agreed to waive a portion of its management fees in order to limit the Total Annual Fund Operating Expenses to 0.18% of average daily net assets through the termination date of the Fund, on or about September 1, 2015. The contractual waiver may be terminated prior to the Fund's termination only upon written agreement of the Trust and BFA. |
Maturity | ||
$1 |
1 | The Fund’s year-to-date return as of June 30, 2015 was -0.01%. |
One Year | Since
Fund Inception | ||
(Inception Date: 1/7/2010) | |||
Return Before Taxes | 0.18% | 2.09% | |
Return After Taxes on Distributions1 | 0.18% | 2.09% | |
Return After Taxes on Distributions and Sale of Fund Shares1 | 0.38% | 1.88% | |
S&P AMT-Free Municipal Series 2015 IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 0.42% | 2.41% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional Charge for Creations* |
Maximum
Additional Charge for Redemptions* | ||||
$2,633,500 | 50,000 | $100 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Year
ended Mar. 31, 2015 |
Year
ended Mar. 31, 2014 |
Year
ended Mar. 31, 2013 |
Year
ended Mar. 31, 2012 |
Year
ended Mar. 31, 2011 | |||||
Net asset value, beginning of year | $ 53.04 | $ 53.16 | $ 53.12 | $ 51.28 | $ 50.63 | ||||
Income
from investment operations: |
|||||||||
Net investment incomea | 0.35 | 0.39 | 0.59 | 0.78 | 0.89 | ||||
Net realized and unrealized gain (loss)b | (0.35) | (0.10) | 0.05 | 1.85 | 0.63 | ||||
Total from investment operations | 0.00 | 0.29 | 0.64 | 2.63 | 1.52 | ||||
Less distributions from: | |||||||||
Net investment income | (0.34) | (0.41) | (0.60) | (0.79) | (0.87) | ||||
Total distributions | (0.34) | (0.41) | (0.60) | (0.79) | (0.87) | ||||
Net asset value, end of year | $ 52.70 | $ 53.04 | $ 53.16 | $ 53.12 | $ 51.28 | ||||
Total return | 0.01% | 0.56% | 1.19% | 5.15% | 3.02% | ||||
Ratios/Supplemental data: | |||||||||
Net assets, end of year (000s) | $97,498 | $100,770 | $58,480 | $37,181 | $23,075 | ||||
Ratio of expenses to average net assets | 0.20% | 0.30% | 0.30% | 0.30% | 0.30% | ||||
Ratio of expenses to average net assets prior to waived fees | 0.30% | n/a | n/a | n/a | n/a | ||||
Ratio of net investment income to average net assets | 0.67% | 0.73% | 1.11% | 1.48% | 1.74% | ||||
Portfolio turnover ratec | 0% | 2% | 0% d | 0% d | 0% |
a | Based on average shares outstanding throughout each period. |
b | The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund's underlying securities. |
c | Portfolio turnover rates exclude portfolio securities received or delivered as a result of processing capital share transactions in Creation Units. |
d | Rounds to less than 1%. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Between 0.5% and -0.5% | 369 | 98.14% | ||
Less than -0.5% and Greater than -1.0% | 7 | 1.86 | ||
376 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
NAV | MARKET | INDEX | NAV | MARKET | INDEX | ||
1 Year | 0.01% | (0.37)% | 0.25% | 0.01% | (0.37)% | 0.25% | |
5 Years | 1.97% | 1.48% | 2.22% | 10.23% | 7.65% | 11.60% | |
Since Inception* | 1.98% | 1.91% | 2.30% | 10.82% | 10.42% | 12.65% |
* | Total returns for the period since inception are calculated from the inception date of the Fund (1/7/10). The first day of secondary market trading in shares of the Fund was 1/8/10. |
Call: | 1-800-iShares
or 1-800-474-2737 (toll free) Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | [email protected] |
Write: | c/o
BlackRock Investments, LLC 1 University Square Drive, Princeton, NJ 08540 |