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Name

As of 11/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

iShares Agency Bond ETF

AGZ | ETF

$108.51

$695 M

3.63%

$3.94

0.20%

Vitals

YTD Return

3.0%

1 yr return

5.5%

3 Yr Avg Return

-0.1%

5 Yr Avg Return

0.8%

Net Assets

$695 M

Holdings in Top 10

34.0%

52 WEEK LOW AND HIGH

$108.4
$106.42
$110.79

Expenses

OPERATING FEES

Expense Ratio 0.20%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 146.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

iShares Agency Bond ETF

AGZ | ETF

$108.51

$695 M

3.63%

$3.94

0.20%

AGZ - Profile

Distributions

  • YTD Total Return 3.0%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.73%
DIVIDENDS
  • Dividend Yield 3.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    iShares Agency Bond ETF
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Nov 05, 2008
  • Shares Outstanding
    5800000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Mauro

Fund Description

The Fund seeks to track the investment results of the Bloomberg U.S. Agency Bond Index (the “Underlying Index”), which measures the performance of the agency sector of the U.S. government bond market and is composed of investment-grade (as determined by Bloomberg Index Services Limited (the “Index Provider” or “Bloomberg”)) U.S. dollar-denominated publicly-issued government agency bonds or debentures. As of February 29, 2024, there were 393 issues in the Underlying Index. The Underlying Index includes callable and non-callable securities issued by U.S. government agencies, quasi-federal corporations (as described below), and corporate and non-U.S. debt guaranteed by the U.S. government. A minimum 50% ownership rule is used to classify issuers as government agencies. In addition, the securities in the Underlying Index must be fixed-rate and non-convertible and have $300 million or more of outstanding face value. The Underlying Index includes securities of the following categories:
• U.S. government guaranteed securities:corporate and non-U.S. issuances that carry direct guarantees from the U.S. government;
• U.S. government owned, not guaranteed, securities: issuances of quasi-federal corporations (i.e., entities that are partially or wholly-owned by the U.S. government); such issuances generally carry no explicit guarantee of repayment from the U.S. government; and
• U.S. government sponsored securities:issuances of U.S. government sponsored entities (including the Federal National Mortgage Association “Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”)), which are not 100% government owned, but carry out government policies and benefit from implied involvement of the U.S. government, such as by benefiting from certain government subsidies, credit provisions, or other government support; such issuances generally have no guarantees from the U.S. government.
The Underlying Index represents the agency portion of the Bloomberg U.S. Aggregate Index (whose eligible universe is defined by total market issuance) that meets the selection criteria mentioned above. The Underlying Index is market-value weighted, and the securities in the Underlying Index are updated on the last business day of each month.
As of February 29, 2024, approximately 73.04% of the total market value of the bonds represented in the Underlying Index was in the form of U.S. agency debentures issued by Fannie Mae, Freddie Mac and the Federal Home Loan Bank System.
BFA uses an indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “beat” the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued.
Indexing may eliminate the chance that the Fund will substantially outperform the Underlying Index but also may reduce some of the risks of active management, such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by aiming to keep portfolio turnover low in comparison to actively managed investment companies.
BFA uses a representative sampling indexing strategy to manage the Fund. “Representative sampling” is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable underlying index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market value and industry weightings), fundamental characteristics (such as return variability, duration (i.e., a security's price sensitivity to a change in interest rates), maturity or credit ratings and yield) and liquidity measures similar to those of an applicable underlying index. The Fund may or may not hold all of the securities in the Underlying Index.
The Fund will invest at least 80% of its assets in the component securities of the Underlying Index and to-be-announced (“TBA”) securities that have economic characteristics that are substantially identical to the economic characteristics of the component
securities of the Underlying Index, and the Fund will invest at least 90% of its assets in fixed income securities of the types included in the Underlying Index that BFA believes will help the Fund track the Underlying Index. The Fund will invest no more than 10% of its assets in futures, options and swaps contracts that BFA believes will help the Fund track the Underlying Index as well as in fixed income securities other than the types included in the Underlying Index, but which BFA believes will help the Fund track the Underlying Index. Cash and cash equivalent investments associated with a TBA position will be treated as part of that position for purposes of calculating the percentage of investments in the component securities of the Underlying Index. Cash and cash equivalent investments associated with a derivative position will be treated as part of that position for the purposes of calculating the percentage of investments included in the Underlying Index. The Fund seeks to track the investment results of the Underlying Index before fees and expenses of the Fund.
The Fund may lend securities representing up to one-third of the value of the Fund's total assets (including the value of any collateral received).
The Underlying Index is sponsored by Bloomberg, which is independent of the Fund and BFA. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index.
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AGZ - Performance

Return Ranking - Trailing

Period AGZ Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% 0.1% 6.8% 62.03%
1 Yr 5.5% 3.5% 8.7% 26.58%
3 Yr -0.1%* -2.1% 2.9% 74.36%
5 Yr 0.8%* -0.9% 2.0% 51.35%
10 Yr 1.6%* -0.2% 2.6% 3.08%

* Annualized

Return Ranking - Calendar

Period AGZ Return Category Return Low Category Return High Rank in Category (%)
2023 1.9% -1.6% 4.4% 12.66%
2022 -9.2% -10.4% -1.0% 78.21%
2021 -2.0% -6.4% -0.2% 43.59%
2020 3.4% -1.8% 4.9% 6.76%
2019 3.1% -1.4% 3.3% 2.78%

Total Return Ranking - Trailing

Period AGZ Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% 0.1% 6.8% 62.03%
1 Yr 5.5% 3.5% 8.7% 26.58%
3 Yr -0.1%* -2.1% 2.9% 74.36%
5 Yr 0.8%* -0.9% 2.0% 51.35%
10 Yr 1.6%* -0.2% 2.6% 3.08%

* Annualized

Total Return Ranking - Calendar

Period AGZ Return Category Return Low Category Return High Rank in Category (%)
2023 5.2% 2.4% 6.2% 10.13%
2022 -7.8% -9.3% 0.2% 88.46%
2021 -1.0% -3.1% 0.1% 43.59%
2020 5.8% 0.4% 6.0% 4.05%
2019 5.5% 1.1% 5.5% 1.39%

AGZ - Holdings

Concentration Analysis

AGZ Category Low Category High AGZ % Rank
Net Assets 695 M 11.1 M 24.8 B 24.05%
Number of Holdings 140 7 1024 54.43%
Net Assets in Top 10 239 M 1.76 M 6.85 B 35.44%
Weighting of Top 10 34.05% 15.6% 100.0% 68.35%

Top 10 Holdings

  1. Federal Home Loan Bank Bonds 5.42%
  2. Tennessee Valley Authority 5.06%
  3. U.S. Treasury Bills 4.08%
  4. Federal Home Loan Mortgage Corp. 3.59%
  5. BlackRock Cash Funds: Treasury, SL Agency Shares 3.01%
  6. Federal Home Loan Mortgage Corp. 2.97%
  7. Federal Home Loan Bank Bonds 2.70%
  8. Federal National Mortgage Association 2.55%
  9. Federal National Mortgage Association 2.39%
  10. Federal National Mortgage Association 2.28%

Asset Allocation

Weighting Return Low Return High AGZ % Rank
Bonds 		90.86% 70.16% 127.20% 82.28%
Cash 		11.31% 0.00% 23.11% 6.33%
Stocks 		0.00% 0.00% 1.65% 60.76%
Preferred Stocks 		0.00% 0.00% 0.00% 56.96%
Other 		0.00% -25.01% 30.75% 62.03%
Convertible Bonds 		0.00% 0.00% 0.00% 56.41%

Bond Sector Breakdown

Weighting Return Low Return High AGZ % Rank
Government 		97.18% 0.00% 99.96% 19.23%
Cash & Equivalents 		11.31% 0.00% 23.11% 6.33%
Corporate 		2.79% 0.00% 34.19% 11.54%
Derivative 		0.00% -0.95% 11.49% 49.37%
Securitized 		0.00% 0.00% 100.00% 91.03%
Municipal 		0.00% 0.00% 6.22% 64.10%

Bond Geographic Breakdown

Weighting Return Low Return High AGZ % Rank
US 		90.86% 70.16% 127.20% 82.28%
Non US 		0.00% 0.00% 0.00% 56.96%

AGZ - Expenses

Operational Fees

AGZ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.20% 0.03% 2.91% 82.28%
Management Fee 0.20% 0.03% 0.80% 23.08%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.10% 0.45% N/A

Sales Fees

AGZ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 4.75% N/A
Deferred Load N/A 0.50% 1.00% N/A

Trading Fees

AGZ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 0.25% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

AGZ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 146.00% 0.00% 466.00% 50.82%

AGZ - Distributions

Dividend Yield Analysis

AGZ Category Low Category High AGZ % Rank
Dividend Yield 3.63% 0.00% 5.67% 55.70%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

AGZ Category Low Category High AGZ % Rank
Net Income Ratio 0.73% -0.78% 3.29% 25.00%

Capital Gain Distribution Analysis

AGZ Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

AGZ - Fund Manager Analysis

Managers

James Mauro

Start Date

Tenure

Tenure Rank

Jul 01, 2011

10.92

10.9%

Head of San Francisco Fixed Income Core PM at BlackRock, Inc. since 2020; Managing Director of BlackRock, Inc. since 2015; Director of BlackRock, Inc. from 2010 to 2014; Vice President of State Street Global Advisors from 2001 to 2010. James Mauro has been employed by BlackRock Fund Advisors and BlackRock Institutional Trust Company, N.A. (“BTC”) as a portfolio manager since 2011. Prior to joining BTC, Mr. Mauro was a Vice President at State Street Global Advisors. His primary responsibilities include management of all government, inflation linked and derivative strategies. Other responsibilities include hedging and managing risk across all asset classes through futures and option overlays. James joined State Street Corporation in 1993. Previously, he worked as a portfolio manager on the passive team where he co-managed several Bond Index portfolios.

Karen Uyehara

Start Date

Tenure

Tenure Rank

Jun 29, 2021

0.92

0.9%

Ms. Uyehara is a Director of BlackRock, which she joined in 2010. Ms. Uyehara is a portfolio manager and member of BlackRock’s Model-Based Fixed Income Portfolio Management Group. Prior to joining BlackRock, Ms. Uyehara was a portfolio manager at Western Asset Management Company from2002 to 2010.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.49 32.44 10.48 7.33

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