iShares U.S. Intermediate Credit Bond Index Fund

C000234048 Fund Overview

iShares U.S. Intermediate Credit Bond Index Fund is a US mutual fund managed by Blackrock Funds, categorised as Intermediate Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Blackrock Funds
• Category: Intermediate Corporate Bond
• Assets under management: $3.17B
• 1-year return: 5.2%
• SEC CIK: 0000844779
• SEC series ID: S000075204
• Share class ID: C000234048

C000234048 Investment Objective and Strategy

iShares U.S. Intermediate Credit Bond Index Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Blackrock Funds.

Investment objective

The investment objective of iShares U.S. Intermediate Credit Bond Index Fund (the Fund), a series of BlackRock Funds SM (the Trust), is to seek to provide investment results that correspond to the total return performance of fixed-income securities, in aggregate, as represented by the Bloomberg U.S. Intermediate Credit Index (or the Underlying Index).

Principal investment strategy

Under normal circumstances, at least 90% of the value of the Funds assets, plus the amount of any borrowings for investment purposes, is invested in securities comprising the Bloomberg U.S. Intermediate Credit Index, which, for the Fund, are considered bonds. The Fund attempts to achieve, in both rising and falling markets, a correlation of at least 95% between the total return of its net assets before fees and expenses and the total return of the Funds benchmark index, the Bloomberg U.S. Intermediate Credit Index. Notwithstanding the factors described below, perfect (100%) correlation would be achieved if the total return of the Funds net assets, before fees and expenses, increased or decreased exactly as the total return of the Funds benchmark index increased or decreased. The Funds ability to match its investment performance to the investment performance of its benchmark index may be affected by, among other things, the Funds expenses, the amount of cash and cash equivalents held by the Fund, the manner in which the total return of the Funds benchmark index is calculated, the size of the Funds investment portfolio, and the timing, frequency and size of shareholder purchases and redemptions.

The Bloomberg U.S. Intermediate Credit Index is a capitalization weighted index that measures the investment grade, U.S. dollar-denominated, fixed-rate, taxable corporate and government-related bond markets with a maturity greater than one year and less than ten years. It is composed of the Bloomberg U.S. Corporate Index and a non-corporate component that includes non-U.S. agencies, sovereigns, supranationals and local authorities constrained by maturity. The index is rebalanced monthly. There were approximately 6,011 fixed-income securities included in the Bloomberg U.S. Intermediate Credit Index as of December 31, 2025. All securities in the Bloomberg U.S. Intermediate Credit Index are rated investment-grade. The Fund will be invested and reinvested primarily in U.S. debt securities with maturities greater than one year but less than ten years, with the objective of approximating as closely as practicable the total rate of return of the Bloomberg U.S.

Intermediate Credit Index. Under normal circumstances, the Fund expects to have a dollar-weighted average maturity of three to ten years, although the Funds dollar-weighted average maturity may go below three years to the extent it does so for the benchmark index. The Fund utilizes sampling techniques that are designed to allow the Fund to duplicate substantially the investment performance of the Bloomberg U.S. Intermediate Credit Index. However, the Fund is not expected to track the Bloomberg U.S. Intermediate Credit Index with the same degree of accuracy that complete replication of the Bloomberg U.S. Intermediate Credit Index would provide. No attempt is made to manage the Fund using economic, financial or market analysis. In addition, at times, the portfolio composition of the Fund may be altered (or rebalanced) to reflect changes in the characteristics of the index that the Fund tracks.

The Fund also may engage in futures, forwards and options transactions and other derivative securities transactions and lend its portfolio securities, each of which involves risk. The Fund may use futures contracts, forwards, options and other derivative transactions to manage its short-term liquidity and/or as substitutes for comparable market positions in the securities in its benchmark index. The Fund may also invest in high-quality money market instruments, including shares of money market funds advised by BFA or its affiliates.

C000234048 Holdings

Top 10 holdings of iShares U.S. Intermediate Credit Bond Index Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000234048 holdings

C000234048 Portfolio Allocation

Asset-class allocation of iShares U.S. Intermediate Credit Bond Index Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000234048 Performance

Total returns for C000234048 (as of 2026-10-01), from SEC filings.

C000234048 Risk Information

Risk metrics for C000234048, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 2.4%

C000234048 Costs and Fees

C000234048 costs about $0 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.00%
• Gross expense ratio: 0.12%
• Portfolio turnover: 30%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000234048 Cashflows

Over the 12 months to 2026-04, iShares U.S. Intermediate Credit Bond Index Fund had net outflows of $162.46M, from monthly SEC N-PORT filings.

C000234048 Debt Constituents

Largest debt holdings of iShares U.S. Intermediate Credit Bond Index Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000234048 Prospectus and SEC Filings

Official iShares U.S. Intermediate Credit Bond Index Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2026-02-23
• Prospectus (485BPOS) — filed 2025-02-26
• Prospectus (485BPOS) — filed 2024-02-22
• Portfolio holdings (N-PORT) — filed 2026-09-25
• Portfolio holdings (N-PORT) — filed 2026-06-25
• Portfolio holdings (N-PORT) — filed 2026-03-26
• Annual census (N-CEN) — filed 2026-01-14
• Annual census (N-CEN) — filed 2025-01-13

Related Funds

Other Intermediate Corporate Bond funds tracked on ABC INVEST:

• Vanguard Intermediate-Term Corporate Bond Index Fund (VICSX)
• Lord Abbett Short Duration Income Fund (LLDYX)
• Vanguard Intermediate-Term Investment-Grade Fund (VFICX)
• iShares Broad USD High Yield Corporate Bond ETF (USHY)
• Lord Abbett Bond Debenture Fund INC (LBNDX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.