iShares BBB-B CLO Active ETF

C000255648 Fund Overview

iShares BBB-B CLO Active ETF is a US ETF managed by BlackRock ETF Trust II, categorised as Intermediate Securitized (MBS/ABS/CMBS) Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: BlackRock ETF Trust II
• Category: Intermediate Securitized (MBS/ABS/CMBS) Bond
• Assets under management: $84.14M
• 1-year return: 8.1%
• SEC CIK: 0001804196
• SEC series ID: S000089141
• Share class ID: C000255648

C000255648 Investment Objective and Strategy

iShares BBB-B CLO Active ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by BlackRock ETF Trust II.

Investment objective

The investment objective of iShares BBB-B CLO Active ETF (the Fund) is to provide capital preservation and current income by investing principally in a portfolio composed of collateralized loan obligations (CLOs) rated from BBB+ to B-.

Principal investment strategy

The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets, plus the amount of borrowings for investment purposes, in CLOs that are, at the time of purchase, rated from BBB+ to B- (or equivalent) by at least one of the major rating agencies or, if unrated, determined by the Fund management team to be of similar quality, and derivatives that provide investment exposure to such securities or to one or more market risk factors associated with such securities. The Funds 80% investment policy is non-fundamental and may be changed without shareholder approval upon 60 days prior written notice to shareholders. The Fund may invest in CLOs of any maturity. The Fund may purchase CLOs in both the primary market ( i.e ., directly from arranging banks) and in the secondary market.

The Fund will generally invest in CLOs that are U.S. dollar denominated but may invest up to 25% of its net assets in CLOs that are denominated in foreign currencies. A CLO is ordinarily issued by a trust or other special purpose entity (SPE) and is typically collateralized by a pool of loans, which may include, among others, domestic and non-U.S. senior secured loans, senior unsecured loans, covenant lite loans (which have few or no financial maintenance covenants) and subordinate corporate loans, including loans that may be rated below investment grade or equivalent unrated loans, and to a lesser extent, high yield bonds rated below investment grade (commonly called junk bonds), held by such issuer. The cash flows from the SPE are split into two or more portions, called tranches, varying in risk and yield.

The riskiest portion of a CLO is the equity tranche, which bears the first loss from defaults from the bonds or loans in the SPE and serves to protect the other, more senior tranches from default (though such protection is not complete). Since it is partially protected from defaults, a senior tranche of a CLO typically has higher ratings and lower yields than its underlying securities, and may be rated AAA. The CLO tranches rated from BBB+ to B- (or equivalent) in which the Fund will invest are subordinate to more senior tranches ( i.e ., the more senior tranches have payment priority over the tranches held by the Fund). The Fund may invest up to 10% of its net assets in CLOs with a rating above BBB+ at the time of purchase by the Fund, or if unrated, determined to be of comparable credit quality by the Fund management team, or in affiliated investment companies, including other exchange-traded funds, that provide exposure to CLOs rated above BBB+.

The Fund will not invest more than 10% of its net assets in any single CLO. The Fund may invest in floating- and fixed-rate CLOs, but will not invest more than 10% of its net assets in fixed-rate CLOs. The Fund may also buy when-issued securities and participate in delayed delivery transactions. The Fund may invest in cash or other short-term instruments, such as money market instruments or money market funds, while deploying new capital, for liquidity management purposes, managing redemptions, or for defensive purposes, including navigating unusual market conditions. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended (the Investment Company Act).

C000255648 Holdings

Top 10 holdings of iShares BBB-B CLO Active ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000255648 holdings

C000255648 Portfolio Allocation

Asset-class allocation of iShares BBB-B CLO Active ETF by percentage of net assets, from the latest SEC N-PORT filing.

C000255648 Performance

Total returns for C000255648 (as of 2026-10-01), from SEC filings.

C000255648 Risk Information

Risk metrics for C000255648, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 2.6%

C000255648 Costs and Fees

C000255648 costs about $45 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.45%
• Gross expense ratio: 0.45%
• Portfolio turnover: 30%
• Brokerage commissions: 0.16 bps of average net assets (SEC N-CEN)

C000255648 Cashflows

Over the 12 months to 2026-04, iShares BBB-B CLO Active ETF had net inflows of $14.91M, from monthly SEC N-PORT filings.

C000255648 Debt Constituents

No individual debt constituents are reported in iShares BBB-B CLO Active ETF's latest SEC N-PORT filing.

C000255648 Prospectus and SEC Filings

Official iShares BBB-B CLO Active ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2025-11-26
• Prospectus (485BPOS) — filed 2024-12-30
• 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 2025-10-14

Related Funds

Other Intermediate Securitized (MBS/ABS/CMBS) Bond funds tracked on ABC INVEST:

• JPMorgan Short Duration Bond Fund (HLLVX)
• Fpa New Income Fund (FPNIX)
• Victory Pioneer Multi-Asset Ultrashort Income Fund (MYFRX)
• DoubleLine Low Duration Bond Fund (DBLSX)
• Virtus Newfleet Multi-Sector Short Term Bond Fund (NARAX)

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.