Fund Evaluator:
iShares US Securitized Bond Index (BISBX)
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Best Performing in Securitized Bond - Diversified Over the Last Year
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Fund Details
iShares US Securitized Bond Index Overview
iShares US Securitized Bond Index (BISBX) is a passively managed Taxable Bond Securitized Bond - Diversified fund. BlackRock launched the fund in 2022.
The investment seeks to provide investment results that correspond to the total return performance of fixed-income securities, in aggregate, as represented by the Bloomberg U.S. Securitized: MBS, ABS, and CMBS Index. At least 90% of the value of the fund’s assets, plus the amount of any borrowings for investment purposes, is invested in securities comprising the index, which, for the fund, are considered bonds. The index is a capitalization weighted index that measures the performance of residential mortgage backed securities issued by Government Sponsored Enterprises, asset backed securities and commercial mortgage backed securities.
About iShares US Securitized Bond Index (BISBX)
There are 3 members of the management team with an average tenure of 2.15 years: James Mauro (2022), Jonathan Graves (2025), Marcus Tom (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Scrtzd MBS ABS CMBS TR USD index with a weighting of 100%. iShares US Securitized Bond Index has 1997 securities in its portfolio. The top 10 holdings constitute 13.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
iShares US Securitized Bond Index is part of the Fixed Income global asset class and is within the Taxable Bond fund group. iShares US Securitized Bond Index has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.9% (99.9% domestic bond, 0.0% foreign bond and 0.0% convertible bond). iShares US Securitized Bond Index has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $5 billion in total assets, which is above the $538 million average for the Securitized Bond - Diversified category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BISBX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The iShares US Securitized Bond Index expense ratio is low compared to funds in the Securitized Bond - Diversified category. iShares US Securitized Bond Index has an expense ratio of 0.01%, which is 99% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. iShares US Securitized Bond Index has a portfolio turnover rate of 252%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 359% for the Securitized Bond - Diversified category.
Recently, in the month of August 2026, iShares US Securitized Bond Index returned 0.4%, which earned it a grade of A, as the Securitized Bond - Diversified category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
iShares US Securitized Bond Index has a trailing yield of 3.93%, which is below the 5.13% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
iShares US Securitized Bond Index Grades
Year to date, the fund has returned 0.1%, 1.3 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.8% over the past year (grade of D) and 4.7% over the past three years (grade of F).
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BISBX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BISBX Return (NAV) | 0.4% | -0.7% | 2.8% | 4.7% | na | na |
| BISBX Grade | A | F | D | F | na | na |
| +/- Category | 0.1% | -0.7% | -0.6% | -1.7% | na | na |
| Securitized Bond - Diversified Avg | 0.3% | -0.0% | 3.4% | 6.3% | 2.2% | 2.6% |
| BISBX Tax Cost Ratio | na | na | 1.6% | 1.6% | na | na |
BISBX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BISBX Return (NAV) | 0.1% | 8.5% | 1.5% | 5.1% | na | na | na | na | na | na | na |
| BISBX Grade | F | C | F | D | na | na | na | na | na | na | na |
| +/- Category | -1.3% | 0.4% | -4.2% | -1.5% | na | na | na | na | na | na | na |
| Securitized Bond - Diversified Avg | 1.4% | 8.1% | 5.7% | 6.6% | -9.3% | 1.8% | 1.3% | 7.2% | 1.9% | 4.2% | 3.1% |
| Risk Measures | |
| Standard Deviation: | 6.2% |
| Total Risk Index: | 0.51 - Below Average |
| Category Risk Index: | 1.38 - Above Average |
| Category Risk Grade: | D (63% Rank) |
| Beta: | 1.10 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 3.9% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $5198 Mil |
| Fund Total Assets: | $5,199 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 252% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 4.3 years | |||
| Average Tenure: 2.1 years | |||
| Managers (Year): Mauro James (2022), Graves Jonathan (2025), Tom Marcus (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 1997 |
| % in Top 10 Holdings: | 13.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 99.9% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.1% |
Purchase Information
| Fund Family: | BlackRock |
| Phone Number: | 800-441-7762 |
| Website: | www.blackrock.com |
| Status: | Open |
| Inception Date: | May 20, 2022 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.01% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 1.02% |
| Share Class: | iShares US Securitized Bond Index |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
