iShares U.S. Long Credit Bond Index Fund
U.S. bond index fund · tracks Bloomberg U.S. Long Credit Index
As of its 2026 Q2 report, iShares U.S. Long Credit Bond Index Fund held 3,301 positions with $2.34B in net assets. Its ten largest holdings made up 12.2% of the fund. The fund costs 0.12% a year. Over the 12 months to May 2026, it returned 8.0%, with dividends reinvested. In 2026 Q3 it added 69 new positions and exited 56.
The investment objective of iShares U.S. Long 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. Long Credit Index (or the Underlying Index).
The fund tracks the Bloomberg U.S. Long Credit Index, a capitalization-weighted index of investment-grade corporate and government bonds with maturities of ten years or longer, using sampling techniques to approximate the index's total return rather than holding all constituents. Because the fund samples the index rather than replicating it completely, its returns may diverge from the index due to differences in portfolio composition. The fund may use derivatives and securities lending to manage liquidity.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
BlackRock Funds III | 10.03% | $234.69M | — |
ANHEUSER-BUSCH CO/INBEV 4.90% · due 2046-02-01 | 0.30% | $7.03M | — |
BLACKROCK CASH FUNDS | 0.28% | $6.46M | — |
CVS HEALTH CORP 5.05% · due 2048-03-25 | 0.27% | $6.38M | — |
META PLATFORMS INC 5.50% · due 2045-11-15 | 0.23% | $5.48M | — |
BOEING CO 5.80% · due 2050-05-01 | 0.23% | $5.37M | — |
GOLDMAN SACHS GROUP INC 6.75% · due 2037-10-01 | 0.22% | $5.18M | — |
PFIZER INVESTMENT ENTER 5.30% · due 2053-05-19 | 0.22% | $5.10M | — |
AT&T INC 3.50% · due 2053-09-15 | 0.21% | $4.96M | — |
AT&T INC 3.55% · due 2055-09-15 | 0.20% | $4.72M | — |
The 200 largest of 3,301 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 98.78% |
| Cash & short-term | 10.31% |
These positions come to 109.09% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
By sector
- Other
- 13.4%
- Utilities
- 11.7%
- Cash
- 10.8%
- Health Care
- 9.7%
- 11 other sectors
- 54.4%
- Other
- 13.4%
- Utilities
- 11.7%
- Cash
- 10.8%
- Health Care
- 9.7%
- Government
- 8.3%
- Financials
- 8.3%
- Communication Services
- 7.6%
- Information Technology
- 6.4%
- Industrials
- 5.9%
- International
- 5.9%
- Consumer Staples
- 3.6%
- Energy
- 3.3%
- Consumer Discretionary
- 3.0%
- Materials
- 1.4%
- Real Estate
- 0.8%
How it has done
C000234047 share class · total returns with dividends reinvested
Volatility over the last 12 months: 6.08%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
iShares U.S. Long Credit Bond Index Fund is a U.S. bond index fund that tracks the Bloomberg U.S. Long Credit Index.
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Long duration
- Expense ratio, by class
- 0.12%
- Portfolio turnover
- 27.00% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
69 new· the largest 6
56 exited· the largest 6
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 99.9% |
| Floating rate | 0.1% |
Share of the fund's debt value in each maturity band, shortest first.
| 10y+ | 100.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 51% |
| Interest rates | 49% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +12.51 yr |
| High yield | +0.00 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.15 yr | 1% |
| 5 yr | 1.32 yr | 11% |
| 10 yr | 4.47 yr | 37% |
| 30 yr | 6.27 yr | 51% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.00 yr | 0% |
| 5 yr | 0.01 yr | 0% |
| 10 yr | 2.84 yr | 23% |
| 30 yr | 9.66 yr | 77% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.00 | +0.00 | $2 | $140 |
| 1 yr | +0.15 | +0.00 | +0.00 | $38 | $0 |
| 5 yr | +1.32 | +0.01 | +0.00 | $2.9k | $0 |
| 10 yr | +4.47 | +2.84 | +0.00 | $665.1k | $0 |
| 30 yr | +6.27 | +9.66 | +0.00 | $2.26m | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
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