Highlights

  • CMBS seeks exposure to US investment-grade commercial mortgage-backed securities.
  • The fund reports NAV of USD 47.70 as of 2 November 2026.
  • CMBS lists an expense ratio of 0.25% and distributes monthly.

iShares CMBS ETF (NYSE Arca:CMBS) seeks to track US investment-grade commercial mortgage-backed securities. Its NAV stood at USD 47.70 as of 2 November 2026. Net Assets totalled USD 443,624,656 as of 2 November 2026.

Commercial Property Through Securitised Debt

CMBS tracks the Bloomberg U.S. CMBS (ERISA Only) Index. The benchmark consists of eligible securities representing interests in pools of commercial mortgages. Its eligibility rules include credit-quality and structural requirements. The strategy accesses commercial property through securitised Debt rather than through direct ownership of buildings or an Equity portfolio of property companies.

The fund uses representative sampling, selecting investments intended to resemble the benchmark’s overall characteristics. It may therefore hold a different collection of securities from the index while seeking a similar Investment profile.

Portfolio Composition and Exposure

CMBS reported 441 holdings as of 30 October 2026. Its allocation by Market Value included CMBS at 99.59% and Cash and/or Derivatives at 0.41% as of 30 October 2026.

The portfolio’s effective duration was 3.62 yrs as of 30 October 2026. Weighted average Maturity was 4.12 yrs as of 30 October 2026.

Duration measures sensitivity to Interest Rate changes. Maturity describes the timing of principal repayments, while cash-flow patterns and embedded Options can make the two measures differ. These characteristics describe the bond portfolio rather than a fixed outcome for shareholders.

The fact sheet dated 30 September 2026 recorded Credit allocations including AA Rated at 58.38% and AAA Rated at 38.27%. These classifications describe underlying securities at that date; ratings and portfolio credit quality can change.

Fees and Distribution Policy

The published expense ratio is 0.25%. Distributions are scheduled monthly.

The 30-day SEC Yield was 4.33% as of 30 October 2026. This standardised income measure reflects the fund’s recent income after expenses; it is separate from changes in the market value of its shares.

The prospectus notes that brokerage commissions and other intermediary charges may apply separately. Fund shares trade at market prices, which can differ from NAV, so the stated NAV does not establish the price of every exchange transaction.

Key Insights

Borrower defaults, changes in property cash flows, interest rates and the timing of mortgage repayments can affect the securities. The investment-grade requirement does not eliminate credit, Liquidity or prepayment risk.