Key stats
About iShares iBonds 2024 Term High Yield and Income ETF
Expense ratio
0.35%
Home page
Inception date
May 7, 2019
ISIN
US46435U1842
IBHD offers exposure primarily to high yield, USD-denominated corporate bonds and comes with 2 distinctions: bullet maturity and an allowance for BBB-rated bonds. Part of a suite of similar funds, IBHD behaves more like a bond than a typical bond fund. The fund provides bullet maturity, in this case December 2024, instead of perpetual exposure to a maturity range. As the fund matures, its maturity, duration and YTM will decrease. In December 2024, IBHD will unwind and distribute all fund assets as cash to investors. This structure permits IBHD to be used as a building block for a bond ladder. The fund can hold BBB-rated bonds too, subject to certain triggers and constraints. Thus the fund can avoid selling a bond if its rating improves just beyond junk status. High yield and BBB-rated bonds are sourced from Bloomberg U.S. High Yield and Bloomberg U.S. Corporate indexes, respectively.
Classification
What's in the fund
Exposure type
Corporate
Bonds, Cash & Other100.00%
Corporate90.27%
Cash9.73%