IBCEiShares iBonds Mar 2023 Term Corporate ex-Financials ETF
IBCE Fund Description
IBCE tracks an index of investment grade USD-denominated bonds excluding those issued by financial firms. The target maturity fund will terminate in 2023 by design.
IBCE Factset Analytics Insight
IBCE is part of iShares’ Target Maturity Bond suite. As such, the fund behaves more like a bond than a typical bond fund. The fund targets a specific duration, in this case March 2023 and a target credit rating of A/A2. The fund achieves this by creating and combining two credit quality subsets: Aaa to A3 rated bonds and Baa1 to Baa3 rated bonds from Bloomberg Barclays U.S. Corporate Index (Parent Index). The bonds are market-cap weighted within each subset, with a 3% issuer cap. As the fund approaches its stated maturity, duration and YTM will continue to decline. On its target maturity date, IBCE will unwind and return all capital to investors. The fund takes on an additional wrinkle — it excludes debts issued by financial firms. This is a big departure from the broad investment grade Corporate bond market and an interesting choice for those who want to avoid the financial sector.
IBCE MSCI ESG Analytics Insight
iShares iBonds Mar 2023 Term Corporate ex-Financials ETF has an MSCI ESG Fund Rating of A based on a score of 6.28 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. iShares iBonds Mar 2023 Term Corporate ex-Financials ETF ranks in the 55th percentile within its peer group and in the 48th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
IBCE Summary Data
IBCE Portfolio Data
IBCE Index Data
IBCE Portfolio Management
IBCE Tax Exposures
IBCE Fund Structure
IBCE Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of IBCE. IBCE is rated a N/A out of 5.
IBCE Sector/Industry Breakdown
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