iShares Adds Target Maturity ETF

World’s largest ETF issuer rolls out iBonds corporate bond fund for 2028.
Reviewed by: Staff
Edited by: Staff

Today BlackRock’s iShares unit launched another member of its iBonds target-maturity fixed-income lineup. The iShares iBonds Dec 2028 Term Corporate ETF (IBDT) is expected to mature (and cease to trade) on or about Dec. 15, 2028, according to its prospectus.

The fund comes with an expense ratio of 0.10%, like all the other corporate iBonds ETFs, and lists on the NYSE Arca.

IBDT tracks a Bloomberg index that covers investment-grade corporate bonds denominated in U.S. dollars. The issues are all set to mature in 2028, but before Dec. 16. They must have at least $300 million in outstanding face value to be included in the index. The index’s components are weighted by market value but subject to a 3% cap on individual issuers, the prospectus says.

There were already 20 ETFs in the iBonds family, including six that cover municipal bonds and 14 that cover corporate debt. The entire family has nearly $6 billion in assets under management.

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