Highlights

  • Exposure focus: Broad exposure to US dollar high Yield debt.
  • Official net Assets were USD 27,119,355,636 as at 4 November 2026.
  • The listed net annual expense ratio is 0.08%.
  • Its reference measure is ICE BofA US High Yield Constrained Index.

iShares Broad USD High Yield Corporate Bond ETF (CBOEBZX:USHY) follows a US dollar high-yield corporate bond benchmark. The portfolio focuses on borrowers below the investment-grade category, where repayment capacity and refinancing access Warrant particular attention. Its broad mandate spreads exposure among issuers, while the Credit cycle can still affect many of those issuers together.

Investment approach and market coverage

iShares Broad USD High Yield Corporate Bond ETF (CBOEBZX:USHY) uses an index-tracking mandate. The stated benchmark is ICE BofA US High Yield Constrained Index. The benchmark defines the eligible Investment universe, and its membership and weights shape the portfolio. An index objective does not mean the fund and benchmark will match exactly. Expenses, transactions, cash balances and implementation decisions can create differences. The scope of the mandate matters when comparing this exposure with an existing portfolio, because funds with similar names may cover different securities or market segments.

Holdings and underlying exposure

In the official holdings file dated 3 November 2026, selected leading individual bond positions were 1261229 Bc Ltd 144A maturing 15 April 2032 at 0.49%; Echostar Corp maturing 30 November 2029 at 0.39%; Meridian Arc Holdco Llc 144A maturing 30 April 2031 at 0.36%; Paramount Skydance Corp 144A maturing 15 October 2031 at 0.33%; Softbank Group Corp 144A maturing 1 April 2032 at 0.32%. These figures are security-level portfolio weights; separate securities from the same issuer may appear in other rows. Holdings and weights can change.

Aggregating the reported bond rows by the issuer file’s sector labels gives Corporates at approximately 99.21%, Government Related at approximately 0.26%, Other at approximately 0.00%. These are calculated sums of rounded security weights, rather than a separate issuer-published allocation table. Cash, Derivatives and other asset classes are excluded from these sector sums. The composition helps explain which economic exposures accompany the stated mandate.

Fees distributions and share pricing

iShares Broad USD High Yield Corporate Bond ETF (CBOEBZX:USHY) has a listed gross annual expense ratio of 0.08% and net annual expense ratio of 0.08%. At the net rate, USD 10,000 held at a constant value for a full year would imply approximately USD 8.00 in annual fund expenses. This is an illustrative fee calculation, excluding changes in value, brokerage costs and bid-ask spreads. Expenses are reflected within the product rather than quoted as a promised investment outcome.

The stated distribution frequency is monthly. The schedule describes how often distributions are expected, while payment amounts depend on income and other applicable fund circumstances. A distribution is distinct from Capital appreciation and does not establish a fixed future payment. Shareholders also need to consider their own tax treatment, including any treatment of distributions or gains on sale.

iShares reported net asset value of USD 35.67 per share as at 4 November 2026. NAV measures the underlying net asset value allocated to a share; it is not an exchange closing-price quotation. Shares trade on Cboe BZX, where the transaction price can differ from NAV and where the bid-ask spread adds to the cost of entering or exiting a position.

Repayment risk and the credit cycle

High-yield borrowers can be particularly vulnerable to weaker earnings, tighter lending conditions and difficulties refinancing debt. Defaults or restructurings may lead to losses, and stressed markets can make bonds harder to trade. Diversifying across issuers reduces dependence on one borrower but does not neutralize a broad credit downturn. An income-oriented corporate bond allocation can therefore experience material capital Volatility alongside its distributions.

Key Insights

iShares Broad USD High Yield Corporate Bond ETF (CBOEBZX:USHY) is defined by its benchmark and eligible investment universe. Its holdings explain the actual exposure, while the fee schedule and distribution arrangements explain important ownership mechanics. These features need to be considered together: broad coverage, a particular style or a specified Maturity band each changes the risks a Shareholder takes. The investment objective remains a target, and the value of the shares can decline.

Data checked on 5 November 2026. Each numerical observation uses the specific source date stated above.