Highlights

  • IBTI follows a defined index Investment mandate.
  • The fund reported 48 holdings on 4 November 2026.
  • Net Assets were approximately USD 2.27 billion on 5 November 2026.
  • The expense ratio is 0.07%, with monthly distributions listed.

iShares iBonds Dec 2028 Term Treasury ETF (NASDAQ:IBTI) seeks to track the ICE 2028 Maturity US Treasury Index. IBTI closed at USD 21.97 on 4 November 2026. Net assets were approximately USD 2.27 billion on 5 November 2026. The fund’s investment universe and the weight of its individual positions define the exposure available through its shares.

Investment mandate and underlying exposure

The fund targets U.S. Treasury bonds maturing in 2028. Its calendar-year mandate narrows the investment universe to a defined maturity segment. A portfolio of Treasury issues offers different security terms within the same issuer exposure rather than Diversification across corporate borrowers.

The disclosed leading securities mature in January, February, May and August 2028. Their weights spread exposure across issues within the target year. Coupon rates and exact maturity dates differ between individual bonds, so the fund’s maturity-year label does not mean every security has identical cash flows.

Holdings weights and portfolio structure

As of 4 November 2026, The Treasury issue maturing on Jan 31, 2028 represented 3.77%; The Treasury issue maturing on Feb 29, 2028 represented 2.62%; The Treasury issue maturing on May 15, 2028 represented 2.49%; The Treasury issue maturing on Aug 15, 2028 represented 2.48%; The Treasury issue maturing on Nov 15, 2028 represented 2.44%; The Treasury issue maturing on Aug 31, 2028 represented 2.42%.

The portfolio reported an effective duration of 1.57 yrs as of 4 November 2026. Duration measures sensitivity to Interest Rate changes; it is different from the date on which an individual bond matures. Holdings are individual securities or other portfolio positions. Several securities can relate to the same issuer, so the reported holdings count should not be read as an equivalent number of independent borrowers.

Fund costs distributions and risks

The listed expense ratio is 0.07%, and distributions are scheduled monthly. Fund distributions can vary with portfolio income and other relevant cash flows. The expense ratio describes a fund-level cost; trading shares can also involve Transaction Costs and a difference between the prices available to buyers and sellers.

Changes in interest rates affect Treasury market values before maturity. The handling of maturing assets and reinvestment of proceeds also influences the portfolio as the target year approaches. The target-year structure does not fix the ETF’s Market Price or guarantee a particular final payment to its holders.

Key Insights

IBTI provides a defined exposure through its benchmark mandate. The disclosed leading securities mature in January, February, May and August 2028. Their weights spread exposure across issues within the target year. The 48 reported holdings, their individual weights and the 0.07% expense ratio are relevant to interpreting the portfolio. The mandate and underlying instruments determine which economic risks remain shared across otherwise separate positions.