Key Highlights

  • The fund holds about 2,810 bonds and cash instruments in an actively managed core-plus portfolio.
  • Mortgage-backed TBA positions and Treasury bonds are among the largest holdings.
  • Net asset value is $48.66, after a one-day gain of $0.03, or 0.05%.
  • The net expense ratio is 0.38%, and distributions are paid monthly.

Core-plus bond funds combine broad investment-grade exposure with a measured allocation to higher-yielding sectors, and the iShares Total Return Active ETF (NASDAQ:BRTR) follows that approach through active management. Figures in this article are current to November 9, 2026. The fund seeks to provide a diversified, actively managed bond portfolio that moves across sectors and maturities as conditions change. Shares trade on Nasdaq, and the fund has been listed since December 2023.

Fund Fact

Detail

Exchange and ticker

NASDAQ: BRTR

Fund inception

December 12, 2023

Net assets

$866.1 million

Net asset value

$48.66

Daily NAV change

+$0.03 (+0.05%)

Expense ratio (gross / net)

0.41% / 0.38%

30-day SEC yield

5.05%

Distribution frequency

Monthly

Number of holdings

2,810

Portfolio Structure and Duration

The portfolio combines Treasury bonds, agency mortgage-backed securities and cash. Uniform mortgage-backed securities 30-year TBA positions account for about 6.7% of market value, and several Treasury bonds appear among the leading holdings.

The effective duration of 5.93 years indicates a moderate sensitivity to Interest Rate changes, and the average Yield to Maturity of 6.06% reflects the current income environment for the bonds held. The weighted average maturity of 8.63 years shows the portfolio's intermediate-to-long profile.

Income and Distribution Pattern

Monthly distributions have been fairly steady, with recent payments around $0.19 per share. The 30-day SEC yield of 5.05% and the 12-month trailing yield of 4.63% describe the income the fund has produced, though yields change as holdings are adjusted.

Income from bond funds moves with interest rates and portfolio turnover. The fund's active management means its holdings can change more often than those of index-based bond funds.

Costs, Trading and Interest Rate Risk

The gross expense ratio is 0.41%, with a fee Waiver reducing the net figure to 0.38%. The 30-day median bid-ask spread of 0.02% indicates tight trading costs for a fixed income fund.

Fixed income risks include interest rate and Credit risk, and bond prices typically decline when rates rise. The fund's use of Derivatives adds counterparty risk, and active management does not guarantee that the fund will meet its objective.

Final Word

The iShares Total Return Active ETF offers a managed, multi-sector bond portfolio with monthly income and an intermediate duration profile. Its active structure, net expense ratio and sector flexibility define its character. Investors will weigh the fund's managed approach against their preferences for interest rate exposure and income.