Highlights

  • Exposure focus: Treasury exposure across the Maturity spectrum.
  • Official net Assets were USD 43,062,775,499 as at 3 November 2026.
  • The listed net annual expense ratio is 0.05%.
  • Its reference measure is ICE US Treasury Core Bond Index.

iShares U.S. Treasury Bond ETF (CBOEBZX:GOVT) follows a broad Treasury benchmark spanning the maturity spectrum. This blends securities with different sensitivity to interest-rate changes. Its aggregate exposure therefore depends on the maturity weights in the benchmark, rather than being anchored to one short or long maturity segment.

Investment approach and market coverage

iShares U.S. Treasury Bond ETF (CBOEBZX:GOVT) uses an index-tracking mandate. The stated benchmark is ICE US Treasury Core Bond 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 Treasury Note maturing 15 November 2031 at 5.02%; Treasury Note maturing 15 February 2029 at 2.99%; Treasury Note maturing 15 November 2028 at 2.13%; Treasury Note maturing 15 February 2028 at 1.96%; Treasury Note maturing 15 May 2028 at 1.65%. 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 Treasuries at approximately 99.94%. 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 U.S. Treasury Bond ETF (CBOEBZX:GOVT) has a listed gross annual expense ratio of 0.05% and net annual expense ratio of 0.05%. At the net rate, USD 10,000 held at a constant value for a full year would imply approximately USD 5.00 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 22.19 per share as at 3 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.

Interest rates and a rolling Treasury portfolio

Treasury prices can fall when market yields rise. The scale of that sensitivity depends on duration and the maturity mix, rather than on the government issuer alone. An ongoing Treasury fund replaces securities as its benchmark changes, so its shareholders do not receive a predetermined Redemption amount on one final maturity date. Income distributions and the Market Value of the shares can therefore change independently.

Key Insights

iShares U.S. Treasury Bond ETF (CBOEBZX:GOVT) 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.