LQD
iShares iBoxx $ Investment Grade Corporate Bond ETF
iShares iBoxx $ Investment Grade Corporate Bond ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to track the investment results of an index composed of U.S. dollar-denominated, investment-grade corporate bonds.
Corporate
FIXED INCOME
Passive
MANAGEMENT STYLE
29.9 B
ASSETS UNDER MGMT
14 bp
EXPENSES
Fund Basics
| Fund sponsor | BlackRock Fund Advisors |
| Category | Corporate |
| Asset class | Fixed Income |
| Website | link... |
| Inception date | Jul 22, 2002 |
| Assets (mns) | $29,895 |
| Expense ratio | 14 bp |
Constituent Breakdown
| No. of constituents | 2,650 |
| No. of distinct issuers | 534 |
| Coverage | 98% |
| Fixed/floating rate | 84% / 16% |
| Investment grade | 98% |
| Inflation protected | 0% |
| Non-standard maturity (callable, etc.) | 84% |
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Monthly |
| Taxation | 1099 |
| Bond selection | |
| Weighting | Market Cap |
| Smart-beta | No |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ANHEUSER-BUSCH COS. LLC 4.9% 01-FEB-2046 | 0.3 % |
| PFIZER INVESTMENT ENTERPRISES PTE. LTD. | 0.2 % |
| CVS HEALTH CORPORATION 5.05% 25-MAR-2048 | 0.2 % |
| GOLDMAN SACHS GROUP, INC. 6.75% 01-OCT-2 | 0.2 % |
| T-MOBILE USA, INC. 3.875% 15-APR-2030 | 0.2 % |
| WARNERMEDIA HOLDINGS, INC. 5.141% 15-MAR | 0.2 % |
| BOEING COMPANY 5.805% 01-MAY-2050 | 0.2 % |
| DEUTSCHE TELEKOM INTERNATIONAL FINANCE B | 0.2 % |
| AT&T INC. 3.55% 15-SEP-2055 | 0.2 % |
| ANHEUSER-BUSCH COS. LLC 4.7% 01-FEB-2036 | 0.2 % |
Issuer Type Breakdown
Top Issuers
| BANK OF AMERICA CORPORATION | 2.6 % |
| JPMORGAN CHASE & CO. | 2.4 % |
| MORGAN STANLEY | 2.1 % |
| CITIGROUP INC. | 1.8 % |
| WELLS FARGO & COMPANY | 1.7 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 3.6% | 8.7% | 6.0% | -2.1% | 0.5% | 2.6% | 4.6% | Volatility | 6.9% | 7.7% | 9.1% | 9.9% | 11.1% | 8.6% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.54 | 62% |
| MSCI EAFE | 0.58 | 71% |
| MSCI Emg Mkts | 0.53 | 59% |
Liquidity Measures
| Avg. volume (000) | 24,518 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.01% |
| ADV of underlying (mns) | $0 |
Technical Indicators
| Recent close | $109.95 |
| 30d moving avg. | $111.11 |
| Annualized volatility | 12.0% |
| Relative strength (RSI) | 42 |
| Short interest (ETF) | 23.1% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Credit Quality
Duration
Macaulay Duration
Modified Duration
SHORT
MED.
LONG TERM
8.9 yrs
Modified Duration
◁ INSENSITIVE
EXTREMELY SENSITIVE ▷
8.7%
ⓘ Our analysis shows this fund is likely to be moderately sensitive to changes in interest rates
Interest Rate Sensitivity Analysis
| Change in YTM |
New YTM |
Est. Price Change |
New Price |
|---|---|---|---|
| +300 bp | --% | --% | $-- |
| +200 bp | --% | --% | $-- |
| +150 bp | --% | --% | $-- |
| +100 bp | --% | --% | $-- |
| +75 bp | --% | --% | $-- |
| +50 bp | --% | --% | $-- |
| +25 bp | --% | --% | $-- |
| 0 bp | --% | --% | $-- |
| -25 bp | --% | --% | $-- |
| -50 bp | --% | --% | $-- |
| -75 bp | --% | --% | $-- |
| -100 bp | --% | --% | $-- |
| -150 bp | --% | --% | $-- |
| -200 bp | --% | --% | $-- |
| - 300bp | --% | --% | $-- |
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Yields
Disposition of YTM
Distribution Yield (Trailing 12 Months)
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ETF Research Center Fund Rating
The ALTAR Score™ is our measure of an ETF's overall investment merit. For fixed income funds, the Score is an estimate of risk-adjusted yield to maturity (calculation shown below). In effecient markets, the plot of ALTAR Scores™ vs. Duration should resemble the familiar yield curve. Funds that sit above the curve may offer better risk-adjusted returns than those that sit below the curve.
ALTAR Score™
LQD
4.8%
Cat. Avg
3.9%
Fund Category: Corporate
| Adj. Yield to Maturity | -- bp |
| Less: Annual "default factor" | -- bp |
| Less: Expenses | 14 bp |
| Equals: ALTAR Score™ | 4.8% |
ALTAR Score™ vs. Duration (Corporate Bond ETFs)
Expense Analysis
| Peer Group | Passive Corporate Fixed Income ETFs |
| # of ETFs | 24 |
| Avg. Expense Ratio | 18.1 bp |
| Std. Deviation | 16.9 bp |
| LQD (14 bp) Percentile rank | 41 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| LQD | 14.0 | 1.0 | 15 |
| Peer Avg. | 29.7 | 15.9 | 45.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .