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.
4.2%
Current Yield
10.0 years
Macaulay Duration
4.3%
Yield to Maturity
A3
Median Quality
4.1%
ALTAR Score™
Fund Basics
Fund sponsor | BlackRock Fund Advisors |
Category | Corporate |
Asset class | Fixed Income |
Website | link... |
Inception date | Jul 22, 2002 |
Assets (mns) | $35,294 |
Expense ratio | 4 bp |
Constituent Breakdown
No. of constituents | 2,266 |
No. of distinct issuers | 493 |
Coverage | 97% |
Fixed/floating rate | 92% / 8% |
Investment grade | 97% |
Inflation protected | 0% |
Non-standard maturity (callable, etc.) | 73% |
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 % |
CVS HEALTH CORPORATION 5.05% 25-MAR-2048 | 0.2 % |
T-MOBILE USA, INC. 3.875% 15-APR-2030 | 0.2 % |
GOLDMAN SACHS GROUP, INC. 6.75% 01-OCT-2 | 0.2 % |
BOEING COMPANY 5.805% 01-MAY-2050 | 0.2 % |
AT&T INC. 3.5% 15-SEP-2053 | 0.2 % |
AT&T INC. 3.55% 15-SEP-2055 | 0.2 % |
ABBVIE INC. 3.2% 21-NOV-2029 | 0.2 % |
WARNERMEDIA HOLDINGS, INC. 5.141% 15-MAR | 0.2 % |
ABBVIE INC. 4.25% 21-NOV-2049 | 0.2 % |
Issuer Type Breakdown
Top Issuers
BANK OF AMERICA CORPORATION | 2.2 % |
JPMORGAN CHASE & CO. | 2.1 % |
WELLS FARGO & COMPANY | 2.1 % |
COMCAST CORPORATION | 2.1 % |
AT&T INC. | 1.8 % |
Historical Performance
Standardized Annual Returns (as of 05/31/2023)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
---|---|---|---|---|---|---|
3.4% | -2.5% | -6.9% | -3.9% | 1.7% | 2.3% | 4.4% |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.41 | 51% |
MSCI EAFE | 0.43 | 56% |
MSCI Emg Mkts | 0.42 | 53% |
Liquidity Measures
Avg. volume (000) | 21,017 |
Turnover | 0.0% |
Avg. Bid/Ask (% of price) | 0.01% |
ADV of underlying (mns) | $0 |
Technical Indicators
Recent close | $107.31 |
30d moving avg. | $107.98 |
Annualized volatility | 10.5% |
Relative strength (RSI) | 44 |
Short interest (ETF) | 13.9% |
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
10.0 yrs
Modified Duration
◁ INSENSITIVE
EXTREMELY SENSITIVE ▷
9.9%
ⓘ 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
4.1%
Cat. Avg
3.9%
Fund Category: Corporate
Adj. Yield to Maturity | -- bp |
Less: Annual "default factor" | -- bp |
Less: Expenses | 4 bp |
Equals: ALTAR Score™ | 4.1% |
ALTAR Score™ vs. Duration (Corporate Bond ETFs)
Market Activity
Latest price | |
Change | |
Volume | |
Bid/Ask Spread | |
Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
LQD | 4.0 | 0.9 | 4.9 |
Peer Avg. | 29.8 | 14.2 | 44.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .