What is the IBHC ETF ?
The IBHC ETF, a part of the iShares iBonds fixed maturity series sponsored by BlackRock, seeks to track the investment results of the Bloomberg 2023 Term High Yield and Income Index. The ETF invests primarily in U.S. dollar-denominated, taxable, fixed-rate, high-yield, and BBB-rated corporate bonds scheduled to mature between January 1, 2023, and December 15, 2023. The underlying index includes bonds from various industries, such as consumer cyclicals and financials, with a minimum outstanding face value of $250 million. Non-U.S. corporate issuers are also part of the index, mainly from developed countries.