iShares Interest Rate Hedged U.S. Aggregate Bond ETF
AGRH
New York Stock Exchange Arca- -
USD
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Capital Structure
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 50 Hudson Yards New York NY United States of America 10001
- IPO Date
- Jul 1, 2022
- Website
- ishares.com
- Similar Companies
- Business
- iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH) is an exchange-traded fund that seeks to track the BlackRock Interest Rate Hedged U.S. Aggregate Bond Index, which is designed to mitigate the interest rate risk of a portfolio composed of U.S. dollar-denominated, investment-grade bonds. The fund primarily holds shares of the iShares Core U.S. Aggregate Bond ETF (AGG), representing approximately 94.62% of its portfolio, alongside BlackRock Cash Funds Treasury SL Agency (2.11%), and interest rate swap positions such as SWP: OIS contracts maturing in 2042, 2047, and 2052 to hedge duration risk; its asset allocation includes 88.23% U.S. bonds, 5.89% non-U.S. bonds, 3.73% cash, and diversified exposure across government (44.02%), corporate (23.60%), and agency mortgage-backed securities (23.55%). Launched on June 22, 2022, and domiciled in the United States, AGRH is managed by BlackRock's iShares division, with portfolio managers James Mauro (since inception), Jonathan Graves (since August 1, 2025), and Marcus Tom (since August 1, 2025); the fund maintains a net expense ratio of 0.13% and total net assets of approximately $5.22 million as of late 2025. AGRH targets investors seeking broad U.S. investment-grade fixed income exposure with limited interest-rate sensitivity, serving institutional and retail clients focused on credit spreads and duration management within the ultrashort bond category. Geographically, the fund operates principally in U.S. markets, with holdings concentrated in USD-denominated securities and availability for sale in the United States. In recent developments, BlackRock, the parent entity of iShares, added Jonathan Graves and Marcus Tom as co-portfolio managers for AGRH effective August 1, 2025, enhancing the fund's management team alongside James Mauro. Concurrently, BlackRock reported record ETF inflows of $152 billion in the first half of 2025, driven by iShares products, and pursued strategic acquisitions including HPS Investment Partners in July 2025 to bolster private markets capabilities, alongside ongoing expansions in fixed income ETFs amid growing client demand. These changes underscore iShares' focus on innovation and scale in bond hedging strategies.