iShares Floating Rate Bond ETF
FLOT
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- iShares Floating Rate Bond ETF (FLOT) is an exchange-traded fund managed by BlackRock that seeks to track the investment results of an index composed of U.S. dollar-denominated, investment-grade floating rate bonds with remaining maturities between one month and five years. The ETF primarily invests in a diversified portfolio of floating rate notes issued by supranational entities such as the International Bank for Reconstruction and Development, Inter-American Development Bank, European Bank for Reconstruction and Development, and Asian Development Bank; corporate issuers including Royal Bank of Canada, JPMorgan Chase & Co., Australia and New Zealand Banking Group Ltd., Kommunalbanken AS, International Finance Corp., and American Honda Finance Corporation; and other investment-grade obligors across financial and non-financial sectors. It offers investors exposure to short-duration, floating-rate debt instruments that adjust coupons periodically to mitigate interest rate risk, with a low expense ratio of 0.15%, approximately 427 holdings, and net assets exceeding $8.9 billion. Launched on June 14, 2011, and listed on the NYSE Arca, FLOT operates within the fixed income segment targeting institutional and retail investors seeking liquidity and yield in rising or volatile rate environments. The fund focuses on U.S. dollar-denominated securities with effective durations near zero and yields to maturity reflecting current short-term rates, serving markets across the United States through its primary exchange. Operated by BlackRock, headquartered in New York City, the ETF has seen no major structural changes, acquisitions, partnerships, or product launches in the last 1-2 years, maintaining its core strategy amid stable portfolio management; recent activity centers on institutional ownership adjustments, such as position trims by firms including Bank of Montreal Can and Allworth Financial LP, alongside ongoing monthly distributions around $0.208 per share.