iShares iBonds 2023 Term High Yield and Income ETF
IBHC
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- United States of America
- IPO Date
- May 9, 2019
- CIK
- 0001100663
- Similar Companies
- Business
- iShares iBonds 2023 Term High Yield and Income ETF (IBHC) is an exchange-traded fund that seeks to track the investment results of an index composed of U.S. dollar-denominated, high yield and other income generating corporate bonds maturing in 2023. The fund invests at least 80% of its assets in the component instruments of the underlying index and at least 90% in fixed income instruments, including high yield corporate bonds rated below investment grade and BBB-rated securities; it provides monthly income distributions through coupon payments from its holdings, which transition to short-term instruments and cash as bonds mature. Sponsored by BlackRock's iShares under iShares Trust, a series trust organized in 1996 with administrative operations in Wilmington, Delaware, and principal executive offices at 400 Howard Street, San Francisco, California, the ETF targets income-seeking investors such as individuals, financial advisors, and institutions focused on defined-maturity strategies in the high yield fixed income segment. The ETF's core offerings emphasize targeted exposure to USD-denominated high yield corporate bonds with 2023 maturities, emphasizing income generation from below-investment-grade debt; it features a management fee of 0.35%, low beta of approximately 0.23, and an annual dividend yield around 4.46% prior to maturity phase. Holdings were diversified across issuers in sectors like telecommunications (e.g., DISH DBS Corp), healthcare (e.g., Bausch Health), energy (e.g., Calpine), and media, though transitioning predominantly to cash (over 99%) as the target maturity approached. Operations are U.S.-centric, listed on Cboe BZX exchange, with shares outstanding around 6,900,000 and assets under management of approximately $163 million before final distributions. As a term ETF designed to mature like an individual bond, IBHC underwent its planned operational wind-down in late 2023, ceasing primary bond investments and distributing proceeds to shareholders following the maturity of its underlying portfolio; this structural termination represents the fund's major lifecycle event, with no new shares issued post-maturity window and transition to cash equivalents for final liquidation. No recent partnerships, acquisitions, funding rounds, or product launches apply to IBHC itself, as its predefined term concluded per design, though the broader iShares iBonds high yield series saw expansions such as new UCITS ETF launches in Europe for maturities through 2034 in September 2025. The ETF no longer trades actively, with shareholders receiving final NAV-based proceeds around its 2023 target date, aligning with BlackRock's strategy for target-maturity bond ETFs.