iShares iBonds 2028 Term High Yield and Income ETF
IBHH
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- iShares iBonds 2028 Term High Yield and Income ETF (IBHH) is an exchange-traded fund that seeks to track the investment results of the Bloomberg 2028 Term High Yield and Income Index, composed of U.S. dollar-denominated, high yield corporate bonds and other income-generating securities maturing between January 1, 2028, and December 15, 2028. The fund provides targeted exposure to a diversified portfolio of approximately 290-300 holdings, including prominent issuers such as DISH DBS Corp., Bausch Health Companies Inc., Calpine Corp., CCO Holdings LLC, Tenet Healthcare Corp., Nissan Motor Acceptance Company LLC, and Venture Global LNG Inc.; it features a monthly distribution frequency, an expense ratio of 0.35%, a 30-day SEC yield around 5.78%, effective duration of 1.53 years, and weighted average maturity of 2.03 years as of recent data. Launched on March 8, 2022, and managed by BlackRock under the iShares brand with portfolio managers including James Mauro, Jonathan Graves, and Marcus Tom, IBHH trades on the Cboe BZX exchange with net assets of approximately $322 million. IBHH operates within the fixed income segment, specifically targeting high yield (below investment grade) and BBB-rated corporate bonds in the U.S. market; its target investors include income-oriented institutions, financial advisors, and retail portfolios seeking defined-term duration risk with yields above traditional investment-grade alternatives. Geographically, the fund focuses exclusively on U.S. dollar-denominated securities issued by domestic and international corporations accessible via U.S. markets. In line with the iBonds ETF series design, IBHH will undergo a planned termination process leading up to its 2028 maturity window, transitioning its portfolio to cash and short-term instruments in the final months to facilitate final distributions and liquidation, similar to recent terminations of peer funds like the iShares iBonds 2025 Term High Yield and Income ETF (IBHE) on December 15, 2025. BlackRock, the fund's sponsor and investment manager headquartered in New York, completed its acquisition of HPS Investment Partners in June 2025, enhancing its private credit capabilities alongside its $3 trillion public fixed income platform, which supports iShares fixed income ETFs including IBHH through integrated public-private solutions. The fund maintains stable management and no reported product launches, name changes, or reorganizations specific to IBHH in 2024-2025, with ongoing monthly distributions such as $0.1343 per share declared in May 2025.