iShares iBonds Oct 2033 Term TIPS ETF (IBIJ) is an exchange-traded fund that seeks to track the investment results of the ICE 2033 Maturity US Inflation-Linked Treasury Index, composed of U.S. Treasury Inflation-Protected Securities (TIPS) maturing between January and October 2033. The ETF provides targeted exposure to inflation-protected fixed income securities issued by the United States Treasury, including holdings such as United States Treasury Notes with coupons of 1.125% and 1.375%; it operates with a net expense ratio of 0.10% and distributes income monthly. Launched on September 19, 2023, and listed on NYSE Arca the following day, IBIJ is issued by BlackRock iShares and managed by a team including James Mauro since inception, with Jonathan Graves and Marcus Tom added as co-managers effective August 1, 2025.
The fund serves investors seeking defined-maturity bond strategies to manage inflation risk and interest rate sensitivity in a target maturity category, primarily institutional and retail fixed income allocators in the United States; its portfolio characteristics emphasize high credit quality with moderate interest-rate sensitivity and 100% allocation to U.S. Treasury issuers.
As part of BlackRock's expansion of the iShares iBonds ETF franchise announced in September 2023, IBIJ launched alongside a suite of nine complementary TIPS defined-maturity ETFs covering maturities from 2024 to 2032, marking the industry's first such offering to enhance bond laddering tools amid higher-for-longer interest rates and persistent inflation concerns. In 2025, the fund experienced a managerial update with the addition of co-portfolio managers Jonathan Graves and Marcus Tom effective August 1, reflecting ongoing oversight refinements by BlackRock Fund Advisors. IBIJ maintains operations domiciled in the United States with total net assets of approximately $27 million as of late 2025, positioning it for termination in October 2033 consistent with its target maturity design.