iShares iBonds Sep 2020 Term Muni Bond ETF
IBMI
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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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
- Aug 12, 2014
- CIK
- 0001100663
- Similar Companies
- Business
- iShares iBonds Sep 2020 Term Muni Bond ETF (IBMI) seeks to track the investment results of the S&P AMT-Free Municipal Series 2020 Index, composed of investment-grade U.S. municipal bonds maturing in or before September 2020 that are exempt from federal alternative minimum tax. The fund invests at least 90% of its assets in the underlying index securities, which include municipal bonds issued by states, municipalities, and other public entities across the United States, providing targeted exposure to short-term, tax-exempt fixed income; it distributes monthly income and terminates upon maturity of its holdings, transitioning to cash equivalents in the final period before delisting and liquidating to shareholders at net asset value. Sponsored by BlackRock, Inc. and launched in 2015 as part of the iShares iBonds series of target-maturity ETFs, IBMI operates within the municipal bond segment, targeting income-focused investors such as individuals and institutions seeking tax-advantaged returns with defined duration risk. In a major operational change, the ETF ceased operations and went out of business as of September 1, 2020, following the maturity of its underlying bonds, with final net asset value calculated around $25.46 per share and proceeds distributed to remaining shareholders shortly thereafter. This liquidation aligned with the predefined maturity strategy of iBonds ETFs, where the portfolio's bonds matured through the target period, leading to delisting from NYSE Arca and full redemption without further trading or reinvestment. No recent partnerships, acquisitions, funding rounds, or new product launches apply post-closure, as the fund concluded its lifecycle per design, consistent with prior iBonds series terminations.