iShares iBonds Dec 2025 Term Treasury ETF
IBTF
NASDAQ Global Market- -
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
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- DE United States of America
- IPO Date
- Feb 28, 2020
- CIK
- 0001100663
- Similar Companies
- Business
- iShares iBonds Dec 2025 Term Treasury ETF (IBTF) is an exchange-traded fund that seeks to track the investment results of the ICE 2025 Maturity US Treasury Index, composed of publicly issued U.S. Treasury securities maturing between January 1, 2025, and December 15, 2025. The fund primarily invests at least 80% of its assets in component securities of the underlying index or U.S. Treasury securities that BlackRock Fund Advisors believes will help track the index's performance; it may also hold short-term paper, cash, cash equivalents, and up to 10% in futures, options, and swaps. Launched on February 25, 2020, and domiciled in the United States, IBTF trades on the Nasdaq Stock Market LLC and is managed by BlackRock Fund Advisors, a subsidiary of BlackRock, Inc., headquartered in New York. The ETF provides exposure to a market value-weighted portfolio of U.S. Treasury notes and bonds with fixed coupon schedules denominated in U.S. dollars, excluding inflation-linked securities, Treasury bills, STRIPS, and securities held primarily by the Federal Reserve's Open Market Account; top holdings as of mid-2025 include BLK CSH FND TREASURY SL AGENCY (8.55%), various Treasury Notes with coupons ranging from 0.25% to 5% maturing in 2025 (collectively ~57%), and cash positions. It targets investors seeking income, stability, bond ladder building, and interest rate risk management through a defined-maturity structure that behaves like a bond portfolio while trading like a stock, with a low expense ratio of 0.07% and weighted average maturity of 0.27 years as of June 2025. The fund operates in the fixed-income segment, focusing on U.S. government securities for institutional and retail investors in the domestic market. In recent developments, BlackRock announced the planned liquidation and termination of IBTF, with the last trading day on December 15, 2025, followed by suspension of trading on December 16 and cash distributions to shareholders around December 18, 2025, as approved by the iShares Trust Board of Trustees on December 4, 2014. Portfolio management changes in August 2025 added Jonathan Graves and Marcus Tom as managers while removing Karen Uyehara, enhancing oversight as the fund nears maturity; no major funding rounds, acquisitions, or new product launches specific to IBTF were reported, though BlackRock expanded the broader iShares iBonds franchise in late 2024 with new ladder ETFs incorporating IBTF-like funds. As the fund approaches termination, its portfolio transitions toward cash and cash equivalents, with yields aligning to money market rates and portfolio turnover remaining low at 1% in the most recent fiscal year.