iShares Interest Rate Hedged Corporate Bond ETF
LQDH
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- iShares Interest Rate Hedged Corporate Bond ETF (LQDH) seeks to track the investment results of an index designed to mitigate the interest rate risk of a portfolio composed of U.S. dollar-denominated, investment grade corporate bonds while providing exposure to the credit returns of those bonds. Launched on May 27, 2014, by BlackRock, Inc. under the iShares brand, the ETF primarily invests in the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD), representing approximately 95.93% of holdings, supplemented by interest rate swaps (such as CME and LCH OIS swaps maturing through 2054) and cash equivalents like BLK CSH FND TREASURY SL AGENCY to hedge duration risk. The fund maintains a net expense ratio of 0.24% after fee waivers, pays monthly distributions with a recent 12-month trailing yield of around 7.01%, and targets institutional and retail investors seeking stable income with reduced interest rate sensitivity in the fixed income segment. The ETF operates globally through U.S. exchanges like NYSE Arca, with primary exposure to USD-denominated investment grade corporate bonds issued by sectors across the U.S. economy; it does not pursue ESG or sustainable strategies. Headquartered in New York alongside its issuer BlackRock, LQDH features a low effective duration profile through its hedging overlays, distinguishing it from unhedged peers like LQD, and holds over 248 positions as of late 2025. In recent developments, increased hedge fund interest marked Q3 2025 activity, with 101 funds holding positions, reflecting 50% more increases than reductions and 36% more new investments than exits. BlackRock launched related buy-write strategy ETFs in February 2025, including the iShares Investment Grade Corporate Bond BuyWrite Strategy ETF (LQDW) on LQD, expanding hedged corporate bond offerings amid volatile yields. Additionally, select European trading lines of affiliated iShares USD Corporate Bond Interest Rate Hedged UCITS ETFs faced delisting notices effective October 28, 2025, though the core U.S. LQDH product remains active without reported reorganizations or strategic shifts.