iShares, the exchange-traded funds (ETFs) business of BlackRock, has expanded its suite of defined maturity corporate bond funds with the roll out of four new ‘iSharesBonds’ on the NYSE Arca.
The new ETFs offer investors access to a full universe of available US investment-grade credits with a defined maturity date, daily liquidity and price transparency.
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Defined maturity corporate bond ETFs can be utilised to target and manage interest-rate risk and each have an expense ratio of 0.10%.
The four iShares funds have gathered about US$200 million since they rolled out.
The four new ETFs track indexes that can hold debt issued by financial companies.
Investors can also use the products as building block for a customized laddered-bond portfolio to meet specific cash flow needs.
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By GlobalDataMatthew Tucker, head of iShares fixed income investment strategy, said: "iSharesBonds give investors an entirely new way to access the bond market, one that combines the benefits of both individual bonds and traditional ETFs."
