iShares iBonds 2033 Term High Yield and Income ETF

iShares iBonds 2033 Term High Yield and Income ETF is a fixed income exchange-traded fund that seeks to track the Bloomberg 2033 Term High Yield and Income Index. This index comprises U.S. dollar-denominated high yield corporate bonds and income securities maturing in or around 2033. The fund provides targeted exposure to the high yield bond market segment, characterized by issuers across various sectors such as media, aerospace, telecommunications, and consumer services, including top holdings like TransDigm Inc., Nexstar Media Inc., and CCO Holdings LLC. Key portfolio features include a weighted average maturity of approximately 6 years, effective duration of 4.49 years, weighted average coupon of 6.73%, and an option adjusted spread of about 220 basis points, reflecting its sensitivity to interest rate changes and credit risk profile. With a management fee of 0.35%, the ETF offers monthly distributions and a defined term structure, aiming to deliver income from high yield investments until its target maturity in 2033. Launched in 2026, it serves investors seeking yield enhancement in a laddered bond strategy within the broader fixed income market.