iShares iBonds 2029 Term High Yield and Income ETF

iShares iBonds 2029 Term High Yield and Income ETF (IBHI) tracks the Bloomberg 2029 Term High Yield and Income Index. That index holds high-yield ("junk") and some BBB-rated corporate bonds that mature in 2029. Most bond funds run indefinitely, but this one has an end date: it plans to close around December 15, 2029, and pay out its remaining assets. Its trailing 12-month yield was 6.76% as of October 27, 2026. It pays monthly and charges 0.35% a year.

• Over the year to Oct 27, 2026, IBHI returned +2.8%, 3rd of 8 among similar funds.
• Its worst full calendar year was 2025 (+7.9%); its best was 2023 (+14.2%).
• The deepest fall in its price history was 13.6% (Mar 29, 2022 to Sep 30, 2022), recovered by Dec 1, 2023.

As of Jul 31, 2026, the fund held 374 securities; the ten largest made up 12.08% of assets, and 10% sat in cash and money-market holdings.

The bonds mature in 2.9 years on average (weighted by size), with an average coupon of 6.54%.

• Over the three months to Jul 31, 2026, investors added a net $71.1M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.52%, +0.10%, +0.06%.

IBHI tracks the Bloomberg 2029 Term High Yield and Income Index. The index holds U.S. dollar, taxable, fixed-rate corporate bonds scheduled to mature between January 1 and December 15, 2029. Most are high-yield, or "junk," bonds. These are rated below investment grade, which means a greater risk that the company misses a payment. Bloomberg uses the middle rating from Moody's, S&P and Fitch. Each bond needs at least $250 million outstanding. Bonds priced below $60 (bond prices are quoted per $100 of face value) are dropped. Bonds are weighted by market value, and any one issuer is typically capped at 3%. The index updates monthly until June 30, 2029. It held about 429 bonds as of October 31, 2025.

The fund changes as 2029 gets closer. In the final 1.5 years, BBB-rated bonds replace junk bonds that are repaid early or drop out of the index. BBB is the lowest tier of investment grade. In the last six months, the index holds repaid principal as cash instead of reinvesting it. As a result, the fund's yield may drift toward money market rates. The fund plans to close on or about December 15, 2029, and pay out its remaining assets. It does not promise any set amount back.

• IBHI charges 0.35% a year, versus an average of 0.5% for the similar funds below (3rd of 8, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $36 in the first year and $— over 10 years (assuming a 5% annual return).

The fund pays monthly income from higher-yielding corporate bonds and has a set end date, so it is built for income rather than long-term growth.

IBHI could add monthly income with a known end date. Its trailing 12-month yield was 6.76% as of October 27, 2026. Its 0.35% expense ratio is below the 0.50% average of similar funds. Because it holds junk bonds, its price can fall when the economy weakens and default risk rises. The fund launched in March 2022, so it has no record from the 2008 or 2020 crashes. It fell 13.6% from March 29 to September 30, 2022. It then took 14 months to recover, reaching its old high by December 1, 2023. That would have been a hard stretch for anyone selling shares to cover spending. Each full calendar year since has been positive, and 2025 was the weakest at 7.93%. Income may fade toward money market rates as the fund nears its 2029 close. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by bond funds with the closest average maturity and issuer mix (N-PORT).