At a glance
IBTK charges 0.07% a year, below the 0.1% average of the 7 funds most like it (the 4th cheapest of 8). It has $975.4M in assets, the 8th largest of that group; it paid 3.76% of its price in distributions over the past 12 months, monthly. Over the past year it returned −0.6% with distributions reinvested, the weakest of those 8 funds; over three years it returned +4.6% a year. At its worst it fell 15.6% in the 2022 bear market (S&P 500: 24.5%), and is still below its earlier high. Its ten largest positions make up 52.4% of the fund, out of 26 in all.
The short version
iShares iBonds Dec 2030 Term Treasury ETF (IBTK) holds U.S. Treasury notes and bonds that mature during 2030 and tracks the ICE 2030 Maturity US Treasury Index. Most bond funds run indefinitely, but this one has an end date: it plans to close on or about December 15, 2030, and pay its remaining assets to shareholders. Its annual expense ratio of 0.07% is below the 0.10% average of similar funds, though Vanguard's VGIT and VGSH charge 0.03%.
Price history
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IBTK -0.6% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| IBTK official prospectus, to Dec 31, 2025 | — | +7.47% | — | -1.46% | — | -1.69% |
| ICE BofA US Broad Market Index index, same period | — | +7.15% | — | -0.42% | — | -0.27% |
| IBTK price data to Oct 27, 2026 | -0.9% | -0.6% | +4.6% | -0.6% | — | -0.8% |
- Over the year to Oct 27, 2026, IBTK returned -0.6%, 8th of 8 among similar funds.
- Its 5-year annualized return was -0.6%.
- Its worst full calendar year was 2022 (-14.6%); its best was 2025 (+7.3%).
- The deepest fall in its price history was 19.4% (Aug 3, 2021 to Oct 20, 2022), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -0.9% | — |
| 2025 | +7.3% | +7.47% |
| 2024 | +1.1% | +1.20% |
| 2023 | +4.1% | +4.01% |
| 2022 | -14.6% | -14.72% |
| 2021 | — | -3.69% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 14.8% over that stretch · deepest drop along the way 15.6%, not recovered by the end of the data |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.5400 | |
| 2025 | $0.7400 | +1.4% |
| 2024 | $0.7300 | +19.7% |
| 2023 | $0.6100 | +35.6% |
| 2022 | $0.4500 |
What's inside
As of Jul 31, 2026, the fund held 26 securities; the ten largest made up 52.43% of assets.
| Holding | Weight | |
|---|---|---|
| United States of America Bonds and notes | 7.01% | |
| United States of America Bonds and notes | 6.40% | |
| United States of America Bonds and notes | 6.08% | |
| United States of America Bonds and notes | 4.73% | |
| United States of America Bonds and notes | 4.72% | |
| United States of America Bonds and notes | 4.72% | |
| United States of America Bonds and notes | 4.70% | |
| United States of America Bonds and notes | 4.70% | |
| United States of America Bonds and notes | 4.69% | |
| United States of America Bonds and notes | 4.68% | |
| United States of America Bonds and notes | 4.64% | |
| United States of America Bonds and notes | 4.63% | |
| United States of America Bonds and notes | 4.61% | |
| United States of America Bonds and notes | 4.60% | |
| United States of America Bonds and notes | 3.54% |
By country
United States 98.81%By issuer
US Treasury 98.81%The bonds mature in 3.9 years on average (weighted by size), with an average coupon of 3.28%.
Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $132.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.15%, +0.06%, -0.37%.
How it works
The fund tracks the ICE 2030 Maturity US Treasury Index. The index holds fixed-rate U.S. Treasury notes and bonds that mature between January 1 and December 15, 2030. Each issue needs at least $1 billion outstanding, not counting the Federal Reserve's holdings. The index leaves out inflation-protected Treasuries (TIPS), Treasury bills and STRIPS. Larger issues get bigger weights. As of July 31, 2026, the fund held 26 issues. The largest, a Treasury note (CUSIP 91282CGQ8), made up 7.0% of assets, and the top 10 came to 52%.
BlackRock uses representative sampling. This means the fund may not own every bond in the index. Instead it holds a mix that matches the index's yield, maturity and duration (how much prices react to interest-rate changes). At least 90% of assets must be in Treasuries. Up to 10% can go into futures, options or swaps, but the fund held none on July 31, 2026. The index rebalances monthly, and interest received during the month is held as cash until month-end.
The end date is the key mechanic. As the 2030 bonds mature, the money goes into the remaining index bonds or into cash, so the fund's yield may drift toward money market rates. By December 15, 2030, the fund should be almost all cash. It will then liquidate and pay out. It does not promise a set amount at maturity, and its board can extend the date.
What it really costs
- IBTK charges 0.07% a year, versus an average of 0.1% for the similar funds below (4th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $7 in the first year and $— over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IBTK | $7 | $23 | $— | $— |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
It holds only U.S. Treasuries and has moved little with stocks, but rising interest rates can still push its price down.
IBTK may add stability and a fixed end date to the bond side of a portfolio, for example for money set aside for spending around 2030. Its one-year beta was 0.06, which means it has moved little with stocks. Rising rates hurt it, though. It lost 14.72% in 2022, its worst calendar year. From August 3, 2021 to October 20, 2022 it fell 19.4%, and it had not fully recovered that drop as of October 27, 2026. Selling in a year like that would lock in losses. Price swings should narrow as its bonds near maturity, but the fund promises no set payout. It launched in July 2020, so it has no record from the 2008 crisis or the 2020 crash. It yielded 3.76% over the 12 months to October 27, 2026, paid monthly, and costs 0.07% a year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Savers who want Treasury money available around December 2030, for a planned expense, without buying and managing individual bonds.
- Investors who want only U.S. government credit risk; 98.8% of assets were in Treasury notes as of July 31, 2026.
- Income seekers who like monthly payouts; its trailing 12-month yield was 3.76% as of October 27, 2026.
Look elsewhere if
- Long-term holders who want a permanent bond position; IBTK closes around December 15, 2030, and the proceeds would need reinvesting.
- Cost-focused investors: Vanguard's VGIT and VGSH charge 0.03% a year, compared with IBTK's 0.07%.
- Anyone who needs inflation protection or steady prices: the fund excludes TIPS and fell 19.4% from August 2021 to October 2022.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
| Fund | Avg. maturity | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IBTK this fund | 3.9 yrs | 0.07% | $975.4M | -0.6% | +4.6% |
| IEI iShares 3-7 Year Treasury Bond ETF | 4.7 yrs | 0.15% | $17.68B | -0.4% | +4.0% |
| VGIT Vanguard Intermediate-Term Treasury ETF | 5.5 yrs | 0.03% | $48.41B | -0.2% | +4.5% |
| VGSH Vanguard Short-Term Treasury ETF | 1.9 yrs | 0.03% | $39.20B | +2.2% | +4.2% |
| SHY iShares 1-3 Year Treasury Bond ETF | 1.9 yrs | 0.15% | $25.91B | +1.7% | +3.9% |
| USFR WisdomTree Floating Rate Treasury Fund | 1.5 yrs | 0.15% | $18.76B | +4.1% | +4.6% |
| GOVT iShares U.S. Treasury Bond ETF | 7.4 yrs | 0.05% | $43.55B | -0.5% | +3.8% |
| SHV iShares Short Treasury Bond ETF | 0.3 yrs | 0.15% | $20.97B | +3.3% | +4.3% |
Questions investors ask
When does IBTK mature?
IBTK plans to close on or about December 15, 2030. All its bonds mature during 2030. As they do, the money goes into the remaining index bonds or into cash. By the termination date the fund should be almost entirely cash, which it will pay out to shareholders under a plan of liquidation. It does not promise any set amount back, and its board can extend the date if a majority decides that is in the fund's best interest.
Does IBTK pay monthly dividends?
Yes. IBTK pays income every month. Over the 12 months to October 27, 2026, it paid about $0.72 per share, a trailing yield of 3.76%. The income comes from interest on its Treasury notes, which had an average coupon of 3.28% as of July 31, 2026. The prospectus warns that as 2030 approaches and bonds mature, the yield may drift toward money market rates, which can be lower than earlier yields.
IBTK vs IEI: what's the difference?
The biggest difference is the end date. IBTK holds Treasuries maturing in 2030 and plans to close around December 15, 2030. iShares 3-7 Year Treasury Bond ETF (IEI) targets a 3-to-7-year maturity range and has no set end date. IBTK charges 0.07% a year and IEI charges 0.15%. Three-year annualized returns were similar: 4.6% for IBTK as of October 27, 2026, and 4.3% for IEI as of October 30, 2026. IEI is much larger, with about $17.7 billion in net assets compared with IBTK's $975 million.
Can IBTK lose money?
Yes. It holds only U.S. Treasuries, but its price falls when interest rates rise. It lost 14.72% in 2022. It also dropped 19.4% from its August 3, 2021 peak to October 20, 2022, and it had not fully recovered that loss as of October 27, 2026. Its five-year average annual return was -1.46% through December 31, 2025. Price swings should shrink as its bonds near maturity, but the fund does not guarantee any amount at termination.
How much does IBTK cost per year?
IBTK's expense ratio is 0.07% a year, with no fee waiver, according to its February 2026 prospectus. In the SEC's standard example, a $10,000 investment earning 5% a year would pay about $7 in costs after one year and $23 after three years. That is below the 0.10% average for similar Treasury funds and less than half the 0.15% that IEI and SHY charge. It is still above the 0.03% charged by Vanguard's VGIT and VGSH.