At a glance
ILTB charges 0.06% a year, the same as the average of the 7 funds most like it (the 6th cheapest of 8). It has $594.1M in assets, the 8th largest of that group; it paid 5.23% of its price in distributions over the past 12 months, monthly. Over the past year it returned −5.4% with distributions reinvested, the weakest of those 8 funds; over three years it returned +5.9% a year. At its worst it fell 19.6% in the 2020 crash (S&P 500: 33.7%) and 28.8% in the 2022 bear market (S&P 500: 24.5%). Its ten largest positions make up 10.2% of the fund, out of 3,861 in all.
The short version
The iShares Core 10+ Year USD Bond ETF (ILTB) is a BlackRock index fund that holds long-term US dollar bonds. Most of them are US Treasury bonds and corporate bonds with more than 10 years left until they mature. Its 0.06% expense ratio matches the average of similar funds, and its trailing yield was 5.23% as of October 27, 2026. The trade-off is strong sensitivity to interest rates: it lost 26.7% in 2022.
Price history
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ILTB -5.4% 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 | |
|---|---|---|---|---|---|---|
| ILTB official prospectus, to Dec 31, 2025 | — | +7.16% | — | -4.27% | +2.40% | — |
| Bloomberg US Universal Index index, same period | — | +7.58% | — | +0.06% | +2.44% | — |
| ILTB price data to Oct 27, 2026 | -2.9% | -5.4% | +5.9% | -4.4% | +0.8% | +3.6% |
- Over the year to Oct 27, 2026, ILTB returned -5.4%, 8th of 8 among similar funds.
- Its 5-year annualized return was -4.4% and its 10-year +0.8%.
- In the 2020 COVID crash it fell 19.6% and regained its old high 3.6 months after the low.
- Its worst full calendar year was 2022 (-26.7%); its best was 2011 (+21.5%).
- The deepest fall in its price history was 36.8% (Aug 4, 2020 to Oct 19, 2023), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -2.9% | — |
| 2025 | +7.2% | +7.16% |
| 2024 | -3.0% | -2.78% |
| 2023 | +8.0% | +7.93% |
| 2022 | -26.7% | -26.71% |
| 2021 | -2.7% | -2.45% |
| 2020 | +16.1% | +15.95% |
| 2019 | +19.6% | +19.91% |
| 2018 | -5.1% | -5.00% |
| 2017 | +11.2% | +10.97% |
| 2016 | +7.8% | +7.64% |
| 2015 | -4.3% | — |
| 2014 | +20.3% | — |
| 2013 | -9.9% | — |
| 2012 | +8.8% | — |
| 2011 | +21.5% | — |
| 2010 | +9.1% | — |
| 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 | Lost 5.2% over that stretch · deepest drop along the way 19.6%, back to its old high 3.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 28.6% over that stretch · deepest drop along the way 28.8%, not recovered by the end of the data |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.8300 | |
| 2025 | $2.3900 | +0.4% |
| 2024 | $2.3800 | +3.5% |
| 2023 | $2.3000 | +5.5% |
| 2022 | $2.1800 | -0.5% |
| 2021 | $2.1900 | -13.8% |
| 2020 | $2.5400 | +7.6% |
| 2019 | $2.3600 | -3.3% |
| 2018 | $2.4400 | -5.1% |
| 2017 | $2.5700 | +6.2% |
| 2016 | $2.4200 | -0.8% |
| 2015 | $2.4400 | +6.1% |
| 2014 | $2.3000 | -15.4% |
| 2013 | $2.7200 | +23.6% |
| 2012 | $2.2000 | -11.3% |
| 2011 | $2.4800 | +3.3% |
| 2010 | $2.4000 |
What's inside
As of Aug 31, 2026, the fund held 3,861 securities; the ten largest made up 10.24% of assets, and 2.03% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| United States Treasury Bonds and notes | 1.13% | |
| United States Treasury Bonds and notes | 1.09% | |
| United States Treasury Bonds and notes | 1.07% | |
| United States Treasury Bonds and notes | 1.07% | |
| United States Treasury Bonds and notes | 1.06% | |
| United States Treasury Bonds and notes | 1.00% | |
| United States Treasury Bonds and notes | 0.96% | |
| United States Treasury Bonds and notes | 0.96% | |
| United States Treasury Bonds and notes | 0.96% | |
| United States Treasury Bonds and notes | 0.94% | |
| United States Treasury Bonds and notes | 0.93% | |
| United States Treasury Bonds and notes | 0.92% | |
| United States Treasury Bonds and notes | 0.87% | |
| United States Treasury Bonds and notes | 0.84% | |
| United States Treasury Bonds and notes | 0.84% |
By country
United States 83.5%Mexico 1.5%United Kingdom 0.88%Canada 0.86%Saudi Arabia 0.73%By issuer
US Treasury 45.87%Companies 43.03%Foreign governments 6.83%Municipalities 1.51%Other 0.46%The bonds mature in 21.9 years on average (weighted by size), with an average coupon of 4.34%.
Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $24.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.75%, -3.86%, +0.84%.
How it works
ILTB tracks the Bloomberg U.S. Universal 10+ Year Index. It covers taxable U.S. dollar bonds with more than 10 years left until maturity, rated either investment grade or high yield (lower-rated, riskier debt). That spans U.S. Treasuries, other government-related debt, corporate bonds and emerging market bonds, but not tax-exempt municipal bonds or structured notes. Bonds are weighted by market value, so the largest issues count most. The index rebalances on the last day of each month, when bonds that slip under 10 years to maturity drop out.
BlackRock does not buy every index bond. It uses representative sampling: holding a subset chosen to match the index's duration (sensitivity to interest rates), credit ratings, yield and industry mix. At least 80% of assets must sit in index bonds or trades that mirror them, and up to 10% may go into futures, options, swaps or non-index bonds. The fund may lend securities worth up to one-third of its assets.
As of August 31, 2026, the fund had 3,861 holdings. U.S. Treasuries made up about 46% of assets, corporate bonds 43% and foreign governments 7%. The ten largest positions, all long-dated Treasury bonds, totaled about 10%. Average maturity was 21.9 years, so the fund's price swings sharply when interest rates move.
What it really costs
- ILTB charges 0.06% a year, versus an average of 0.06% for the similar funds below (6th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $6 in the first year and $77 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ILTB | $6 | $19 | $34 | $77 |
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
Its long-term bonds have moved only loosely with stocks, but their large swings when interest rates change make it a poor fit as a stable core holding.
Over the year to October 27, 2026, ILTB had a beta of 0.25. Beta measures how much a fund moves with the overall market, so this means it moved only loosely with stocks. That can help steady a stock-heavy portfolio, but it does not protect in every crisis. In the 2020 COVID crash, it fell 19.6% in under two weeks, then recovered in about 3.6 months. When rates rose in 2022, it dropped 28.8% while stocks fell too. Its deepest drop, 36.8% from August 2020 to October 2023, had not been recovered as of October 27, 2026. The fund launched in December 2009, so it has no record from the 2008 crisis. Anyone who has to sell shares in a year like 2022 would lock in losses.
ILTB pays income monthly. Its trailing 12-month yield was 5.23% as of October 27, 2026, and it costs 0.06% 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
- Investors who want long-term Treasury and corporate bonds in one fund for 0.06% a year, less than the 0.15% charged by TLT.
- Retirees looking for monthly income: the trailing 12-month yield was 5.23% as of October 27, 2026.
- People who want wider long-bond exposure than a Treasury-only fund, with about 43% in corporate bonds plus some foreign government and emerging market debt.
Look elsewhere if
- Anyone who may need the money within a few years: bonds averaging 21.9 years to maturity led to a 26.7% loss in 2022.
- Investors who want lower cost and smaller swings: AGG and BND charge 0.03% and hold shorter bonds averaging about 12 years.
- People who want only government-backed bonds: about 43% of assets are corporate bonds, some of them high-yield, which brings credit risk.
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 |
|---|---|---|---|---|---|
| ILTB this fund | 21.9 yrs | 0.06% | $594.1M | -5.4% | +5.9% |
| AGG iShares Core U.S. Aggregate Bond ETF | 12.4 yrs | 0.03% | $138.32B | -0.4% | +4.7% |
| BND Vanguard Total Bond Market ETF | 11.7 yrs | 0.03% | $397.11B | -0.4% | +4.7% |
| TLT iShares 20+ Year Treasury Bond ETF | 26 yrs | 0.15% | $47.05B | -5.3% | +2.1% |
| BIV Vanguard Intermediate-Term Bond ETF | 7.5 yrs | 0.03% | $52.45B | -0.7% | +5.1% |
| BSV Vanguard Short-Term Bond ETF | 2.9 yrs | 0.03% | $69.75B | +1.7% | +4.5% |
| IEF iShares 7-10 Year Treasury Bond ETF | 8.4 yrs | 0.15% | $41.82B | -1.7% | +4.0% |
| VGIT Vanguard Intermediate-Term Treasury ETF | 5.5 yrs | 0.03% | $48.41B | -0.2% | +4.5% |
Questions investors ask
Does ILTB pay monthly dividends?
Yes. ILTB pays income every month. Over the 12 months to October 27, 2026, it paid $2.43 per share, a trailing yield of 5.23%. The payments come from interest on the fund's bonds, so they are not fixed. They can fall if interest rates drop and the fund has to reinvest at lower yields. Bonds that mature or are paid back early can also lower income.
What's the difference between ILTB and TLT?
TLT holds only US Treasury bonds with 20 or more years to maturity, averaging 26 years. ILTB's bonds averaged 21.9 years, and its mix was about 46% Treasury, 43% corporate and 7% foreign government. ILTB costs 0.06% a year and TLT costs 0.15%. Both lost 5.4% over one year: ILTB as of October 27, 2026 and TLT as of October 30, 2026. Over three years, ILTB returned 5.9% a year and TLT 3.5%. TLT is far larger, with about $47 billion in assets compared with ILTB's $594 million.
Why did ILTB lose so much in 2022?
ILTB fell 26.71% in 2022 because interest rates rose quickly. When rates rise, existing bonds lose value, and long-term bonds lose the most. ILTB's bonds averaged more than 21 years to maturity. Its worst quarter was a 12.56% loss in the three months to June 30, 2022. Its deepest drop, 36.8% from August 2020 to October 2023, had not been fully recovered as of October 27, 2026.
Is ILTB good for retirement?
ILTB may suit retirees who want monthly income and long-term bonds that have moved only loosely with stocks, at a cost of 0.06% a year. The drawback is large swings. As of December 31, 2025, it returned -4.27% a year over five years and 2.40% a year over 10 years. Over five years, the broader Bloomberg US Universal Index returned 0.06% a year. Anyone who may need to sell shares in a bad year for bonds should weigh that risk.
What is ILTB's expense ratio?
ILTB's expense ratio is 0.06% a year, according to its prospectus filed June 18, 2026. That matches the average of similar bond funds. AGG and BND charge 0.03%, and TLT charges 0.15%. In the SEC's standard example, $10,000 earning 5% a year would cost about $6 in fees after one year. The total would be $34 after five years and $77 after 10 years.