At a glance
SLQD charges 0.06% a year, below the 0.16% average of the 7 funds most like it (the 5th cheapest of 8). It has $2.38B in assets, the 6th largest of that group; it paid 4.44% of its price in distributions over the past 12 months, monthly. Over the past year it returned +1.9% with distributions reinvested, 2nd of those 8 funds; over three years it returned +5.3% a year. At its worst it fell 12.7% in the 2020 crash (S&P 500: 33.7%) and 6.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 14 months after the lows. Its ten largest positions make up 1.6% of the fund, out of 3,052 in all.
The short version
iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) tracks the Markit iBoxx USD Liquid Investment Grade 0-5 Index. The index holds US dollar bonds from companies rated investment grade, meaning a lower risk of default, that mature within five years. As of July 31, 2026, its average maturity was 2.6 years, shorter than VCSH's or IGSB's, so its price reacts less to rate changes. It costs 0.06% a year, versus 0.03% for VCSH and 0.04% for IGSB.
Price history
The interactive chart needs JavaScript.
SLQD +1.9% 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 | |
|---|---|---|---|---|---|---|
| SLQD official prospectus, to Dec 31, 2025 | — | +6.25% | — | +2.38% | +2.80% | — |
| Bloomberg US Universal Index index, same period | — | +7.58% | — | +0.06% | +2.44% | — |
| SLQD price data to Oct 27, 2026 | +1.3% | +1.9% | +5.3% | +2.7% | +2.6% | +2.5% |
- Over the year to Oct 27, 2026, SLQD returned +1.9%, 2nd of 8 among similar funds.
- Its 5-year annualized return was +2.7% and its 10-year +2.6%.
- In the 2020 COVID crash it fell 12.7% and regained its old high 2 months after the low.
- Its worst full calendar year was 2022 (-4.4%); its best was 2025 (+6.3%).
- The deepest fall in its price history was 12.7% (Mar 4, 2020 to Mar 19, 2020), recovered by May 19, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +1.3% | — |
| 2025 | +6.3% | +6.25% |
| 2024 | +5.0% | +5.01% |
| 2023 | +6.0% | +5.99% |
| 2022 | -4.4% | -4.45% |
| 2021 | -0.6% | -0.44% |
| 2020 | +4.8% | +4.67% |
| 2019 | +6.0% | +6.08% |
| 2018 | +1.1% | +1.16% |
| 2017 | +2.1% | +2.13% |
| 2016 | +1.7% | +2.15% |
| 2015 | +1.4% | — |
| 2014 | +1.6% | — |
| 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 6.8% over that stretch · deepest drop along the way 12.7%, back to its old high 2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 6.1% over that stretch · deepest drop along the way 6.3%, back to its old high 14.1 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.6644 | |
| 2025 | $2.1000 | +12.9% |
| 2024 | $1.8600 | +26.5% |
| 2023 | $1.4700 | +54.7% |
| 2022 | $0.9500 | +11.8% |
| 2021 | $0.8500 | -30.3% |
| 2020 | $1.2200 | -15.9% |
| 2019 | $1.4500 | +16.0% |
| 2018 | $1.2500 | +25.0% |
| 2017 | $1.0000 | +11.1% |
| 2016 | $0.9000 | +21.6% |
| 2015 | $0.7400 | +21.3% |
| 2014 | $0.6100 |
What's inside
As of Jul 31, 2026, the fund held 3,052 securities; the ten largest made up 1.62% of assets, and 7.03% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| T-MOBILE USA INC Bonds and notes | 0.21% | |
| BANK OF AMERICA CORP Bonds and notes | 0.19% | |
| ABBVIE INC Bonds and notes | 0.17% | |
| AMAZON.COM INC Bonds and notes | 0.16% | |
| CVS HEALTH CORP Bonds and notes | 0.16% | |
| NVIDIA CORP Bonds and notes | 0.15% | |
| GOLDMAN SACHS GROUP INC Bonds and notes | 0.15% | |
| AMAZON.COM INC Bonds and notes | 0.15% | |
| BOEING CO Bonds and notes | 0.15% | |
| WELLS FARGO & COMPANY Bonds and notes | 0.14% | |
| WELLS FARGO & COMPANY Bonds and notes | 0.13% | |
| PFIZER INVESTMENT ENTER Bonds and notes | 0.13% | |
| CIGNA GROUP Bonds and notes | 0.13% | |
| CITIGROUP INC Bonds and notes | 0.13% | |
| MICROSOFT CORP Bonds and notes | 0.13% |
By country
United States 80.78%United Kingdom 4.37%Canada 4.23%Japan 2.82%Australia 1.21%By issuer
Companies 94.73%Other 3.1%The bonds mature in 2.6 years on average (weighted by size), with an average coupon of 4.1%.
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 $72.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.28%, +0.16%, -0.03%.
How it works
SLQD is an index fund run by BlackRock's iShares business. It follows the Markit iBoxx USD Liquid Investment Grade 0-5 Index. That index holds US dollar corporate bonds rated investment grade by Markit, the index provider, with zero to five years left until they mature. To get in, a bond must come from an issuer with at least $1 billion of bonds outstanding, and the bond itself must be at least $500 million in size. Bonds are weighted by market value, no single issuer can exceed 3%, and the index rebalances monthly.
The fund doesn't try to beat the index. It uses "representative sampling," meaning it may not own every bond in the index. Instead it holds a sample chosen to match the index's maturity, credit ratings, yield and industry mix. At least 80% of assets must be in index bonds, and up to 10% can go into futures, options, swaps or similar bonds. As of July 31, 2026, it held 3,052 bonds, and the top 10 made up just 1.62% of assets.
Bonds leave the index once their remaining life runs out, and the fund reinvests in new bonds at whatever rates are on offer, so its income can rise or fall. Turnover was 24%. The fund may lend out securities worth up to one-third of its assets.
What it really costs
- SLQD charges 0.06% a year, versus an average of 0.16% for the similar funds below (5th 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 |
|---|---|---|---|---|
| SLQD | $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 short-maturity, investment-grade company bonds have swung far less than stocks, though they have still had real losses in market shocks.
SLQD can add a steadier layer of monthly income alongside stocks. Its trailing 12-month yield was 4.44% as of October 27, 2026. Under the SEC's standard example, its 0.06% expense ratio comes to $6 on $10,000 in the first year and $77 over 10 years. It is not risk-free. In the COVID crash it fell 12.7% between March 4 and March 19, 2020, and was back to its old high by May 19, 2020. In the 2022 bear market it fell 6.3% through September 27 and took about 14 months to recover, until December 1, 2023. Its worst calendar year was 2022, at -4.45%. Anyone who had to sell shares for spending during those stretches would have locked in losses. The fund launched in 2013, so it has no record from 2008. 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 monthly income from investment-grade company bonds; the trailing yield was 4.44% as of October 27, 2026.
- Savers setting aside money for the next few years who want short maturities: 2.6 years on average as of July 31, 2026.
- Holders who want broad spread: 3,052 bonds, with the top 10 making up just 1.62% of assets as of July 31, 2026.
Look elsewhere if
- Investors focused on cost: VCSH charges 0.03% and IGSB 0.04%, versus SLQD's 0.06%.
- Anyone who can't accept losses on money they'll need soon: SLQD fell 12.7% in March 2020 and took about 14 months to recover from its 2022 drop.
- Investors who want government-bond safety in a crisis: SLQD holds only company debt, with large weights in financial and consumer companies.
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 |
|---|---|---|---|---|---|
| SLQD this fund | 2.6 yrs | 0.06% | $2.38B | +1.9% | +5.3% |
| VCSH Vanguard Short-Term Corporate Bond ETF | 3.5 yrs | 0.03% | $51.74B | +1.9% | +5.7% |
| IGSB iShares 1-5 Year Investment Grade Corporate… | 3.7 yrs | 0.04% | $23.46B | +1.5% | +5.4% |
| FSIG First Trust Limited Duration Investment Gra… | 3.8 yrs | 0.55% | $1.51B | +1.1% | +5.2% |
| JPST JPMorgan Ultra-Short Income ETF | 2 yrs | 0.18% | $41.13B | +3.1% | +4.8% |
| PFIG Invesco Fundamental Investment Grade Corpor… | 4.9 yrs | 0.22% | $123.9M | -0.2% | +5.7% |
| IGIB iShares 5-10 Year Investment Grade Corporat… | 8.3 yrs | 0.04% | $18.72B | -1.0% | +6.4% |
| VCIT Vanguard Intermediate-Term Corporate Bond E… | 8.2 yrs | 0.03% | $72.04B | -0.6% | +7.1% |
Questions investors ask
Does SLQD pay monthly dividends?
Yes. SLQD pays income every month. Over the 12 months to October 27, 2026, it paid about $2.20 per share, a trailing yield of 4.44%. The money comes from interest on the corporate bonds it holds. Payments aren't fixed. The prospectus warns that income can fall when interest rates drop, because maturing or called bonds get replaced with lower-yielding ones.
What's the difference between SLQD and IGSB?
Both are iShares short-term investment-grade corporate bond ETFs. SLQD covers bonds maturing in zero to five years, while IGSB covers one to five years. As of mid-2026 filings, SLQD's average maturity was 2.6 years and IGSB's was 3.7, so SLQD is a bit less sensitive to rates. IGSB is cheaper, at 0.04% versus 0.06%, and much bigger, with about $23.5 billion in net assets against SLQD's $2.4 billion.
Is SLQD safe?
It is lower-risk than most stock funds, but it can lose money. Between March 4 and March 19, 2020, it fell 12.7%, though it recovered within about two months. In 2022 it lost 4.45% for the year as rates rose, and it took about 14 months to recover from its 2022 drop. It also carries credit risk, the chance that a company fails to pay. All of its holdings are company bonds, not government bonds.
What is SLQD's expense ratio?
SLQD's expense ratio is 0.06%, according to its prospectus filed February 23, 2026. Under the SEC's standard example ($10,000 invested, 5% annual return), that comes to $6 after one year, $19 after three, $34 after five and $77 after 10. That's below the 0.16% average for similar funds, but VCSH at 0.03% and IGSB at 0.04% cost less. SLQD ranks 5th of 8 on cost.
How has SLQD performed over the long term?
As of December 31, 2025, SLQD's average annual returns were 6.25% over one year, 2.38% over five years and 2.8% over 10 years. The broader Bloomberg US Universal Index returned 7.58%, 0.06% and 2.44% over the same periods. SLQD held up better over five years because its short maturities limited losses when rates rose in 2022. Based on price, it returned 1.9% over the year to October 27, 2026.