iShares iBonds Dec 2034 Term Muni Bond ETF (IBMW)

The iShares iBonds Dec 2034 Term Muni Bond ETF (IBMW) is a target-maturity bond fund from BlackRock's iShares that holds investment-grade U.S. municipal bonds maturing in 2034.

The fund tracks an index of tax-exempt bonds issued by states, cities and other local government entities, excluding bonds subject to the alternative minimum tax. Interest income from these holdings is generally exempt from federal income tax. As the bonds mature during 2034, the fund is expected to wind down and distribute its assets to shareholders around December 2034.

The defined maturity date allows investors to use the fund much like an individual municipal bond held to maturity or as one rung in a ladder of iBonds funds.