iShares iBonds Dec 2035 Term Treasury ETF (IBTQ)

The iShares iBonds Dec 2035 Term Treasury ETF is a defined-maturity fund sponsored by BlackRock's iShares. It follows a passive index of U.S. Treasury securities scheduled to mature during 2035, giving the portfolio a single target maturity year rather than a constant duration.

Because it belongs to the iBonds term series, IBTQ is built to run its course and close. In its final year the maturing Treasuries are replaced with cash and cash equivalents, and the fund then terminates and returns its assets to shareholders. The approach is meant to resemble owning a basket of Treasury bonds held to maturity, while keeping the convenience of exchange trading. Investors commonly combine several iBonds funds with staggered maturity years to assemble a ladder of government bond exposure.