iShares iBonds Dec 2036 Term Treasury ETF (IBTR)

The iShares iBonds Dec 2036 Term Treasury ETF is part of BlackRock's iShares iBonds family of defined-maturity funds. It tracks an index of U.S. Treasury notes and bonds that mature during 2036, so all of its holdings share the same target maturity year.

As with other term funds in the series, IBTR is designed to terminate rather than continue indefinitely. During its last year the fund's maturing bonds are held as cash and cash equivalents, after which the fund closes and distributes its net assets to shareholders. This gives the fund a profile similar to a directly held Treasury bond with a known end date, in an exchange-traded wrapper. It can be paired with iBonds funds of other maturity years to form a Treasury bond ladder.