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iShares iBonds Dec 2032 Term Treasury ETF

IBTMNasdaqiSharesB

$22.13+0.03 (+0.13%)

At close: Nov 2, 2026, 4:00 PM ET

Intraday session: up, 79 prints from 22.10 to 22.13. Range 22.09 to 22.14. Use the arrow keys to read each point.22.1122.1410 AM12 PM2 PM4 PM
Expense ratio
0.07%
Fund size
$626M
1Y total return
−0.7%
Yield · Last 12 months
4.00%
Holdings
17
Avg volume · 30D
185K sh
52W range
low $21.62high $23.46
Launched

The ETF.net IBTM Grade

Based on 5 of 6 pillars

B

Score 59 out of 100

Rank
14 of 31
Six-pillar profile for IBTM. Scores out of 100: Cost 65, Risk 37, Mission not scored, Tradability 62, Holdings 61, Durability 82. Strongest: Durability (82). Weakest: Risk (37). Based on 5 of 6 pillars.

Score 59 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B65 out of 100
    Rank 1 of 31
  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored
  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D37 out of 100
    Rank 19 of 29
  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B62 out of 100
    Rank 9 of 31
  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B61 out of 100
    Rank 16 of 31
  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A82 out of 100
    Rank 6 of 31

Our read on IBTM

ETF.net Research

In short

BA bond with a ticker. IBTM holds US Treasuries maturing in 2032, pays monthly along the way, and winds down around December 15, 2032, when proceeds go back to shareholders. One rung of a ladder, bought in one click.

Stated mandate

The Fund seeks to track an index of U.S. Treasury bonds maturing in 2032. It uses an indexing strategy and will liquidate around December 15, 2032.

Why people hold it

  • Defined maturity: it tracks an index of Treasuries maturing in 2032 and liquidates around December 15, 2032, so it behaves more like an individual bond than a perpetual bond fund.
  • 0.07% a year, under the 0.10% typical for target-maturity bond funds. Cheap matters more when the underlying paper is US Treasuries.
  • Treasury-only holdings, so there is no corporate credit to underwrite, and the fund distributes monthly.
  • Live since 2022 and one of the stronger implementations in the target-maturity bond group, from the iShares iBonds lineup that runs rungs across many maturity years.ishares.com

Worth knowing

  • The maturity feature arrives at the end. Until then the share price moves with Treasury yields, and a 2032 target means years of that sensitivity.
  • At wind-down you receive cash, not an automatic roll into the next rung. Redeploying is a decision you make.
  • Moderately traded rather than a volume heavyweight, so spreads can run wider than on the largest broad Treasury funds.

IBTM Performance

Launched Jul 6, 2022

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
IBTM$9,934
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. IBTM $9,934. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for IBTM. Periods over one year show the average yearly return.
PeriodIBTM
Year to date−1.1%
1 month+2.3%
3 months−0.2%
1 year−0.7%
3 yearsper year+5.0%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for IBTM
YearReturn barIBTM
2026 YTD−1.1%
2025+8.1%
2024−0.1%
2023+3.5%
2022−4.6%

History from Jul 8, 2022

IBTM in the news

IBTM Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
4.00%Last 12 months
Payout per share
$0.89Last 12 months
Last payment
$0.07 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2023–2026

One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.04; Mar 1, 2023 $0.06; Apr 3, 2023 $0.07; May 1, 2023 $0.06; Jun 1, 2023 $0.07; Jul 3, 2023 $0.07; Aug 1, 2023 $0.07; Sep 1, 2023 $0.06; Oct 2, 2023 $0.07; Nov 1, 2023 $0.07; Dec 1, 2023 $0.07; Dec 14, 2023 $0.08; Feb 1, 2024 $0.07; Mar 1, 2024 $0.07; Apr 1, 2024 $0.08; May 1, 2024 $0.07; Jun 3, 2024 $0.08; Jul 1, 2024 $0.07; Aug 1, 2024 $0.08; Sep 3, 2024 $0.07; Oct 1, 2024 $0.07; Nov 1, 2024 $0.07; Dec 2, 2024 $0.07; Dec 18, 2024 $0.08; Feb 3, 2025 $0.07; Mar 3, 2025 $0.07; Apr 1, 2025 $0.08; May 1, 2025 $0.08; Jun 2, 2025 $0.08; Jul 1, 2025 $0.08; Aug 1, 2025 $0.08; Sep 2, 2025 $0.08; Oct 1, 2025 $0.07; Nov 3, 2025 $0.08; Dec 1, 2025 $0.07; Dec 19, 2025 $0.08; Feb 2, 2026 $0.07; Mar 2, 2026 $0.07; Apr 1, 2026 $0.08; May 1, 2026 $0.07; Jun 1, 2026 $0.08; Jul 1, 2026 $0.07; Aug 3, 2026 $0.08; Sep 1, 2026 $0.08; Oct 1, 2026 $0.07. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Nov 2, 2026Pays Nov 5, 2026$0.07
Oct 1, 2026Oct 6, 2026$0.07
Sep 1, 2026Sep 4, 2026$0.08
Aug 3, 2026Aug 6, 2026$0.08
Jul 1, 2026Jul 7, 2026$0.07
Jun 1, 2026Jun 4, 2026$0.08
May 1, 2026May 6, 2026$0.07
Apr 1, 2026Apr 7, 2026$0.08
Mar 2, 2026Mar 5, 2026$0.07
Feb 2, 2026Feb 5, 2026$0.07
Dec 19, 2025Dec 24, 2025$0.08
Dec 1, 2025Dec 4, 2025$0.07

See all 51 payments⁠

$10,000 in IBTM 3 years ago paid $1,207 in dividends.⁠

IBTM Risk

How much the fund’s monthly returns vary, scaled to a year.
6.2%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.10
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−13.6%
51 months · trough Oct 2023
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.14
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

IBTM Cost

Tied cheapest in Defined-Maturity Treasury

$1,480

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IBTM 0.07%

    $1,480

$10,000
30 years

Cost over time

  • IBTM 0.07%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$500$1K$1.5K051015202530IBTM $1,480

Year by year

YearIBTM
10$128
20$503
30$1,480

Other funds in Defined-Maturity Treasury