iShares iBonds Sep 2020 Term Muni Bond ETF

Frequently Asked Questions About IBMI

What does IBMI invest in?

The investment seeks to track the investment results of the S&P AMT-Free Municipal Series 2020 IndexTM. The fund generally will invest at least 90% of its assets in the component securities of the underlying index, and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents, as well as in securities not included in the underlying index, but which the advisor believes will help the fund track the underlying index. The underlying index measures the performance of investment-grade, non-callable U.S. municipal bonds maturing in 2020.

What is the expense ratio of IBMI?

An expense ratio for iShares iBonds Sep 2020 Term Muni Bond ETF (IBMI) is not available from our data sources — neither our market-data feed nor the SEC's structured prospectus and annual-report datasets report one for this share class. The fund's prospectus on the issuer's site carries the authoritative fee.

How big is IBMI?

iShares iBonds Sep 2020 Term Muni Bond ETF (IBMI) manages $302.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is IBMI actively managed or an index fund?

IBMI is a passive index fund — it tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios because there's no security selection cost.

When was IBMI launched?

iShares iBonds Sep 2020 Term Muni Bond ETF (IBMI) launched in August 2014 and is managed by iShares.

How has IBMI performed?

IBMI's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.