iShares Investment Grade Corporate Bond Buywrite Strategy ETF
The fund will seek to write call options up to (but not exceeding) the full amount of shares of the underlying fund held in the fund (i.e., the short position in the call option is offset, or “covered,” by the long position the fund holds in shares of the underlying fund).
SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN · NET +$79M OVER THIS RANGE
Money keeps arriving — +$50M of net buying over the past month, about 15.9% of the fund's asset base, while the price has returned -4.6% so far this year. At 0.34% a year it is not the cheapest way in — AGG runs the same ground at 0.03%.
COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH
| # | Holding | Weight | Price | Day | 52-wk | |
|---|---|---|---|---|---|---|
| 1 | —ISHARES IBOXX $ INV GRADE CORPORAT | 99.92% | — | — | — | |
| 2 | —USD CASH | 0.38% | — | — | — | |
| 3 | —BLK CSH FND TREASURY SL AGENCY - Money Market | 0.16% | — | — | — |
| 1 week | +0.5% |
| 1 month | -0.9% |
| 3 months | -1.2% |
| 6 months | -5.1% |
| YTD | -4.6% |
| 1 year | — |
| 3 years | — |
PRICE RETURN, DISTRIBUTIONS NOT REINVESTED
| 1 week | +$72K |
| 1 month | +$50M |
| 3 months | +$55M |
| YTD | +$54M |
| 1 year | +$79M |
CREATION/REDEMPTION DOLLARS, DAILY RECORDS
The top holding is 99.9% of the book; the top ten carry 100%. Spread across 3+ names, it behaves like roughly 1 equally-weighted positions.
VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK
Due diligence cuts both ways. These funds sit on the same shelf and beat LQDW on at least one dimension that matters — the fee, the asset base, or where the money is going.
| Fund | Fee | Assets | Flow, 1M | The case | |
|---|---|---|---|---|---|
| STIP iShares 0-5 Year TIPS Bond ETF | 0.03% | $16B | +$288M | -31bp on fee · 51× the assets · +$288M in over the month | Head-to-head |
| MBB iShares MBS ETF | 0.04% | $39B | +$26M | -30bp on fee · 123× the assets · +$26M in over the month | Head-to-head |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 0.04% | $23.4B | +$520M | -30bp on fee · 74× the assets · +$520M in over the month | Head-to-head |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 0.04% | $18.7B | +$312M | -30bp on fee · 59× the assets · +$312M in over the month | Head-to-head |
| MUB iShares National Muni Bond ETF | 0.05% | $45.8B | +$585M | -29bp on fee · 145× the assets · +$585M in over the month | Head-to-head |