iShares 20+ Year Treasury 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 · 1M SHOWN · NET −$1M OVER THIS RANGE
Money is leaving — −$1M walked out over the past month, while the price has returned -5.5% so far this year. At 0.35% 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 | —USD CASH | 0.56% | — | — | — | |
| 2 | —BLK CSH FND TREASURY SL AGENCY - Money Market | 0.16% | — | — | — |
| 1 week | +1.1% |
| 1 month | -1.7% |
| 3 months | -1.4% |
| 6 months | -7.8% |
| YTD | -5.5% |
| 1 year | — |
| 3 years | — |
PRICE RETURN, DISTRIBUTIONS NOT REINVESTED
| 1 week | −$10M |
| 1 month | −$1M |
| 3 months | −$83M |
| YTD | +$292M |
| 1 year | +$755M |
CREATION/REDEMPTION DOLLARS, DAILY RECORDS
The top holding is 0.6% of the book; the top ten carry 1%. Spread across 2+ names, it behaves like roughly 2 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 TLTW 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 | -32bp on fee · 9× the assets · +$288M in over the month | Head-to-head |
| MBB iShares MBS ETF | 0.04% | $39B | +$26M | -31bp on fee · 22× 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 | -31bp on fee · 13× 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 | -31bp on fee · 10× the assets · +$312M in over the month | Head-to-head |
| MUB iShares National Muni Bond ETF | 0.05% | $45.8B | +$585M | -30bp on fee · 25× the assets · +$585M in over the month | Head-to-head |