IBMM ETF — Holdings & Analysis

The iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) is designed to track the performance of U.S. municipal bonds maturing in 2024, offering a targeted maturity date strategy.

With $0.35 billion in assets under management and an expense ratio of 0.18%, IBMM provides exposure to investment-grade, tax-exempt municipal bonds. A significant portion of the fund is allocated to cash and related instruments, with its top holding being BlackRock Liquidity MuniCash Instl (MCSXX) at 32.72%. IBMM's strategy focuses on delivering a defined maturity profile, differentiating it from perpetual bond ETFs.

iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) ETF — Price, Holdings & Analysis

The iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) is designed to track the performance of U.S. municipal bonds maturing in 2024, offering a targeted maturity date strategy. With $0.35 billion in assets under management and an expense ratio of 0.18%, IBMM provides exposure to investment-grade, tax-exempt municipal bonds. A significant portion of the fund is allocated to cash and related instruments, with its top holding being BlackRock Liquidity MuniCash Instl (MCSXX) at 32.72%. IBMM's strategy focuses on delivering a defined maturity profile, differentiating it from perpetual bond ETFs.

ETF Overview

The fund will invest at least 80% of its assets in the component securities of the underlying index, and it will invest at least 90% of its assets in fixed income securities of the types included in the underlying index. The index measures the performance of non-callable, investment-grade tax-exempt U.S. municipal bonds maturing in 2024.

The iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) aims to replicate the performance of an index composed of non-callable, investment-grade U.S. municipal bonds that mature in 2024. This ETF is designed for investors seeking a defined maturity date for their fixed-income investments, allowing them to align their bond holdings with specific financial goals or liabilities. IBMM invests at least 80% of its assets in the component securities of its underlying index and at least 90% in fixed income securities included in the index. A notable aspect of IBMM is its significant allocation to cash and other instruments, representing 100% of its sector allocation, with a substantial holding in BlackRock Liquidity MuniCash Instl (MCSXX) at 32.72%. This allocation strategy provides liquidity and may influence the fund's overall performance and risk profile. IBMM's targeted maturity approach distinguishes it from traditional bond ETFs, which maintain a perpetual portfolio of bonds with varying maturities.

Risk Metrics

IBMM's risk profile is influenced by its focus on municipal bonds maturing in 2024 and its significant allocation to cash. The fund's beta of 0.22 (3Y) indicates lower volatility compared to the broader market. However, the concentration in a single maturity year exposes investors to interest rate risk, as changes in rates can impact the value of bonds maturing in 2024. The high allocation to cash, while providing liquidity, may also limit potential returns compared to a portfolio fully invested in municipal bonds. The expense ratio of 0.18% introduces a minor drag on performance, which should be considered in the context of the fund's overall return potential. Investors should also be aware of the credit risk associated with municipal bonds, although the fund focuses on investment-grade securities.

Expense Ratio

0.18%

What does IBMM hold?

Holding	Weight
BlackRock Liquidity MuniCash Instl (MCSXX)	32.72%

How Is the Fund Allocated?

Sector	Weight
Cash & Others	100.0%

Country	Weight
Other	100.0%

Dividend Yield

2.12%

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Risk Metrics

Beta: 0.22

Questions & Answers

What is IBMM and what does it track?

The iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) is an exchange-traded fund designed to track the performance of an index composed of U.S. municipal bonds that are non-callable, investment-grade, and set to mature in December 2024.

What is the expense ratio for IBMM?

The expense ratio for the iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) is 0.18%. This means that for every $10,000 invested in the fund, $18 is used to cover the fund's operating expenses annually.

What are the top holdings in IBMM?

As of 2026-03-15, the top holding in the iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) is BlackRock Liquidity MuniCash Instl (MCSXX), comprising 32.72% of the fund's total assets.

This significant allocation to a cash-equivalent instrument reflects the fund's strategy and liquidity management.

Is IBMM a good long-term investment?

Whether IBMM is a suitable long-term investment depends on an investor's specific financial goals and risk tolerance.

IBMM is designed to provide exposure to municipal bonds maturing in 2024, making it a targeted investment for those with a specific time horizon.

How does IBMM compare to similar ETFs?

IBMM differentiates itself from similar ETFs through its defined maturity strategy, focusing on municipal bonds maturing in December 2024.

While other municipal bond ETFs may offer broader exposure to the municipal bond market with varying maturities, IBMM provides a targeted approach for investors seeking to align their fixed-income investments with a specific time horizon.

Does IBMM pay dividends?

Yes, the iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) does pay dividends. As of 2026-03-15, the fund has a dividend yield of 2.12%.

This means that investors can expect to receive income payments based on their holdings in the fund. The dividend yield represents the annual dividend income relative to the fund's current market price.