Fixed Income

TLT

iShares 20+ Year Treasury Bond ETF

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  • NAV as of Nov 20, 2024 $90.39
    52 WK: 87.71 - 101.25
  • 1 Day NAV Change as of Nov 20, 2024 -0.29 (-0.32%)
  • NAV Total Return as of Nov 19, 2024 YTD: -5.13%
  • Morningstar Rating
  • Fees as stated in the prospectus Expense Ratio: 0.15%

Overview

Why TLT?

1. Exposure to long-term U.S. Treasury bonds

 

2. Targeted access to a specific segment of the U.S. Treasury market

 

3. Use to customize your exposure to Treasuries

INVESTMENT OBJECTIVE

The iShares 20+ Year Treasury Bond ETF seeks to track the investment results of an index composed of U.S. Treasury bonds with remaining maturities greater than twenty years.
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Performance

Performance

Growth of Hypothetical $10,000

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The Hypothetical Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Distributions

Record Date Ex-Date Payable Date
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Record Date Ex-Date Payable Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

Premium/Discount

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  1y 3y 5y 10y Incept.
Total Return (%) 15.07 -9.45 -4.99 0.77 4.21
Market Price (%) 15.01 -9.45 -5.01 0.77 4.21
Benchmark (%) 15.21 -9.38 -4.92 0.86 4.30
After Tax Pre-Liq. (%) 13.26 -10.53 -5.92 -0.26 2.89
After Tax Post-Liq. (%) 8.84 -7.44 -4.04 0.18 2.81
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 1.93 1.89 7.90 5.76 15.07 -25.75 -22.59 8.01 149.73
Market Price (%) 1.85 1.99 7.93 5.76 15.01 -25.75 -22.66 8.01 149.68
Benchmark (%) 2.03 1.89 7.97 5.85 15.21 -25.59 -22.28 8.94 154.62
After Tax Pre-Liq. (%) 0.84 1.75 7.47 4.91 13.26 -28.38 -26.30 -2.55 88.39
After Tax Post-Liq. (%) 1.10 1.12 4.67 3.38 8.84 -20.71 -18.61 1.86 85.02
  2019 2020 2021 2022 2023
Total Return (%) 14.93 17.92 -4.76 -31.41 2.96
Market Price (%) 14.16 18.11 -4.60 -31.25 2.77
Benchmark (%) 15.09 18.06 -4.74 -30.76 2.15
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

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All iShares ETFs and ETPs trade commission free online through Fidelity.

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

Any links to third-party websites are provided for use at your own discretion. Each third party is solely responsible for the content presented and availability of its website. BlackRock does not control, monitor or maintain third-party websites, their content or the products/services they offer. Content may change without notice. When you leave BlackRock’s website and enter a third-party website, you will be subject to that site’s terms, policies and/or notices, including those related to privacy and security, as applicable. Please review those policies and notices on the third-party website.

Before engaging Fidelity or any broker-dealer, you should evaluate the overall fees and charges of the firm as well as the services provided. Free commission offer applies to online purchases of select iShares ETFs in a Fidelity account. The sale of ETFs is subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). For iShares ETFs, Fidelity receives compensation from the ETF sponsor and/or its affiliates in connection with an exclusive long-term marketing program that includes promotion of iShares ETFs and inclusion of iShares funds in certain Fidelity Brokerage Services platforms and investment programs. Please note, this security will not be marginable for 30 days from the settlement date, at which time it will automatically become eligible for margin collateral. Additional information about the sources, amounts, and terms of compensation can be found in the ETF’s prospectus and related documents. Fidelity may add or waive commissions on ETFs without prior notice.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

©2024 BlackRock, Inc or its affiliates. All Rights Reserved. BLACKROCK, iSHARES, iBONDS, LIFEPATH, ALADDIN and the iShares Core Graphic are trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

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Key Facts

Key Facts

Net Assets of Fund
as of Nov 20, 2024
$57,533,646,968
Exchange
NASDAQ
Benchmark Index
ICE U.S. Treasury 20+ Years Bond Index
Shares Outstanding
as of Nov 20, 2024
636,500,000
Premium/Discount
as of Nov 20, 2024
0.02
Closing Price
as of Nov 20, 2024
90.41
30 Day Median Bid/Ask Spread
as of Nov 20, 2024
0.01%
Fund Inception
Jul 22, 2002
Asset Class
Fixed Income
Bloomberg Index Ticker
IDCOT20
Distribution Frequency
Monthly
CUSIP
464287432
30 Day Avg. Volume
as of Nov 20, 2024
47,236,255.00
Daily Volume
as of Nov 20, 2024
27,755,434.00

NAIC Designated (Schedule D Eligible)

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Nov 19, 2024
45
30 Day SEC Yield
as of Nov 19, 2024
4.56%
Standard Deviation (3y)
as of Oct 31, 2024
16.89%
Weighted Avg Coupon
as of Nov 19, 2024
2.76
Effective Duration
as of Nov 19, 2024
16.19 yrs
Option Adjusted Spread
as of Nov 19, 2024
-0.21 bps
Equity Beta (3y)
as of Oct 31, 2024
0.63
12m Trailing Yield
as of Nov 19, 2024
4.06%
Average Yield to Maturity
as of Nov 19, 2024
4.68%
Weighted Avg Maturity
as of Nov 19, 2024
25.48 yrs
Convexity
as of Nov 19, 2024
3.56
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund. Learn more

This fund does not seek to follow a sustainable, impact or ESG investment strategy. The metrics do not change the fund’s investment objective or constrain the fund’s investable universe, and there is no indication that a sustainable, impact or ESG investment strategy will be adopted by the fund. For more information regarding the fund's investment strategy, please see the fund's prospectus.

Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC)
as of Sep 21, 2024
A
MSCI ESG Quality Score (0-10)
as of Sep 21, 2024
5.9
Fund Lipper Global Classification
as of Sep 21, 2024
Bond USD Government
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of -
-
MSCI ESG % Coverage
as of Sep 21, 2024
99.44%
MSCI ESG Quality Score - Peer Percentile
as of Sep 21, 2024
85.06%
Funds in Peer Group
as of Sep 21, 2024
174
MSCI Weighted Average Carbon Intensity % Coverage
as of Sep 21, 2024
0.00%
All data is from MSCI ESG Fund Ratings as of Sep 21, 2024, based on holdings as of Aug 31, 2024. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

Fees

Fees

as of current prospectus
Management Fee 0.15%
Acquired Fund Fees and Expenses 0.00%
Other Expenses 0.00%
Expense Ratio 0.15%

The amounts shown above are as of the current prospectus, but may not include extraordinary expenses incurred by the Fund over the past fiscal year. Amounts are rounded to the nearest basis point, which in some cases may be "0.00".

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for iShares 20+ Year Treasury Bond ETF, as of Oct 31, 2024 rated against 38 Long Government Funds based on risk adjusted total return.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective Sep 30, 2024)
Analyst-Driven % as of Sep 30, 2024
20.00
Data Coverage % as of Sep 30, 2024
81.00

Holdings

Holdings

as of Nov 19, 2024
Issuer Weight (%)
UNITED STATES TREASURY 98.79
Name Sector Asset Class Market Value Weight (%) Notional Value Par Value CUSIP ISIN SEDOL Price Location Exchange Currency Duration YTM (%) FX Rate Maturity Coupon (%) Mod. Duration Yield to Call (%) Yield to Worst (%) Real Duration Real YTM (%) Market Currency Accrual Date Effective Date
Detailed Holdings and Analytics
Holdings are subject to change.



The values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of systematic fair valuation (“the vendor price”). The vendor price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). Holdings data shown reflects the investment book of record, which may differ from the accounting book of record used for the purposes of determining the Net Assets of the Fund. Additionally, where applicable, foreign currency exchange rates with respect to the portfolio holdings denominated in non-U.S. currencies for the valuation price will be generally determined as of the close of business on the New York Stock Exchange, whereas for the vendor price will be generally determined as of 4 p.m. London. The calculated values may have been different if the valuation price were to have been used to calculate such values. The vendor price is as of the most recent date for which a price is available and may not necessarily be as of the date shown above.

Please see the “Determination of Net Asset Value” section of each Fund’s prospectus for additional information on the Fund’s valuation policies and procedures.

Exposure Breakdowns

Exposure Breakdowns

as of Nov 19, 2024

% of Market Value

Type Fund
as of Nov 19, 2024

% of Market Value

Type Fund
The maturity breakdown above is based on Weighted Average Life (WAL). WAL is the average length of time to the repayment of principal for the securities in the fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date.

as of Nov 19, 2024

% of Market Value

Type Fund
Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security, the lower of the two ratings if only two agencies rate a security, and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.
Allocations are subject to change.

Price Yield Calculator

Price Yield Calculator

The calculator provides clients with an indication of an ETF's yield and duration for a given market price. The ACF Yield is the discount rate that equates the ETF's aggregate cash flows (i.e., the sum of the cash flows of the ETF's holdings) to a given ETF price. The cash flows are based on the yield to worst methodology in which a bond's cash flows are assumed to occur at the call date (if applicable) or maturity, whichever results in the lowest yield for that bond holding. For a given ETF price, this calculator will estimate the corresponding ACF Yield and spread to the relevant government reference security yield. Note that the ACF Yield will differ from the ETF's Weighted Avg YTM. For more information on Aggregate Cash Flow Yield, see info here.

As of 11/20/24
Price $90.41
4.69%
Modified Duration 16.28 years

Spread of ACF Yield (4.69%) over 30.00 yr Treasury Yield (4.58%) As of 11/20/24 is + 10 bps

Results generated are for illustrative purposes only and are not representative of any specific investment outcome. For standardized performance, please see the Performance section above.

READY TO INVEST?

READY TO INVEST?

There are many ways to access iShares ETFs. Learn how you can add them to your portfolio.

Learn More Learn More

Contact your advisor

Contact a financial professional to discuss how iShares ETFs and ETPs can fit in your investment portfolio.

Buy through your brokerage

iShares funds are available through online brokerage firms.

All iShares ETFs and ETPs trade commission free online through Fidelity.

By clicking on the button below, you will leave BlackRock’s website.

Buy now on Fidelity

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

Any links to third-party websites are provided for use at your own discretion. Each third party is solely responsible for the content presented and availability of its website. BlackRock does not control, monitor or maintain third-party websites, their content or the products/services they offer. Content may change without notice. When you leave BlackRock’s website and enter a third-party website, you will be subject to that site’s terms, policies and/or notices, including those related to privacy and security, as applicable. Please review those policies and notices on the third-party website.

Before engaging Fidelity or any broker-dealer, you should evaluate the overall fees and charges of the firm as well as the services provided. Free commission offer applies to online purchases of select iShares ETFs in a Fidelity account. The sale of ETFs is subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). For iShares ETFs, Fidelity receives compensation from the ETF sponsor and/or its affiliates in connection with an exclusive long-term marketing program that includes promotion of iShares ETFs and inclusion of iShares funds in certain Fidelity Brokerage Services platforms and investment programs. Please note, this security will not be marginable for 30 days from the settlement date, at which time it will automatically become eligible for margin collateral. Additional information about the sources, amounts, and terms of compensation can be found in the ETF’s prospectus and related documents. Fidelity may add or waive commissions on ETFs without prior notice.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

©2024 BlackRock, Inc or its affiliates. All Rights Reserved. BLACKROCK, iSHARES, iBONDS, LIFEPATH, ALADDIN and the iShares Core Graphic are trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

iCRMH0424U/S-3489128

Literature

Literature