iShares Core Universal USD Bond ETF (0BYQ)
XMUN 
Summary
0BYQ Chart
Ameriprise Financial Inc. Acquires 131,323 Shares of iShares Core Total USD Bond Market ETF $IUSB
Ameriprise Financial Inc. increased its stake in shares of iShares Core Total USD Bond Market ETF (NASDAQ: IUSB) by 1.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 11,066,646 shares of the company's stock after purchasing an additional 131,323 shares during the period. Ameriprise
IUSB: A Rate Cut Is Up In The Air
The IUSB ETF is highly sensitive to rate changes due to its higher duration. Rising inflation expectations complicate the Fed's policy decisions, making sustained rate less likely than markets think, despite the emerging recessionary pressure consensus in bond markets. Falling oil prices may support a rate cut narrative, but we're cautious, favoring selective equities over duration in the current environment.
IUSB: Correlation May Be Breaking
The iShares Core Total USD Bond Market ETF could be a viable countercyclical investment as the equity-bond market correlation may be breaking. IUSB has low expense ratios and high credit quality, but its significant duration makes it sensitive to medium to long-term rate changes. If inflation concerns subside, the Fed may lower rates to support growth, benefiting fixed income, though the economic decline is likely needed first, which is the basis of breaking correlation.
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iShares Core Universal USD Bond ETF Profile
| XMUN Exchange | US Country |
Overview
This entity operates as an investment fund, primarily focusing on investments that comprise the component securities of its underlying index, as well as engaging in to-be-announced transactions (TBAs). The critical investment strategy involves allocating at least 80% of its assets towards these securities and TBAs, ensuring adherence to the fund's foundational investment goals. The underlying index is designed to track the performance of U.S. dollar-denominated taxable bonds, encompassing a range of bonds from investment-grade to high yield. This approach allows the fund to maintain a diversified portfolio, aiming to provide investors with exposure to a broad spectrum of the U.S. bond market, enhancing the potential for returns while managing risk.
Products and Services
Component Securities Investment - The fund primarily invests in component securities that form part of its underlying index. This investment approach targets securities that offer stable returns and align with the fund's objective of tracking the U.S. bond market's performance, including both investment-grade and high-yield bonds.
To-Be-Announced (TBA) Transactions - Alongside direct component securities, the fund allocates a significant portion of its assets in TBAs. TBAs are forward contracts on mortgage-backed securities, providing the fund with the flexibility to adjust its portfolio efficiently and react to market movements, which underpins its strategy to maintain alignment with the underlying index's economic characteristics.
