What Is the IBMQ ETF? A Complete Guide to Returns, Fees, Holdings and Alternative ETFs
The iShares iBonds 2028 Term Muni Bond ETF is a passive, target-maturity product that invests in investment-grade municipal bonds maturing in 2028, aiming to deliver tax benefits and income. Fees, maturity structure and credit quality are the key items to check, comparison with broad municipal bond ETFs is the main selection criterion, and the trading ticker is IBMQ.
SubscribeWhat Is the iShares iBonds 2028 Term Muni Bond ETF?
It is a passive, target-maturity bond ETF that tracks an index of federally tax-exempt, investment-grade US municipal bonds expected to mature in 2028. It has a defined maturity date.
It suits conservative taxable investors who want tax benefits and plan to hold until the defined maturity to manage interest rate risk.
It is a passive (index-tracking) ETF managed by iShares.
How Does the iShares iBonds 2028 Term Muni Bond ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | 2028 Maturity Municipal Bond Index |
| Management Style | Passive (target maturity) |
| Rebalancing Frequency | Periodic (index rules) |
| Distribution Frequency | Monthly |
| Total Expense Ratio | 0.10% |
It tracks an index of federally tax-exempt, investment-grade municipal bonds expected to mature in 2028. Unlike typical bond funds that keep rolling over their maturities, it has a defined maturity like an individual bond, and at maturity it liquidates the remaining assets and returns them to investors.
- A structure with a defined maturity, like an individual bond
- Well suited to building a bond ladder and managing interest rate risk
iShares iBonds 2028 Term Muni Bond ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) are $690.3M, and the total expense ratio (Expense Ratio) is 0.10% per year.
Unlike general municipal bond ETFs, it has a defined maturity, so its cash flows are easier to anticipate if held to maturity, and price swings caused by interest rate changes shrink as maturity approaches.
iShares iBonds 2028 Term Muni Bond ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeMunicipal bonds are affected by the direction of interest rates and local government finances. As maturity approaches, duration shortens and price swings from interest rate changes tend to diminish gradually, and the target-maturity structure makes the path over the holding period easier to anticipate.
Money tends to flow into target-maturity municipal bond ETFs among taxable investors who want after-tax income and a defined maturity, and fund flows vary with demand for building bond ladders.
iShares iBonds 2028 Term Muni Bond ETF Pros and Cons
Its strengths are tax benefits and a defined maturity that makes interest rate risk easier to manage, while liquidation at maturity and credit risk are the drawbacks.
💪 Key Strengths
⚠️ Points to Watch
iShares iBonds 2028 Term Muni Bond ETF Alternative ETFs and Related Products
MUB, VTEB, JMUB and others shown in the table are broad municipal bond ETFs that keep rolling over their maturities and have no target-maturity structure. For more municipal bond exposure, you can also compare the short-term municipal bond ETF SUB and target-maturity municipal bond ETFs with other maturities such as IBMP and IBMR. They differ in maturity structure, duration and fees, so it is best to choose according to your investment goals.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 MUB | iShares National Muni Bond ETF | $104.18 | +0.3% | $54.3B | 0.05% | 3.28% | -3.0% |
 VTEB | Vanguard Tax-Exempt Bond ETF | $48.88 | +0.4% | $53.0B | 0.03% | 3.48% | -3.2% |
 JMUB | JPMorgan Municipal ETF | $49.09 | +0.3% | $9.0B | 0.18% | 3.49% | -3.0% |
 CGMU | Capital Group Municipal Income ETF | $26.72 | +0.0% | $7.5B | 0.27% | 3.42% | -2.7% |
 CMF | iShares California Muni Bond ETF | $55.80 | +0.3% | $5.4B | 0.08% | 3.02% | -3.0% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 NJR | New Jersey Resources Corp | 0.02% | $53.21 | +0.2% | $5.4B | 14.7 | 3.63% |
 NYT | New York Times Co | 0.01% | $70.17 | +1.1% | $11.3B | 29.3 | 1.28% |
iShares iBonds 2028 Term Muni Bond ETF Investor Checkpoints
These are the points to review before investing in IBMQ. As a target-maturity municipal bond ETF, it is important to check the maturity structure, credit quality, tax benefits and reinvestment plan in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the fees of the passive municipal bond ETF | On the low side |
| 📅 Maturity Structure | Check the defined maturity and liquidation date | Target maturity |
| 🏦 Credit Quality | Check the weighting of investment-grade municipal bonds | Mainly investment grade |
| 🔄 Reinvestment | Check the reinvestment plan after liquidation at maturity | Needs confirmation |
Because the assets are liquidated at maturity, you need to plan for reinvestment after maturity, and the fund is exposed to deteriorating finances of the issuing local governments. You should also consider that prices may temporarily decline when interest rates rise before maturity.
It is a target-maturity ETF suited to conservative taxable investors who want tax benefits and plan to hold until the defined maturity to manage interest rate risk. If you want ongoing exposure without a maturity date, a broad municipal bond ETF may be the alternative, and if you want a defined maturity, IBMQ may be the choice.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 4, 2026.
Today's 5 AI picks, all free