MM is bullish towards US 10’s (negative bearish yields)
iShares 7-10 Year Treasury Bond ETF (IEF US)
IEF US$91.80
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Performance
Share price activity
- Last (Price)
- 91.80
- Change
- ▼ -0.06 (-0.07)
- Bid / Ask
- 91.01 - 91.91
- Volume
- 1,450,510
- Turnover
- 88,885,844
- Open
- 92.01
- Day Range
- 91.69 - 92.02
- VWAP
- 91.81
- Prev Close
- 91.86
- Last Trade
- 10/11 4:00pm
Fund profile
Fund size
$44.64B
NOV 2026
Distributions
Monthly
Since inception
24.3 yrs
JUL 2002
- Legal name
- iShares 7-10 Year Treasury Bond ETF
- Issuer
- iShares
- Type
- Exchange-Traded Fund
- Structure
- Open Ended Investment Company
- Management style
- Index fund
- Morningstar category
- Long Government
- Category index
- Bloomberg US Government Long TR USD
- Benchmark
- ICE BofA US Broad Market TR USD
- ETF net assets
- $44.64B
- Units on issue
- 486.2M
- Management fee
- 0.15% p.a.
- Domicile
- United States
- Base currency
- USD
- Inception
- 22 JUL 2002
- Listed
- 2 AUG 2017
- Index provider
- ICE Data Indices
Objective and strategy
The investment seeks to track the investment results of the ICE® U.S. Treasury 7-10 Year Bond Index. The underlying index consists of publicly-issued U.S. Treasury securities that have a remaining maturity of greater than or equal to seven years and less than ten years and have $300 million or more of outstanding face value, excluding amounts held by the Federal Reserve System (the “Fed”). The fund will invest at least 80% of its assets in the component securities of the underlying index, and the fund will invest at least 90% of its assets in U.S. Treasury securities that BFA believes will help the fund track the underlying index.
Asset allocation
US equity 0.00%Non-US equity 0.00%
| Asset class | Net % | Long % | Short % |
|---|---|---|---|
| Equity | 0.00 | 0.00 | 0.00 |
| Bond | 99.93 | 99.93 | 0.00 |
| Cash | 0.07 | 0.07 | 0.00 |
| Other | 0.00 | 0.00 | 0.00 |
Portfolio statistics · 5 NOV 2026
- Assets in top 10
- 85.89%
Top holdings · top 10 = 85.59% of assets
| Holding | % Weight | First bought | Market value | Currency | Units held | Sector | Country | |
|---|---|---|---|---|---|---|---|---|
| United States Treasury Notes 4.625% | 8.82 | — | 3.90B | USD | 3.92B | — | United States | |
| United States Treasury Notes 4.25% | 8.80 | — | 3.89B | USD | 3.97B | — | United States | |
| United States Treasury Notes 4.25% | 8.74 | — | 3.86B | USD | 3.96B | — | United States | |
| United States Treasury Notes 4% | 8.68 | — | 3.84B | USD | 4.02B | — | United States | |
| United States Treasury Notes 4.375% | 8.67 | — | 3.83B | USD | 3.91B | — | United States | |
| United States Treasury Notes 4.125% | 8.65 | — | 3.82B | USD | 4.02B | — | United States | |
| United States Treasury Notes 4.375% | 8.49 | — | 3.75B | USD | 3.78B | — | United States | |
| United States Treasury Notes 4% | 8.40 | — | 3.71B | USD | 3.87B | — | United States | |
| United States Treasury Notes 4.25% | 8.32 | — | 3.68B | USD | 3.82B | — | United States | |
| United States Treasury Notes 3.875% | 8.01 | — | 3.54B | USD | 3.74B | — | United States |
Trailing returns · 31 OCT 2026
Fund (NAV) Market price
1M
3.0
3M
-0.3
6M
-1.5
YTD
-1.7
1Y
-1.5
3Y
4.6
5Y
-1.4
10Y
0.5
| Period | Fund (NAV) % | Market price % | Before fees % | Rank in category |
|---|---|---|---|---|
| 1 month | 3.03 | 3.10 | 3.04 | 14 / 64 |
| 3 months | -0.26 | -0.24 | -0.23 | 9 / 64 |
| 6 months | -1.46 | -1.40 | -1.38 | 10 / 63 |
| Year to date | -1.70 | -1.68 | -1.58 | 10 / 63 |
| 1 year | -1.48 | -1.46 | -1.33 | 8 / 62 |
| 3 years p.a. | 4.61 | 4.62 | 4.77 | 8 / 55 |
| 5 years p.a. | -1.37 | -1.37 | -1.23 | 7 / 40 |
| 10 years p.a. | 0.55 | 0.55 | 0.70 | 1 / 31 |
Returns to 31 OCT 2026, periods of 3 years and longer annualised. Rank is the percentile in the Morningstar category at 30 SEP 2026 (1 = best) over the funds ranked.
Calendar year returns
Total Capital
2016
1.0
2017
2.5
2018
0.8
2019
8.4
2020
9.8
2021
-3.3
2022
-15.2
2023
3.6
2024
-0.6
2025
8.1
| Year | Total % | Capital % | Rank in category |
|---|---|---|---|
| 2025 | 8.05 | 4.06 | 12 / 60 |
| 2024 | -0.61 | -4.15 | 7 / 49 |
| 2023 | 3.58 | 0.61 | 32 / 45 |
| 2022 | -15.23 | -16.87 | 1 / 35 |
| 2021 | -3.27 | -4.07 | 5 / 34 |
| 2020 | 9.84 | 8.66 | 100 / 32 |
| 2019 | 8.38 | 6.16 | 95 / 32 |
| 2018 | 0.82 | -1.41 | 1 / 31 |
| 2017 | 2.47 | 0.62 | 100 / 32 |
| 2016 | 1.00 | -0.81 | 73 / 34 |
| 2015 | 1.55 | -0.36 | 16 / 34 |
Risk statistics · 31 OCT 2026
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Alpha | -0.29 | -0.91 | -0.50 | -0.62 |
| Beta | 1.28 | 1.17 | 1.16 | 1.21 |
| R-squared | 97.25 | 96.95 | 96.52 | 88.90 |
| Standard deviation | 6.20 | 6.66 | 7.74 | 6.62 |
| Sharpe ratio | -0.83 | 0.04 | -0.67 | -0.27 |
| Sortino ratio | -1.03 | 0.05 | -0.81 | -0.36 |
| Tracking error | 1.68 | 1.49 | 1.78 | 2.44 |
| Information ratio | -0.84 | -0.56 | -0.69 | -0.37 |
| Upside capture % | 110.10 | 109.02 | 113.21 | 113.92 |
| Downside capture % | 133.66 | 133.69 | 126.24 | 132.00 |
| Maximum drawdown % | -6.60 | -6.60 | -19.13 | -22.81 |
Measured against Bloomberg US Agg Bond TR USD with USTREAS T-Bill Auction Ave 3 Mon as the risk-free rate, to 31 OCT 2026. Maximum drawdown is on gross returns at the latest quarter end.
Portfolio risk score
Risk score
24.4
Morningstar Portfolio Risk Score at 30 SEP 2026.
- Tracking volatility
- 0.076
- Est. holding cost %
- 0.111
- Market impact cost %
- 0.000
- Best quarter
- 10.31% · MAR 2020
- Worst quarter
- -9.74% · OCT 2022
Fees and costs
- Management fees and costs
- 0.15% p.a.
- Performance fee
- No
- PDS dated
- 29 JUN 2026
Distributions
- Latest distribution
- 0.3115
- Ex Date
- 2 NOV 2026
- Record Date
- 2 NOV 2026
- Pay Date
- 5 NOV 2026
- NAV at ex date
- 91.48
- Paid this year
- 3.1206
Distributions by year
2024
3.6
2023
3.3
2022
2.8
2021
1.9
2020
1.0
2019
1.3
2018
2.3
2017
2.3
2016
1.9
2015
1.9
| Year | Per unit ($) |
|---|---|
| 2024 | 3.6245 |
| 2023 | 3.3477 |
| 2022 | 2.8080 |
| 2021 | 1.8786 |
| 2020 | 0.9587 |
| 2019 | 1.2932 |
| 2018 | 2.2925 |
| 2017 | 2.3361 |
| 2016 | 1.9207 |
| 2015 | 1.8985 |
Distribution history
| Ex Date | Per unit ($) |
|---|---|
| 2 NOV 2026 | 0.3115 |
| 1 OCT 2026 | 0.3069 |
| 1 SEP 2026 | 0.3320 |
| 3 AUG 2026 | 0.3175 |
| 1 JUL 2026 | 0.3111 |
| 1 JUN 2026 | 0.3172 |
| 1 MAY 2026 | 0.3125 |
| 1 APR 2026 | 0.3172 |
| 2 MAR 2026 | 0.2828 |
| 2 FEB 2026 | 0.3120 |
| 19 DEC 2025 | 0.3127 |
| 1 DEC 2025 | 0.2884 |
Sustainability rating · 31 AUG 2026
Average
Carbon · 31 AUG 2026
- Category average
- 6.31%
Fund managers
- James J. Mauro
- Jonathan Graves
- Marcus Tom
Tenure
- Number of managers
- 3
- Average tenure
- 5.9 years
- Longest tenure
- 15.3 years
- Longest serving
- James J. Mauro · since 1 JUL 2011
- Most recent appointment
- Jonathan Graves, Marcus Tom · since 1 AUG 2025
- Managed since
- 1 JUL 2011
- Other funds managed
- 158
Announcements
Announcements are available for ASX-listed companies only.
Opinion
No opinions for this company yet.
Action
MM is neutral toward US 10-year bond yield
MM is cautiously bullish toward the US and Australian 10’s (yields lower) through 2026/7.