The iShares $ Corp Bond UCITS ETF USD (Acc) (LQDA) is an Ireland-domiciled fixed-income ETF managed by BlackRock and traded on the London Stock Exchange. The fund seeks to track the performance of the iBoxx USD Liquid Investment Grade Index, a benchmark composed of U.S. dollar-denominated investment-grade corporate bonds.

LQDA provides exposure to the U.S. dollar-denominated corporate credit market, covering bonds issued by companies across different sectors. The ETF follows a passive investment strategy and uses physical replication through a sampling methodology to track its benchmark. It operates under the UCITS framework and follows an accumulating income policy.

The iBoxx USD Liquid Investment Grade Index includes U.S. dollar-denominated corporate bonds with investment-grade credit ratings. Its methodology applies eligibility requirements related to factors such as credit quality, issue size, maturity, and liquidity. The benchmark is market-value weighted and rebalanced monthly.

Composition / Exposure Profile

LQDA primarily provides exposure to:

• Investment-grade corporate bonds.

• Debt issued by financial institutions.

• U.S. dollar-denominated corporate bonds.

• Securities issued by industrial and utility companies.

• Fixed-income securities from eligible issuers across different markets.

Although all eligible securities are denominated in U.S. dollars, issuers are not necessarily limited to the United States. The fund can therefore provide exposure to both U.S. and international companies accessing the U.S. dollar-denominated credit market.

The portfolio is diversified across different issuers, sectors, and maturities. As an investment-grade corporate credit strategy, its performance is influenced by factors such as interest rates, credit spreads, and changes in the perceived creditworthiness of issuers.

Structure and Costs

LQDA has the U.S. dollar as both its fund base currency and share class currency. The strategy is also available through other share classes, including a USD distributing version and currency-hedged classes.

The ETF has a total expense ratio (TER) of 0.20% per year and uses a physical structure with a sampling methodology. It is domiciled in Ireland, operates under the UCITS framework, is part of iShares plc, and is managed by BlackRock Asset Management Ireland Limited.

LQDA is an accumulating share class, meaning interest and other income generated by its holdings are reinvested within the fund rather than distributed periodically to shareholders.

History and Evolution of the ETF

The iShares $ Corp Bond UCITS ETF USD (Acc) (LQDA) was launched in 2017 as the accumulating share class of BlackRock's U.S. dollar-denominated investment-grade corporate bond strategy.

Since its launch, LQDA has maintained a passive strategy linked to the iBoxx USD Liquid Investment Grade Index, providing diversified exposure to the U.S. dollar-denominated corporate credit market.

Throughout its history, the fund's performance has reflected conditions in the corporate fixed-income market, including changes in U.S. interest rates, credit spreads, and the perceived creditworthiness of investment-grade issuers.

Additional Information

iShares $ Corp Bond UCITS ETF USD (Acc) (Ireland) is an exchange-traded fund (ETF), with assets under management totaling $3.92 billion.

Over the past 12 months, iShares $ Corp Bond UCITS ETF USD (Acc) recorded a return of -4.29%, with its price trading between $6.01 and $6.41 during the same period.

The ETF is traded under the ticker LQDA.