BlackRock’s ETF unit iShares on Wednesday launched more bond funds with defined maturities designed to address investor fears over rising interest rates.

The firm listed four new ETFs that track corporate bonds: iSharesBond 2016 Corporate Term ETF (NYSEArca: IBDA), iSharesBond 2018 Corporate Term ETF (NYSEArca: IBDB), iSharesBond 2020 Corporate Term ETF (NYSEArca: IBDC) and iSharesBond 2023 Corporate Term ETF (NYSEArca: IBDD).

The ETFs have maturity dates like individual bonds.

The funds give investors “an entirely new way to access the bond market, one that combines the benefits of both individual bonds and traditional ETFs,” said Matthew Tucker, head of iShares fixed income investment strategy. “We expect the funds to be used by any investor who would use individual bonds, for building diversified portfolios, managing interest rate risk, and constructing bond ladders.”

Currently, investors can select from a range of maturity-date bond ETFs from iShares, Guggenheim Investments and db X-trackers that cover investment-grade corporates, junk and municipal bonds. The ETFs close at a targeted maturity date and pay out their net asset value to investors. The ETFs combine features of mutual funds and individual bonds. [Target-Maturity Bond ETFs to Hedge Against Rising Rates]

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