Two iShares fixed income exchange traded funds will transition to new indices on Tuesday.
The iShares Core Short-Term U.S. Bond ETF (NYSEArca: ISTB) will track the Barclays US 1-5yr Universal Index while the iShares Core Long-Term US Bond ETF (NYSEArca: ILTB). The index changes were announced in March.
“The changes are being implemented in order to expand the funds’ diversification,” said iShares in a statement.
ISTB holds “dollar-denominated government, government-related and investment-grade U.S. corporate bonds with remaining maturities between one and five years,” according to iShares.
The ETF, which debuted in October 2012 as part of the iShares core suite of ETFs, has $135.6 million in assets under management.