IBMU – iShares iBonds Dec 2032 Term Muni Bd ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to track the investment results of S&P AMT-Free Municipal Series Callable-Adjusted 2032 IndexTM composed of investment-grade U.S. municipal bonds expected to mature or be redeemed before December 2, 2032. The fund will invest at least 80% of its assets in the component securities of the underlying index, and the it will invest at least 90% of its assets in fixed income securities of the types included in the underlying index that BFA believes will help the fund track the underlying index, in each case except during the last months of the fund's operations. It is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
IBMU	iShares iBonds Dec 2032 Term Muni Bond ETF	ETF	Open	—	—	Mar 25, 2026	$30.97M	0.100%	—	—	—

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