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iShares $ Treasury Bond 7-10yr UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE00B1FZS798Ticker: IBTM (Borsa Italiana) · IUSM (Xetra) · IBTM (London SE) · BTMA (Euronext AMS) · IBTM (SIX)Issuer: iShares
Issuer-declared data
TER
0.07%
Transaction costs
0.01% (issuer estimate, from the KID)
Management
Passive (index-tracking)
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
3.2 bn EUR
NAV
168.44 USD (1 September 2026)
Domicile
Ireland
Inception date
8 December 2006
Data as declared by iShares in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

iShares $ Treasury Bond 7-10yr UCITS ETF tracks the issuer-declared index: ICE U.S. Treasury 7-10 Year Bond Index. The declared annual cost (TER) is 0.07%, plus 0.01% in transaction costs estimated by the issuer in the KID. Replication is optimised physical replication (the KID declares optimisation techniques to achieve a return similar to the index); income is distributed to investors. The fund has assets of about 3.2 billion euro, was launched on 8 December 2006 and is domiciled in Ireland. In our registry 1 other ETFs declare the same index.

The fund’s objective — in the issuer’s words

The Share Class is a share class of a Fund which aims to achieve a return on your investment, through a combination of capital growth and income on the Funds assets, which reflects the return of the ICE U.S. Treasury 7-10 Year Bond Index, the Funds benchmark index (Index). The Share Class, via the Fund is passively managed and aims to invest so far as possible and practicable in the fixed income (FI) securities (such as bonds) that make up the Index and comply with its credit rating requirements. If the credit ratings of the FI securities are downgraded, the Fund may continue to hold them until they cease to form part of the Index and it is practicable to sell them. The Index offers exposure to US government bonds with a remaining maturity (i.e. the time from issue until they become due for repayment) from 7 to 10 years and a minimum amount outstanding of $300 million at the time of inclusion in the Index. The bonds will, at the time of inclusion in the Index, be investment grade (i.e. meet a specified level of creditworthiness). The Fund uses optimising techniques to achieve a similar return to the Index. These may include the strategic selection of certain securities that make up the Index or other FI securities which provide similar performance to certain constituent securities. These may also include the use of financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). FDIs may be used for direct investment purposes. The Fund may also engage in short-term secured lending of its investments to certain eligible third parties to generate additional income to off-set the costs of the Fund.

Keep reading the KID section ▾

The price of fixed income securities may be affected by changing interest rates which in turn may affect the value of your investment. Fixed income securities prices move inversely to interest rates. Therefore, the market value of fixed income securities may decrease as interest rates increase. The credit rating of an issuing entity will generally affect the yield that can be earned on fixed income securities; the better the credit rating the smaller the yield. The relationship between the return on your investment, how it is impacted and the period for which you hold your investment is considered below (see “How long should I hold it and can I take my money out early?”).

The depositary of the Fund is The Bank of New York Mellon SA/NV, Dublin Branch. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the iShares II plc. These documents are available free of charge in English and certain other languages. These can be found, along with other (practical) information, including prices of units, on the iShares website at: www.ishares.com or by calling +49 89427295800 or from your broker or financial adviser.

Your shares will be distributing shares (i.e. income will be paid on the shares semi-annually). Your shares will be denominated in US Dollar, the Fund's base currency. The shares are listed and traded on various stock exchanges. In normal circumstances, only authorised participants may buy and sell shares directly with the Fund. Investors who are not authorised participants (e.g. select financial institutions) can generally only buy or sell the shares on the secondary market (e.g. via a broker on a stock exchange) at the then prevailing market price. The value of the shares are related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The prevailing market price at which the shares trade on the secondary market may deviate from the value of the Shares. Indicative net asset value is published on relevant stock exchanges websites.

Intended retail investor:The Fund is intended for retail investors with the ability to bear losses up to the amount invested in the Fund (see “How long should I hold it and can I take my money out early?”).

Insurance benefits:The Fund does not offer any insurance benefits.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.07%: below the median of bond ETFs we track (0.15%).
  • Assets larger than 95% of bond ETFs we track.
  • Average tracking difference over the last 3 years: +0.15% p.a., against a declared TER of 0.07%.
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Dec 2006 to Aug 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+84.5%
Annualised
+3.2%
Volatility (ann.)
6.8%
Max drawdown
-23.64%
-5%+24%+54%+84%+114%Dec 2006Nov 2011Sept 2016Sept 2021Aug 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+85%Dec 2006Aug 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-5%-10%-15%-20%-25%-30%2006200920122015201820212024−23.64% · 19 Oct 2023
Max drawdown
-23.64%
peak → trough
Trough
19 Oct 2023
from the 04 Aug 2020 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
2,218 days
decline + recovery: peak to break-even · ≈ 6 years and 1 month · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
04 Aug 202019 Oct 2023-23.64%ongoing2,218
18 Dec 200810 Jun 2009-11.08%29 Jun 2010558
02 May 201305 Sept 2013-8.91%15 Oct 2014531
08 Jul 201617 May 2018-8.75%23 May 20191,049
11 Oct 201008 Feb 2011-8.08%29 Jul 2011291

Calendar-year returns

2016
0.9%
2017
2.5%
2018
0.8%
2019
8.5%
2020
10.0%
2021
-3.2%
2022
-15.1%
2023
3.7%
2024
-0.5%
2025
8.3%
2026
-1.2%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
2026-0.22.5-2.3-0.1-0.00.3-1.40.1-1.2
20250.72.80.31.0-1.21.6-0.51.60.70.71.0-0.78.3
20240.0-2.00.7-3.11.81.32.91.41.3-3.31.0-2.2-0.5
20233.5-3.23.70.9-1.5-1.3-0.6-0.7-3.1-1.94.53.93.7
2022-2.2-0.4-4.0-4.20.7-1.03.0-3.8-4.7-1.53.6-1.4-15.1
2021-1.2-2.8-1.91.00.41.12.0-0.4-1.6-0.51.1-0.4-3.2
20203.23.13.60.60.10.10.9-0.80.3-1.30.3-0.310.0
20190.7-0.42.5-0.53.01.4-0.14.0-1.10.2-0.6-0.78.5
2018-2.2-0.91.3-1.31.10.0-0.61.1-1.3-0.41.42.70.8
20170.10.80.11.10.9-0.60.41.5-1.4-0.2-0.30.22.5
20163.11.5-0.0-0.1-0.13.00.3-0.80.0-1.5-4.0-0.20.9
20154.0-2.30.9-0.6-0.2-1.61.20.21.5-0.6-0.4-0.31.6
20142.60.5-0.60.81.9-0.3-0.31.8-1.11.61.30.18.7
2013-1.31.10.41.4-3.2-2.5-0.4-1.11.60.9-0.9-1.9-5.8
20120.9-1.0-1.62.52.7-0.41.3-0.1-0.2-0.31.0-1.13.6
2011-0.0-0.2-0.01.62.6-0.43.04.81.8-1.41.01.715.2
20102.20.6-1.31.62.83.11.13.30.1-0.1-0.9-3.59.3
2009-3.9-1.03.3-2.9-2.3-0.40.60.91.1-0.12.0-4.3-7.0
20083.41.41.4-2.3-2.11.00.61.7-0.0-0.78.15.318.7
2007-0.42.2-0.20.6-1.5-0.52.22.30.31.13.90.110.2
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
Source: iShares. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 3 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
+0.15% /anno
Declared TER
0.07%
YearFundIndexDifference
2025+8.27%+8.19%+0.08%
2024-0.50%-0.52%+0.02%
2023+3.72%+3.37%+0.35%
2022-15.08%-14.80%-0.28%
2021-3.19%-3.19%+-0.00%
2020+9.97%+10.00%-0.03%
2019+8.45%+8.49%-0.04%
2018+0.81%+0.90%-0.09%
2017+2.47%+2.57%-0.10%
2016+0.93%+0.99%-0.06%
Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsLast 10 yearsFull history
Volatility (ann.)7.67%8.97%10.77%9.73%11.46%
Max drawdown-6.74%-13.60%-23.69%-30.74%-30.74%
Sharpe-0.66-0.65-0.58-0.320.05
Sortino-0.84-0.85-0.80-0.450.07
Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.20%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Duration and maturities

Duration · effective duration
6.83years

Price sensitivity to rates: the longer, the more the fund moves. What is duration →

Maturity breakdown (% of fund)
5–7 years
5.19%
7–10 years
93.72%
Cash and derivatives
1.09%

Source: product page iShares, data as of 20 August 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Credit rating

How the portfolio is spread by credit quality: from AAA (strongest) downwards. More weight in the top buckets = lower risk that an issuer fails to pay, usually with lower yields.

Rating breakdown (% of fund)
AA
98.91%
Cash and derivatives
1.09%

Source: product page iShares, data as of 20 August 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Ratings are those the issuer assigns to portfolio holdings under its own methodology (usually the median of S&P, Moody’s and Fitch); scale and buckets are those of the original document.

Portfolio holdings

Securities in portfolio
13
19 total lines: 6 cash & derivatives
Top-10 weight
88.8%

Top 10 holdings

TREASURY NOTE · TNOTE
9.44%
TREASURY NOTE · TNOTE
9.31%
TREASURY NOTE · TNOTE
9.28%
TREASURY NOTE · TNOTE
8.98%
TREASURY NOTE · TNOTE
8.92%
TREASURY NOTE · TNOTE
8.71%
TREASURY NOTE · TNOTE
8.63%
TREASURY NOTE (2OLD) · TNOTE
8.61%
TREASURY NOTE (OLD) · TNOTE
8.54%
TREASURY NOTE · TNOTE
8.42%

Sectors

Treasury
99.9%
Cash and/or Derivatives
0.1%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermanyDjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIrelandIranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 100%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States100%
⬇ Download the full portfolio — Excel, 19 rows
Full portfolio declared by iShares, as of 31 August 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Dividends

Latest dividend
3.66 USD
ex 21 May 2026 · paid 29 May 2026
Dividends, last 12 months
7.37 USD
Dividend yield
4.37%
12-month sum over the NAV as of 2 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year7.37 USD4.21 %
20257.23 USD4.30 %
20246.73 USD3.83 %
20235.43 USD3.10 %
20223.41 USD1.62 %
20212.44 USD1.11 %

Dividend contribution to total return

-20%-10%0%10%+0.53 %1 year+8.15 %2025−0.52 %2024+3.62 %2023−15.04 %2022−3.21 %2021
dividendsprice changeprice decline

Calendar per share (USD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20263.66
20253.523.71
20243.213.52
20232.552.88
20221.412.00
20211.191.25
20202.001.42
20192.532.47
20182.142.45
20171.841.95
20161.971.80
20152.051.93
20142.022.32
20131.611.77
20121.761.68
20112.392.28
20102.610.801.70
20092.632.43
20083.182.46
20072.413.05

Latest dividends

Per shareEx-dividend dateRecord datePayment
3.66 USD21 May 202622 May 202629 May 2026
3.71 USD13 Nov 202514 Nov 202526 Nov 2025
3.52 USD15 May 202516 May 202529 May 2025
3.52 USD14 Nov 202415 Nov 202427 Nov 2024
3.21 USD16 May 202417 May 202430 May 2024
2.88 USD16 Nov 202317 Nov 202329 Nov 2023
2.55 USD19 May 202322 May 202330 May 2023
2.00 USD17 Nov 202218 Nov 202230 Nov 2022
Per-share dividends as declared by the issuer, in USD, since the first payment (25 Apr 2007). Past dividends are not indicative of future ones.

Share classes of the same fund

This page covers ISIN IE00B1FZS798. The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
EUR Hedged (Acc)IE000K1VI152CEMFAccumulatingEUR
GBP Hedged (Acc)IE000R4RN8C3IGTAAccumulatingGBP
USD (Dist) · this pageIE00B1FZS798IBTMDistributingUSD
GBP Hedged (Dist)IE00BGPP6580IGTMDistributingGBP
EUR Hedged (Dist)IE00BGPP6697IBB1DistributingEUR
MXN Hedged (Acc)IE00BMWB9294IDTXXAccumulatingMXN
USD (Acc)IE00BYVQ9G36IB7AAccumulatingUSD
Share classes declared by the issuer in official product lists (same fund = same issuer and same declared name). A dash “—” = not declared — not a zero.

Index tracked

ICE U.S. Treasury 7-10 Year Bond Index
This fund belongs to the government bonds family: compare all census ETFs in this family →

ETFs declaring the same index

FundTERIncomeFund size
CBU0 · iSharesnot on Borsa Italiana
0.07%Acc.4.3 mld EUR
2 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

Italian taxation

Effective rate on capital gains
13.29%
White-list share
94.13%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE00B1FZS798IBTM(class: USD (Dist))
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)IBTM3 Nov 2008
Börse DüsseldorfIUSM8 Jun 2016
Börse FrankfurtIUSM8 Jun 2016
Börse HamburgIUSM8 Jun 2016
Börse HannoverIUSM21 Dec 2022
Börse München / gettexIUSM8 Jun 2016
Börse StuttgartIUSM8 Jun 2016
Euronext AmsterdamBTMA21 Nov 2008
Tradegate ExchangeIUSM8 Jun 2016
Xetra (Deutsche Börse)IUSM8 Jun 2016
+ 16 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does iShares $ Treasury Bond 7-10yr UCITS ETF track?
The issuer iShares declares the benchmark: ICE U.S. Treasury 7-10 Year Bond Index.
How much does IBTM cost?
The issuer-declared TER is 0.07% per year; the transaction costs estimated in the KID are 0.01%.
How is IBTM taxed in Italy?
On sale, the capital gain is taxed at an effective 13.29% rate (white-list share 94.13%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of IBTM?
The fund size declared by iShares is about 3.2 billion euro.
When was IBTM launched?
The fund was launched on 8 December 2006: it has 19 years of history.
How does IBTM replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (optimised) (issuer wording: “Fisica - ottimizzazione (dal KID)”).
Does IBTM pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distributing”).
Where does IBTM trade?
Per the official ESMA register it trades on 10 main exchanges, including Borsa Italiana (ETFplus) (IBTM), Börse Düsseldorf (IUSM), Börse Frankfurt (IUSM), Börse Hamburg (IUSM), Börse Hannover (IUSM), Börse München / gettex (IUSM).
What was IBTM's worst fall?
Over the available history (since 2006), the maximum drawdown was -27.46%, reached in October 2023. Past performance is not indicative of future results.
What is IBTM's tracking difference?
Over the last 3 complete calendar years the fund returned on average +0.15% per year versus its index (from issuer-declared series).
How many securities does IBTM hold?
The declared portfolio holds 13 securities (plus 6 cash & derivative lines); the top 10 positions weigh 88.8%.
Transparency note
The data in this sheet is declared by iShares in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.