iShares U.S. Fixed Income Balanced Risk Systematic ETF(CBOE:FIBR)

FIBR attempts to provide risk-adjusted returns by tracking an index that roughly provides equal duration and credit spread exposure, which in turn, could lessen interest rate risk and credit risk. In theory, FIBR should perform well in most interest rate and credit environments. The fund will do poorly when rates rise and credit spreads widen simultaneously, but this is an uncommon occurrence. The index applies an equal volatility-weighted allocation to the Barclays U.S. Universal Index, overweighting securities with lower credit spread volatility. Aside from Treasurys and Treasury futures (including possible short positions), FIBR has exposure to MBS, short- and intermediate-term investment-grade bonds, and high-yield securities. The duration-hedged overlay further equalizes the funds interest rate risk and credit risk. FIBR undergoes monthly rebalancing. Prior to Jan. 26, 2024, the fund was called iShares U.S. Fixed Income Balanced Risk Factor ETF.