Update: iShares $ Treasury Bond 1-3yr UCITS ETF

US-Kurzläufer liefern Anleger etwas mehr Rendite als vergleichbare Bundesanleihen, begrenzen Verluste bei Zinssteigerungen und könnten bei einer Ausweitung der Zinsdifferenz auch auf der Währungsseite profitieren.

Jose Garcia Zarate 26.08.2016

Rolle im Portfolio

The iShares $ Treasury Bond 1-3yr UCITS ETF offers investors exposure to the performance of the short-dated maturity segment of the US government-bond market. This exchange-traded fund can work as part of an investment portfolio with a US geographical bias or as a complement to non-US fixed-income holdings. This is a US-dollar-denominated product, so foreign-exchange considerations have to be factored in.

The ETF’s short-dated maturity bias, the high liquidity of the underlying market, and the perceived near-zero chance of a US sovereign default make this ETF a low-risk proposition to equitise US-dollar cash holdings in investment portfolios. However, investors using this ETF for such purpose should pay attention to the potential for capital losses arising from exposure to interest-rate risk. 

This ETF can also play a tactical role as a satellite holding to manage interest risk exposure of fixed-income holdings--preferably US-centric--within an investment portfolio. The ETF's focus on the short-dated segment of the curve allows for duration-shortening plays at times of rising interest rates. This would be perhaps better suited for investors with an ability to comprehensively monitor economic developments and their implications for US monetary policy.

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Über den Autor

Jose Garcia Zarate  ist Senior ETF Analyst bei Morningstar

Audience Bestätigung


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