IBMP's largest holdings are BlackRock Liquidity Funds MuniCash, Michigan (State of) (Garvee), California (State of), University of California, SCAGO Educational Facilities Corp. for Pickens School District. The full top list is on this page.

How concentrated is IBMP?

The top 10 holdings are 3.9% of the fund, across 1,848 positions.

The total expense ratio on record is 0.18%. That is cheaper than 65% of the 864 US-listed bond funds we track.

US-listed · United States

IBMP

The Fund seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds expected to mature or be redeemed before December 2, 2027.

iShares iBonds Dec 2027 Term Muni Bond ETF

US46435U2832 · BlackRock (iShares)

1,848 holdings as of 2026-08-27 · top 10 = 3.9% · TER 0.18%

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Concentration

Well diversifiedtop 10 = 3.9%

diversifiedconcentrated

GROWTH · PRICE DEVELOPMENTrebased to 0%

Holdings

1,848

as of 2026-08-27

Top 10

3.9%

TER

0.18%

cheaper than 65% of peers

Net assets

US$664M

reported in USD

Largest

0.6%

P / E

–

Sections

Holdings as of 2026-08-27.

01Overview

the fund's regulatory facts

Fund currency

USD

Domicile

United States

Volatility 1Y

1.3%

Tracked index

S&P AMT-Free Municipal Series Callable-Adjusted Dec 2027 Index

How it tracks

Index, sampling

02Performance

market price return · as of 2026-09-02

-0.2%

-0.1%

-0.5%

YTD

-0.3%

-0.4%

Trackingfund minus S&P AMT-Free Municipal Series Callable-Adjusted Dec 2027 Index · annualised

1Y return gap

-0.25 pp/yr

3Y return gap

-0.21 pp/yr

5Y return gap

-0.10 pp/yr

3Y tracking error

0.10%

A positive return gap means the fund finished ahead of the index over that window. The 3Y tracking error shows how variable that monthly gap was; lower means steadier tracking. MethodologyReturn gap and tracking errorReturn gap is the fund's return minus its index over the same months, converted to a yearly rate. Tracking error is the annualised standard deviation of those monthly fund-minus-index returns. Both lines come from the manager's own chart, in the same currency and the exact index variant the fund tracks. We use month-end values so different intraday valuation times are not mistaken for tracking error.. Not investment advice.

03Holdings

50 largest · as of 2026-08-27

#	Company	Identifier	Weight
1	BlackRock Liquidity Funds MuniCash US	MCSXX	0.6
2	Michigan (State of) (Garvee) US	US594612DJ99	0.4
3	California (State of) US	US13063DPF95	0.4
4	University of California US	US91412HTM50	0.4
5	SCAGO Educational Facilities Corp. for Pickens School District US	US80585TCQ22	0.4
6	GEISINGER AUTH PA HLTH SYS REV US	US368497JX29	0.4
7	BLACK BELT ENERGY GAS DIST AL US	US09182NCB47	0.3
8	El Camino Community College District Fountation (The) US	US282726DP05	0.3
9	City of Boston US	US100853UQ10	0.3
10	New Jersey (State of) US	US646039YL51	0.3
11	New Jersey (State of) Transportation Trust Fund Authority US	US6461367R69	0.3
12	California (State of) Health Facilities Financing Authority (Kaiser Permanente) US	US13032UMR67	0.3
13	District of Columbia US	US25477GPX78	0.3
14	ILLINOIS ST US	ILS	0.3
15	Triborough Bridge & Tunnel Authority US	US89602HBN61	0.3
16	Coast Community College District US	CSTHGR	0.3
17	Lee County School Board (The) US	US523494SJ29	0.3
18	California (State of) US	US13063DB724	0.2
19	ALABAMA ST PUBLIC SCH & CLG AU US	US010609FF77	0.2
20	SALES TAX SECURITIZATION CORP US	STSGEN	0.2
21	State of California US	CAS	0.2
22	ROUND ROCK TEX INDPT SCH DIST US	US779240TB62	0.2
23	DALLAS TX AREA RAPID TRANSIT S US	US235241TA40	0.2
24	Michigan (State of) Finance Authority (Trinity Health Credit Group) US	US59447TQF39	0.2
25	University of California US	US91412HXK49	0.2
26	Metropolitan Transportation Authority (Green Bonds) US	US59261AJ322	0.2
27	County of Miami-Dade FL Water & Sewer System Revenue US	MIAUTL	0.2
28	Los Angeles Unified School District US	US544647LQ11	0.2
29	Miami (City of) & Dade (County of), FL School Board (The) US	US59333MW764	0.2
30	Lansing Board of Water & Light US	US516391FQ72	0.2
31	Colorado Health Facilities Authority US	US19648FWB65	0.2
32	New Jersey (State of) Economic Development Authority US	US64577BC855	0.2
33	Ohio (State of) Water Development Authority US	US677660UW04	0.2
34	Grand River Dam Authority US	US386442WM56	0.2
35	Florida Insurance Assistance Interlocal Agency Inc. US	US34074EAD13	0.2
36	Dallas & Fort Worth (Cities of), TX (Dallas/Fort Worth International Airport) US	US2350365U08	0.2
37	E-470 Public Highway Authority US	US26822LEM28	0.2
38	Alabama Federal Aid Highway Finance Authority US	US010268BV16	0.2
39	Missouri Joint Municipal Electric Utility Commission US	US606092PP31	0.2
40	Indiana (State of) Finance Authority (CWA Authority) US	US45505MJH07	0.2
41	New York (City of), NY Transitional Finance Authority US	US64971XRN02	0.2
42	ILLINOIS ST TOLL HIGHWAY AUTH US	US452252NT26	0.2
43	Pennsylvania (Commonwealth of) US	US70914PQ217	0.2
44	New Jersey (State of) Economic Development Authority US	US64577BC939	0.2
45	Minnesota (State of) US	US60412AWG48	0.2
46	New York (City of), NY US	US64966MPE39	0.2
47	Minnesota Municipal Gas Agency US	US60406UAM99	0.2
48	Triborough Bridge & Tunnel Authority (Green Bonds) US	US89602HEV50	0.2
49	Northside Independent School District US	US66702RZZ80	0.2
50	Missouri (State of) Board of Public Buildings US	US606341MD45	0.2

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04Exposure

Equity 0.6%Bonds 99.4%

By country

USUnited States100.8%

CurrencyUSD 100.8%

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