Bond ETFs

ICSH:what it yields, how rates move it and what it holds

iShares Ultra Short Duration Bond Active ETF. Portfolio as of July 31, 2026, from the fund's SEC filing (Form N-PORT).

Ultra short. Bonds that mature very soon. They usually yield a little more than Treasury bills, with a little more risk.

Yield to maturity (YTM)

4.31%

+0.27 points over US Treasuries of the same maturity

As of July 31, 2026, before the fund's costs.

If rates rise 1 pointestimated from its duration, 0.7 years: -0.7%
Investment gradeof the credit risk, BBB or better: 100%
Size381 positions: $8.1B

In a few words

ICSH holds 381 positions. 88% of the portfolio is corporate bonds. On July 31, 2026, the bonds it holds had a yield to maturity (YTM) of 4.31% a year, before the fund's costs. Its duration is 0.7 years: if rates rise by 1 percentage point, its price falls about 0.7%. In 2022, when rates rose sharply, its total return was +1.0%.

Every ETF in Ultra short

If rates change

A rough estimate, if rates moved at once and equally at every maturity.

0.7 years duration4.31% yield to maturity

Change in rates+1 point

Price, at once

-0.7%

Over 12 months, with the yield

+3.6%

Ready-made moves

Change in rates	At once	12 months
	+0.7%	+5.0%
	+0.4%	+4.7%
	0.0%	+4.3%
	-0.4%	+3.9%
	-0.7%	+3.6%
	-1.5%	+2.8%

At a yield of 4.31% and a duration of 0.7 years, a rise in rates of about 5.90 points within the year would eat the whole year's yield.

Past returns

The ETF's total return, price change plus distributions, as the fund reports it to the SEC.

August 2019 – July 2026

Last 12 months

+4.1%

3 years, average per year

+5.1%

Worst 12 months

-0.5%

Largest fall from a peak

-0.9%

100 at the start 123.9 at the end, distributions reinvested

What it holds

Portfolio as of July 31, 2026: who issued the bonds, when they mature and the largest issuers.

381 positions192 issuers

Who issued the bonds

Companies88.3%

US Treasury2.4%

Largest issuers

The 10 largest are 15.8% of the fund.

United States Treasury2.42%

Banco Bilbao Vizcaya Argentaria/New York NY1.90%

HYUNDAI CAPITAL AMERICA1.71%

Hyundai Auto Receivables Trust1.70%

Honda Auto Receivables Owner Trust1.51%

ATHENE GLOBAL FUNDING1.49%

Toyota Auto Receivables Owner Trust1.33%

RWE AG1.27%

AMAZON.COM INC1.27%

TOYOTA MOTOR CREDIT CORP1.19%

When they mature

Up to 1 year48.9%

1 to 3 years41.2%

3 to 5 years0.9%

5 to 10 years0.0%

10 to 20 years0.0%

Over 20 years0.0%

Details

Positions: 381
Average coupon: 3.04%
Floating rate: 11.6%
In other currencies: 0.0%
Mortgage-backed: 0.0%
In default: 0.00%
Hard to value: 0.00%
Cash and cash funds: 1.6%

Maturities as stated on the bonds. Mortgage bonds, many corporate bonds and city bonds can be repaid early, so in practice they mature sooner.

Similar bond ETFs

Same kind as ICSH, nearest in rate sensitivity.

JPSTJPMorgan Ultra-Short Income ETF
If rates +1%-0.7%
PULSPGIM Ultra Short Bond ETF
If rates +1%-0.8%
VUSBVanguard Ultra-Short Bond ETF
If rates +1%-1.0%
MINTPIMCO Enhanced Short Maturity Active Exchange-Traded Fund
If rates +1%-0.4%

ETF	Yield (YTM)	If rates +1%	2022	Size
JPSTJPMorgan Ultra-Short Income ETF	4.45%	-0.7%	+1.1%	$41.1B
PULSPGIM Ultra Short Bond ETF	4.49%	-0.8%	+1.5%	$18.7B
VUSBVanguard Ultra-Short Bond ETF	4.51%	-1.0%	-0.4%	$8.9B
MINTPIMCO Enhanced Short Maturity Active Exchange-Traded Fund	4.61%	-0.4%	-1.0%	$16.4B

The full analysis

And what about stocks?

Bonds are only one side of investing. With Ploutos AI you can analyse a company through its official SEC filings, look into its financials and understand what lies behind the numbers. Every finding comes with a reference to its source, so you can check the data behind the analysis.

A fair value range built from the filings
Earnings quality, debt and red flags
Insider and institutional moves
The case for and the case against

Common questions

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How much would ICSH fall if rates rose?

With a duration of 0.7 years, an immediate one-point rise in rates would take about 0.7% off its price. An equal fall would add about the same.

What is ICSH's yield?

On July 31, 2026, according to its filing, the bonds it holds had a yield to maturity (YTM) of 4.31% a year, before the fund's costs. That is not the distribution the ETF pays, and it moves every day with prices.

How did ICSH do in 2022?

In 2022 ICSH returned +1.0% in total, as the fund reports it.

Is this ICSH's dividend yield?

No. The yield to maturity shown here is what the bonds the fund holds would earn a year if held to maturity, at the prices on the filing date. The dividend yield measures what the ETF paid over the last 12 months against its price, and it lags, because it depends on the coupons of bonds bought earlier. The SEC yield the issuer publishes is a standardised 30-day figure after costs, and usually lands close to the yield to maturity, a little below. When rates have risen, the dividend yield is usually lower than the other two.

US stocksThe market today, the sectors, the largest companies and the week's results.ETF overlapHow much of one ETF is already inside another, stock by stock, from the funds' SEC filings.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.Methodology and sourcesWhere every figure comes from and how it is checked.

This page describes what bond ETFs hold, based on their SEC filings. Bond prices change every day and past returns do not say what comes next.