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The fund is an exchange traded fund (ETF) that aims to track the performance of the Markit iBoxx € Covered Index as closely as possible.
The ETF invests in physical index securities. The Markit iBoxx € Covered Index offers exposure to Euro denominated covered bonds?with investment grade rating. Only bonds with a minimum remaining time to maturity of one year and?a minimum amount outstanding of €1 billion are included in the index. iShares ETFs are funds managed by BlackRock. They are transparent, cost-efficient, liquid vehicles that trade on stock exchanges like normal securities. iShares ETFs offer flexible and easy access to a wide range of markets and asset classes.