iShares U.S. Long Government Bond Index Fund
U.S. bond index fund · tracks Bloomberg U.S. Government: Long Index
As of its 2026 Q2 report, iShares U.S. Long Government Bond Index Fund held 104 positions with $2.91B in net assets. Its ten largest holdings made up 28.4% of the fund. The fund costs 0.1% a year. Over the 12 months to May 2026, it returned 4.5%, with dividends reinvested. In 2026 Q3 it added 3 new positions and exited 2.
The investment objective of iShares U.S. Long Government Bond Index Fund (the Fund), a series of BlackRock Funds SM (the Trust), is to seek to provide investment results that correspond to the total return performance of fixed-income securities, in aggregate, as represented by the Bloomberg U.S. Government: Long Index (or the Underlying Index).
The fund tracks the Bloomberg U.S. Government: Long Index, which comprises U.S. Treasuries and agency debt with maturities of ten years or longer, using sampling techniques to approximate the index's total return. Because the fund samples rather than fully replicates the index, its returns may diverge from the benchmark. The fund may use futures, forwards, options and other derivatives to manage liquidity or replicate index positions.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
BlackRock Funds III | 8.64% | $251.21M | — |
United States Treasury 4.63% · due 2054-05-15 | 2.26% | $65.76M | — |
United States Treasury 4.75% · due 2053-11-15 | 2.26% | $65.72M | — |
United States Treasury 4.75% · due 2055-05-15 | 2.26% | $65.70M | — |
United States Treasury 4.50% · due 2054-11-15 | 2.22% | $64.56M | — |
United States Treasury 4.75% · due 2055-08-15 | 2.22% | $64.46M | — |
United States Treasury 4.63% · due 2055-11-15 | 2.16% | $62.81M | — |
United States Treasury 4.63% · due 2055-02-15 | 2.15% | $62.55M | — |
United States Treasury 4.25% · due 2054-02-15 | 2.14% | $62.23M | — |
United States Treasury 4.25% · due 2054-08-15 | 2.13% | $61.99M | — |
All 104 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 98.95% |
| Cash & short-term | 8.67% |
These positions come to 107.62% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
Derivatives are shown at market value, not notional exposure.
How it has done
C000234049 share class · total returns with dividends reinvested
Volatility over the last 12 months: 7.80%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
iShares U.S. Long Government Bond Index Fund is a U.S. bond index fund that tracks the Bloomberg U.S. Government: Long Index.
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Long duration
- Expense ratio, by class
- 0.10%
- Portfolio turnover
- 33.00% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
3 new· the largest 2
2 exited
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| 5-10y | 0.5% |
| 10y+ | 99.5% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying a small fraction as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 100% |
| Credit spreads | 0% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +0.06 yr |
| High yield | +0.00 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.12 yr | 1% |
| 5 yr | 1.09 yr | 8% |
| 10 yr | 4.91 yr | 34% |
| 30 yr | 8.13 yr | 57% |
| 3 mo | 0.00 yr | 0% |
| 10 yr | 0.06 yr | 100% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.00 | +0.00 | $0 | $20 |
| 1 yr | +0.12 | +0.00 | +0.00 | $0 | $0 |
| 5 yr | +1.09 | +0.00 | +0.00 | $0 | $0 |
| 10 yr | +4.91 | +0.06 | +0.00 | $18.9k | $0 |
| 30 yr | +8.13 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — this fund, QQQ and the fund in my 401(k)?”
- “How do this fund’s ten biggest holdings stack up against each other?”
- “For my target-date fund, what’s the real stock-and-bond mix once you look through it?”