iBoxx

iBoxx is a family of fixed-income indices that track the performance of bonds across various currencies and regions. The indices are produced by ICE Data Indices, a unit of Intercontinental Exchange, and originated under the Markit iBoxx brand before being integrated into ICE’s index offerings. They are widely used as benchmarks for government, corporate, and other fixed-income issuances, with separate series for investment-grade, high-yield, and government debt. Sub-indices cover currencies such as USD, EUR, and GBP and may target specific sectors or maturities.

The iBoxx methodology generally defines an investable universe using criteria such as issue size, liquidity, and credit rating, and applies a rules-based weighting scheme, often float-adjusted market capitalization. Indices are maintained on a regular schedule, with rebalancing to reflect market changes while preserving representativeness and tradability. The approach emphasizes transparency and reproducibility, incorporating liquidity screens and other constraints to ensure the indices can be effectively tracked by investment products.

iBoxx indices are commonly used as benchmarks for fixed-income exchange-traded funds, mutual funds, and other passive strategies. They provide standardized performance references for bond markets, enabling comparisons of credit, duration, and yield across regions and sectors. The family has evolved to encompass a broad set of series for government, corporate, and high-yield bonds in major currencies, reflecting ongoing development of fixed-income benchmarks in global markets.