iShares € Govt Bond 20yr Target Duration UCITS ETF is an exchange-traded fund that tracks the Markit iBoxx EUR Eurozone 20yr Target Duration Index, focusing on euro-denominated government bonds issued by Eurozone governments. Its primary purpose is to deliver a portfolio with an aggregate duration maintained between 19 and 21 years through monthly rebalancing, reflecting the weighted average time for bond repayments via coupons and principal. Managed by iShares, part of BlackRock, the ETF employs physical replication in a long-only strategy and distributes income semi-annually in euros, with a low total expense ratio of 15 basis points. Domiciled in Ireland with ISIN IE00BSKRJX20, it holds bonds predominantly from issuers like Germany (38.90%), France (25.51%), Netherlands (13.65%), and Belgium (13.08%), alongside smaller allocations to Austria, Ireland, and Finland. Launched in January 2015, it serves investors seeking targeted long-term duration exposure in the Eurozone sovereign debt market, aiding in interest rate sensitivity management within fixed income portfolios.