ICME is the iShares Credit Income Active ETF, an actively managed ETF listed on the ASX that invests in Australian dollar-denominated credit securities.
iShares ETFs cover a broad range of asset classes, risk profiles and investment outcomes. To understand the appropriateness of this fund for your investment objective, please visit our product webpage.
iShares Credit Income Active ETF (ICME)
https://www.blackrock.com/au/products/347181/
This product is likely to be appropriate for a consumer:
• who is seeking income distribution and/or capital preservation
• using the product for a core component of their portfolio or less
• with a minimum investment timeframe of 3 years, and
• with a medium risk/return profile
iShares Credit Income Active ETF (ICME)
The iShares Credit Income Active ETF (ASX: ICME) can invest across various Australian fixed income sectors, including a range of corporates like subordinated debt, securitised assts and hybrids.
Unlike an index bond ETF, ICME is actively managed. BlackRock's highly experienced fixed income team conducts in-depth bottom-up research and assessment of issuers to identify opportunities across Australian credit markets and construct a diversified portfolio.
The result is a simple ETF designed to provide regular income, daily liquidity and active Australian credit exposure in one ASX-listed fund.
Source: BlackRock data as of 31 July 2026. For illustrative purposes only. Metrics are subject to change.
Running yield refers to the average income investors can expect from the portfolio of fixed income securities held, based on their current market prices. This does not include capital gains/losses.
Yield to maturity refers to the estimated total return from the portfolio if the fixed income securities are held to maturity, including income and capital gains/losses.
Competitive income. Active management. Lower fees
ICME is designed for investors who want a regular income stream from Australian fixed income.
The fund invests in higher-yielding areas of Australian credit, including senior debt, subordinated debt, hybrids and securitized assets, while staying diversified across issuers and sectors.
As seen in the chart below, this approach has seen the fund generate resilient performance through 2026's turbulent market environment.
ICME Performance Year to Date
Source: Bloomberg. Total net returns for iShares Credit Income Active ETF (ICME), as at 11 August 2026. Past performance is not a reliable indicator of future performance.
How active research supports income
ICME does not simply track a bond index. BlackRock’s Australian fixed income team actively selects securities based on issuer strength, bond structure, relative value and market conditions. The team can adjust the portfolio as credit markets change, rather than being locked into a fixed index exposure.
This active approach matters because credit risk changes over time. A company or sector that looks attractive today may become less attractive if its balance sheet weakens, spreads tighten too much, or the economic outlook changes.
The ICME investment process
Source: BlackRock as of July 2026. For illustrative purposes only. Investment process is shown for illustrative purposes only and is subject to change. There is no guarantee that a positive investment outcome will be achieved. Diversification and asset allocation may not fully protect you from market risk.
Who should consider ICME?
ICME may suit investors looking to:
- earn regular monthly income
- access Australian credit through an ETF
- complement cash, term deposits or traditional bond funds
- reduce reliance on bank hybrids as the local hybrid market changes
- add an actively managed income building block to a diversified portfolio
Why invest in ICME?
Income focused
Designed to provide investors with regular income and capital preservation which is sourced from Australian fixed income securities
Multi sector
The fund can invest across various Australian fixed income sectors, including a range of corporates like subordinated debt, securitised assets and hybrids
Research-driven decisions
Uses bottom-up research aiming to find reliable, high-yield securities, drawing on BlackRock’s global fixed income expertise
Frequently asked questions
Yes. ICME is designed to pay monthly distributions.
ICME invests in Australian credit securities, including investment grade credit, subordinated debt, hybrids, securitised debt and cash. Some investment in derivatives is also permitted under the fund’s investment guidelines.
Yes. ICME is actively managed by BlackRock’s fixed income team, using credit research, issuer analysis and market views to adjust the portfolio.
ICME does not track a fixed index. It can adjust sector exposure and security selection as market conditions change.
ICME invests in Australian fixed income securities which are of higher risk than cash. This means ICME carries investment risk, including credit risk and market risk.
Learn more
iShares Credit Income Active ETF (ICME)
Access a portfolio of high-yielding Australian bonds that seeks to outperform the cash rate.
Earning income through market cycles
Discover how making income a core part of your portfolio may help you progress towards your financial goals through different market environments.
What are active ETFs?
Learn how active ETFs differ from index-tracking ETFs, and how portfolio managers seek to outperform the broader market through active investment decisions.
Quarterly Fixed Income Outlook
Read the Australian fixed income team’s perspective on the latest economic data, market developments and the outlook for fixed income investors.
Our Solutions
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