The iBoxx USD 10-Year Breakeven Inflation (Futures) is designed to measure the U.S. 10-year breakeven inflation through a combination of long positions in U.S. Treasury Inflation-Protected Securities (TIPS) and short positions in Ultra 10-Year Treasury Note futures. The index includes USD-denominated bonds issued by the U.S. Treasury with a minimum amount outstanding of USD 5 billion. Bonds must have a remaining time to maturity of up to 20 years at rebalancing. The index includes sovereign bonds whose base inflation index is the U.S. Consumer Price Index, and the index must contain at least six TIPS at any point in time, with a cap of 30% applied to any TIPS.