The iBoxx USD Breakeven 10-Year Inflation Index is designed to measure breakeven inflation through a combination of long positions in U.S. 10-Year TIPS and short positions in 10-Year U.S. Treasury bonds in the sovereign debt market. The index includes USD-denominated securities with a minimum amount outstanding of USD 2 billion. Bonds must be issued at 10-year maturity and must have a remaining time to maturity of at least one year at rebalancing. The index structure requires exactly six TIPS and at least six Treasury bonds at any point in time, with maximum 30% exposure to any single TIPS or Treasury bond within their respective portions. The nominal Gilt position is constructed in a way that the index duration is neutralized.