- Issuer
- iShares
- Inception Date
- Apr 16, 2019
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $644M
Share Price Chart
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Performance
IBMQ Performance Chart
iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) is up 0.7% since the beginning of the year. IBMQ is currently trading at $25 per share. Investors who bought $1,000 worth of IBMQ shares 5 years ago would now be looking at an investment worth $1,024.
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Returns By Period
iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) has returned 0.69% so far this year and 3.49% over the past 12 months.
iShares iBonds Dec 2028 Term Muni Bond ETF
- 1D
- -0.08%
- 1M
- 0.16%
- YTD
- 0.69%
- 6M
- 1.27%
- 1Y
- 3.49%
- 3Y*
- 2.96%
- 5Y*
- 0.48%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
IBMQ Monthly Returns History
Based on dividend-adjusted daily data since Apr 18, 2019, IBMQ's average daily return is +0.01%, while the average monthly return is +0.17%. At this rate, an investment would double in approximately 34.0 years.
Historically, 59% of months were positive and 41% were negative. The best month was May 2020 with a return of +4.5%, while the worst month was Sep 2022 at -3.3%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.
On a daily basis, IBMQ closed higher 50% of trading days. The best single day was Mar 26, 2020 with a return of +4.9%, while the worst single day was Mar 19, 2020 at -7.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.49% | 0.53% | -0.78% | 0.22% | 0.25% | -0.01% | 0.69% | ||||||
| 2025 | 0.40% | 0.62% | -0.16% | -0.35% | 0.68% | 0.76% | 0.64% | 0.71% | 0.16% | -0.20% | 0.22% | 0.54% | 4.09% |
| 2024 | -0.45% | 0.08% | -0.51% | -0.78% | -0.63% | 1.01% | 1.16% | 1.06% | 0.78% | -1.02% | 0.70% | -0.67% | 0.71% |
| 2023 | 2.53% | -2.46% | 2.33% | -0.52% | -1.26% | 0.51% | 0.05% | -0.64% | -1.92% | -0.33% | 3.92% | 1.92% | 4.00% |
| 2022 | -3.14% | -0.34% | -3.00% | -2.59% | 1.93% | -0.74% | 2.41% | -2.07% | -3.33% | -0.10% | 3.97% | 0.36% | -6.73% |
| 2021 | 0.32% | -2.16% | 0.43% | 0.82% | 0.17% | 0.22% | 0.78% | -0.32% | -0.90% | -0.32% | 0.58% | 0.15% | -0.26% |
Benchmark Metrics
iShares iBonds Dec 2028 Term Muni Bond ETF has an annualized alpha of 1.09%, beta of 0.07, and R2 of 0.06 versus S&P 500 Index. Calculated based on daily prices since April 22, 2019.
- This ETF participated in 15.30% of S&P 500 Index downside but only 10.85% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.07 may look defensive, but with R2 of 0.06 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.06 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.09%
- Beta
- 0.07
- R²
- 0.06
- Upside Capture
- 10.85%
- Downside Capture
- 15.30%
Expense Ratio
IBMQ has an expense ratio of 0.18%, which is considered low.
Return for Risk
Risk / Return Rank
IBMQ ranks 77 for risk / return — better than 77% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) and compare them to S&P 500 Index.
| IBMQ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.41 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 2.93 | +0.18 |
| Martin ratioReturn relative to average drawdown | 8.20 | 13.52 | -5.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
iShares iBonds Dec 2028 Term Muni Bond ETF provided a 2.45% dividend yield over the last twelve months, with an annual payout of $0.62 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.62 | $0.62 | $0.59 | $0.49 | $0.31 | $0.29 | $0.34 | $0.27 |
Dividend yield | 2.45% | 2.43% | 2.33% | 1.93% | 1.25% | 1.05% | 1.24% | 1.03% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares iBonds Dec 2028 Term Muni Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.05 | $0.06 | $0.05 | $0.05 | $0.05 | $0.26 | ||||||
| 2025 | $0.00 | $0.05 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.10 | $0.62 |
| 2024 | $0.00 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.10 | $0.59 |
| 2023 | $0.00 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.09 | $0.49 |
| 2022 | $0.00 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.07 | $0.31 |
| 2021 | $0.00 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.05 | $0.29 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares iBonds Dec 2028 Term Muni Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares iBonds Dec 2028 Term Muni Bond ETF was 15.85%, occurring on Mar 23, 2020. Recovery took 78 trading sessions.
The current iShares iBonds Dec 2028 Term Muni Bond ETF drawdown is 0.33%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -15.85%Mar 2020 | 13d | 3mo 23d | 4mo 6dMar 2020 - Jul 2020 |
Bear market2022 | -11.60%Oct 2022 | 1y 8mo | 2y 10mo | 4y 6moFeb 2021 - Sep 2025 |
2019 pullback2019 | -2.44%Sep 2019 | 19d | 3mo 29d | 4mo 18dAug 2019 - Jan 2020 |
2020 pullback2020 | -1.87%Oct 2020 | 2mo 3d | 1mo 27d | 4moAug 2020 - Dec 2020 |
2026 pullback2026 | -1.13%Mar 2026 | 22d | — | 3mo 4dMar 2026 - now |
Drawdown Indicators
| IBMQ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -56.78% | +40.93% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | -9.10% | +7.97% |
Max Drawdown (3Y)Largest decline over 3 years | -3.57% | -18.90% | +15.33% |
Max Drawdown (5Y)Largest decline over 5 years | -11.51% | -25.43% | +13.92% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.33% | -0.74% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -10.72% | +7.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 1.97% | -1.54% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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