- ISIN
- US46436E2963
- CUSIP
- 46436E296
- Issuer
- iShares
- Inception Date
- Jul 6, 2022
- Region
- North America (U.S.)
- Category
- Intermediate Core Bond
- Leveraged
- 1x (No leverage)
- Index Tracked
- ICE 2032 Maturity US Treasury Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $550M
Share Price Chart
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Performance
IBTM Performance Chart
iShares iBonds Dec 2032 Term Treasury ETF (IBTM) is down 0.6% since the beginning of the year. IBTM is currently trading at $23 per share.
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Returns By Period
iShares iBonds Dec 2032 Term Treasury ETF (IBTM) has returned -0.61% so far this year and 3.09% over the past 12 months.
iShares iBonds Dec 2032 Term Treasury ETF
- 1D
- -0.31%
- 1M
- 0.33%
- YTD
- -0.61%
- 6M
- -0.56%
- 1Y
- 3.09%
- 3Y*
- 2.71%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
IBTM Monthly Returns History
Based on dividend-adjusted daily data since Jul 8, 2022, IBTM's average daily return is +0.01%, while the average monthly return is +0.13%. At this rate, an investment would double in approximately 44.5 years.
Historically, 50% of months were positive and 50% were negative. The best month was Nov 2023 with a return of +4.4%, while the worst month was Sep 2022 at -4.8%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 6 months.
On a daily basis, IBTM closed higher 49% of trading days. The best single day was Nov 10, 2022 with a return of +2.4%, while the worst single day was Sep 26, 2022 at -1.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.09% | 2.02% | -1.91% | -0.16% | -0.03% | -0.39% | -0.61% | ||||||
| 2025 | 0.63% | 2.62% | 0.46% | 1.17% | -1.02% | 1.49% | -0.55% | 1.67% | 0.35% | 0.60% | 0.92% | -0.49% | 8.06% |
| 2024 | -0.09% | -1.95% | 0.75% | -3.08% | 1.90% | 1.24% | 2.79% | 1.46% | 1.31% | -3.25% | 0.91% | -1.90% | -0.14% |
| 2023 | 3.28% | -3.12% | 3.79% | 0.75% | -1.40% | -1.26% | -0.70% | -0.76% | -3.15% | -1.93% | 4.42% | 3.95% | 3.48% |
| 2022 | 3.41% | -4.09% | -4.79% | -1.94% | 3.75% | -1.13% | -5.01% |
Benchmark Metrics
iShares iBonds Dec 2032 Term Treasury ETF has an annualized alpha of 0.75%, beta of 0.05, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since July 08, 2022.
- This ETF participated in 48.67% of S&P 500 Index downside but only 20.43% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.05 may look defensive, but with R2 of 0.01 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 0.01 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
- 0.75%
- Beta
- 0.05
- R²
- 0.01
- Upside Capture
- 20.43%
- Downside Capture
- 48.67%
Expense Ratio
IBTM has an expense ratio of 0.07%, which is considered low.
Return for Risk
Risk / Return Rank
IBTM ranks 21 for risk / return — below 21% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares iBonds Dec 2032 Term Treasury ETF (IBTM) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IBTM | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.37 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 2.78 | -1.84 |
| Martin ratioReturn relative to average drawdown | 2.51 | 12.44 | -9.93 |
Dividends
Dividend History
iShares iBonds Dec 2032 Term Treasury ETF provided a 3.96% dividend yield over the last twelve months, with an annual payout of $0.89 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.89 | $0.89 | $0.88 | $0.78 | $0.32 |
Dividend yield | 3.96% | 3.87% | 3.96% | 3.39% | 1.38% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares iBonds Dec 2032 Term Treasury 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 | $0.07 | $0.07 | $0.08 | $0.07 | $0.08 | $0.37 | ||||||
| 2025 | $0.00 | $0.07 | $0.07 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.07 | $0.08 | $0.15 | $0.89 |
| 2024 | $0.00 | $0.07 | $0.07 | $0.08 | $0.07 | $0.08 | $0.07 | $0.08 | $0.07 | $0.07 | $0.07 | $0.15 | $0.88 |
| 2023 | $0.00 | $0.04 | $0.06 | $0.07 | $0.06 | $0.07 | $0.07 | $0.07 | $0.06 | $0.07 | $0.07 | $0.15 | $0.78 |
| 2022 | $0.08 | $0.06 | $0.06 | $0.12 | $0.32 |
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 2032 Term Treasury 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 2032 Term Treasury ETF was 13.60%, occurring on Oct 19, 2023. Recovery took 446 trading sessions.
The current iShares iBonds Dec 2032 Term Treasury ETF drawdown is 2.49%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 correction2023 | -13.60%Oct 2023 | 1y 2mo | 1y 9mo | 3yAug 2022 - Aug 2025 |
2026 pullback2026 | -3.26%May 2026 | 2mo 18d | — | 3mo 23dMar 2026 - now |
2026 pullback2026 | -1.12%Jan 2026 | 1mo 23d | 21d | 2mo 14dNov 2025 - Feb 2026 |
2025 pullback2025 | -1.07%Nov 2025 | 13d | 19d | 1mo 2dOct 2025 - Nov 2025 |
Bear market2022 | -1.05%Jul 2022 | 6d | 2d | 8dJul 2022 - Jul 2022 |
Drawdown Indicators
| IBTM | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.60% | -56.78% | +43.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -9.10% | +5.84% |
Max Drawdown (3Y)Largest decline over 3 years | -7.86% | -18.90% | +11.04% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.49% | -1.80% | -0.69% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -10.71% | +5.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 2.03% | -0.80% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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