AVIG vs. IBTO

Last updated Jun 24, 2026

AVIG (Avantis Core Fixed Income ETF) and IBTO (iShares iBonds Dec 2033 Term Treasury ETF) are both Intermediate Core Bond funds. AVIG is actively managed, while IBTO is passively managed. Over the past year, AVIG returned 4.51% vs 2.97% for IBTO. With a 0.96 correlation, they move nearly in lockstep. AVIG charges 0.15%/yr vs 0.07%/yr for IBTO.

Performance

AVIG vs. IBTO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Core Fixed Income ETF (AVIG) and iShares iBonds Dec 2033 Term Treasury ETF (IBTO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVIG achieves a 0.23% return, which is significantly higher than IBTO's -0.53% return.

AVIG

• 1D: 0.12%
• 1M: 0.51%
• YTD: 0.23%
• 6M: 0.39%
• 1Y: 4.51%
• 3Y*: 4.46%
• 5Y*: 0.10%
• 10Y*: —

IBTO

• 1D: 0.10%
• 1M: 0.47%
• YTD: -0.53%
• 6M: -0.45%
• 1Y: 2.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVIG vs. IBTO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVIG Avantis Core Fixed Income ETF	0.23%	7.98%	1.55%	3.43%
IBTO iShares iBonds Dec 2033 Term Treasury ETF	-0.53%	8.23%	-0.87%	1.71%

Correlation

The correlation between AVIG and IBTO is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023	0.96

The correlation between AVIG and IBTO has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

AVIG vs. IBTO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVIG

AVIG Risk / Return Rank: 33
AVIG Sharpe Ratio Rank: 35
AVIG Sortino Ratio Rank: 34
AVIG Omega Ratio Rank: 32
AVIG Calmar Ratio Rank: 34
AVIG Martin Ratio Rank: 33

IBTO

IBTO Risk / Return Rank: 19
IBTO Sharpe Ratio Rank: 21
IBTO Sortino Ratio Rank: 20
IBTO Omega Ratio Rank: 18
IBTO Calmar Ratio Rank: 20
IBTO Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVIG vs. IBTO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Core Fixed Income ETF (AVIG) and iShares iBonds Dec 2033 Term Treasury ETF (IBTO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AVIG	IBTO	Difference
Sharpe ratio: Return per unit of total volatility	1.18	0.68	+0.50
Sortino ratio: Return per unit of downside risk	1.73	1.04	+0.70
Omega ratio: Gain probability vs. loss probability	1.21	1.12	+0.09
Calmar ratio: Return relative to maximum drawdown	1.61	0.82	+0.79
Martin ratio: Return relative to average drawdown	4.56	2.14	+2.42

AVIG vs. IBTO - Sharpe Ratio Comparison

The current AVIG Sharpe Ratio is 1.18, which is higher than the IBTO Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of AVIG and IBTO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVIG vs. IBTO - Drawdown Comparison

The maximum AVIG drawdown since its inception was -19.64%, which is greater than IBTO's maximum drawdown of -8.36%. Use the drawdown chart below to compare losses from any high point for AVIG and IBTO.

Drawdown Indicators

	AVIG	IBTO	Difference
Max Drawdown Largest peak-to-trough decline	-19.64%	-8.36%	-11.28%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-3.66%	+0.84%
Max Drawdown (3Y) Largest decline over 3 years	-6.03%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.47%	—	—
Current Drawdown Current decline from peak	-1.52%	-2.59%	+1.07%
Average Drawdown Average peak-to-trough decline	-7.69%	-2.37%	-5.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	1.39%	-0.40%

Volatility

AVIG vs. IBTO - Volatility Comparison

The current volatility for Avantis Core Fixed Income ETF (AVIG) is 1.15%, while iShares iBonds Dec 2033 Term Treasury ETF (IBTO) has a volatility of 1.27%. This indicates that AVIG experiences smaller price fluctuations and is considered to be less risky than IBTO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVIG	IBTO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	1.27%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	2.96%	3.14%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	3.83%	4.39%	-0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.24%	6.59%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.99%	6.59%	-0.60%

AVIG vs. IBTO - Expense Ratio Comparison

AVIG has a 0.15% expense ratio, which is higher than IBTO's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVIG vs. IBTO - Dividend Comparison

AVIG's dividend yield for the trailing twelve months is around 4.37%, more than IBTO's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
AVIG Avantis Core Fixed Income ETF	4.37%	4.36%	4.66%	4.06%	2.53%	1.12%	0.22%
IBTO iShares iBonds Dec 2033 Term Treasury ETF	4.15%	4.05%	4.23%	1.66%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVIG and IBTO in my portfolio?

With a correlation of 0.95, AVIG and IBTO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AVIG or IBTO?

IBTO has higher volatility (1.27%) compared to AVIG (1.15%). In terms of maximum drawdown, AVIG dropped -19.64% vs IBTO's -8.36%.

Which ETF is better, AVIG or IBTO?

On 1-year performance, AVIG leads with 4.51% vs 2.97% for IBTO. On fees, IBTO is cheaper at 0.07% per year. On volatility, AVIG has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVIG or IBTO?

Over the 1-year period, AVIG has performed better with a 4.51% return vs 2.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVIG or IBTO?

IBTO is cheaper with a 0.07% expense ratio, compared with 0.15% for AVIG.

Which ETF pays a higher dividend yield, AVIG or IBTO?

AVIG has the higher dividend yield at 4.37%, compared with 4.15% for IBTO.

What is the main difference between AVIG and IBTO?

They also come from different issuers: Avantis and iShares. Their fees differ too: 0.15% for AVIG and 0.07% for IBTO.

Which has better risk-adjusted returns?

AVIG currently has the higher Sharpe Ratio (1.18 vs 0.68), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.