BBLB vs. IBGK
BBLB (JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF) and IBGK (iShares iBonds Dec 2054 Term Treasury ETF) are both exchange-traded funds - BBLB is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while IBGK is a Long-Term Bond fund tracking the ICE 2054 Maturity US Treasury Index. Both are passively managed. Over the past year, BBLB returned 5.09% vs 4.74% for IBGK. With a 0.99 correlation, they move nearly in lockstep. BBLB charges 0.04%/yr vs 0.07%/yr for IBGK.
Performance
BBLB vs. IBGK - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with BBLB at -0.36% and IBGK at -0.36%.
BBLB
- 1D
- -0.40%
- 1M
- 0.77%
- YTD
- -0.36%
- 6M
- -1.96%
- 1Y
- 5.09%
- 3Y*
- -1.70%
- 5Y*
- —
- 10Y*
- —
IBGK
- 1D
- -0.34%
- 1M
- 0.75%
- YTD
- -0.36%
- 6M
- -1.89%
- 1Y
- 4.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BBLB vs. IBGK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF | -0.36% | 4.26% | -3.01% |
IBGK iShares iBonds Dec 2054 Term Treasury ETF | -0.36% | 3.66% | -2.73% |
Correlation
The correlation between BBLB and IBGK is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2024 | 1.00 |
The correlation between BBLB and IBGK has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
BBLB vs. IBGK — Risk / Return Rank
BBLB
IBGK
BBLB vs. IBGK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) and iShares iBonds Dec 2054 Term Treasury ETF (IBGK). 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.
| BBLB | IBGK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.09 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 0.65 | +0.03 |
| Martin ratioReturn relative to average drawdown | 1.70 | 1.63 | +0.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BBLB | IBGK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.52 | 0.51 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.17 | 0.02 | -0.19 |
Drawdowns
BBLB vs. IBGK - Drawdown Comparison
The maximum BBLB drawdown since its inception was -21.06%, which is greater than IBGK's maximum drawdown of -14.62%. Use the drawdown chart below to compare losses from any high point for BBLB and IBGK.
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Drawdown Indicators
| BBLB | IBGK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.06% | -14.62% | -6.44% |
Max Drawdown (1Y)Largest decline over 1 year | -7.53% | -7.29% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -18.95% | — | — |
Current DrawdownCurrent decline from peak | -8.93% | -9.19% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -8.06% | -0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 2.92% | +0.08% |
Volatility
BBLB vs. IBGK - Volatility Comparison
JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) has a higher volatility of 2.90% compared to iShares iBonds Dec 2054 Term Treasury ETF (IBGK) at 2.70%. This indicates that BBLB's price experiences larger fluctuations and is considered to be riskier than IBGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBLB | IBGK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 2.70% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 6.55% | 6.20% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.80% | 9.36% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.83% | 11.81% | +2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.83% | 11.81% | +2.02% |
BBLB vs. IBGK - Expense Ratio Comparison
BBLB has a 0.04% expense ratio, which is lower than IBGK's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BBLB vs. IBGK - Dividend Comparison
BBLB's dividend yield for the trailing twelve months is around 5.00%, more than IBGK's 4.72% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF | 5.00% | 5.03% | 5.34% | 2.82% |
IBGK iShares iBonds Dec 2054 Term Treasury ETF | 4.72% | 4.59% | 3.15% | 0.00% |
Frequently Asked Questions
With a correlation of 1.00, BBLB and IBGK 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.
BBLB has higher volatility (2.90%) compared to IBGK (2.70%). In terms of maximum drawdown, BBLB dropped -21.06% vs IBGK's -14.62%.
On 1-year performance, BBLB leads with 5.09% vs 4.74% for IBGK. On fees, BBLB is cheaper at 0.04% per year. On volatility, IBGK has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BBLB has performed better with a 5.09% return vs 4.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBLB is cheaper with a 0.04% expense ratio, compared with 0.07% for IBGK.
BBLB has the higher dividend yield at 5.00%, compared with 4.72% for IBGK.
BBLB is categorized as Government Bonds, while IBGK is Long-Term Bond. BBLB tracks ICE U.S. Treasury 20+ Year Bond Index, while IBGK tracks ICE 2054 Maturity US Treasury Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.04% for BBLB and 0.07% for IBGK.
BBLB currently has the higher Sharpe Ratio (0.52 vs 0.51), 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.
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