BFIX vs. IBTO

Last updated Jun 4, 2026

BFIX (Build Bond Innovation ETF) and IBTO (iShares iBonds Dec 2033 Term Treasury ETF) are both Intermediate Core Bond funds. BFIX is actively managed, while IBTO is passively managed. Over the past year, BFIX returned 4.80% vs 4.04% for IBTO. At a 0.42 correlation, their price movements are largely independent. BFIX charges 0.45%/yr vs 0.07%/yr for IBTO.

Performance

BFIX vs. IBTO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Build Bond Innovation ETF (BFIX) 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, BFIX achieves a 1.27% return, which is significantly higher than IBTO's -0.58% return.

BFIX

• 1D: -0.08%
• 1M: 0.15%
• YTD: 1.27%
• 6M: 1.32%
• 1Y: 4.80%
• 3Y*: 7.75%
• 5Y*: —
• 10Y*: —

IBTO

• 1D: -0.21%
• 1M: -0.17%
• YTD: -0.58%
• 6M: -1.02%
• 1Y: 4.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BFIX vs. IBTO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BFIX Build Bond Innovation ETF	1.27%	5.91%	12.95%	2.94%
IBTO iShares iBonds Dec 2033 Term Treasury ETF	-0.58%	8.23%	-0.87%	1.71%

Correlation

The correlation between BFIX and IBTO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023	0.42

Return for Risk

BFIX vs. IBTO — Risk / Return Rank

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

BFIX

BFIX Risk / Return Rank: 61
BFIX Sharpe Ratio Rank: 48
BFIX Sortino Ratio Rank: 53
BFIX Omega Ratio Rank: 51
BFIX Calmar Ratio Rank: 88
BFIX Martin Ratio Rank: 67

IBTO

IBTO Risk / Return Rank: 25
IBTO Sharpe Ratio Rank: 26
IBTO Sortino Ratio Rank: 26
IBTO Omega Ratio Rank: 24
IBTO Calmar Ratio Rank: 24
IBTO Martin Ratio Rank: 25

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.

BFIX vs. IBTO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Build Bond Innovation ETF (BFIX) 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.

	BFIX	IBTO	Difference
Sharpe ratio: Return per unit of total volatility	1.67	0.91	+0.76
Sortino ratio: Return per unit of downside risk	2.55	1.38	+1.17
Omega ratio: Gain probability vs. loss probability	1.32	1.16	+0.16
Calmar ratio: Return relative to maximum drawdown	5.11	1.11	+4.00
Martin ratio: Return relative to average drawdown	12.39	3.21	+9.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BFIX vs. IBTO - Sharpe Ratio Comparison

The current BFIX Sharpe Ratio is 1.67, which is higher than the IBTO Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of BFIX 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.

Sharpe Ratios by Period

	BFIX	IBTO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	0.91	+0.76
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.43	+0.42

Drawdowns

BFIX vs. IBTO - Drawdown Comparison

The maximum BFIX drawdown since its inception was -8.03%, roughly equal to the maximum IBTO drawdown of -8.36%. Use the drawdown chart below to compare losses from any high point for BFIX and IBTO.

Drawdown Indicators

	BFIX	IBTO	Difference
Max Drawdown Largest peak-to-trough decline	-8.03%	-8.36%	+0.33%
Max Drawdown (1Y) Largest decline over 1 year	-0.94%	-3.66%	+2.72%
Max Drawdown (3Y) Largest decline over 3 years	-4.05%	—	—
Current Drawdown Current decline from peak	-0.40%	-2.63%	+2.23%
Average Drawdown Average peak-to-trough decline	-2.76%	-2.37%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.39%	1.26%	-0.87%

Volatility

BFIX vs. IBTO - Volatility Comparison

The current volatility for Build Bond Innovation ETF (BFIX) is 0.89%, while iShares iBonds Dec 2033 Term Treasury ETF (IBTO) has a volatility of 1.32%. This indicates that BFIX 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

	BFIX	IBTO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	1.32%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	1.73%	3.02%	-1.29%
Volatility (1Y) Calculated over the trailing 1-year period	2.90%	4.46%	-1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.77%	6.61%	-1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.77%	6.61%	-1.84%

BFIX vs. IBTO - Expense Ratio Comparison

BFIX has a 0.45% expense ratio, which is higher than IBTO's 0.07% expense ratio.

Dividends

BFIX vs. IBTO - Dividend Comparison

BFIX's dividend yield for the trailing twelve months is around 3.52%, less than IBTO's 4.15% yield.

Position	TTM	2025	2024	2023	2022
BFIX Build Bond Innovation ETF	3.52%	3.73%	4.38%	4.30%	1.58%
IBTO iShares iBonds Dec 2033 Term Treasury ETF	4.15%	4.05%	4.23%	1.66%	0.00%

Frequently Asked Questions

Can I hold both BFIX and IBTO in my portfolio?

BFIX and IBTO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BFIX or IBTO?

IBTO has higher volatility (1.32%) compared to BFIX (0.89%). In terms of maximum drawdown, BFIX dropped -8.03% vs IBTO's -8.36%.

Which ETF is better, BFIX or IBTO?

On 1-year performance, BFIX leads with 4.80% vs 4.04% for IBTO. On fees, IBTO is cheaper at 0.07% per year. On volatility, BFIX has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BFIX or IBTO?

Over the 1-year period, BFIX has performed better with a 4.80% return vs 4.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BFIX or IBTO?

IBTO is cheaper with a 0.07% expense ratio, compared with 0.45% for BFIX.

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

IBTO has the higher dividend yield at 4.15%, compared with 3.52% for BFIX.

What is the main difference between BFIX and IBTO?

They also come from different issuers: Build and iShares. Their fees differ too: 0.45% for BFIX and 0.07% for IBTO.

Which has better risk-adjusted returns?

BFIX currently has the higher Sharpe Ratio (1.67 vs 0.91), 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.