BNDY vs. IBTM
BNDY (Horizon Core Bond ETF) and IBTM (iShares iBonds Dec 2032 Term Treasury ETF) are both Intermediate Core Bond funds. BNDY is actively managed, while IBTM is passively managed. Over the past year, BNDY returned 6.78% vs 3.05% for IBTM. Their correlation of 0.82 suggests significant overlap in exposure. BNDY charges 0.66%/yr vs 0.07%/yr for IBTM.
Performance
BNDY vs. IBTM - Performance Comparison
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Returns By Period
In the year-to-date period, BNDY achieves a 0.82% return, which is significantly higher than IBTM's -0.39% return.
BNDY
- 1D
- -0.58%
- 1M
- 0.56%
- 6M
- 0.51%
- YTD
- 0.82%
- 1Y
- 6.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBTM
- 1D
- -0.37%
- 1M
- 0.39%
- 6M
- -0.53%
- YTD
- -0.39%
- 1Y
- 3.05%
- 3Y*
- 3.59%
- 5Y*
- —
- 10Y*
- —
BNDY vs. IBTM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BNDY Horizon Core Bond ETF | 0.82% | 5.21% |
IBTM iShares iBonds Dec 2032 Term Treasury ETF | -0.39% | 2.91% |
Correlation
The correlation between BNDY and IBTM is 0.82, 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 | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2025 | 0.82 |
The correlation between BNDY and IBTM has been stable across timeframes, ranging from 0.82 to 0.82 - a consistent structural relationship.
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Return for Risk
BNDY vs. IBTM — Risk / Return Rank
BNDY
IBTM
BNDY vs. IBTM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Core Bond ETF (BNDY) and iShares iBonds Dec 2032 Term Treasury ETF (IBTM). 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.
| BNDY | IBTM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.13 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 0.94 | +0.80 |
| Martin ratioReturn relative to average drawdown | 7.20 | 2.40 | +4.80 |
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Drawdowns
BNDY vs. IBTM - Drawdown Comparison
The maximum BNDY drawdown since its inception was -3.93%, smaller than the maximum IBTM drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for BNDY and IBTM.
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Drawdown Indicators
| BNDY | IBTM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.93% | -13.60% | +9.67% |
Max Drawdown (1Y)Largest decline over 1 year | -3.93% | -3.26% | -0.67% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.86% | — |
Current DrawdownCurrent decline from peak | -1.20% | -2.28% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -0.65% | -4.76% | +4.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.27% | -0.33% |
Volatility
BNDY vs. IBTM - Volatility Comparison
Horizon Core Bond ETF (BNDY) has a higher volatility of 1.82% compared to iShares iBonds Dec 2032 Term Treasury ETF (IBTM) at 1.37%. This indicates that BNDY's price experiences larger fluctuations and is considered to be riskier than IBTM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDY | IBTM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 1.37% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 4.24% | 2.95% | +1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.12% | 4.03% | +1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.11% | 7.50% | -2.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.11% | 7.50% | -2.39% |
BNDY vs. IBTM - Expense Ratio Comparison
BNDY has a 0.66% expense ratio, which is higher than IBTM's 0.07% expense ratio.
Dividends
BNDY vs. IBTM - Dividend Comparison
BNDY's dividend yield for the trailing twelve months is around 5.87%, more than IBTM's 3.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BNDY Horizon Core Bond ETF | 5.87% | 1.89% | 0.00% | 0.00% | 0.00% |
IBTM iShares iBonds Dec 2032 Term Treasury ETF | 3.94% | 3.87% | 3.96% | 3.39% | 1.38% |
Frequently Asked Questions
BNDY and IBTM have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNDY has higher volatility (1.82%) compared to IBTM (1.37%). In terms of maximum drawdown, BNDY dropped -3.93% vs IBTM's -13.60%.
On 1-year performance, BNDY leads with 6.78% vs 3.05% for IBTM. On fees, IBTM is cheaper at 0.07% per year. On volatility, IBTM has been the lower-risk option at 1.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BNDY has performed better with a 6.78% return vs 3.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTM is cheaper with a 0.07% expense ratio, compared with 0.66% for BNDY.
BNDY has the higher dividend yield at 5.87%, compared with 3.94% for IBTM.
They also come from different issuers: Horizon and iShares. Their fees differ too: 0.66% for BNDY and 0.07% for IBTM.
BNDY currently has the higher Sharpe Ratio (1.34 vs 0.76), 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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