DEFR vs. IMTB

Last updated Aug 4, 2026

DEFR (Aptus Deferred Income ETF) and IMTB (iShares Core 5-10 Year USD Bond ETF) are both Intermediate Core-Plus Bond funds. DEFR is actively managed, while IMTB is passively managed. Over the past year, DEFR returned 3.04% vs 3.02% for IMTB. Their 0.73 correlation means they have sometimes moved together and sometimes differently. DEFR charges 0.79%/yr vs 0.06%/yr for IMTB.

Performance

DEFR vs. IMTB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus Deferred Income ETF (DEFR) and iShares Core 5-10 Year USD Bond ETF (IMTB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DEFR having a -0.51% return and IMTB slightly higher at -0.49%.

DEFR

• 1D: 0.40%
• 1M: -0.45%
• 6M: -0.49%
• YTD: -0.51%
• 1Y: 3.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.10%

IMTB

• 1D: 0.20%
• 1M: -0.94%
• 6M: -0.66%
• YTD: -0.49%
• 1Y: 3.02%
• 3Y*: 4.82%
• 5Y*: 0.18%
• 10Y*: —
• ALL TIME*: 1.77%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DEFR Aptus Deferred Income ETF	$436.74K	$502.40K	$592.65K
IMTB iShares Core 5-10 Year USD Bond ETF	$1.97M	$1.47M	$1.46M

DEFR vs. IMTB - Yearly Performance Comparison

	2026 (YTD)	2025
DEFR Aptus Deferred Income ETF	-0.51%	6.80%
IMTB iShares Core 5-10 Year USD Bond ETF	-0.49%	6.57%

Correlation

The correlation between DEFR and IMTB is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (All Time) Calculated using the full available price history since May 14, 2025	0.73

The correlation between DEFR and IMTB has been stable across timeframes, ranging from 0.72 to 0.73 - a consistent structural relationship.

Return for Risk

DEFR vs. IMTB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DEFR

DEFR Risk / Return Rank: 24
DEFR Sharpe Ratio Rank: 25
DEFR Sortino Ratio Rank: 23
DEFR Omega Ratio Rank: 23
DEFR Calmar Ratio Rank: 24
DEFR Martin Ratio Rank: 22

IMTB

IMTB Risk / Return Rank: 30
IMTB Sharpe Ratio Rank: 30
IMTB Sortino Ratio Rank: 29
IMTB Omega Ratio Rank: 27
IMTB Calmar Ratio Rank: 31
IMTB Martin Ratio Rank: 30

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DEFR vs. IMTB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus Deferred Income ETF (DEFR) and iShares Core 5-10 Year USD Bond ETF (IMTB). 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.

	DEFR	IMTB	Difference
Sharpe ratio: Return per unit of total volatility	0.63	0.75	-0.12
Sortino ratio: Return per unit of downside risk	0.91	1.10	-0.19
Omega ratio: Gain probability vs. loss probability	1.11	1.13	-0.02
Calmar ratio: Return relative to maximum drawdown	0.78	1.06	-0.28
Martin ratio: Return relative to average drawdown	1.73	2.70	-0.97

DEFR vs. IMTB - Sharpe Ratio Comparison

The current DEFR Sharpe Ratio is 0.63, which is comparable to the IMTB Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of DEFR and IMTB, 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

DEFR vs. IMTB - Drawdown Comparison

The maximum DEFR drawdown since its inception was -3.90%, smaller than the maximum IMTB drawdown of -18.15%. Use the drawdown chart below to compare losses from any high point for DEFR and IMTB.

Drawdown Indicators

	DEFR	IMTB	Difference
Max Drawdown Largest peak-to-trough decline	-3.90%	-18.15%	+14.25%
Max Drawdown (1Y) Largest decline over 1 year	-3.90%	-2.86%	-1.04%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.83%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.02%	—
Current Drawdown Current decline from peak	-2.80%	-2.20%	-0.60%
Average Drawdown Average peak-to-trough decline	-1.16%	-4.09%	+2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	1.12%	+0.64%

Volatility

DEFR vs. IMTB - Volatility Comparison

Aptus Deferred Income ETF (DEFR) has a higher volatility of 1.28% compared to iShares Core 5-10 Year USD Bond ETF (IMTB) at 1.11%. This indicates that DEFR's price experiences larger fluctuations and is considered to be riskier than IMTB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEFR	IMTB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	1.11%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	3.46%	3.30%	+0.16%
Volatility (1Y) Calculated over the trailing 1-year period	4.90%	4.07%	+0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.24%	6.33%	-1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.24%	5.17%	+0.07%

DEFR vs. IMTB - Expense Ratio Comparison

DEFR has a 0.79% expense ratio, which is higher than IMTB's 0.06% expense ratio.

Dividends

DEFR vs. IMTB - Dividend Comparison

DEFR has not paid dividends to shareholders, while IMTB's dividend yield for the trailing twelve months is around 4.57%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DEFR Aptus Deferred Income ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IMTB iShares Core 5-10 Year USD Bond ETF	4.57%	4.40%	4.42%	4.13%	2.90%	2.49%	2.63%	2.91%	3.04%	2.75%	0.40%

Frequently Asked Questions

Can I hold both DEFR and IMTB in my portfolio?

DEFR and IMTB have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEFR or IMTB?

DEFR has higher volatility (1.28%) compared to IMTB (1.11%). In terms of maximum drawdown, DEFR dropped -3.90% vs IMTB's -18.15%.

Which ETF is better, DEFR or IMTB?

On 1-year performance, DEFR leads with 3.04% vs 3.02% for IMTB. On fees, IMTB is cheaper at 0.06% per year. On volatility, IMTB has been the lower-risk option at 1.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEFR or IMTB?

Over the 1-year period, DEFR has performed better with a 3.04% return vs 3.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEFR or IMTB?

IMTB is cheaper with a 0.06% expense ratio, compared with 0.79% for DEFR.

Which ETF pays a higher dividend yield, DEFR or IMTB?

IMTB has the higher dividend yield at 4.57%, compared with 0.00% for DEFR.

What is the main difference between DEFR and IMTB?

They also come from different issuers: Aptus and iShares. Their fees differ too: 0.79% for DEFR and 0.06% for IMTB.

Which has better risk-adjusted returns?

IMTB currently has the higher Sharpe Ratio (0.75 vs 0.63), 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.