FTCB vs. IBTO

Last updated Jun 3, 2026

FTCB (First Trust Core Investment Grade ETF) and IBTO (iShares iBonds Dec 2033 Term Treasury ETF) are both Intermediate Core Bond funds. FTCB is actively managed, while IBTO is passively managed. Over the past year, FTCB returned 6.13% vs 4.17% for IBTO. Their correlation of 0.92 suggests significant overlap in exposure. FTCB charges 0.55%/yr vs 0.07%/yr for IBTO.

Performance

FTCB vs. IBTO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Core Investment Grade ETF (FTCB) 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, FTCB achieves a 0.36% return, which is significantly higher than IBTO's -0.37% return.

FTCB

• 1D: 0.00%
• 1M: -0.02%
• YTD: 0.36%
• 6M: 0.52%
• 1Y: 6.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBTO

• 1D: 0.04%
• 1M: -0.23%
• YTD: -0.37%
• 6M: -0.63%
• 1Y: 4.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTCB vs. IBTO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FTCB First Trust Core Investment Grade ETF	0.36%	8.12%	2.57%	5.74%
IBTO iShares iBonds Dec 2033 Term Treasury ETF	-0.37%	8.23%	-0.87%	5.70%

Correlation

The correlation between FTCB and IBTO is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Nov 9, 2023	0.92

The correlation between FTCB and IBTO has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

FTCB vs. IBTO — Risk / Return Rank

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

FTCB

FTCB Risk / Return Rank: 41
FTCB Sharpe Ratio Rank: 43
FTCB Sortino Ratio Rank: 45
FTCB Omega Ratio Rank: 41
FTCB Calmar Ratio Rank: 38
FTCB Martin Ratio Rank: 37

IBTO

IBTO Risk / Return Rank: 24
IBTO Sharpe Ratio Rank: 26
IBTO Sortino Ratio Rank: 26
IBTO Omega Ratio Rank: 24
IBTO Calmar Ratio Rank: 23
IBTO Martin Ratio Rank: 23

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.

FTCB vs. IBTO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Core Investment Grade ETF (FTCB) 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.

	FTCB	IBTO	Difference
Sharpe ratio Return per unit of total volatility	1.52	0.94	+0.58
Sortino ratio Return per unit of downside risk	2.26	1.42	+0.84
Omega ratio Gain probability vs. loss probability	1.27	1.16	+0.11
Calmar ratio Return relative to maximum drawdown	1.91	1.05	+0.86
Martin ratio Return relative to average drawdown	5.99	3.08	+2.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTCB vs. IBTO - Sharpe Ratio Comparison

The current FTCB Sharpe Ratio is 1.52, which is higher than the IBTO Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of FTCB 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

	FTCB	IBTO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	0.94	+0.58
Sharpe Ratio (All Time) Calculated using the full available price history	1.27	0.44	+0.83

Drawdowns

FTCB vs. IBTO - Drawdown Comparison

The maximum FTCB drawdown since its inception was -4.99%, smaller than the maximum IBTO drawdown of -8.36%. Use the drawdown chart below to compare losses from any high point for FTCB and IBTO.

Drawdown Indicators

	FTCB	IBTO	Difference
Max Drawdown Largest peak-to-trough decline	-4.99%	-8.36%	+3.37%
Max Drawdown (1Y) Largest decline over 1 year	-3.04%	-3.66%	+0.62%
Current Drawdown Current decline from peak	-1.53%	-2.43%	+0.90%
Average Drawdown Average peak-to-trough decline	-1.26%	-2.37%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	1.25%	-0.28%

Volatility

FTCB vs. IBTO - Volatility Comparison

First Trust Core Investment Grade ETF (FTCB) and iShares iBonds Dec 2033 Term Treasury ETF (IBTO) have volatilities of 1.36% and 1.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTCB	IBTO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	1.33%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.92%	3.04%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	4.05%	4.47%	-0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.20%	6.62%	-1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.20%	6.62%	-1.42%

FTCB vs. IBTO - Expense Ratio Comparison

FTCB has a 0.55% expense ratio, which is higher than IBTO's 0.07% expense ratio.

Dividends

FTCB vs. IBTO - Dividend Comparison

FTCB's dividend yield for the trailing twelve months is around 5.30%, more than IBTO's 4.14% yield.

Position	TTM	2025	2024	2023
FTCB First Trust Core Investment Grade ETF	5.30%	4.99%	5.19%	0.35%
IBTO iShares iBonds Dec 2033 Term Treasury ETF	4.14%	4.05%	4.23%	1.66%

Frequently Asked Questions

Can I hold both FTCB and IBTO in my portfolio?

With a correlation of 0.91, FTCB 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, FTCB or IBTO?

FTCB has higher volatility (1.36%) compared to IBTO (1.33%). In terms of maximum drawdown, FTCB dropped -4.99% vs IBTO's -8.36%.

Which ETF is better, FTCB or IBTO?

On 1-year performance, FTCB leads with 6.13% vs 4.17% for IBTO. On fees, IBTO is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTCB or IBTO?

Over the 1-year period, FTCB has performed better with a 6.13% return vs 4.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTCB or IBTO?

IBTO is cheaper with a 0.07% expense ratio, compared with 0.55% for FTCB.

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

FTCB has the higher dividend yield at 5.30%, compared with 4.14% for IBTO.

What is the main difference between FTCB and IBTO?

They also come from different issuers: First Trust and iShares. Their fees differ too: 0.55% for FTCB and 0.07% for IBTO.

Which has better risk-adjusted returns?

FTCB currently has the higher Sharpe Ratio (1.52 vs 0.94), 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.