GOVT vs. IBTF
GOVT (iShares U.S. Treasury Bond ETF) and IBTF (iShares iBonds Dec 2025 Term Treasury ETF) are both Government Bonds funds from iShares - GOVT tracks the ICE U.S. Treasury Core Bond Index while IBTF tracks the ICE 2025 Maturity US Treasury Index. Both are passively managed. Over the past 5 years, GOVT returned -0.94%/yr vs 0.81%/yr for IBTF. Their 0.62 correlation means they have sometimes moved together and sometimes differently. GOVT charges 0.05%/yr vs 0.07%/yr for IBTF.
Performance
GOVT vs. IBTF - Performance Comparison
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Returns By Period
GOVT
- 1D
- -0.24%
- 1M
- -1.06%
- 6M
- -0.78%
- YTD
- -0.74%
- 1Y
- 1.07%
- 3Y*
- 3.05%
- 5Y*
- -0.94%
- 10Y*
- 0.68%
- ALL TIME*
- 1.18%
IBTF
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- 1.44%
- 3Y*
- 3.75%
- 5Y*
- 0.81%
- 10Y*
- —
- ALL TIME*
- 1.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $167.09M | $164.37M | $191.03M | |
| $0.00 | $0.00 | $0.00 |
GOVT vs. IBTF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | -0.74% | 3.77% | 2.95% | 4.17% | -13.39% | -1.11% | 3.03% |
IBTF iShares iBonds Dec 2025 Term Treasury ETF | 0.00% | 3.81% | 4.60% | 4.12% | -6.39% | -2.31% | 3.85% |
Correlation
The correlation between GOVT and IBTF is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2020 | 0.62 |
The correlation between GOVT and IBTF shifts across timeframes, from -0.06 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GOVT vs. IBTF — Risk / Return Rank
GOVT
IBTF
GOVT vs. IBTF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Treasury Bond ETF (GOVT) and iShares iBonds Dec 2025 Term Treasury ETF (IBTF). 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.
| GOVT | IBTF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.48 | ||
| Sortino ratioReturn per unit of downside risk | -19.71 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 7.18 | -6.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 40.36 | -39.68 |
| Martin ratioReturn relative to average drawdown | 1.61 | 261.59 | -259.97 |
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Drawdowns
GOVT vs. IBTF - Drawdown Comparison
The maximum GOVT drawdown since its inception was -19.07%, which is greater than IBTF's maximum drawdown of -10.45%. Use the drawdown chart below to compare losses from any high point for GOVT and IBTF.
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Drawdown Indicators
| GOVT | IBTF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.07% | -10.45% | -8.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -0.04% | -2.81% |
Max Drawdown (3Y)Largest decline over 3 years | -4.90% | -0.43% | -4.47% |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | -9.49% | -7.11% |
Max Drawdown (10Y)Largest decline over 10 years | -19.07% | — | — |
Current DrawdownCurrent decline from peak | -7.75% | 0.00% | -7.75% |
Average DrawdownAverage peak-to-trough decline | -5.27% | -3.24% | -2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 0.01% | +1.19% |
Volatility
GOVT vs. IBTF - Volatility Comparison
iShares U.S. Treasury Bond ETF (GOVT) has a higher volatility of 0.95% compared to iShares iBonds Dec 2025 Term Treasury ETF (IBTF) at 0.00%. This indicates that GOVT's price experiences larger fluctuations and is considered to be riskier than IBTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVT | IBTF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 0.00% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 0.06% | +2.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.55% | 0.29% | +3.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 2.35% | +3.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.21% | 2.53% | +2.68% |
GOVT vs. IBTF - Expense Ratio Comparison
GOVT has a 0.05% expense ratio, which is lower than IBTF'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
GOVT vs. IBTF - Dividend Comparison
GOVT's dividend yield for the trailing twelve months is around 3.63%, more than IBTF's 1.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | 3.33% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
IBTF iShares iBonds Dec 2025 Term Treasury ETF | 1.37% | 3.83% | 4.32% | 4.03% | 1.93% | 0.57% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GOVT and IBTF have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVT has higher volatility (0.95%) compared to IBTF (0.00%). In terms of maximum drawdown, GOVT dropped -19.07% vs IBTF's -10.45%.
On 5-year performance, IBTF leads with 0.81% vs -0.94% for GOVT. On fees, GOVT is cheaper at 0.05% per year. On volatility, IBTF has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBTF has performed better with a 0.81% return vs -0.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVT is cheaper with a 0.05% expense ratio, compared with 0.07% for IBTF.
GOVT has the higher dividend yield at 3.33%, compared with 1.37% for IBTF.
GOVT tracks ICE U.S. Treasury Core Bond Index, while IBTF tracks ICE 2025 Maturity US Treasury Index. Their fees differ too: 0.05% for GOVT and 0.07% for IBTF.
IBTF currently has the higher Sharpe Ratio (6.02 vs 0.55), 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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