IBCA vs. IBTM
Compare and contrast key facts about iShares iBonds Dec 2035 Term Corporate ETF (IBCA) and iShares iBonds Dec 2032 Term Treasury ETF (IBTM).
IBCA and IBTM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IBCA is a passively managed fund by iShares that tracks the performance of the ICE 2035 Maturity US Corporate Index. It was launched on Mar 25, 2025. IBTM is a passively managed fund by iShares that tracks the performance of the ICE 2032 Maturity US Treasury Index. It was launched on Jul 6, 2022. Both IBCA and IBTM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IBCA vs. IBTM - Performance Comparison
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IBCA vs. IBTM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBCA iShares iBonds Dec 2035 Term Corporate ETF | -0.39% | 7.15% |
IBTM iShares iBonds Dec 2032 Term Treasury ETF | -0.01% | 5.22% |
Returns By Period
In the year-to-date period, IBCA achieves a -0.39% return, which is significantly lower than IBTM's -0.01% return.
IBCA
- 1D
- 0.67%
- 1M
- -2.00%
- YTD
- -0.39%
- 6M
- 0.76%
- 1Y
- 5.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBTM
- 1D
- 0.24%
- 1M
- -1.91%
- YTD
- -0.01%
- 6M
- 1.01%
- 1Y
- 4.15%
- 3Y*
- 2.45%
- 5Y*
- —
- 10Y*
- —
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IBCA vs. IBTM - Expense Ratio Comparison
IBCA has a 0.10% expense ratio, which is higher than IBTM's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
IBCA vs. IBTM — Risk / Return Rank
IBCA
IBTM
IBCA vs. IBTM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2035 Term Corporate ETF (IBCA) 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.
| IBCA | IBTM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 0.88 | +0.15 |
Sortino ratioReturn per unit of downside risk | 1.44 | 1.29 | +0.14 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.15 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.57 | +0.14 |
Martin ratioReturn relative to average drawdown | 5.77 | 4.42 | +1.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBCA | IBTM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 0.88 | +0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 0.22 | +0.91 |
Correlation
The correlation between IBCA and IBTM is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
IBCA vs. IBTM - Dividend Comparison
IBCA's dividend yield for the trailing twelve months is around 4.01%, more than IBTM's 3.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBCA iShares iBonds Dec 2035 Term Corporate ETF | 4.01% | 3.19% | 0.00% | 0.00% | 0.00% |
IBTM iShares iBonds Dec 2032 Term Treasury ETF | 3.91% | 3.87% | 3.96% | 3.39% | 1.38% |
Drawdowns
IBCA vs. IBTM - Drawdown Comparison
The maximum IBCA drawdown since its inception was -3.48%, smaller than the maximum IBTM drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for IBCA and IBTM.
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Drawdown Indicators
| IBCA | IBTM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.48% | -13.60% | +10.12% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -2.85% | -0.63% |
Current DrawdownCurrent decline from peak | -2.00% | -1.91% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -0.70% | -4.95% | +4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 1.01% | +0.02% |
Volatility
IBCA vs. IBTM - Volatility Comparison
iShares iBonds Dec 2035 Term Corporate ETF (IBCA) has a higher volatility of 2.48% compared to iShares iBonds Dec 2032 Term Treasury ETF (IBTM) at 1.54%. This indicates that IBCA'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
| IBCA | IBTM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.48% | 1.54% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 3.47% | 2.72% | +0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.88% | 4.77% | +1.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.91% | 7.69% | -1.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.91% | 7.69% | -1.78% |