IBCA vs. VTG

Last updated Jul 17, 2026

IBCA (iShares iBonds Dec 2035 Term Corporate ETF) and VTG (Vanguard Total Treasury ETF) are both exchange-traded funds - IBCA is a Intermediate Core Bond fund tracking the ICE 2035 Maturity US Corporate Index, while VTG is a Government Bonds fund tracking the Bloomberg U.S. Treasury Total Return Unhedged USD Index. Both are passively managed. Over the past year, IBCA returned 5.11% vs 3.29% for VTG. Their correlation of 0.90 suggests significant overlap in exposure. IBCA charges 0.10%/yr vs 0.03%/yr for VTG.

Performance

IBCA vs. VTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2035 Term Corporate ETF (IBCA) and Vanguard Total Treasury ETF (VTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBCA achieves a 0.05% return, which is significantly higher than VTG's -0.10% return.

IBCA

• 1D: -0.04%
• 1M: -0.57%
• 6M: -0.25%
• YTD: 0.05%
• 1Y: 5.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VTG

• 1D: -0.04%
• 1M: -0.48%
• 6M: -0.27%
• YTD: -0.10%
• 1Y: 3.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBCA vs. VTG - Yearly Performance Comparison

	2026 (YTD)	2025
IBCA iShares iBonds Dec 2035 Term Corporate ETF	0.05%	4.83%
VTG Vanguard Total Treasury ETF	-0.10%	3.07%

Correlation

The correlation between IBCA and VTG is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.90

The correlation between IBCA and VTG has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

Return for Risk

IBCA vs. VTG — Risk / Return Rank

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

IBCA

IBCA Risk / Return Rank: 36
IBCA Sharpe Ratio Rank: 36
IBCA Sortino Ratio Rank: 35
IBCA Omega Ratio Rank: 32
IBCA Calmar Ratio Rank: 38
IBCA Martin Ratio Rank: 38

VTG

VTG Risk / Return Rank: 29
VTG Sharpe Ratio Rank: 31
VTG Sortino Ratio Rank: 31
VTG Omega Ratio Rank: 28
VTG Calmar Ratio Rank: 28
VTG Martin Ratio Rank: 27

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.

IBCA vs. VTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2035 Term Corporate ETF (IBCA) and Vanguard Total Treasury ETF (VTG). 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.

	IBCA	VTG	Difference
Sharpe ratio: Return per unit of total volatility	1.05	0.94	+0.11
Sortino ratio: Return per unit of downside risk	1.55	1.41	+0.13
Omega ratio: Gain probability vs. loss probability	1.19	1.17	+0.02
Calmar ratio: Return relative to maximum drawdown	1.61	1.14	+0.47
Martin ratio: Return relative to average drawdown	4.75	2.94	+1.81

IBCA vs. VTG - Sharpe Ratio Comparison

The current IBCA Sharpe Ratio is 1.05, which is comparable to the VTG Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of IBCA and VTG, 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

IBCA vs. VTG - Drawdown Comparison

The maximum IBCA drawdown since its inception was -3.48%, which is greater than VTG's maximum drawdown of -2.89%. Use the drawdown chart below to compare losses from any high point for IBCA and VTG.

Drawdown Indicators

	IBCA	VTG	Difference
Max Drawdown Largest peak-to-trough decline	-3.48%	-2.89%	-0.59%
Max Drawdown (1Y) Largest decline over 1 year	-3.19%	-2.89%	-0.30%
Current Drawdown Current decline from peak	-1.56%	-1.88%	+0.32%
Average Drawdown Average peak-to-trough decline	-0.85%	-0.84%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	1.12%	-0.04%

Volatility

IBCA vs. VTG - Volatility Comparison

iShares iBonds Dec 2035 Term Corporate ETF (IBCA) has a higher volatility of 1.31% compared to Vanguard Total Treasury ETF (VTG) at 1.05%. This indicates that IBCA's price experiences larger fluctuations and is considered to be riskier than VTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBCA	VTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	1.05%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	3.82%	2.65%	+1.17%
Volatility (1Y) Calculated over the trailing 1-year period	4.88%	3.52%	+1.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.68%	3.52%	+2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.68%	3.52%	+2.16%

IBCA vs. VTG - Expense Ratio Comparison

IBCA has a 0.10% expense ratio, which is higher than VTG's 0.03% 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%.

Dividends

IBCA vs. VTG - Dividend Comparison

IBCA's dividend yield for the trailing twelve months is around 4.72%, more than VTG's 3.54% yield.

Position	TTM	2025
IBCA iShares iBonds Dec 2035 Term Corporate ETF	4.72%	3.19%
VTG Vanguard Total Treasury ETF	3.54%	1.65%

Frequently Asked Questions

Can I hold both IBCA and VTG in my portfolio?

IBCA and VTG have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBCA or VTG?

IBCA has higher volatility (1.31%) compared to VTG (1.05%). In terms of maximum drawdown, IBCA dropped -3.48% vs VTG's -2.89%.

Which ETF is better, IBCA or VTG?

On 1-year performance, IBCA leads with 5.11% vs 3.29% for VTG. On fees, VTG is cheaper at 0.03% per year. On volatility, VTG has been the lower-risk option at 1.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBCA or VTG?

Over the 1-year period, IBCA has performed better with a 5.11% return vs 3.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBCA or VTG?

VTG is cheaper with a 0.03% expense ratio, compared with 0.10% for IBCA.

Which ETF pays a higher dividend yield, IBCA or VTG?

IBCA has the higher dividend yield at 4.72%, compared with 3.54% for VTG.

What is the main difference between IBCA and VTG?

IBCA is categorized as Intermediate Core Bond, while VTG is Government Bonds. IBCA tracks ICE 2035 Maturity US Corporate Index, while VTG tracks Bloomberg U.S. Treasury Total Return Unhedged USD Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.10% for IBCA and 0.03% for VTG.

Which has better risk-adjusted returns?

IBCA currently has the higher Sharpe Ratio (1.05 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.