IBDQ vs. SPY

Last updated Jun 4, 2026

IBDQ (iShares iBonds Dec 2025 Term Corporate ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - IBDQ is a Corporate Bonds fund tracking the Bloomberg December 2025 Maturity Corporate, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. At a 0.05 correlation, their price movements are largely independent. IBDQ charges 0.10%/yr vs 0.09%/yr for SPY.

Performance

IBDQ vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2025 Term Corporate ETF (IBDQ) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBDQ

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

IBDQ vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IBDQ iShares iBonds Dec 2025 Term Corporate ETF	0.00%	4.13%	5.12%	5.23%	-5.91%	-1.49%	8.27%	13.59%	-2.39%	6.28%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between IBDQ and SPY is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Mar 13, 2015	0.05

The correlation between IBDQ and SPY shifts across timeframes, from 0.05 (all time) to 0.17 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

IBDQ vs. SPY — Risk / Return Rank

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

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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.

IBDQ vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2025 Term Corporate ETF (IBDQ) and State Street SPDR S&P 500 ETF (SPY). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IBDQ	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.38	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.82	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.59	—

Drawdowns

Drawdown Indicators

	IBDQ	SPY	Difference
Max Drawdown Largest peak-to-trough decline	—	-55.19%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.88%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	—	-0.70%	—
Average Drawdown Average peak-to-trough decline	—	-9.05%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.91%	—

Volatility

Volatility by Period

	IBDQ	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.84%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	11.83%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.05%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	17.94%	—

IBDQ vs. SPY - Expense Ratio Comparison

IBDQ has a 0.10% expense ratio, which is higher than SPY's 0.09% 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

IBDQ vs. SPY - Dividend Comparison

IBDQ's dividend yield for the trailing twelve months is around 2.08%, more than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBDQ iShares iBonds Dec 2025 Term Corporate ETF	2.08%	3.77%	3.81%	3.27%	2.23%	2.07%	2.51%	3.21%	3.52%	3.28%	3.39%	2.64%
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both IBDQ and SPY in my portfolio?

IBDQ and SPY have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBDQ or SPY?

On fees, SPY is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBDQ or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.10% for IBDQ.

Which ETF pays a higher dividend yield, IBDQ or SPY?

IBDQ has the higher dividend yield at 2.08%, compared with 0.98% for SPY.

What is the main difference between IBDQ and SPY?

IBDQ is categorized as Corporate Bonds, while SPY is S&P 500. IBDQ tracks Bloomberg December 2025 Maturity Corporate, while SPY tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.10% for IBDQ and 0.09% for SPY.