IBDR vs. IBMN
IBDR (iShares iBonds Dec 2026 Term Corporate ETF) and IBMN (iShares iBonds Dec 2025 Term Muni Bond ETF) are both exchange-traded funds - IBDR is a Corporate Bonds fund tracking the Barclays December 2026 Maturity Corporate Index, while IBMN is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Dec 2025 Index. Both are passively managed. Over the past 5 years, IBDR returned 1.50%/yr vs 0.47%/yr for IBMN. At a 0.36 correlation, their price movements are largely independent. IBDR charges 0.10%/yr vs 0.18%/yr for IBMN.
Performance
IBDR vs. IBMN - Performance Comparison
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Returns By Period
IBDR
- 1D
- -0.04%
- 1M
- 0.25%
- YTD
- 1.44%
- 6M
- 1.80%
- 1Y
- 4.38%
- 3Y*
- 5.07%
- 5Y*
- 1.50%
- 10Y*
- —
IBMN
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 1.20%
- 3Y*
- 2.44%
- 5Y*
- 0.47%
- 10Y*
- —
IBDR vs. IBMN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 1.44% | 4.99% | 4.98% | 5.96% | -8.28% | -1.79% | 8.88% | 14.81% | 1.35% |
IBMN iShares iBonds Dec 2025 Term Muni Bond ETF | 0.00% | 2.49% | 2.33% | 2.42% | -4.43% | -0.41% | 4.83% | 6.87% | 2.91% |
Correlation
The correlation between IBDR and IBMN is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2018 | 0.36 |
The correlation between IBDR and IBMN shifts across timeframes, from -0.07 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBDR vs. IBMN — Risk / Return Rank
IBDR
IBMN
IBDR vs. IBMN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Corporate ETF (IBDR) and iShares iBonds Dec 2025 Term Muni Bond ETF (IBMN). 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.
| IBDR | IBMN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.80 | ||
| Sortino ratioReturn per unit of downside risk | +11.08 | ||
| Omega ratioGain probability vs. loss probability | 3.40 | 1.66 | +1.74 |
| Calmar ratioReturn relative to maximum drawdown | 53.28 | 6.02 | +47.27 |
| Martin ratioReturn relative to average drawdown | 185.24 | 24.21 | +161.02 |
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
| IBDR | IBMN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.93 | 2.12 | +4.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.28 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.58 | +0.03 |
Drawdowns
IBDR vs. IBMN - Drawdown Comparison
The maximum IBDR drawdown since its inception was -16.06%, which is greater than IBMN's maximum drawdown of -12.40%. Use the drawdown chart below to compare losses from any high point for IBDR and IBMN.
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Drawdown Indicators
| IBDR | IBMN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.06% | -12.40% | -3.66% |
Max Drawdown (1Y)Largest decline over 1 year | -0.08% | -0.25% | +0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -1.08% | -1.10% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -13.13% | -7.36% | -5.77% |
Current DrawdownCurrent decline from peak | -0.04% | -0.05% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -2.84% | -1.81% | -1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.10% | -0.08% |
Volatility
IBDR vs. IBMN - Volatility Comparison
iShares iBonds Dec 2026 Term Corporate ETF (IBDR) has a higher volatility of 0.15% compared to iShares iBonds Dec 2025 Term Muni Bond ETF (IBMN) at 0.00%. This indicates that IBDR's price experiences larger fluctuations and is considered to be riskier than IBMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBDR | IBMN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 0.00% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 0.34% | 0.50% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.64% | 0.71% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.40% | 1.80% | +1.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.86% | 3.89% | +0.97% |
IBDR vs. IBMN - Expense Ratio Comparison
IBDR has a 0.10% expense ratio, which is lower than IBMN's 0.18% 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
IBDR vs. IBMN - Dividend Comparison
IBDR's dividend yield for the trailing twelve months is around 4.13%, more than IBMN's 1.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 4.13% | 4.20% | 4.13% | 3.41% | 2.44% | 2.11% | 2.61% | 3.25% | 3.56% | 3.22% | 0.86% |
IBMN iShares iBonds Dec 2025 Term Muni Bond ETF | 1.14% | 2.03% | 2.03% | 1.72% | 0.97% | 0.70% | 1.11% | 1.65% | 0.23% | 0.00% | 0.00% |
Frequently Asked Questions
IBDR and IBMN have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBDR has higher volatility (0.15%) compared to IBMN (0.00%). In terms of maximum drawdown, IBDR dropped -16.06% vs IBMN's -12.40%.
On 5-year performance, IBDR leads with 1.50% vs 0.47% for IBMN. On fees, IBDR is cheaper at 0.10% per year. On volatility, IBMN 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, IBDR has performed better with a 1.50% return vs 0.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBDR is cheaper with a 0.10% expense ratio, compared with 0.18% for IBMN.
IBDR has the higher dividend yield at 4.13%, compared with 1.14% for IBMN.
IBDR is categorized as Corporate Bonds, while IBMN is Municipal Bonds. IBDR tracks Barclays December 2026 Maturity Corporate Index, while IBMN tracks S&P AMT-Free Municipal Series Dec 2025 Index. Their fees differ too: 0.10% for IBDR and 0.18% for IBMN.
IBDR currently has the higher Sharpe Ratio (6.93 vs 2.12), 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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