IBDR vs. IGCB

Last updated Jun 24, 2026

IBDR (iShares iBonds Dec 2026 Term Corporate ETF) and IGCB (TCW Corporate Bond ETF) are both Corporate Bonds funds - IBDR tracks the Barclays December 2026 Maturity Corporate Index while IGCB tracks the Actively Managed. Both are passively managed. Over the past year, IBDR returned 4.30% vs 4.47% for IGCB. At a 0.30 correlation, their price movements are largely independent. IBDR charges 0.10%/yr vs 0.35%/yr for IGCB.

Performance

IBDR vs. IGCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2026 Term Corporate ETF (IBDR) and TCW Corporate Bond ETF (IGCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBDR achieves a 1.69% return, which is significantly higher than IGCB's 0.26% return.

IBDR

• 1D: 0.04%
• 1M: 0.29%
• YTD: 1.69%
• 6M: 1.81%
• 1Y: 4.30%
• 3Y*: 5.17%
• 5Y*: 1.58%
• 10Y*: —

IGCB

• 1D: 0.10%
• 1M: 0.69%
• YTD: 0.26%
• 6M: 0.52%
• 1Y: 4.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBDR vs. IGCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBDR iShares iBonds Dec 2026 Term Corporate ETF	1.69%	4.99%	0.71%
IGCB TCW Corporate Bond ETF	0.26%	8.42%	-0.26%

Correlation

The correlation between IBDR and IGCB 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 (All Time) Calculated using the full available price history since Nov 18, 2024	0.30

Over the past year, the correlation between IBDR and IGCB has dropped to 0.07 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Return for Risk

IBDR vs. IGCB — Risk / Return Rank

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

IBDR

IBDR Risk / Return Rank: 99
IBDR Sharpe Ratio Rank: 99
IBDR Sortino Ratio Rank: 99
IBDR Omega Ratio Rank: 99
IBDR Calmar Ratio Rank: 99
IBDR Martin Ratio Rank: 99

IGCB

IGCB Risk / Return Rank: 34
IGCB Sharpe Ratio Rank: 35
IGCB Sortino Ratio Rank: 34
IGCB Omega Ratio Rank: 33
IGCB Calmar Ratio Rank: 33
IGCB Martin Ratio Rank: 33

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.

IBDR vs. IGCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Corporate ETF (IBDR) and TCW Corporate Bond ETF (IGCB). 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.

	IBDR	IGCB	Difference
Sharpe ratio: Return per unit of total volatility	6.83	1.17	+5.66
Sortino ratio: Return per unit of downside risk	14.31	1.67	+12.64
Omega ratio: Gain probability vs. loss probability	3.36	1.21	+2.15
Calmar ratio: Return relative to maximum drawdown	52.23	1.54	+50.69
Martin ratio: Return relative to average drawdown	181.59	4.55	+177.03

IBDR vs. IGCB - Sharpe Ratio Comparison

The current IBDR Sharpe Ratio is 6.83, which is higher than the IGCB Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of IBDR and IGCB, 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

IBDR vs. IGCB - Drawdown Comparison

The maximum IBDR drawdown since its inception was -16.06%, which is greater than IGCB's maximum drawdown of -4.20%. Use the drawdown chart below to compare losses from any high point for IBDR and IGCB.

Drawdown Indicators

	IBDR	IGCB	Difference
Max Drawdown Largest peak-to-trough decline	-16.06%	-4.20%	-11.86%
Max Drawdown (1Y) Largest decline over 1 year	-0.08%	-2.91%	+2.83%
Max Drawdown (3Y) Largest decline over 3 years	-1.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.13%	—	—
Current Drawdown Current decline from peak	0.00%	-1.13%	+1.13%
Average Drawdown Average peak-to-trough decline	-2.82%	-0.93%	-1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	0.98%	-0.96%

Volatility

IBDR vs. IGCB - Volatility Comparison

The current volatility for iShares iBonds Dec 2026 Term Corporate ETF (IBDR) is 0.18%, while TCW Corporate Bond ETF (IGCB) has a volatility of 1.07%. This indicates that IBDR experiences smaller price fluctuations and is considered to be less risky than IGCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBDR	IGCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.18%	1.07%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	0.35%	2.80%	-2.45%
Volatility (1Y) Calculated over the trailing 1-year period	0.63%	3.86%	-3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.39%	4.79%	-1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.85%	4.79%	+0.06%

IBDR vs. IGCB - Expense Ratio Comparison

IBDR has a 0.10% expense ratio, which is lower than IGCB's 0.35% expense ratio.

Dividends

IBDR vs. IGCB - Dividend Comparison

IBDR's dividend yield for the trailing twelve months is around 4.12%, less than IGCB's 4.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IBDR iShares iBonds Dec 2026 Term Corporate ETF	4.12%	4.20%	4.13%	3.41%	2.44%	2.11%	2.61%	3.25%	3.56%	3.22%	0.86%
IGCB TCW Corporate Bond ETF	4.74%	4.52%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBDR and IGCB in my portfolio?

IBDR and IGCB 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.

Which is riskier, IBDR or IGCB?

IGCB has higher volatility (1.07%) compared to IBDR (0.18%). In terms of maximum drawdown, IBDR dropped -16.06% vs IGCB's -4.20%.

Which ETF is better, IBDR or IGCB?

On 1-year performance, IGCB leads with 4.47% vs 4.30% for IBDR. On fees, IBDR is cheaper at 0.10% per year. On volatility, IBDR has been the lower-risk option at 0.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBDR or IGCB?

Over the 1-year period, IGCB has performed better with a 4.47% return vs 4.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBDR or IGCB?

IBDR is cheaper with a 0.10% expense ratio, compared with 0.35% for IGCB.

Which ETF pays a higher dividend yield, IBDR or IGCB?

IGCB has the higher dividend yield at 4.74%, compared with 4.12% for IBDR.

What is the main difference between IBDR and IGCB?

IBDR tracks Barclays December 2026 Maturity Corporate Index, while IGCB tracks Actively Managed. They also come from different issuers: iShares and TCW. Their fees differ too: 0.10% for IBDR and 0.35% for IGCB.

Which has better risk-adjusted returns?

IBDR currently has the higher Sharpe Ratio (6.83 vs 1.17), 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.