IBDZ vs. IBDR

Last updated Jun 4, 2026

IBDZ (iShares iBonds Dec 2034 Term Corporate ETF) and IBDR (iShares iBonds Dec 2026 Term Corporate ETF) are both Corporate Bonds funds from iShares - IBDZ tracks the iBonds Dec 2034 Term Corporate Index while IBDR tracks the Barclays December 2026 Maturity Corporate Index. Both are passively managed. Over the past year, IBDZ returned 6.65% vs 4.38% for IBDR. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.

Performance

IBDZ vs. IBDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2034 Term Corporate ETF (IBDZ) and iShares iBonds Dec 2026 Term Corporate ETF (IBDR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBDZ achieves a 0.34% return, which is significantly lower than IBDR's 1.44% return.

IBDZ

• 1D: -0.19%
• 1M: 0.37%
• YTD: 0.34%
• 6M: 0.33%
• 1Y: 6.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBDR

• 1D: -0.04%
• 1M: 0.25%
• YTD: 1.44%
• 6M: 1.80%
• 1Y: 4.38%
• 3Y*: 5.07%
• 5Y*: 1.50%
• 10Y*: —

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

IBDZ vs. IBDR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBDZ iShares iBonds Dec 2034 Term Corporate ETF	0.34%	8.84%	4.23%
IBDR iShares iBonds Dec 2026 Term Corporate ETF	1.44%	4.99%	4.25%

Correlation

The correlation between IBDZ and IBDR is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since May 28, 2024	0.49

Over the past year, the correlation between IBDZ and IBDR has dropped to 0.15 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.

Return for Risk

IBDZ vs. IBDR — Risk / Return Rank

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

IBDZ

IBDZ Risk / Return Rank: 42
IBDZ Sharpe Ratio Rank: 40
IBDZ Sortino Ratio Rank: 42
IBDZ Omega Ratio Rank: 38
IBDZ Calmar Ratio Rank: 45
IBDZ Martin Ratio Rank: 44

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

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.

IBDZ vs. IBDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2034 Term Corporate ETF (IBDZ) and iShares iBonds Dec 2026 Term Corporate ETF (IBDR). 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.

	IBDZ	IBDR	Difference
Sharpe ratio Return per unit of total volatility	1.41	6.93	-5.52
Sortino ratio Return per unit of downside risk	2.09	14.59	-12.50
Omega ratio Gain probability vs. loss probability	1.24	3.40	-2.16
Calmar ratio Return relative to maximum drawdown	2.19	53.28	-51.09
Martin ratio Return relative to average drawdown	7.12	185.24	-178.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBDZ vs. IBDR - Sharpe Ratio Comparison

The current IBDZ Sharpe Ratio is 1.41, which is lower than the IBDR Sharpe Ratio of 6.93. The chart below compares the historical Sharpe Ratios of IBDZ and IBDR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBDZ	IBDR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	6.93	-5.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.61	+0.45

Drawdowns

IBDZ vs. IBDR - Drawdown Comparison

The maximum IBDZ drawdown since its inception was -5.57%, smaller than the maximum IBDR drawdown of -16.06%. Use the drawdown chart below to compare losses from any high point for IBDZ and IBDR.

Drawdown Indicators

	IBDZ	IBDR	Difference
Max Drawdown Largest peak-to-trough decline	-5.57%	-16.06%	+10.49%
Max Drawdown (1Y) Largest decline over 1 year	-3.04%	-0.08%	-2.96%
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	-1.26%	-0.04%	-1.22%
Average Drawdown Average peak-to-trough decline	-1.28%	-2.84%	+1.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	0.02%	+0.92%

Volatility

IBDZ vs. IBDR - Volatility Comparison

iShares iBonds Dec 2034 Term Corporate ETF (IBDZ) has a higher volatility of 1.43% compared to iShares iBonds Dec 2026 Term Corporate ETF (IBDR) at 0.15%. This indicates that IBDZ's price experiences larger fluctuations and is considered to be riskier than IBDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBDZ	IBDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	0.15%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	3.32%	0.34%	+2.98%
Volatility (1Y) Calculated over the trailing 1-year period	4.74%	0.64%	+4.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.27%	3.40%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.27%	4.86%	+1.41%

IBDZ vs. IBDR - Expense Ratio Comparison

Both IBDZ and IBDR have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IBDZ vs. IBDR - Dividend Comparison

IBDZ's dividend yield for the trailing twelve months is around 4.86%, more than IBDR's 4.13% 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%
IBDZ iShares iBonds Dec 2034 Term Corporate ETF	4.86%	4.85%	2.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBDZ and IBDR in my portfolio?

IBDZ and IBDR have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBDZ or IBDR?

IBDZ has higher volatility (1.43%) compared to IBDR (0.15%). In terms of maximum drawdown, IBDZ dropped -5.57% vs IBDR's -16.06%.

Which ETF is better, IBDZ or IBDR?

On 1-year performance, IBDZ leads with 6.65% vs 4.38% for IBDR. Both ETFs have the same 0.10% expense ratio. On volatility, IBDR has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBDZ or IBDR?

Over the 1-year period, IBDZ has performed better with a 6.65% return vs 4.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBDZ or IBDR?

IBDZ and IBDR have the same expense ratio: 0.10% per year.

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

IBDZ has the higher dividend yield at 4.86%, compared with 4.13% for IBDR.

What is the main difference between IBDZ and IBDR?

IBDZ tracks iBonds Dec 2034 Term Corporate Index, while IBDR tracks Barclays December 2026 Maturity Corporate Index.

Which has better risk-adjusted returns?

IBDR currently has the higher Sharpe Ratio (6.93 vs 1.41), 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.