IBGA vs. IBIT

Last updated Aug 2, 2026

IBGA (iShares iBonds Dec 2044 Term Treasury ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - IBGA is a Intermediate Core Bond fund tracking the ICE 2044 Maturity US Treasury Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, IBGA returned -1.15% vs -44.50% for IBIT. Their 0.01 correlation means their historical movements had little consistent relationship. IBGA charges 0.07%/yr vs 0.25%/yr for IBIT.

Performance

IBGA vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2044 Term Treasury ETF (IBGA) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBGA achieves a -2.95% return, which is significantly higher than IBIT's -28.22% return.

IBGA

• 1D: -0.67%
• 1M: -3.25%
• 6M: -3.11%
• YTD: -2.95%
• 1Y: -1.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 0.33%

IBIT

• 1D: -2.89%
• 1M: 2.21%
• 6M: -24.95%
• YTD: -28.22%
• 1Y: -44.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBGA iShares iBonds Dec 2044 Term Treasury ETF	$314.51K	$271.73K	$362.95K
IBIT iShares Bitcoin Trust ETF	$1.30B	$1.34B	$1.68B

IBGA vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBGA iShares iBonds Dec 2044 Term Treasury ETF	-2.95%	6.09%	-2.18%
IBIT iShares Bitcoin Trust ETF	-28.22%	-6.41%	38.04%

Correlation

The correlation between IBGA and IBIT is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.08
Correlation (All Time) Calculated using the full available price history since Jun 12, 2024	0.01

Return for Risk

IBGA vs. IBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IBGA

IBGA Risk / Return Rank: 11
IBGA Sharpe Ratio Rank: 11
IBGA Sortino Ratio Rank: 10
IBGA Omega Ratio Rank: 10
IBGA Calmar Ratio Rank: 11
IBGA Martin Ratio Rank: 11

IBIT

IBIT Risk / Return Rank: 1
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 1
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IBGA vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2044 Term Treasury ETF (IBGA) and iShares Bitcoin Trust ETF (IBIT). 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.

	IBGA	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	0.02	-1.04	+1.06
Sortino ratio: Return per unit of downside risk	0.08	-1.57	+1.66
Omega ratio: Gain probability vs. loss probability	1.01	0.83	+0.18
Calmar ratio: Return relative to maximum drawdown	0.02	-0.87	+0.89
Martin ratio: Return relative to average drawdown	0.05	-1.34	+1.38

IBGA vs. IBIT - Sharpe Ratio Comparison

The current IBGA Sharpe Ratio is 0.02, which is higher than the IBIT Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of IBGA and IBIT, 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

IBGA vs. IBIT - Drawdown Comparison

The maximum IBGA drawdown since its inception was -11.69%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for IBGA and IBIT.

Drawdown Indicators

	IBGA	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-11.69%	-53.30%	+41.61%
Max Drawdown (1Y) Largest decline over 1 year	-6.60%	-53.30%	+46.70%
Current Drawdown Current decline from peak	-7.14%	-50.01%	+42.87%
Average Drawdown Average peak-to-trough decline	-5.02%	-18.24%	+13.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	34.66%	-31.76%

Volatility

IBGA vs. IBIT - Volatility Comparison

The current volatility for iShares iBonds Dec 2044 Term Treasury ETF (IBGA) is 2.09%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.21%. This indicates that IBGA experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBGA	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	9.21%	-7.12%
Volatility (6M) Calculated over the trailing 6-month period	6.05%	33.74%	-27.69%
Volatility (1Y) Calculated over the trailing 1-year period	7.88%	44.46%	-36.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.74%	49.60%	-39.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.74%	49.60%	-39.86%

IBGA vs. IBIT - Expense Ratio Comparison

IBGA has a 0.07% expense ratio, which is lower than IBIT's 0.25% 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

IBGA vs. IBIT - Dividend Comparison

IBGA's dividend yield for the trailing twelve months is around 4.80%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024
IBGA iShares iBonds Dec 2044 Term Treasury ETF	4.39%	4.49%	2.03%
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBGA and IBIT in my portfolio?

IBGA and IBIT have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBGA or IBIT?

IBIT has higher volatility (9.21%) compared to IBGA (2.09%). In terms of maximum drawdown, IBGA dropped -11.69% vs IBIT's -53.30%.

Which ETF is better, IBGA or IBIT?

On 1-year performance, IBGA leads with -1.15% vs -44.50% for IBIT. On fees, IBGA is cheaper at 0.07% per year. On volatility, IBGA has been the lower-risk option at 2.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBGA or IBIT?

Over the 1-year period, IBGA has performed better with a -1.15% return vs -44.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBGA or IBIT?

IBGA is cheaper with a 0.07% expense ratio, compared with 0.25% for IBIT.

Which ETF pays a higher dividend yield, IBGA or IBIT?

IBGA has the higher dividend yield at 4.39%, compared with 0.00% for IBIT.

What is the main difference between IBGA and IBIT?

IBGA is categorized as Intermediate Core Bond, while IBIT is Cryptocurrency. IBGA tracks ICE 2044 Maturity US Treasury Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.07% for IBGA and 0.25% for IBIT.

Which has better risk-adjusted returns?

IBGA currently has the higher Sharpe Ratio (0.02 vs -1.04), 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.