IBGC vs. IBIT

Last updated Jun 6, 2026

IBGC (iShares iBonds Dec 2046 Term Treasury ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - IBGC is a Government Bonds fund tracking the ICE 2046 Maturity US Treasury Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. At a 0.25 correlation, their price movements are largely independent. IBGC charges 0.07%/yr vs 0.25%/yr for IBIT.

Performance

IBGC vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2046 Term Treasury ETF (IBGC) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBGC

• 1D: -0.63%
• 1M: -1.05%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIT

• 1D: -5.22%
• 1M: -26.09%
• YTD: -31.24%
• 6M: -32.65%
• 1Y: -41.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBGC vs. IBIT - Yearly Performance Comparison

	2026 (YTD)
IBGC iShares iBonds Dec 2046 Term Treasury ETF	0.21%
IBIT iShares Bitcoin Trust ETF	-12.06%

Correlation

The correlation between IBGC and IBIT is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 27, 2026	0.25

Return for Risk

IBGC vs. IBIT — Risk / Return Rank

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

IBIT

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

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.

IBGC vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2046 Term Treasury ETF (IBGC) 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.

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

Sharpe Ratios by Period

	IBGC	IBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.94	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.22	-0.09

Drawdowns

IBGC vs. IBIT - Drawdown Comparison

The maximum IBGC drawdown since its inception was -4.29%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for IBGC and IBIT.

Drawdown Indicators

	IBGC	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-4.29%	-52.11%	+47.82%
Max Drawdown (1Y) Largest decline over 1 year	—	-52.11%	—
Current Drawdown Current decline from peak	-1.88%	-52.11%	+50.23%
Average Drawdown Average peak-to-trough decline	-1.27%	-16.13%	+14.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	28.80%	—

Volatility

Volatility by Period

	IBGC	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.40%	44.04%	-35.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.40%	50.26%	-41.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.40%	50.26%	-41.86%

IBGC vs. IBIT - Expense Ratio Comparison

IBGC 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

IBGC vs. IBIT - Dividend Comparison

IBGC's dividend yield for the trailing twelve months is around 0.81%, while IBIT has not paid dividends to shareholders.

Position	TTM
IBGC iShares iBonds Dec 2046 Term Treasury ETF	0.81%
IBIT iShares Bitcoin Trust ETF	0.00%

Frequently Asked Questions

Can I hold both IBGC and IBIT in my portfolio?

IBGC and IBIT have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBGC or IBIT?

On fees, IBGC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBGC or IBIT?

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

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

IBGC has the higher dividend yield at 0.81%, compared with 0.00% for IBIT.

What is the main difference between IBGC and IBIT?

IBGC is categorized as Government Bonds, while IBIT is Cryptocurrency. IBGC tracks ICE 2046 Maturity US Treasury Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.07% for IBGC and 0.25% for IBIT.