IBGK vs. IBGB

Last updated Jun 4, 2026

IBGK (iShares iBonds Dec 2054 Term Treasury ETF) and IBGB (iShares iBonds Dec 2045 Term Treasury ETF) are both exchange-traded funds - IBGK is a Long-Term Bond fund tracking the ICE 2054 Maturity US Treasury Index, while IBGB is a Government Bonds fund tracking the ICE 2045 Maturity US Treasury Index. Both are passively managed. Over the past year, IBGK returned 4.74% vs 5.38% for IBGB. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.07% expense ratio.

Performance

IBGK vs. IBGB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2054 Term Treasury ETF (IBGK) and iShares iBonds Dec 2045 Term Treasury ETF (IBGB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBGK achieves a -0.36% return, which is significantly higher than IBGB's -0.40% return.

IBGK

• 1D: -0.34%
• 1M: 0.75%
• YTD: -0.36%
• 6M: -1.89%
• 1Y: 4.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBGB

• 1D: -0.37%
• 1M: 0.61%
• YTD: -0.40%
• 6M: -1.50%
• 1Y: 5.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBGK vs. IBGB - Yearly Performance Comparison

	2026 (YTD)	2025
IBGK iShares iBonds Dec 2054 Term Treasury ETF	-0.36%	1.32%
IBGB iShares iBonds Dec 2045 Term Treasury ETF	-0.40%	2.71%

Correlation

The correlation between IBGK and IBGB is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.99

The correlation between IBGK and IBGB has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

IBGK vs. IBGB — Risk / Return Rank

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

IBGK

IBGK Risk / Return Rank: 17
IBGK Sharpe Ratio Rank: 17
IBGK Sortino Ratio Rank: 17
IBGK Omega Ratio Rank: 16
IBGK Calmar Ratio Rank: 17
IBGK Martin Ratio Rank: 17

IBGB

IBGB Risk / Return Rank: 20
IBGB Sharpe Ratio Rank: 20
IBGB Sortino Ratio Rank: 20
IBGB Omega Ratio Rank: 19
IBGB Calmar Ratio Rank: 19
IBGB Martin Ratio Rank: 20

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.

IBGK vs. IBGB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2054 Term Treasury ETF (IBGK) and iShares iBonds Dec 2045 Term Treasury ETF (IBGB). 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.

	IBGK	IBGB	Difference
Sharpe ratio: Return per unit of total volatility	0.51	0.64	-0.13
Sortino ratio: Return per unit of downside risk	0.80	0.98	-0.18
Omega ratio: Gain probability vs. loss probability	1.09	1.11	-0.02
Calmar ratio: Return relative to maximum drawdown	0.65	0.80	-0.14
Martin ratio: Return relative to average drawdown	1.63	2.15	-0.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBGK vs. IBGB - Sharpe Ratio Comparison

The current IBGK Sharpe Ratio is 0.51, which is comparable to the IBGB Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of IBGK and IBGB, 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

	IBGK	IBGB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.51	0.64	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.20	-0.18

Drawdowns

IBGK vs. IBGB - Drawdown Comparison

The maximum IBGK drawdown since its inception was -14.62%, which is greater than IBGB's maximum drawdown of -8.09%. Use the drawdown chart below to compare losses from any high point for IBGK and IBGB.

Drawdown Indicators

	IBGK	IBGB	Difference
Max Drawdown Largest peak-to-trough decline	-14.62%	-8.09%	-6.53%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-6.79%	-0.50%
Current Drawdown Current decline from peak	-9.19%	-4.18%	-5.01%
Average Drawdown Average peak-to-trough decline	-8.06%	-3.17%	-4.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	2.51%	+0.41%

Volatility

IBGK vs. IBGB - Volatility Comparison

iShares iBonds Dec 2054 Term Treasury ETF (IBGK) and iShares iBonds Dec 2045 Term Treasury ETF (IBGB) have volatilities of 2.70% and 2.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBGK	IBGB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	2.61%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	6.20%	5.79%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	9.36%	8.44%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.81%	9.53%	+2.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.81%	9.53%	+2.28%

IBGK vs. IBGB - Expense Ratio Comparison

Both IBGK and IBGB have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IBGK vs. IBGB - Dividend Comparison

IBGK's dividend yield for the trailing twelve months is around 4.72%, more than IBGB's 4.63% yield.

Position	TTM	2025	2024
IBGB iShares iBonds Dec 2045 Term Treasury ETF	4.63%	3.53%	0.00%
IBGK iShares iBonds Dec 2054 Term Treasury ETF	4.72%	4.59%	3.15%

Frequently Asked Questions

Can I hold both IBGK and IBGB in my portfolio?

With a correlation of 0.99, IBGK and IBGB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IBGK or IBGB?

IBGK has higher volatility (2.70%) compared to IBGB (2.61%). In terms of maximum drawdown, IBGK dropped -14.62% vs IBGB's -8.09%.

Which ETF is better, IBGK or IBGB?

On 1-year performance, IBGB leads with 5.38% vs 4.74% for IBGK. Both ETFs have the same 0.07% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBGK or IBGB?

Over the 1-year period, IBGB has performed better with a 5.38% return vs 4.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBGK or IBGB?

IBGK and IBGB have the same expense ratio: 0.07% per year.

Which ETF pays a higher dividend yield, IBGK or IBGB?

IBGK has the higher dividend yield at 4.72%, compared with 4.63% for IBGB.

What is the main difference between IBGK and IBGB?

IBGK is categorized as Long-Term Bond, while IBGB is Government Bonds. IBGK tracks ICE 2054 Maturity US Treasury Index, while IBGB tracks ICE 2045 Maturity US Treasury Index.

Which has better risk-adjusted returns?

IBGB currently has the higher Sharpe Ratio (0.64 vs 0.51), 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.