IBGK vs. IBGL

Last updated Jun 24, 2026

IBGK (iShares iBonds Dec 2054 Term Treasury ETF) and IBGL (iShares iBonds Dec 2055 Term Treasury ETF) are both exchange-traded funds - IBGK is a Long-Term Bond fund tracking the ICE 2054 Maturity US Treasury Index, while IBGL is a Government Bonds fund tracking the ICE 2055 Maturity US Treasury Index. Both are passively managed. Over the past year, IBGK returned 3.71% vs 3.63% for IBGL. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.07% expense ratio.

Performance

IBGK vs. IBGL - 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 2055 Term Treasury ETF (IBGL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBGK achieves a 0.68% return, which is significantly lower than IBGL's 0.84% return.

IBGK

• 1D: 0.11%
• 1M: 2.23%
• YTD: 0.68%
• 6M: 0.42%
• 1Y: 3.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBGL

• 1D: 0.09%
• 1M: 2.24%
• YTD: 0.84%
• 6M: 0.49%
• 1Y: 3.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBGK vs. IBGL - Yearly Performance Comparison

	2026 (YTD)	2025
IBGK iShares iBonds Dec 2054 Term Treasury ETF	0.68%	0.61%
IBGL iShares iBonds Dec 2055 Term Treasury ETF	0.84%	0.99%

Correlation

The correlation between IBGK and IBGL is 1.00 - 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	1.00
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025	1.00

The correlation between IBGK and IBGL has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

IBGK vs. IBGL — Risk / Return Rank

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

IBGK

IBGK Risk / Return Rank: 14
IBGK Sharpe Ratio Rank: 15
IBGK Sortino Ratio Rank: 14
IBGK Omega Ratio Rank: 13
IBGK Calmar Ratio Rank: 15
IBGK Martin Ratio Rank: 15

IBGL

IBGL Risk / Return Rank: 14
IBGL Sharpe Ratio Rank: 15
IBGL Sortino Ratio Rank: 14
IBGL Omega Ratio Rank: 13
IBGL Calmar Ratio Rank: 15
IBGL Martin Ratio Rank: 15

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. IBGL - 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 2055 Term Treasury ETF (IBGL). 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.

	IBGK	IBGL	Difference
Sharpe ratio: Return per unit of total volatility	0.41	0.41	+0.01
Sortino ratio: Return per unit of downside risk	0.66	0.65	+0.01
Omega ratio: Gain probability vs. loss probability	1.07	1.07	0.00
Calmar ratio: Return relative to maximum drawdown	0.51	0.50	+0.01
Martin ratio: Return relative to average drawdown	1.22	1.20	+0.02

IBGK vs. IBGL - Sharpe Ratio Comparison

The current IBGK Sharpe Ratio is 0.41, which is comparable to the IBGL Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of IBGK and IBGL, 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

IBGK vs. IBGL - Drawdown Comparison

The maximum IBGK drawdown since its inception was -14.62%, which is greater than IBGL's maximum drawdown of -9.37%. Use the drawdown chart below to compare losses from any high point for IBGK and IBGL.

Drawdown Indicators

	IBGK	IBGL	Difference
Max Drawdown Largest peak-to-trough decline	-14.62%	-9.37%	-5.25%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-7.23%	-0.06%
Current Drawdown Current decline from peak	-8.25%	-3.36%	-4.89%
Average Drawdown Average peak-to-trough decline	-8.07%	-4.02%	-4.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	3.02%	+0.03%

Volatility

IBGK vs. IBGL - Volatility Comparison

iShares iBonds Dec 2054 Term Treasury ETF (IBGK) and iShares iBonds Dec 2055 Term Treasury ETF (IBGL) have volatilities of 2.08% and 2.07%, 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	IBGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.08%	2.07%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	6.32%	6.24%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	9.06%	8.99%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.73%	10.43%	+1.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.73%	10.43%	+1.30%

IBGK vs. IBGL - Expense Ratio Comparison

Both IBGK and IBGL 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. IBGL - Dividend Comparison

IBGK's dividend yield for the trailing twelve months is around 4.67%, which matches IBGL's 4.65% yield.

Position	TTM	2025	2024
IBGK iShares iBonds Dec 2054 Term Treasury ETF	4.67%	4.59%	3.15%
IBGL iShares iBonds Dec 2055 Term Treasury ETF	4.65%	3.52%	0.00%

Frequently Asked Questions

Can I hold both IBGK and IBGL in my portfolio?

With a correlation of 1.00, IBGK and IBGL 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 IBGL?

IBGK has higher volatility (2.08%) compared to IBGL (2.07%). In terms of maximum drawdown, IBGK dropped -14.62% vs IBGL's -9.37%.

Which ETF is better, IBGK or IBGL?

On 1-year performance, IBGK leads with 3.71% vs 3.63% for IBGL. 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 IBGL?

Over the 1-year period, IBGK has performed better with a 3.71% return vs 3.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBGK or IBGL?

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

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

IBGK has the higher dividend yield at 4.67%, compared with 4.65% for IBGL.

What is the main difference between IBGK and IBGL?

IBGK is categorized as Long-Term Bond, while IBGL is Government Bonds. IBGK tracks ICE 2054 Maturity US Treasury Index, while IBGL tracks ICE 2055 Maturity US Treasury Index.

Which has better risk-adjusted returns?

IBGK currently has the higher Sharpe Ratio (0.41 vs 0.41), 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.