IBGL vs. UTWY
IBGL (iShares iBonds Dec 2055 Term Treasury ETF) and UTWY (F/m US Treasury 20 Year Bond ETF) are both Government Bonds funds - IBGL tracks the ICE 2055 Maturity US Treasury Index while UTWY tracks the Bloomberg US Treasury Bellwether 20 Year Index. Both are passively managed. Over the past year, IBGL returned -1.93% vs -1.24% for UTWY. Their 0.98 correlation means they have historically moved very closely together. IBGL charges 0.07%/yr vs 0.15%/yr for UTWY.
Performance
IBGL vs. UTWY - Performance Comparison
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Returns By Period
In the year-to-date period, IBGL achieves a -3.05% return, which is significantly lower than UTWY's -2.81% return.
IBGL
- 1D
- 0.39%
- 1M
- -3.47%
- 6M
- -2.70%
- YTD
- -3.05%
- 1Y
- -1.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.55%
UTWY
- 1D
- 0.43%
- 1M
- -2.81%
- 6M
- -2.47%
- YTD
- -2.81%
- 1Y
- -1.24%
- 3Y*
- 0.01%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.65K | $17.90K | $15.83K | |
| $116.12K | $62.48K | $64.76K |
IBGL vs. UTWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBGL iShares iBonds Dec 2055 Term Treasury ETF | -3.05% | 0.99% |
UTWY F/m US Treasury 20 Year Bond ETF | -2.81% | 1.73% |
Correlation
The correlation between IBGL and UTWY is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | 0.98 |
The correlation between IBGL and UTWY has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
IBGL vs. UTWY — Risk / Return Rank
IBGL
UTWY
IBGL vs. UTWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2055 Term Treasury ETF (IBGL) and F/m US Treasury 20 Year Bond ETF (UTWY). 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.
| IBGL | UTWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.98 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | -0.18 | -0.08 |
| Martin ratioReturn relative to average drawdown | -0.57 | -0.41 | -0.16 |
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Drawdowns
IBGL vs. UTWY - Drawdown Comparison
The maximum IBGL drawdown since its inception was -9.37%, smaller than the maximum UTWY drawdown of -18.19%. Use the drawdown chart below to compare losses from any high point for IBGL and UTWY.
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Drawdown Indicators
| IBGL | UTWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.37% | -18.19% | +8.82% |
Max Drawdown (1Y)Largest decline over 1 year | -7.44% | -6.72% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.88% | — |
Current DrawdownCurrent decline from peak | -7.08% | -8.08% | +1.00% |
Average DrawdownAverage peak-to-trough decline | -4.09% | -6.98% | +2.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 3.03% | +0.38% |
Volatility
IBGL vs. UTWY - Volatility Comparison
iShares iBonds Dec 2055 Term Treasury ETF (IBGL) has a higher volatility of 2.43% compared to F/m US Treasury 20 Year Bond ETF (UTWY) at 2.16%. This indicates that IBGL's price experiences larger fluctuations and is considered to be riskier than UTWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGL | UTWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.43% | 2.16% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 6.51% | 6.02% | +0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.79% | 7.74% | +1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.35% | 10.97% | -0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.35% | 10.97% | -0.62% |
IBGL vs. UTWY - Expense Ratio Comparison
IBGL has a 0.07% expense ratio, which is lower than UTWY's 0.15% 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
IBGL vs. UTWY - Dividend Comparison
IBGL's dividend yield for the trailing twelve months is around 4.88%, more than UTWY's 4.83% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBGL iShares iBonds Dec 2055 Term Treasury ETF | 4.88% | 3.52% | 0.00% | 0.00% |
UTWY F/m US Treasury 20 Year Bond ETF | 4.83% | 4.62% | 4.56% | 2.94% |
Frequently Asked Questions
With a correlation of 0.99, IBGL and UTWY 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.
IBGL has higher volatility (2.43%) compared to UTWY (2.16%). In terms of maximum drawdown, IBGL dropped -9.37% vs UTWY's -18.19%.
On 1-year performance, UTWY leads with -1.24% vs -1.93% for IBGL. On fees, IBGL is cheaper at 0.07% per year. On volatility, UTWY has been the lower-risk option at 2.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, UTWY has performed better with a -1.24% return vs -1.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGL is cheaper with a 0.07% expense ratio, compared with 0.15% for UTWY.
IBGL has the higher dividend yield at 4.88%, compared with 4.83% for UTWY.
IBGL tracks ICE 2055 Maturity US Treasury Index, while UTWY tracks Bloomberg US Treasury Bellwether 20 Year Index. They also come from different issuers: iShares and F/m. Their fees differ too: 0.07% for IBGL and 0.15% for UTWY.
UTWY currently has the higher Sharpe Ratio (-0.16 vs -0.22), 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.
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