IBGM vs. IBIT

Last updated Jul 1, 2026

IBGM (iShares iBonds Dec 2056 Term Treasury ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - IBGM is a Government Bonds fund tracking the ICE 2056 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 0.07 correlation, their price movements are largely independent. IBGM charges 0.07%/yr vs 0.25%/yr for IBIT.

Performance

IBGM vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2056 Term Treasury ETF (IBGM) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBGM

• 1D: -1.17%
• 1M: 1.41%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIT

• 1D: -2.60%
• 1M: -20.03%
• YTD: -32.95%
• 6M: -33.19%
• 1Y: -45.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBGM vs. IBIT - Yearly Performance Comparison

	2026 (YTD)
IBGM iShares iBonds Dec 2056 Term Treasury ETF	1.45%
IBIT iShares Bitcoin Trust ETF	-17.13%

Correlation

The correlation between IBGM and IBIT is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 26, 2026	0.07

Return for Risk

IBGM vs. IBIT — Risk / Return Rank

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

IBGM

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

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 1
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.

IBGM vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2056 Term Treasury ETF (IBGM) 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.

	IBGM	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	—	-1.03	—
Sortino ratio: Return per unit of downside risk	—	-1.55	—
Omega ratio: Gain probability vs. loss probability	—	0.83	—
Calmar ratio: Return relative to maximum drawdown	—	-0.86	—
Martin ratio: Return relative to average drawdown	—	-1.45	—

Drawdowns

IBGM vs. IBIT - Drawdown Comparison

The maximum IBGM drawdown since its inception was -4.36%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for IBGM and IBIT.

Drawdown Indicators

	IBGM	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-4.36%	-53.30%	+48.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-53.30%	—
Current Drawdown Current decline from peak	-1.17%	-53.30%	+52.13%
Average Drawdown Average peak-to-trough decline	-1.09%	-17.14%	+16.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	31.47%	—

Volatility

Volatility by Period

	IBGM	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.64%	44.45%	-35.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.64%	50.13%	-41.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.64%	50.13%	-41.49%

IBGM vs. IBIT - Expense Ratio Comparison

IBGM 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

IBGM vs. IBIT - Dividend Comparison

IBGM's dividend yield for the trailing twelve months is around 0.80%, while IBIT has not paid dividends to shareholders.

Position	TTM
IBGM iShares iBonds Dec 2056 Term Treasury ETF	0.80%
IBIT iShares Bitcoin Trust ETF	0.00%

Frequently Asked Questions

Can I hold both IBGM and IBIT in my portfolio?

IBGM and IBIT have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBGM or IBIT?

On fees, IBGM 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, IBGM or IBIT?

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

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

IBGM has the higher dividend yield at 0.80%, compared with 0.00% for IBIT.

What is the main difference between IBGM and IBIT?

IBGM is categorized as Government Bonds, while IBIT is Cryptocurrency. IBGM tracks ICE 2056 Maturity US Treasury Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.07% for IBGM and 0.25% for IBIT.