IBGM vs. IWM

Last updated Jul 1, 2026

IBGM (iShares iBonds Dec 2056 Term Treasury ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - IBGM is a Government Bonds fund tracking the ICE 2056 Maturity US Treasury Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. At a 0.48 correlation, their price movements are largely independent. IBGM charges 0.07%/yr vs 0.19%/yr for IWM.

Performance

IBGM vs. IWM - 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 Russell 2000 ETF (IWM). 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*: —

IWM

• 1D: 0.50%
• 1M: 3.70%
• YTD: 22.56%
• 6M: 21.64%
• 1Y: 40.68%
• 3Y*: 18.46%
• 5Y*: 6.68%
• 10Y*: 11.49%

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

IBGM vs. IWM - Yearly Performance Comparison

	2026 (YTD)
IBGM iShares iBonds Dec 2056 Term Treasury ETF	1.45%
IWM iShares Russell 2000 ETF	19.60%

Correlation

The correlation between IBGM and IWM is 0.48, 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 26, 2026	0.48

Return for Risk

IBGM vs. IWM — 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.

IWM

IWM Risk / Return Rank: 77
IWM Sharpe Ratio Rank: 77
IWM Sortino Ratio Rank: 76
IWM Omega Ratio Rank: 68
IWM Calmar Ratio Rank: 82
IWM Martin Ratio Rank: 80

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. IWM - 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 Russell 2000 ETF (IWM). 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	IWM	Difference
Sharpe ratio: Return per unit of total volatility	—	2.09	—
Sortino ratio: Return per unit of downside risk	—	2.86	—
Omega ratio: Gain probability vs. loss probability	—	1.34	—
Calmar ratio: Return relative to maximum drawdown	—	3.71	—
Martin ratio: Return relative to average drawdown	—	13.11	—

Drawdowns

IBGM vs. IWM - Drawdown Comparison

The maximum IBGM drawdown since its inception was -4.36%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for IBGM and IWM.

Drawdown Indicators

	IBGM	IWM	Difference
Max Drawdown Largest peak-to-trough decline	-4.36%	-59.05%	+54.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.03%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-27.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.13%	—
Current Drawdown Current decline from peak	-1.17%	0.00%	-1.17%
Average Drawdown Average peak-to-trough decline	-1.09%	-10.74%	+9.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.11%	—

Volatility

Volatility by Period

	IBGM	IWM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.64%	19.60%	-10.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.64%	22.60%	-13.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.64%	23.02%	-14.38%

IBGM vs. IWM - Expense Ratio Comparison

IBGM has a 0.07% expense ratio, which is lower than IWM's 0.19% 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. IWM - Dividend Comparison

IBGM's dividend yield for the trailing twelve months is around 0.80%, less than IWM's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBGM iShares iBonds Dec 2056 Term Treasury ETF	0.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IWM iShares Russell 2000 ETF	0.88%	1.04%	1.15%	1.35%	1.48%	0.94%	1.04%	1.26%	1.40%	1.26%	1.38%	1.54%

Frequently Asked Questions

Can I hold both IBGM and IWM in my portfolio?

IBGM and IWM have a correlation of 0.48, 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 IWM?

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 IWM?

IBGM is cheaper with a 0.07% expense ratio, compared with 0.19% for IWM.

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

IWM has the higher dividend yield at 0.88%, compared with 0.80% for IBGM.

What is the main difference between IBGM and IWM?

IBGM is categorized as Government Bonds, while IWM is Small Cap Blend Equities. IBGM tracks ICE 2056 Maturity US Treasury Index, while IWM tracks Russell 2000 Index. Their fees differ too: 0.07% for IBGM and 0.19% for IWM.