IBII vs. IBIE

Last updated Jun 24, 2026

IBII (iShares iBonds Oct 2032 Term TIPS ETF) and IBIE (iShares iBonds Oct 2028 Term TIPS ETF) are both Inflation-Protected Bonds funds from iShares - IBII tracks the ICE 2032 Maturity US Inflation-Linked Treasury Index while IBIE tracks the ICE 2028 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, IBII returned 3.71% vs 3.57% for IBIE. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.10% expense ratio.

Performance

IBII vs. IBIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2032 Term TIPS ETF (IBII) and iShares iBonds Oct 2028 Term TIPS ETF (IBIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBII achieves a 0.60% return, which is significantly lower than IBIE's 1.37% return.

IBII

• 1D: -0.08%
• 1M: -0.52%
• YTD: 0.60%
• 6M: 0.67%
• 1Y: 3.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIE

• 1D: -0.02%
• 1M: -0.27%
• YTD: 1.37%
• 6M: 1.49%
• 1Y: 3.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBII vs. IBIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBII iShares iBonds Oct 2032 Term TIPS ETF	0.60%	8.65%	1.21%	4.85%
IBIE iShares iBonds Oct 2028 Term TIPS ETF	1.37%	6.46%	3.95%	3.31%

Correlation

The correlation between IBII and IBIE is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023	0.84

The correlation between IBII and IBIE shifts across timeframes, from 0.74 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IBII vs. IBIE — Risk / Return Rank

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

IBII

IBII Risk / Return Rank: 35
IBII Sharpe Ratio Rank: 32
IBII Sortino Ratio Rank: 31
IBII Omega Ratio Rank: 30
IBII Calmar Ratio Rank: 41
IBII Martin Ratio Rank: 40

IBIE

IBIE Risk / Return Rank: 86
IBIE Sharpe Ratio Rank: 78
IBIE Sortino Ratio Rank: 90
IBIE Omega Ratio Rank: 86
IBIE Calmar Ratio Rank: 90
IBIE Martin Ratio Rank: 88

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.

IBII vs. IBIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2032 Term TIPS ETF (IBII) and iShares iBonds Oct 2028 Term TIPS ETF (IBIE). 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.

	IBII	IBIE	Difference
Sharpe ratio: Return per unit of total volatility	1.07	2.25	-1.18
Sortino ratio: Return per unit of downside risk	1.59	3.80	-2.21
Omega ratio: Gain probability vs. loss probability	1.19	1.47	-0.28
Calmar ratio: Return relative to maximum drawdown	1.88	4.99	-3.12
Martin ratio: Return relative to average drawdown	5.97	17.70	-11.73

IBII vs. IBIE - Sharpe Ratio Comparison

The current IBII Sharpe Ratio is 1.07, which is lower than the IBIE Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of IBII and IBIE, 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

IBII vs. IBIE - Drawdown Comparison

The maximum IBII drawdown since its inception was -4.65%, which is greater than IBIE's maximum drawdown of -1.70%. Use the drawdown chart below to compare losses from any high point for IBII and IBIE.

Drawdown Indicators

	IBII	IBIE	Difference
Max Drawdown Largest peak-to-trough decline	-4.65%	-1.70%	-2.95%
Max Drawdown (1Y) Largest decline over 1 year	-1.98%	-0.72%	-1.26%
Current Drawdown Current decline from peak	-1.66%	-0.72%	-0.94%
Average Drawdown Average peak-to-trough decline	-1.12%	-0.39%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	0.20%	+0.42%

Volatility

IBII vs. IBIE - Volatility Comparison

iShares iBonds Oct 2032 Term TIPS ETF (IBII) has a higher volatility of 1.36% compared to iShares iBonds Oct 2028 Term TIPS ETF (IBIE) at 0.57%. This indicates that IBII's price experiences larger fluctuations and is considered to be riskier than IBIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBII	IBIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	0.57%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	2.53%	1.08%	+1.45%
Volatility (1Y) Calculated over the trailing 1-year period	3.48%	1.60%	+1.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.42%	2.85%	+2.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.42%	2.85%	+2.57%

IBII vs. IBIE - Expense Ratio Comparison

Both IBII and IBIE have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IBII vs. IBIE - Dividend Comparison

IBII's dividend yield for the trailing twelve months is around 4.09%, more than IBIE's 3.27% yield.

Position	TTM	2025	2024	2023
IBIE iShares iBonds Oct 2028 Term TIPS ETF	3.27%	4.09%	4.23%	0.75%
IBII iShares iBonds Oct 2032 Term TIPS ETF	4.09%	4.80%	4.76%	1.10%

Frequently Asked Questions

Can I hold both IBII and IBIE in my portfolio?

IBII and IBIE have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBII or IBIE?

IBII has higher volatility (1.36%) compared to IBIE (0.57%). In terms of maximum drawdown, IBII dropped -4.65% vs IBIE's -1.70%.

Which ETF is better, IBII or IBIE?

On 1-year performance, IBII leads with 3.71% vs 3.57% for IBIE. Both ETFs have the same 0.10% expense ratio. On volatility, IBIE has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBII or IBIE?

Over the 1-year period, IBII has performed better with a 3.71% return vs 3.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBII or IBIE?

IBII and IBIE have the same expense ratio: 0.10% per year.

Which ETF pays a higher dividend yield, IBII or IBIE?

IBII has the higher dividend yield at 4.09%, compared with 3.27% for IBIE.

What is the main difference between IBII and IBIE?

IBII tracks ICE 2032 Maturity US Inflation-Linked Treasury Index, while IBIE tracks ICE 2028 Maturity US Inflation-Linked Treasury Index.

Which has better risk-adjusted returns?

IBIE currently has the higher Sharpe Ratio (2.25 vs 1.07), 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.