IBII vs. IVOL

Last updated Jun 5, 2026

IBII (iShares iBonds Oct 2032 Term TIPS ETF) and IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) are both Inflation-Protected Bonds funds. IBII is passively managed, while IVOL is actively managed. Over the past year, IBII returned 5.28% vs -5.75% for IVOL. At a 0.46 correlation, their price movements are largely independent. IBII charges 0.10%/yr vs 0.99%/yr for IVOL.

Performance

IBII vs. IVOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2032 Term TIPS ETF (IBII) and Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBII achieves a 1.63% return, which is significantly higher than IVOL's -6.22% return.

IBII

• 1D: 0.02%
• 1M: -0.38%
• YTD: 1.63%
• 6M: 1.21%
• 1Y: 5.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVOL

• 1D: 0.11%
• 1M: -3.28%
• YTD: -6.22%
• 6M: -6.48%
• 1Y: -5.75%
• 3Y*: -3.70%
• 5Y*: -5.75%
• 10Y*: —

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

IBII vs. IVOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBII iShares iBonds Oct 2032 Term TIPS ETF	1.63%	8.65%	1.21%	4.85%
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	-6.22%	11.97%	-11.07%	4.76%

Correlation

The correlation between IBII and IVOL is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.46

The correlation between IBII and IVOL has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.

Return for Risk

IBII vs. IVOL — Risk / Return Rank

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

IBII

IBII Risk / Return Rank: 50
IBII Sharpe Ratio Rank: 46
IBII Sortino Ratio Rank: 49
IBII Omega Ratio Rank: 45
IBII Calmar Ratio Rank: 55
IBII Martin Ratio Rank: 55

IVOL

IVOL Risk / Return Rank: 3
IVOL Sharpe Ratio Rank: 3
IVOL Sortino Ratio Rank: 3
IVOL Omega Ratio Rank: 3
IVOL Calmar Ratio Rank: 4
IVOL 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.

IBII vs. IVOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2032 Term TIPS ETF (IBII) and Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). 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.

	IBII	IVOL	Difference
Sharpe ratio: Return per unit of total volatility	1.56	-0.84	+2.40
Sortino ratio: Return per unit of downside risk	2.37	-1.18	+3.55
Omega ratio: Gain probability vs. loss probability	1.28	0.87	+0.41
Calmar ratio: Return relative to maximum drawdown	2.68	-0.59	+3.26
Martin ratio: Return relative to average drawdown	9.32	-1.31	+10.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBII vs. IVOL - Sharpe Ratio Comparison

The current IBII Sharpe Ratio is 1.56, which is higher than the IVOL Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of IBII and IVOL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBII	IVOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	-0.84	+2.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	-0.11	+1.23

Drawdowns

IBII vs. IVOL - Drawdown Comparison

The maximum IBII drawdown since its inception was -4.65%, smaller than the maximum IVOL drawdown of -31.16%. Use the drawdown chart below to compare losses from any high point for IBII and IVOL.

Drawdown Indicators

	IBII	IVOL	Difference
Max Drawdown Largest peak-to-trough decline	-4.65%	-31.16%	+26.51%
Max Drawdown (1Y) Largest decline over 1 year	-1.98%	-9.81%	+7.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.62%	—
Current Drawdown Current decline from peak	-0.65%	-26.25%	+25.60%
Average Drawdown Average peak-to-trough decline	-1.12%	-13.31%	+12.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	4.42%	-3.84%

Volatility

IBII vs. IVOL - Volatility Comparison

The current volatility for iShares iBonds Oct 2032 Term TIPS ETF (IBII) is 0.89%, while Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) has a volatility of 1.10%. This indicates that IBII experiences smaller price fluctuations and is considered to be less risky than IVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBII	IVOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	1.10%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	2.29%	4.44%	-2.15%
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	6.90%	-3.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.42%	12.84%	-7.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.42%	11.99%	-6.57%

IBII vs. IVOL - Expense Ratio Comparison

IBII has a 0.10% expense ratio, which is lower than IVOL's 0.99% expense ratio.

Dividends

IBII vs. IVOL - Dividend Comparison

IBII's dividend yield for the trailing twelve months is around 4.05%, more than IVOL's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBII iShares iBonds Oct 2032 Term TIPS ETF	4.05%	4.80%	4.76%	1.10%	0.00%	0.00%	0.00%	0.00%
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	3.89%	3.61%	3.83%	3.73%	3.92%	3.93%	3.44%	2.02%

Frequently Asked Questions

Can I hold both IBII and IVOL in my portfolio?

IBII and IVOL have a correlation of 0.53, 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 IVOL?

IVOL has higher volatility (1.10%) compared to IBII (0.89%). In terms of maximum drawdown, IBII dropped -4.65% vs IVOL's -31.16%.

Which ETF is better, IBII or IVOL?

On 1-year performance, IBII leads with 5.28% vs -5.75% for IVOL. On fees, IBII is cheaper at 0.10% per year. On volatility, IBII has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBII or IVOL?

Over the 1-year period, IBII has performed better with a 5.28% return vs -5.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBII or IVOL?

IBII is cheaper with a 0.10% expense ratio, compared with 0.99% for IVOL.

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

IBII has the higher dividend yield at 4.05%, compared with 3.89% for IVOL.

What is the main difference between IBII and IVOL?

They also come from different issuers: iShares and CICC. Their fees differ too: 0.10% for IBII and 0.99% for IVOL.

Which has better risk-adjusted returns?

IBII currently has the higher Sharpe Ratio (1.56 vs -0.84), 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.