IBIK vs. IBII

Last updated Jun 5, 2026

IBIK (iShares iBonds Oct 2034 Term TIPS ETF) and IBII (iShares iBonds Oct 2032 Term TIPS ETF) are both Inflation-Protected Bonds funds from iShares - IBIK tracks the iBonds Oct 2034 Term TIPS Index while IBII tracks the ICE 2032 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, IBIK returned 5.54% vs 5.28% for IBII. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.10% expense ratio.

Performance

IBIK vs. IBII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2034 Term TIPS ETF (IBIK) and iShares iBonds Oct 2032 Term TIPS ETF (IBII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBIK achieves a 1.43% return, which is significantly lower than IBII's 1.63% return.

IBIK

• 1D: -0.02%
• 1M: -0.29%
• YTD: 1.43%
• 6M: 1.01%
• 1Y: 5.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBII

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

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

IBIK vs. IBII - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBIK iShares iBonds Oct 2034 Term TIPS ETF	1.43%	8.78%	1.43%
IBII iShares iBonds Oct 2032 Term TIPS ETF	1.63%	8.65%	2.04%

Correlation

The correlation between IBIK and IBII is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since May 28, 2024	0.96

The correlation between IBIK and IBII has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.

Return for Risk

IBIK vs. IBII — Risk / Return Rank

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

IBIK

IBIK Risk / Return Rank: 42
IBIK Sharpe Ratio Rank: 38
IBIK Sortino Ratio Rank: 40
IBIK Omega Ratio Rank: 36
IBIK Calmar Ratio Rank: 46
IBIK Martin Ratio Rank: 47

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

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.

IBIK vs. IBII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2034 Term TIPS ETF (IBIK) and iShares iBonds Oct 2032 Term TIPS ETF (IBII). 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.

	IBIK	IBII	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.56	-0.22
Sortino ratio: Return per unit of downside risk	2.01	2.37	-0.37
Omega ratio: Gain probability vs. loss probability	1.23	1.28	-0.05
Calmar ratio: Return relative to maximum drawdown	2.22	2.68	-0.45
Martin ratio: Return relative to average drawdown	7.74	9.32	-1.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBIK vs. IBII - Sharpe Ratio Comparison

The current IBIK Sharpe Ratio is 1.33, which is comparable to the IBII Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of IBIK and IBII, 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

	IBIK	IBII	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	1.56	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	1.12	-0.04

Drawdowns

IBIK vs. IBII - Drawdown Comparison

The maximum IBIK drawdown since its inception was -5.59%, which is greater than IBII's maximum drawdown of -4.65%. Use the drawdown chart below to compare losses from any high point for IBIK and IBII.

Drawdown Indicators

	IBIK	IBII	Difference
Max Drawdown Largest peak-to-trough decline	-5.59%	-4.65%	-0.94%
Max Drawdown (1Y) Largest decline over 1 year	-2.50%	-1.98%	-0.52%
Current Drawdown Current decline from peak	-0.67%	-0.65%	-0.02%
Average Drawdown Average peak-to-trough decline	-1.24%	-1.12%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	0.58%	+0.14%

Volatility

IBIK vs. IBII - Volatility Comparison

iShares iBonds Oct 2034 Term TIPS ETF (IBIK) has a higher volatility of 1.19% compared to iShares iBonds Oct 2032 Term TIPS ETF (IBII) at 0.89%. This indicates that IBIK's price experiences larger fluctuations and is considered to be riskier than IBII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBIK	IBII	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	0.89%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	2.82%	2.29%	+0.53%
Volatility (1Y) Calculated over the trailing 1-year period	4.20%	3.42%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.33%	5.42%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.33%	5.42%	-0.09%

IBIK vs. IBII - Expense Ratio Comparison

Both IBIK and IBII 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

IBIK vs. IBII - Dividend Comparison

IBIK's dividend yield for the trailing twelve months is around 3.73%, less than IBII's 4.05% yield.

Position	TTM	2025	2024	2023
IBII iShares iBonds Oct 2032 Term TIPS ETF	4.05%	4.80%	4.76%	1.10%
IBIK iShares iBonds Oct 2034 Term TIPS ETF	3.73%	4.43%	2.67%	0.00%

Frequently Asked Questions

Can I hold both IBIK and IBII in my portfolio?

With a correlation of 0.96, IBIK and IBII 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.

Which is riskier, IBIK or IBII?

IBIK has higher volatility (1.19%) compared to IBII (0.89%). In terms of maximum drawdown, IBIK dropped -5.59% vs IBII's -4.65%.

Which ETF is better, IBIK or IBII?

On 1-year performance, IBIK leads with 5.54% vs 5.28% for IBII. Both ETFs have the same 0.10% expense ratio. 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, IBIK or IBII?

Over the 1-year period, IBIK has performed better with a 5.54% return vs 5.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBIK or IBII?

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

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

IBII has the higher dividend yield at 4.05%, compared with 3.73% for IBIK.

What is the main difference between IBIK and IBII?

IBIK tracks iBonds Oct 2034 Term TIPS Index, while IBII tracks ICE 2032 Maturity US Inflation-Linked Treasury Index.

Which has better risk-adjusted returns?

IBII currently has the higher Sharpe Ratio (1.56 vs 1.33), 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.