IBMM vs. ACWI

Last updated Jun 5, 2026

IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - IBMM is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Dec 2024 Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. IBMM charges 0.18%/yr vs 0.32%/yr for ACWI.

Performance

IBMM vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBMM

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ACWI

• 1D: 0.30%
• 1M: 4.45%
• YTD: 12.47%
• 6M: 13.07%
• 1Y: 29.24%
• 3Y*: 21.38%
• 5Y*: 11.35%
• 10Y*: 12.82%

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

IBMM vs. ACWI - Yearly Performance Comparison

	2026 (YTD)
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%
ACWI iShares MSCI ACWI ETF	8.78%

Return for Risk

IBMM vs. ACWI — Risk / Return Rank

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

ACWI

ACWI Risk / Return Rank: 70
ACWI Sharpe Ratio Rank: 71
ACWI Sortino Ratio Rank: 71
ACWI Omega Ratio Rank: 71
ACWI Calmar Ratio Rank: 62
ACWI Martin Ratio Rank: 73

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.

IBMM vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and iShares MSCI ACWI ETF (ACWI). 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.

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

Sharpe Ratios by Period

	IBMM	ACWI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.30	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.43	—

Drawdowns

IBMM vs. ACWI - Drawdown Comparison

The maximum IBMM drawdown since its inception was 0.00%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for IBMM and ACWI.

Drawdown Indicators

	IBMM	ACWI	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-56.00%	+56.00%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.73%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.55%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.53%	—
Current Drawdown Current decline from peak	0.00%	-0.53%	+0.53%
Average Drawdown Average peak-to-trough decline	0.00%	-8.61%	+8.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.16%	—

Volatility

Volatility by Period

	IBMM	ACWI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.83%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	12.79%	-12.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	16.05%	-16.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	17.11%	-17.11%

IBMM vs. ACWI - Expense Ratio Comparison

IBMM has a 0.18% expense ratio, which is lower than ACWI's 0.32% expense ratio.

Dividends

IBMM vs. ACWI - Dividend Comparison

IBMM has not paid dividends to shareholders, while ACWI's dividend yield for the trailing twelve months is around 1.38%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWI iShares MSCI ACWI ETF	1.38%	1.55%	1.70%	1.88%	1.79%	1.71%	1.43%	2.33%	2.18%	1.94%	2.19%	2.56%
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, IBMM or ACWI?

On fees, IBMM is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBMM or ACWI?

IBMM is cheaper with a 0.18% expense ratio, compared with 0.32% for ACWI.

Which ETF pays a higher dividend yield, IBMM or ACWI?

ACWI has the higher dividend yield at 1.38%, compared with 0.00% for IBMM.

What is the main difference between IBMM and ACWI?

IBMM is categorized as Municipal Bonds, while ACWI is Global Equities. IBMM tracks S&P AMT-Free Municipal Series Dec 2024 Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.18% for IBMM and 0.32% for ACWI.