IBMO vs. MEAR
IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) and MEAR (iShares Short Maturity Municipal Bond ETF) are both Municipal Bonds funds from iShares. IBMO is passively managed, while MEAR is actively managed. Over the past 5 years, IBMO returned 0.67%/yr vs 2.42%/yr for MEAR. At a 0.21 correlation, their price movements are largely independent. IBMO charges 0.18%/yr vs 0.25%/yr for MEAR.
Performance
IBMO vs. MEAR - Performance Comparison
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Returns By Period
In the year-to-date period, IBMO achieves a 0.95% return, which is significantly lower than MEAR's 1.02% return.
IBMO
- 1D
- 0.01%
- 1M
- 0.17%
- YTD
- 0.95%
- 6M
- 1.30%
- 1Y
- 2.78%
- 3Y*
- 2.93%
- 5Y*
- 0.67%
- 10Y*
- —
MEAR
- 1D
- -0.04%
- 1M
- 0.26%
- YTD
- 1.02%
- 6M
- 1.28%
- 1Y
- 3.23%
- 3Y*
- 3.55%
- 5Y*
- 2.42%
- 10Y*
- 1.78%
IBMO vs. MEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 0.95% | 3.11% | 1.97% | 2.90% | -5.36% | -0.16% | 5.48% | 4.69% |
MEAR iShares Short Maturity Municipal Bond ETF | 1.02% | 3.76% | 3.40% | 3.93% | 0.10% | 0.05% | 1.18% | 1.45% |
Correlation
The correlation between IBMO and MEAR is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2019 | 0.21 |
The correlation between IBMO and MEAR shifts across timeframes, from 0.12 (1 year) to 0.25 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBMO vs. MEAR — Risk / Return Rank
IBMO
MEAR
IBMO vs. MEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) and iShares Short Maturity Municipal Bond ETF (MEAR). 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.
| IBMO | MEAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.88 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 7.38 | 6.93 | +0.44 |
| Martin ratioReturn relative to average drawdown | 21.93 | 28.45 | -6.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBMO | MEAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 3.78 | -1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 2.47 | -2.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.18 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 1.11 | -0.70 |
Drawdowns
IBMO vs. MEAR - Drawdown Comparison
The maximum IBMO drawdown since its inception was -14.77%, which is greater than MEAR's maximum drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for IBMO and MEAR.
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Drawdown Indicators
| IBMO | MEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.77% | -2.68% | -12.09% |
Max Drawdown (1Y)Largest decline over 1 year | -0.38% | -0.47% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -1.76% | -0.86% | -0.90% |
Max Drawdown (5Y)Largest decline over 5 years | -8.86% | -1.12% | -7.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -2.68% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.04% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -0.19% | -2.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.13% | 0.11% | +0.02% |
Volatility
IBMO vs. MEAR - Volatility Comparison
The current volatility for iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) is 0.19%, while iShares Short Maturity Municipal Bond ETF (MEAR) has a volatility of 0.24%. This indicates that IBMO experiences smaller price fluctuations and is considered to be less risky than MEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBMO | MEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 0.24% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 0.83% | 0.61% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.10% | 0.86% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.15% | 0.98% | +1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.52% | 1.52% | +3.00% |
IBMO vs. MEAR - Expense Ratio Comparison
IBMO has a 0.18% expense ratio, which is lower than MEAR's 0.25% 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
IBMO vs. MEAR - Dividend Comparison
IBMO's dividend yield for the trailing twelve months is around 2.39%, less than MEAR's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 2.39% | 2.37% | 2.15% | 1.65% | 0.89% | 0.62% | 1.03% | 1.01% | 0.00% | 0.00% | 0.00% | 0.00% |
MEAR iShares Short Maturity Municipal Bond ETF | 2.84% | 2.95% | 3.44% | 3.30% | 0.88% | 0.30% | 0.90% | 1.57% | 1.36% | 1.01% | 0.81% | 0.53% |
Frequently Asked Questions
IBMO and MEAR have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MEAR has higher volatility (0.24%) compared to IBMO (0.19%). In terms of maximum drawdown, IBMO dropped -14.77% vs MEAR's -2.68%.
On 5-year performance, MEAR leads with 2.42% vs 0.67% for IBMO. On fees, IBMO is cheaper at 0.18% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MEAR has performed better with a 2.42% return vs 0.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBMO is cheaper with a 0.18% expense ratio, compared with 0.25% for MEAR.
MEAR has the higher dividend yield at 2.84%, compared with 2.39% for IBMO.
Their fees differ too: 0.18% for IBMO and 0.25% for MEAR.
MEAR currently has the higher Sharpe Ratio (3.78 vs 2.54), 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.
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