IBMO vs. TLT
Compare and contrast key facts about iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) and iShares 20+ Year Treasury Bond ETF (TLT).
IBMO and TLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IBMO is a passively managed fund by iShares that tracks the performance of the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index. It was launched on Apr 2, 2019. TLT is a passively managed fund by iShares that tracks the performance of the ICE U.S. Treasury 20+ Year Bond Index. It was launched on Jul 22, 2002. Both IBMO and TLT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IBMO vs. TLT - Performance Comparison
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IBMO vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 0.49% | 3.11% | 1.97% | 2.90% | -5.36% | -0.16% | 5.48% | 4.69% |
TLT iShares 20+ Year Treasury Bond ETF | 0.07% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 11.21% |
Returns By Period
In the year-to-date period, IBMO achieves a 0.49% return, which is significantly higher than TLT's 0.07% return.
IBMO
- 1D
- 0.12%
- 1M
- 0.05%
- YTD
- 0.49%
- 6M
- 1.32%
- 1Y
- 2.71%
- 3Y*
- 2.30%
- 5Y*
- 0.69%
- 10Y*
- —
TLT
- 1D
- -0.10%
- 1M
- -3.35%
- YTD
- 0.07%
- 6M
- -1.23%
- 1Y
- -1.44%
- 3Y*
- -2.81%
- 5Y*
- -5.87%
- 10Y*
- -1.39%
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IBMO vs. TLT - Expense Ratio Comparison
IBMO has a 0.18% expense ratio, which is higher than TLT's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
IBMO vs. TLT — Risk / Return Rank
IBMO
TLT
IBMO vs. TLT - 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 20+ Year Treasury Bond ETF (TLT). 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 | TLT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.98 | -0.13 | +2.10 |
Sortino ratioReturn per unit of downside risk | 2.80 | -0.10 | +2.89 |
Omega ratioGain probability vs. loss probability | 1.43 | 0.99 | +0.44 |
Calmar ratioReturn relative to maximum drawdown | 2.93 | -0.06 | +2.99 |
Martin ratioReturn relative to average drawdown | 14.86 | -0.13 | +14.99 |
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 | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.98 | -0.13 | +2.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | -0.37 | +0.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.26 | +0.14 |
Correlation
The correlation between IBMO and TLT is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
IBMO vs. TLT - Dividend Comparison
IBMO's dividend yield for the trailing twelve months is around 2.38%, less than TLT's 4.53% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 2.38% | 2.37% | 2.15% | 1.65% | 0.89% | 0.62% | 1.03% | 1.01% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.53% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Drawdowns
IBMO vs. TLT - Drawdown Comparison
The maximum IBMO drawdown since its inception was -14.77%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IBMO and TLT.
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Drawdown Indicators
| IBMO | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.77% | -48.35% | +33.58% |
Max Drawdown (1Y)Largest decline over 1 year | -0.96% | -9.23% | +8.27% |
Max Drawdown (5Y)Largest decline over 5 years | -8.86% | -43.70% | +34.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -0.04% | -40.23% | +40.19% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -13.62% | +11.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 4.39% | -4.20% |
Volatility
IBMO vs. TLT - Volatility Comparison
The current volatility for iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) is 0.40%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 3.71%. This indicates that IBMO experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBMO | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 3.71% | -3.31% |
Volatility (6M)Calculated over the trailing 6-month period | 0.94% | 6.61% | -5.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.38% | 11.40% | -10.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.18% | 15.88% | -13.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.57% | 14.93% | -10.36% |