IBMP vs. IBIT

Last updated Jun 24, 2026

IBMP (iShares iBonds Dec 2027 Term Muni Bond ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - IBMP is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Callable Factor Adjusted 2027 Series Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, IBMP returned 2.89% vs -39.82% for IBIT. At a 0.06 correlation, their price movements are largely independent. IBMP charges 0.18%/yr vs 0.25%/yr for IBIT.

Performance

IBMP vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2027 Term Muni Bond ETF (IBMP) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBMP achieves a 1.09% return, which is significantly higher than IBIT's -28.88% return.

IBMP

• 1D: 0.08%
• 1M: 0.25%
• YTD: 1.09%
• 6M: 1.21%
• 1Y: 2.89%
• 3Y*: 2.80%
• 5Y*: 0.64%
• 10Y*: —

IBIT

• 1D: -3.26%
• 1M: -17.81%
• YTD: -28.88%
• 6M: -28.88%
• 1Y: -39.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBMP vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF	1.09%	3.52%	1.54%
IBIT iShares Bitcoin Trust ETF	-28.88%	-6.41%	89.87%

Correlation

The correlation between IBMP and IBIT is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.06

Return for Risk

IBMP vs. IBIT — Risk / Return Rank

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

IBMP

IBMP Risk / Return Rank: 88
IBMP Sharpe Ratio Rank: 89
IBMP Sortino Ratio Rank: 93
IBMP Omega Ratio Rank: 92
IBMP Calmar Ratio Rank: 89
IBMP Martin Ratio Rank: 77

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT 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.

IBMP vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2027 Term Muni Bond ETF (IBMP) and iShares Bitcoin Trust ETF (IBIT). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IBMP	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	2.71	-0.90	+3.61
Sortino ratio: Return per unit of downside risk	4.16	-1.25	+5.41
Omega ratio: Gain probability vs. loss probability	1.57	0.86	+0.71
Calmar ratio: Return relative to maximum drawdown	4.89	-0.77	+5.66
Martin ratio: Return relative to average drawdown	13.55	-1.30	+14.85

IBMP vs. IBIT - Sharpe Ratio Comparison

The current IBMP Sharpe Ratio is 2.71, which is higher than the IBIT Sharpe Ratio of -0.90. The chart below compares the historical Sharpe Ratios of IBMP and IBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBMP vs. IBIT - Drawdown Comparison

The maximum IBMP drawdown since its inception was -15.24%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for IBMP and IBIT.

Drawdown Indicators

	IBMP	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	-52.11%	+36.87%
Max Drawdown (1Y) Largest decline over 1 year	-0.59%	-52.11%	+51.52%
Max Drawdown (3Y) Largest decline over 3 years	-2.63%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.00%	—	—
Current Drawdown Current decline from peak	0.00%	-50.47%	+50.47%
Average Drawdown Average peak-to-trough decline	-2.70%	-16.85%	+14.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	30.58%	-30.37%

Volatility

IBMP vs. IBIT - Volatility Comparison

The current volatility for iShares iBonds Dec 2027 Term Muni Bond ETF (IBMP) is 0.25%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.18%. This indicates that IBMP experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBMP	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.25%	13.18%	-12.93%
Volatility (6M) Calculated over the trailing 6-month period	0.77%	34.64%	-33.87%
Volatility (1Y) Calculated over the trailing 1-year period	1.07%	44.31%	-43.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.56%	50.22%	-47.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	50.22%	-45.23%

IBMP vs. IBIT - Expense Ratio Comparison

IBMP has a 0.18% expense ratio, which is lower than IBIT'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

IBMP vs. IBIT - Dividend Comparison

IBMP's dividend yield for the trailing twelve months is around 2.50%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF	2.50%	2.47%	2.35%	2.05%	1.26%	0.86%	1.16%	1.06%

Frequently Asked Questions

Can I hold both IBMP and IBIT in my portfolio?

IBMP and IBIT have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBMP or IBIT?

IBIT has higher volatility (13.18%) compared to IBMP (0.25%). In terms of maximum drawdown, IBMP dropped -15.24% vs IBIT's -52.11%.

Which ETF is better, IBMP or IBIT?

On 1-year performance, IBMP leads with 2.89% vs -39.82% for IBIT. On fees, IBMP is cheaper at 0.18% per year. On volatility, IBMP has been the lower-risk option at 0.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBMP or IBIT?

Over the 1-year period, IBMP has performed better with a 2.89% return vs -39.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBMP or IBIT?

IBMP is cheaper with a 0.18% expense ratio, compared with 0.25% for IBIT.

Which ETF pays a higher dividend yield, IBMP or IBIT?

IBMP has the higher dividend yield at 2.50%, compared with 0.00% for IBIT.

What is the main difference between IBMP and IBIT?

IBMP is categorized as Municipal Bonds, while IBIT is Cryptocurrency. IBMP tracks S&P AMT-Free Municipal Callable Factor Adjusted 2027 Series Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.18% for IBMP and 0.25% for IBIT.

Which has better risk-adjusted returns?

IBMP currently has the higher Sharpe Ratio (2.71 vs -0.90), 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.