IBMP vs. TLT
IBMP (iShares iBonds Dec 2027 Term Muni Bond ETF) and TLT (iShares 20+ Year Treasury Bond 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 TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 5 years, IBMP returned 0.59%/yr vs -6.31%/yr for TLT. At a 0.49 correlation, their price movements are largely independent. IBMP charges 0.18%/yr vs 0.15%/yr for TLT.
Performance
IBMP vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBMP achieves a 0.89% return, which is significantly higher than TLT's -0.27% return.
IBMP
- 1D
- 0.00%
- 1M
- 0.21%
- YTD
- 0.89%
- 6M
- 1.26%
- 1Y
- 3.04%
- 3Y*
- 2.97%
- 5Y*
- 0.59%
- 10Y*
- —
TLT
- 1D
- -0.40%
- 1M
- 0.81%
- YTD
- -0.27%
- 6M
- -2.02%
- 1Y
- 4.93%
- 3Y*
- -1.80%
- 5Y*
- -6.31%
- 10Y*
- -1.66%
IBMP vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF | 0.89% | 3.52% | 1.26% | 3.49% | -6.09% | -0.16% | 6.22% | 4.88% |
TLT iShares 20+ Year Treasury Bond ETF | -0.27% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 11.50% |
Correlation
The correlation between IBMP and TLT is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2019 | 0.49 |
Over the past year, the correlation between IBMP and TLT has dropped to 0.16 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBMP vs. TLT — Risk / Return Rank
IBMP
TLT
IBMP vs. TLT - 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 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.
| IBMP | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.32 | ||
| Sortino ratioReturn per unit of downside risk | +3.58 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.09 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 5.14 | 0.65 | +4.48 |
| Martin ratioReturn relative to average drawdown | 14.24 | 1.63 | +12.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IBMP | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.83 | 0.51 | +2.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | -0.40 | +0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.26 | +0.12 |
Drawdowns
IBMP vs. TLT - Drawdown Comparison
The maximum IBMP drawdown since its inception was -15.24%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IBMP and TLT.
Loading charts...
Drawdown Indicators
| IBMP | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.24% | -48.35% | +33.11% |
Max Drawdown (1Y)Largest decline over 1 year | -0.59% | -7.58% | +6.99% |
Max Drawdown (3Y)Largest decline over 3 years | -2.63% | -19.18% | +16.55% |
Max Drawdown (5Y)Largest decline over 5 years | -10.00% | -43.70% | +33.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -0.01% | -40.44% | +40.43% |
Average DrawdownAverage peak-to-trough decline | -2.72% | -13.82% | +11.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 3.04% | -2.83% |
Volatility
IBMP vs. TLT - Volatility Comparison
The current volatility for iShares iBonds Dec 2027 Term Muni Bond ETF (IBMP) is 0.27%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.76%. This indicates that IBMP 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.
Loading charts...
Volatility by Period
| IBMP | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.27% | 2.76% | -2.49% |
Volatility (6M)Calculated over the trailing 6-month period | 0.79% | 6.50% | -5.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.08% | 9.77% | -8.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.56% | 15.87% | -13.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.01% | 14.91% | -9.90% |
IBMP vs. TLT - Expense Ratio Comparison
IBMP 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%.
Dividends
IBMP vs. TLT - Dividend Comparison
IBMP's dividend yield for the trailing twelve months is around 2.50%, less than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.59% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
IBMP and TLT have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.76%) compared to IBMP (0.27%). In terms of maximum drawdown, IBMP dropped -15.24% vs TLT's -48.35%.
On 5-year performance, IBMP leads with 0.59% vs -6.31% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, IBMP has been the lower-risk option at 0.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBMP has performed better with a 0.59% return vs -6.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.18% for IBMP.
TLT has the higher dividend yield at 4.59%, compared with 2.50% for IBMP.
IBMP is categorized as Municipal Bonds, while TLT is Government Bonds. IBMP tracks S&P AMT-Free Municipal Callable Factor Adjusted 2027 Series Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.18% for IBMP and 0.15% for TLT.
IBMP currently has the higher Sharpe Ratio (2.83 vs 0.51), 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.
Find the right allocation for IBMP and TLT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer