IBMR vs. IBMO
IBMR (iShares iBonds Dec 2029 Term Muni Bond ETF) and IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) are both Municipal Bonds funds from iShares - IBMR tracks the S&P AMT-Free Municipal Series Callable-Adjusted 2029 Index while IBMO tracks the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index. Both are passively managed. Over the past 3 years, IBMR returned 3.25%/yr vs 2.80%/yr for IBMO. At a 0.44 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.
Performance
IBMR vs. IBMO - Performance Comparison
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Returns By Period
In the year-to-date period, IBMR achieves a 0.79% return, which is significantly lower than IBMO's 1.03% return.
IBMR
- 1D
- -0.02%
- 1M
- 0.66%
- YTD
- 0.79%
- 6M
- 0.93%
- 1Y
- 3.45%
- 3Y*
- 3.25%
- 5Y*
- —
- 10Y*
- —
IBMO
- 1D
- 0.02%
- 1M
- 0.19%
- YTD
- 1.03%
- 6M
- 1.02%
- 1Y
- 2.62%
- 3Y*
- 2.80%
- 5Y*
- 0.72%
- 10Y*
- —
IBMR vs. IBMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF | 0.79% | 4.45% | 0.06% | 3.46% |
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 1.03% | 3.11% | 1.97% | 1.83% |
Correlation
The correlation between IBMR and IBMO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 11, 2023 | 0.44 |
Over the past year, the correlation between IBMR and IBMO has dropped to 0.08 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.
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Return for Risk
IBMR vs. IBMO — Risk / Return Rank
IBMR
IBMO
IBMR vs. IBMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) and iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO). 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.
| IBMR | IBMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.49 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 6.95 | -4.72 |
| Martin ratioReturn relative to average drawdown | 5.73 | 20.64 | -14.92 |
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Drawdowns
IBMR vs. IBMO - Drawdown Comparison
The maximum IBMR drawdown since its inception was -4.83%, smaller than the maximum IBMO drawdown of -14.77%. Use the drawdown chart below to compare losses from any high point for IBMR and IBMO.
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Drawdown Indicators
| IBMR | IBMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.83% | -14.77% | +9.94% |
Max Drawdown (1Y)Largest decline over 1 year | -1.55% | -0.38% | -1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -4.72% | -1.76% | -2.96% |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.86% | — |
Current DrawdownCurrent decline from peak | -0.60% | 0.00% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -1.01% | -2.31% | +1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 0.13% | +0.47% |
Volatility
IBMR vs. IBMO - Volatility Comparison
iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) has a higher volatility of 0.39% compared to iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) at 0.22%. This indicates that IBMR's price experiences larger fluctuations and is considered to be riskier than IBMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBMR | IBMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 0.22% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 1.15% | 0.79% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.76% | 1.10% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.04% | 2.14% | +0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.04% | 4.50% | -1.46% |
IBMR vs. IBMO - Expense Ratio Comparison
Both IBMR and IBMO have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IBMR vs. IBMO - Dividend Comparison
IBMR's dividend yield for the trailing twelve months is around 2.55%, more than IBMO's 2.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF | 2.55% | 2.55% | 2.53% | 1.27% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBMR and IBMO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBMR has higher volatility (0.39%) compared to IBMO (0.22%). In terms of maximum drawdown, IBMR dropped -4.83% vs IBMO's -14.77%.
On 3-year performance, IBMR leads with 3.25% vs 2.80% for IBMO. Both ETFs have the same 0.18% expense ratio. On volatility, IBMO has been the lower-risk option at 0.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IBMR has performed better with a 3.25% return vs 2.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBMR and IBMO have the same expense ratio: 0.18% per year.
IBMR has the higher dividend yield at 2.55%, compared with 2.39% for IBMO.
IBMR tracks S&P AMT-Free Municipal Series Callable-Adjusted 2029 Index, while IBMO tracks S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index.
IBMO currently has the higher Sharpe Ratio (2.39 vs 1.98), 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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