IBMR vs. TNGY

Last updated Jun 3, 2026

IBMR (iShares iBonds Dec 2029 Term Muni Bond ETF) and TNGY (Tortoise Energy Fund) are both exchange-traded funds - IBMR is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted 2029 Index, while TNGY is a Energy Equities fund actively managed by Tortoise Capital. IBMR is passively managed, while TNGY is actively managed. At a correlation of -0.13, they often move in opposite directions. IBMR charges 0.18%/yr vs 0.85%/yr for TNGY.

Performance

IBMR vs. TNGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) and Tortoise Energy Fund (TNGY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBMR achieves a 0.71% return, which is significantly lower than TNGY's 14.76% return.

IBMR

• 1D: 0.10%
• 1M: 0.27%
• YTD: 0.71%
• 6M: 1.17%
• 1Y: 4.07%
• 3Y*: 3.48%
• 5Y*: —
• 10Y*: —

TNGY

• 1D: 1.58%
• 1M: -2.13%
• YTD: 14.76%
• 6M: 13.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBMR vs. TNGY - Yearly Performance Comparison

	2026 (YTD)	2025
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF	0.71%	2.85%
TNGY Tortoise Energy Fund	14.76%	1.81%

Correlation

The correlation between IBMR and TNGY is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025	-0.13

Return for Risk

IBMR vs. TNGY — Risk / Return Rank

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

IBMR

IBMR Risk / Return Rank: 64
IBMR Sharpe Ratio Rank: 69
IBMR Sortino Ratio Rank: 74
IBMR Omega Ratio Rank: 82
IBMR Calmar Ratio Rank: 52
IBMR Martin Ratio Rank: 42

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.

IBMR vs. TNGY - 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 Tortoise Energy Fund (TNGY). 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.

	IBMR	TNGY	Difference
Sharpe ratio Return per unit of total volatility	2.33	—	—
Sortino ratio Return per unit of downside risk	3.44	—	—
Omega ratio Gain probability vs. loss probability	1.51	—	—
Calmar ratio Return relative to maximum drawdown	2.63	—	—
Martin ratio Return relative to average drawdown	7.03	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IBMR	TNGY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	1.13	-0.20

Drawdowns

IBMR vs. TNGY - Drawdown Comparison

The maximum IBMR drawdown since its inception was -4.83%, smaller than the maximum TNGY drawdown of -8.86%. Use the drawdown chart below to compare losses from any high point for IBMR and TNGY.

Drawdown Indicators

	IBMR	TNGY	Difference
Max Drawdown Largest peak-to-trough decline	-4.83%	-8.86%	+4.03%
Max Drawdown (1Y) Largest decline over 1 year	-1.55%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.72%	—	—
Current Drawdown Current decline from peak	-0.68%	-4.29%	+3.61%
Average Drawdown Average peak-to-trough decline	-1.02%	-2.17%	+1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	—	—

Volatility

Volatility by Period

	IBMR	TNGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.75%	15.73%	-13.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.07%	15.73%	-12.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.07%	15.73%	-12.66%

IBMR vs. TNGY - Expense Ratio Comparison

IBMR has a 0.18% expense ratio, which is lower than TNGY's 0.85% expense ratio.

Dividends

IBMR vs. TNGY - Dividend Comparison

IBMR's dividend yield for the trailing twelve months is around 2.55%, less than TNGY's 3.43% yield.

Position	TTM	2025	2024	2023
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF	2.55%	2.55%	2.53%	1.27%
TNGY Tortoise Energy Fund	3.43%	2.59%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBMR and TNGY in my portfolio?

IBMR and TNGY have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBMR or TNGY?

On fees, IBMR is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBMR or TNGY?

IBMR is cheaper with a 0.18% expense ratio, compared with 0.85% for TNGY.

Which ETF pays a higher dividend yield, IBMR or TNGY?

TNGY has the higher dividend yield at 3.43%, compared with 2.55% for IBMR.

What is the main difference between IBMR and TNGY?

IBMR is categorized as Municipal Bonds, while TNGY is Energy Equities. They also come from different issuers: iShares and Tortoise Capital. Their fees differ too: 0.18% for IBMR and 0.85% for TNGY.