IBMS vs. IBMO

Last updated Jun 24, 2026

IBMS (iShares iBonds Dec 2030 Term Muni Bond ETF) and IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) are both Municipal Bonds funds from iShares - IBMS tracks the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2030 Index while IBMO tracks the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index. Both are passively managed. Over the past year, IBMS returned 3.74% vs 2.62% for IBMO. At a 0.28 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.

Performance

IBMS vs. IBMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2030 Term Muni Bond ETF (IBMS) and iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBMS achieves a 0.37% return, which is significantly lower than IBMO's 1.03% return.

IBMS

• 1D: -0.10%
• 1M: 0.73%
• YTD: 0.37%
• 6M: 0.66%
• 1Y: 3.74%
• 3Y*: —
• 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*: —

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

IBMS vs. IBMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBMS iShares iBonds Dec 2030 Term Muni Bond ETF	0.37%	5.36%	3.03%
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	1.03%	3.11%	2.55%

Correlation

The correlation between IBMS and IBMO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since May 24, 2024	0.28

The correlation between IBMS and IBMO shifts across timeframes, from 0.13 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IBMS vs. IBMO — Risk / Return Rank

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

IBMS

IBMS Risk / Return Rank: 55
IBMS Sharpe Ratio Rank: 63
IBMS Sortino Ratio Rank: 67
IBMS Omega Ratio Rank: 75
IBMS Calmar Ratio Rank: 36
IBMS Martin Ratio Rank: 32

IBMO

IBMO Risk / Return Rank: 89
IBMO Sharpe Ratio Rank: 81
IBMO Sortino Ratio Rank: 89
IBMO Omega Ratio Rank: 86
IBMO Calmar Ratio Rank: 95
IBMO Martin Ratio Rank: 91

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.

IBMS vs. IBMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2030 Term Muni Bond ETF (IBMS) 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.

	IBMS	IBMO	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.39	-0.51
Sortino ratio: Return per unit of downside risk	2.77	3.83	-1.07
Omega ratio: Gain probability vs. loss probability	1.40	1.49	-0.09
Calmar ratio: Return relative to maximum drawdown	1.67	6.95	-5.28
Martin ratio: Return relative to average drawdown	4.28	20.64	-16.36

IBMS vs. IBMO - Sharpe Ratio Comparison

The current IBMS Sharpe Ratio is 1.88, which is comparable to the IBMO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of IBMS and IBMO, 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

IBMS vs. IBMO - Drawdown Comparison

The maximum IBMS drawdown since its inception was -3.01%, smaller than the maximum IBMO drawdown of -14.77%. Use the drawdown chart below to compare losses from any high point for IBMS and IBMO.

Drawdown Indicators

	IBMS	IBMO	Difference
Max Drawdown Largest peak-to-trough decline	-3.01%	-14.77%	+11.76%
Max Drawdown (1Y) Largest decline over 1 year	-2.25%	-0.38%	-1.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.86%	—
Current Drawdown Current decline from peak	-1.15%	0.00%	-1.15%
Average Drawdown Average peak-to-trough decline	-0.71%	-2.31%	+1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.13%	+0.75%

Volatility

IBMS vs. IBMO - Volatility Comparison

iShares iBonds Dec 2030 Term Muni Bond ETF (IBMS) has a higher volatility of 0.51% compared to iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) at 0.22%. This indicates that IBMS'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.

Volatility by Period

	IBMS	IBMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	0.22%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	1.46%	0.79%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	2.00%	1.10%	+0.90%
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%

IBMS vs. IBMO - Expense Ratio Comparison

Both IBMS 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

IBMS vs. IBMO - Dividend Comparison

IBMS's dividend yield for the trailing twelve months is around 2.51%, 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%
IBMS iShares iBonds Dec 2030 Term Muni Bond ETF	2.51%	2.49%	1.38%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBMS and IBMO in my portfolio?

IBMS and IBMO 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 is riskier, IBMS or IBMO?

IBMS has higher volatility (0.51%) compared to IBMO (0.22%). In terms of maximum drawdown, IBMS dropped -3.01% vs IBMO's -14.77%.

Which ETF is better, IBMS or IBMO?

On 1-year performance, IBMS leads with 3.74% vs 2.62% 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.

Which ETF has performed better, IBMS or IBMO?

Over the 1-year period, IBMS has performed better with a 3.74% return vs 2.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBMS or IBMO?

IBMS and IBMO have the same expense ratio: 0.18% per year.

Which ETF pays a higher dividend yield, IBMS or IBMO?

IBMS has the higher dividend yield at 2.51%, compared with 2.39% for IBMO.

What is the main difference between IBMS and IBMO?

IBMS tracks S&P AMT-Free Municipal Series Callable-Adjusted Dec 2030 Index, while IBMO tracks S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index.

Which has better risk-adjusted returns?

IBMO currently has the higher Sharpe Ratio (2.39 vs 1.88), 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.