IBTF vs. IBIT

Last updated Aug 4, 2026

IBTF (iShares iBonds Dec 2025 Term Treasury ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - IBTF is a Government Bonds fund tracking the ICE 2025 Maturity US Treasury 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, IBTF returned 1.44% vs -43.69% for IBIT. Their -0.00 correlation means they have often moved in opposite directions in the past. IBTF charges 0.07%/yr vs 0.25%/yr for IBIT.

Performance

IBTF vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2025 Term Treasury ETF (IBTF) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBTF

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 0.00%
• 1Y: 1.44%
• 3Y*: 3.64%
• 5Y*: 0.80%
• 10Y*: —
• ALL TIME*: 1.11%

IBIT

• 1D: 1.46%
• 1M: 3.70%
• 6M: -18.23%
• YTD: -27.17%
• 1Y: -43.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.60%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBIT iShares Bitcoin Trust ETF	$1.33B	$1.34B	$1.65B
IBTF iShares iBonds Dec 2025 Term Treasury ETF	$0.00	$0.00	$0.00

IBTF vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBTF iShares iBonds Dec 2025 Term Treasury ETF	0.00%	3.81%	4.65%
IBIT iShares Bitcoin Trust ETF	-27.17%	-6.41%	89.87%

Correlation

The correlation between IBTF and IBIT is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.06
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	-0.00

Return for Risk

IBTF vs. IBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IBTF

IBTF Risk / Return Rank: 99
IBTF Sharpe Ratio Rank: 99
IBTF Sortino Ratio Rank: 99
IBTF Omega Ratio Rank: 99
IBTF Calmar Ratio Rank: 99
IBTF Martin Ratio Rank: 99

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: 3

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IBTF vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2025 Term Treasury ETF (IBTF) 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.

	IBTF	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	5.96	-0.99	+6.95
Sortino ratio: Return per unit of downside risk	20.32	-1.44	+21.76
Omega ratio: Gain probability vs. loss probability	7.12	0.84	+6.28
Calmar ratio: Return relative to maximum drawdown	39.94	-0.82	+40.76
Martin ratio: Return relative to average drawdown	258.91	-1.26	+260.17

IBTF vs. IBIT - Sharpe Ratio Comparison

The current IBTF Sharpe Ratio is 5.96, which is higher than the IBIT Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of IBTF 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

IBTF vs. IBIT - Drawdown Comparison

The maximum IBTF drawdown since its inception was -10.45%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for IBTF and IBIT.

Drawdown Indicators

	IBTF	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-10.45%	-53.30%	+42.85%
Max Drawdown (1Y) Largest decline over 1 year	-0.04%	-53.30%	+53.26%
Max Drawdown (3Y) Largest decline over 3 years	-0.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.35%	—	—
Current Drawdown Current decline from peak	0.00%	-49.28%	+49.28%
Average Drawdown Average peak-to-trough decline	-3.24%	-18.29%	+15.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	34.80%	-34.79%

Volatility

IBTF vs. IBIT - Volatility Comparison

The current volatility for iShares iBonds Dec 2025 Term Treasury ETF (IBTF) is 0.00%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 8.98%. This indicates that IBTF 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

	IBTF	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	8.98%	-8.98%
Volatility (6M) Calculated over the trailing 6-month period	0.06%	33.79%	-33.73%
Volatility (1Y) Calculated over the trailing 1-year period	0.29%	44.48%	-44.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.35%	49.57%	-47.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.53%	49.57%	-47.04%

IBTF vs. IBIT - Expense Ratio Comparison

IBTF has a 0.07% 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

IBTF vs. IBIT - Dividend Comparison

IBTF's dividend yield for the trailing twelve months is around 1.37%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBTF iShares iBonds Dec 2025 Term Treasury ETF	1.37%	3.83%	4.32%	4.03%	1.93%	0.57%	0.59%

Frequently Asked Questions

Can I hold both IBTF and IBIT in my portfolio?

IBTF and IBIT have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBTF or IBIT?

IBIT has higher volatility (8.98%) compared to IBTF (0.00%). In terms of maximum drawdown, IBTF dropped -10.45% vs IBIT's -53.30%.

Which ETF is better, IBTF or IBIT?

On 1-year performance, IBTF leads with 1.44% vs -43.69% for IBIT. On fees, IBTF is cheaper at 0.07% per year. On volatility, IBTF has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBTF or IBIT?

Over the 1-year period, IBTF has performed better with a 1.44% return vs -43.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBTF or IBIT?

IBTF is cheaper with a 0.07% expense ratio, compared with 0.25% for IBIT.

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

IBTF has the higher dividend yield at 1.37%, compared with 0.00% for IBIT.

What is the main difference between IBTF and IBIT?

IBTF is categorized as Government Bonds, while IBIT is Cryptocurrency. IBTF tracks ICE 2025 Maturity US Treasury Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.07% for IBTF and 0.25% for IBIT.

Which has better risk-adjusted returns?

IBTF currently has the higher Sharpe Ratio (5.96 vs -0.99), 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.