IBTF vs. UTEN
IBTF (iShares iBonds Dec 2025 Term Treasury ETF) and UTEN (US Treasury 10 Year Note ETF) are both Government Bonds funds - IBTF tracks the ICE 2025 Maturity US Treasury Index while UTEN tracks the ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, IBTF returned 3.66%/yr vs 1.86%/yr for UTEN. A 0.54 correlation means they provide meaningful diversification when combined. IBTF charges 0.07%/yr vs 0.15%/yr for UTEN.
Performance
IBTF vs. UTEN - Performance Comparison
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Returns By Period
IBTF
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.09%
- 1Y
- 2.14%
- 3Y*
- 3.66%
- 5Y*
- 0.90%
- 10Y*
- —
UTEN
- 1D
- -0.26%
- 1M
- 0.01%
- YTD
- -0.69%
- 6M
- -1.30%
- 1Y
- 4.26%
- 3Y*
- 1.86%
- 5Y*
- —
- 10Y*
- —
IBTF vs. UTEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBTF iShares iBonds Dec 2025 Term Treasury ETF | 0.00% | 3.81% | 4.60% | 4.12% | -1.33% |
UTEN US Treasury 10 Year Note ETF | -0.69% | 7.82% | -1.67% | 3.18% | -7.79% |
Correlation
The correlation between IBTF and UTEN is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | 0.54 |
The correlation between IBTF and UTEN shifts across timeframes, from -0.02 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBTF vs. UTEN — Risk / Return Rank
IBTF
UTEN
IBTF vs. UTEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2025 Term Treasury ETF (IBTF) and US Treasury 10 Year Note ETF (UTEN). 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.
| IBTF | UTEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.26 | ||
| Sortino ratioReturn per unit of downside risk | +18.85 | ||
| Omega ratioGain probability vs. loss probability | 6.23 | 1.14 | +5.09 |
| Calmar ratioReturn relative to maximum drawdown | 59.41 | 0.94 | +58.47 |
| Martin ratioReturn relative to average drawdown | 269.70 | 2.82 | +266.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBTF | UTEN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.08 | 0.82 | +6.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.01 | +0.44 |
Drawdowns
IBTF vs. UTEN - Drawdown Comparison
The maximum IBTF drawdown since its inception was -10.45%, smaller than the maximum UTEN drawdown of -13.36%. Use the drawdown chart below to compare losses from any high point for IBTF and UTEN.
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Drawdown Indicators
| IBTF | UTEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.45% | -13.36% | +2.91% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -4.57% | +4.53% |
Max Drawdown (3Y)Largest decline over 3 years | -0.67% | -8.60% | +7.93% |
Max Drawdown (5Y)Largest decline over 5 years | -9.53% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.05% | +3.05% |
Average DrawdownAverage peak-to-trough decline | -3.33% | -4.82% | +1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.51% | -1.50% |
Volatility
IBTF vs. UTEN - Volatility Comparison
The current volatility for iShares iBonds Dec 2025 Term Treasury ETF (IBTF) is 0.00%, while US Treasury 10 Year Note ETF (UTEN) has a volatility of 1.71%. This indicates that IBTF experiences smaller price fluctuations and is considered to be less risky than UTEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTF | UTEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 1.71% | -1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 3.65% | -3.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.36% | 5.24% | -4.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.38% | 8.05% | -5.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.56% | 8.05% | -5.49% |
IBTF vs. UTEN - Expense Ratio Comparison
IBTF has a 0.07% expense ratio, which is lower than UTEN's 0.15% 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. UTEN - Dividend Comparison
IBTF's dividend yield for the trailing twelve months is around 2.08%, less than UTEN's 4.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IBTF iShares iBonds Dec 2025 Term Treasury ETF | 2.08% | 3.83% | 4.32% | 4.03% | 1.93% | 0.57% | 0.59% |
UTEN US Treasury 10 Year Note ETF | 4.05% | 4.11% | 4.13% | 3.62% | 1.39% | 0.00% | 0.00% |
Frequently Asked Questions
IBTF and UTEN have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTEN has higher volatility (1.71%) compared to IBTF (0.00%). In terms of maximum drawdown, IBTF dropped -10.45% vs UTEN's -13.36%.
On 3-year performance, IBTF leads with 3.66% vs 1.86% for UTEN. 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.
Over the 3-year period, IBTF has performed better with a 3.66% return vs 1.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTF is cheaper with a 0.07% expense ratio, compared with 0.15% for UTEN.
UTEN has the higher dividend yield at 4.05%, compared with 2.08% for IBTF.
IBTF tracks ICE 2025 Maturity US Treasury Index, while UTEN tracks ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross. They also come from different issuers: iShares and US Benchmark Series. Their fees differ too: 0.07% for IBTF and 0.15% for UTEN.
IBTF currently has the higher Sharpe Ratio (7.08 vs 0.82), 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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