IBTH vs. IBTL
IBTH (iShares iBonds Dec 2027 Term Treasury ETF) and IBTL (iShares iBonds Dec 2031 Term Treasury ETF) are both Government Bonds funds from iShares - IBTH tracks the ICE 2027 Maturity US Treasury Index while IBTL tracks the ICE 2031 Maturity US Treasury Index. Both are passively managed. Over the past 3 years, IBTH returned 4.16%/yr vs 3.19%/yr for IBTL. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.07% expense ratio.
Performance
IBTH vs. IBTL - Performance Comparison
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Returns By Period
In the year-to-date period, IBTH achieves a 1.03% return, which is significantly higher than IBTL's -0.37% return.
IBTH
- 1D
- -0.02%
- 1M
- 0.23%
- YTD
- 1.03%
- 6M
- 1.29%
- 1Y
- 3.81%
- 3Y*
- 4.16%
- 5Y*
- 0.42%
- 10Y*
- —
IBTL
- 1D
- -0.15%
- 1M
- 0.59%
- YTD
- -0.37%
- 6M
- -0.06%
- 1Y
- 3.51%
- 3Y*
- 3.19%
- 5Y*
- —
- 10Y*
- —
IBTH vs. IBTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBTH iShares iBonds Dec 2027 Term Treasury ETF | 1.03% | 5.29% | 3.22% | 4.38% | -9.75% | -1.78% |
IBTL iShares iBonds Dec 2031 Term Treasury ETF | -0.37% | 7.85% | 0.36% | 3.60% | -15.60% | -1.22% |
Correlation
The correlation between IBTH and IBTL is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2021 | 0.85 |
The correlation between IBTH and IBTL shifts across timeframes, from 0.75 (1 year) to 0.86 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBTH vs. IBTL — Risk / Return Rank
IBTH
IBTL
IBTH vs. IBTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2027 Term Treasury ETF (IBTH) and iShares iBonds Dec 2031 Term Treasury ETF (IBTL). 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.
| IBTH | IBTL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.79 | ||
| Sortino ratioReturn per unit of downside risk | +5.80 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 1.16 | +0.80 |
| Calmar ratioReturn relative to maximum drawdown | 10.03 | 1.16 | +8.87 |
| Martin ratioReturn relative to average drawdown | 41.28 | 3.19 | +38.09 |
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Drawdowns
IBTH vs. IBTL - Drawdown Comparison
The maximum IBTH drawdown since its inception was -16.16%, smaller than the maximum IBTL drawdown of -20.93%. Use the drawdown chart below to compare losses from any high point for IBTH and IBTL.
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Drawdown Indicators
| IBTH | IBTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.16% | -20.93% | +4.77% |
Max Drawdown (1Y)Largest decline over 1 year | -0.38% | -2.83% | +2.45% |
Max Drawdown (3Y)Largest decline over 3 years | -2.09% | -7.38% | +5.29% |
Max Drawdown (5Y)Largest decline over 5 years | -14.41% | — | — |
Current DrawdownCurrent decline from peak | -1.25% | -7.16% | +5.91% |
Average DrawdownAverage peak-to-trough decline | -6.69% | -11.43% | +4.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.09% | 1.03% | -0.94% |
Volatility
IBTH vs. IBTL - Volatility Comparison
The current volatility for iShares iBonds Dec 2027 Term Treasury ETF (IBTH) is 0.20%, while iShares iBonds Dec 2031 Term Treasury ETF (IBTL) has a volatility of 1.11%. This indicates that IBTH experiences smaller price fluctuations and is considered to be less risky than IBTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTH | IBTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 1.11% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 0.54% | 2.41% | -1.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.03% | 3.50% | -2.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.19% | 7.44% | -3.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.20% | 7.44% | -3.24% |
IBTH vs. IBTL - Expense Ratio Comparison
Both IBTH and IBTL have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IBTH vs. IBTL - Dividend Comparison
IBTH's dividend yield for the trailing twelve months is around 3.82%, less than IBTL's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IBTH iShares iBonds Dec 2027 Term Treasury ETF | 3.82% | 3.92% | 4.04% | 3.61% | 2.00% | 0.77% | 0.50% |
IBTL iShares iBonds Dec 2031 Term Treasury ETF | 3.97% | 3.93% | 4.07% | 3.04% | 2.36% | 0.70% | 0.00% |
Frequently Asked Questions
IBTH and IBTL have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBTL has higher volatility (1.11%) compared to IBTH (0.20%). In terms of maximum drawdown, IBTH dropped -16.16% vs IBTL's -20.93%.
On 3-year performance, IBTH leads with 4.16% vs 3.19% for IBTL. Both ETFs have the same 0.07% expense ratio. On volatility, IBTH has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IBTH has performed better with a 4.16% return vs 3.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTH and IBTL have the same expense ratio: 0.07% per year.
IBTL has the higher dividend yield at 3.97%, compared with 3.82% for IBTH.
IBTH tracks ICE 2027 Maturity US Treasury Index, while IBTL tracks ICE 2031 Maturity US Treasury Index.
IBTH currently has the higher Sharpe Ratio (3.74 vs 0.94), 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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