IBTH vs. IEF
IBTH (iShares iBonds Dec 2027 Term Treasury ETF) and IEF (iShares 7-10 Year Treasury Bond ETF) are both Government Bonds funds from iShares - IBTH tracks the ICE 2027 Maturity US Treasury Index while IEF tracks the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past 5 years, IBTH returned 0.30%/yr vs -1.80%/yr for IEF. Their correlation of 0.87 means they have usually moved in the same direction. IBTH charges 0.07%/yr vs 0.15%/yr for IEF.
Performance
IBTH vs. IEF - Performance Comparison
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Returns By Period
In the year-to-date period, IBTH achieves a 1.39% return, which is significantly higher than IEF's -1.44% return.
IBTH
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- 1.14%
- YTD
- 1.39%
- 1Y
- 3.20%
- 3Y*
- 4.41%
- 5Y*
- 0.30%
- 10Y*
- —
- ALL TIME*
- 0.68%
IEF
- 1D
- -0.28%
- 1M
- -1.24%
- 6M
- -1.22%
- YTD
- -1.44%
- 1Y
- 0.62%
- 3Y*
- 2.88%
- 5Y*
- -1.80%
- 10Y*
- 0.40%
- ALL TIME*
- 3.34%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.80M | $10.08M | $10.08M | |
| $422.02M | $484.34M | $621.73M |
IBTH vs. IEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBTH iShares iBonds Dec 2027 Term Treasury ETF | 1.39% | 5.29% | 3.22% | 4.38% | -9.75% | -3.43% | 4.20% |
IEF iShares 7-10 Year Treasury Bond ETF | -1.44% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 4.42% |
Correlation
The correlation between IBTH and IEF is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2020 | 0.87 |
Over the past year, the correlation between IBTH and IEF has dropped to 0.66 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.
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Return for Risk
IBTH vs. IEF — Risk / Return Rank
IBTH
IEF
IBTH vs. IEF - 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 7-10 Year Treasury Bond ETF (IEF). 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 | IEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.41 | ||
| Sortino ratioReturn per unit of downside risk | +6.71 | ||
| Omega ratioGain probability vs. loss probability | 1.99 | 1.07 | +0.92 |
| Calmar ratioReturn relative to maximum drawdown | 9.81 | 0.44 | +9.37 |
| Martin ratioReturn relative to average drawdown | 43.35 | 1.01 | +42.34 |
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Drawdowns
IBTH vs. IEF - Drawdown Comparison
The maximum IBTH drawdown since its inception was -16.16%, smaller than the maximum IEF drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for IBTH and IEF.
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Drawdown Indicators
| IBTH | IEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.16% | -23.93% | +7.77% |
Max Drawdown (1Y)Largest decline over 1 year | -0.38% | -4.07% | +3.69% |
Max Drawdown (3Y)Largest decline over 3 years | -1.92% | -6.89% | +4.97% |
Max Drawdown (5Y)Largest decline over 5 years | -14.41% | -21.40% | +6.99% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.93% | — |
Current DrawdownCurrent decline from peak | -0.90% | -12.05% | +11.15% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -5.38% | -1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.09% | 1.75% | -1.66% |
Volatility
IBTH vs. IEF - Volatility Comparison
The current volatility for iShares iBonds Dec 2027 Term Treasury ETF (IBTH) is 0.21%, while iShares 7-10 Year Treasury Bond ETF (IEF) has a volatility of 1.18%. This indicates that IBTH experiences smaller price fluctuations and is considered to be less risky than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTH | IEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 1.18% | -0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 0.59% | 3.64% | -3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.99% | 4.67% | -3.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.15% | 7.70% | -3.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 6.61% | -2.46% |
IBTH vs. IEF - Expense Ratio Comparison
IBTH has a 0.07% expense ratio, which is lower than IEF'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
IBTH vs. IEF - Dividend Comparison
IBTH's dividend yield for the trailing twelve months is around 3.81%, less than IEF's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTH iShares iBonds Dec 2027 Term Treasury ETF | 3.47% | 3.92% | 4.04% | 3.61% | 2.00% | 0.77% | 0.50% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEF iShares 7-10 Year Treasury Bond ETF | 3.62% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
Frequently Asked Questions
IBTH and IEF have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEF has higher volatility (1.18%) compared to IBTH (0.21%). In terms of maximum drawdown, IBTH dropped -16.16% vs IEF's -23.93%.
On 5-year performance, IBTH leads with 0.30% vs -1.80% for IEF. On fees, IBTH is cheaper at 0.07% per year. On volatility, IBTH has been the lower-risk option at 0.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBTH has performed better with a 0.30% return vs -1.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTH is cheaper with a 0.07% expense ratio, compared with 0.15% for IEF.
IEF has the higher dividend yield at 3.62%, compared with 3.47% for IBTH.
IBTH tracks ICE 2027 Maturity US Treasury Index, while IEF tracks ICE U.S. Treasury 7-10 Year Bond Index. Their fees differ too: 0.07% for IBTH and 0.15% for IEF.
IBTH currently has the higher Sharpe Ratio (3.79 vs 0.38), 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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