IBTI vs. IBIT
IBTI (iShares iBonds Dec 2028 Term Treasury ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - IBTI is a Government Bonds fund tracking the ICE 2028 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, IBTI returned 2.67% vs -44.19% for IBIT. Their -0.02 correlation means they have often moved in opposite directions in the past. IBTI charges 0.07%/yr vs 0.25%/yr for IBIT.
Performance
IBTI vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, IBTI achieves a 0.82% return, which is significantly higher than IBIT's -26.71% return.
IBTI
- 1D
- 0.16%
- 1M
- 0.22%
- 6M
- 0.72%
- YTD
- 0.82%
- 1Y
- 2.67%
- 3Y*
- 4.13%
- 5Y*
- -0.06%
- 10Y*
- —
- ALL TIME*
- 0.33%
IBIT
- 1D
- 0.64%
- 1M
- 4.36%
- 6M
- -15.96%
- YTD
- -26.71%
- 1Y
- -44.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.29B | $1.33B | $1.64B | |
| $9.92M | $10.63M | $9.25M |
IBTI vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 0.82% | 6.15% | 2.94% |
IBIT iShares Bitcoin Trust ETF | -26.71% | -6.41% | 89.87% |
Correlation
The correlation between IBTI and IBIT is 0.07, 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. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | -0.02 |
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Return for Risk
IBTI vs. IBIT — Risk / Return Rank
IBTI
IBIT
IBTI vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2028 Term Treasury ETF (IBTI) 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.
| IBTI | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.76 | ||
| Sortino ratioReturn per unit of downside risk | +4.13 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.84 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | -0.83 | +3.27 |
| Martin ratioReturn relative to average drawdown | 7.70 | -1.27 | +8.97 |
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Drawdowns
IBTI vs. IBIT - Drawdown Comparison
The maximum IBTI drawdown since its inception was -18.45%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for IBTI and IBIT.
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Drawdown Indicators
| IBTI | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.45% | -53.30% | +34.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -53.30% | +52.20% |
Max Drawdown (3Y)Largest decline over 3 years | -2.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.72% | — | — |
Current DrawdownCurrent decline from peak | -3.42% | -48.95% | +45.53% |
Average DrawdownAverage peak-to-trough decline | -8.13% | -18.34% | +10.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.35% | 34.94% | -34.59% |
Volatility
IBTI vs. IBIT - Volatility Comparison
The current volatility for iShares iBonds Dec 2028 Term Treasury ETF (IBTI) is 0.39%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 8.29%. This indicates that IBTI 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.
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Volatility by Period
| IBTI | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 8.29% | -7.90% |
Volatility (6M)Calculated over the trailing 6-month period | 1.15% | 33.07% | -31.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.52% | 44.40% | -42.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.97% | 49.53% | -44.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.11% | 49.53% | -44.42% |
IBTI vs. IBIT - Expense Ratio Comparison
IBTI 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
IBTI vs. IBIT - Dividend Comparison
IBTI's dividend yield for the trailing twelve months is around 3.77%, 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% |
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 3.77% | 3.87% | 3.92% | 3.27% | 1.70% | 0.90% | 0.56% |
Frequently Asked Questions
IBTI and IBIT have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (8.29%) compared to IBTI (0.39%). In terms of maximum drawdown, IBTI dropped -18.45% vs IBIT's -53.30%.
On 1-year performance, IBTI leads with 2.67% vs -44.19% for IBIT. On fees, IBTI is cheaper at 0.07% per year. On volatility, IBTI has been the lower-risk option at 0.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBTI has performed better with a 2.67% return vs -44.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTI is cheaper with a 0.07% expense ratio, compared with 0.25% for IBIT.
IBTI has the higher dividend yield at 3.77%, compared with 0.00% for IBIT.
IBTI is categorized as Government Bonds, while IBIT is Cryptocurrency. IBTI tracks ICE 2028 Maturity US Treasury Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.07% for IBTI and 0.25% for IBIT.
IBTI currently has the higher Sharpe Ratio (1.76 vs -1.00), 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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