IBTI vs. IEI
IBTI (iShares iBonds Dec 2028 Term Treasury ETF) and IEI (iShares 3-7 Year Treasury Bond ETF) are both Government Bonds funds from iShares - IBTI tracks the ICE 2028 Maturity US Treasury Index while IEI tracks the ICE U.S. Treasury 3-7 Year Bond Index. Both are passively managed. Over the past 5 years, IBTI returned 0.19%/yr vs 0.23%/yr for IEI. Their correlation of 0.92 suggests significant overlap in exposure. IBTI charges 0.07%/yr vs 0.15%/yr for IEI.
Performance
IBTI vs. IEI - Performance Comparison
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Returns By Period
In the year-to-date period, IBTI achieves a 0.31% return, which is significantly higher than IEI's -0.42% return.
IBTI
- 1D
- -0.05%
- 1M
- 0.05%
- YTD
- 0.31%
- 6M
- 0.52%
- 1Y
- 3.59%
- 3Y*
- 3.72%
- 5Y*
- 0.19%
- 10Y*
- —
IEI
- 1D
- -0.13%
- 1M
- -0.17%
- YTD
- -0.42%
- 6M
- -0.49%
- 1Y
- 3.28%
- 3Y*
- 3.52%
- 5Y*
- 0.23%
- 10Y*
- 1.28%
IBTI vs. IEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 0.31% | 6.15% | 2.52% | 4.65% | -11.32% | -3.50% | 3.65% |
IEI iShares 3-7 Year Treasury Bond ETF | -0.42% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 3.07% |
Correlation
The correlation between IBTI and IEI is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020 | 0.92 |
The correlation between IBTI and IEI has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
IBTI vs. IEI — Risk / Return Rank
IBTI
IEI
IBTI vs. IEI - 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 3-7 Year Treasury Bond ETF (IEI). 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.
| IBTI | IEI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.05 | 1.09 | +0.97 |
Sortino ratioReturn per unit of downside risk | 3.37 | 1.65 | +1.72 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.19 | +0.22 |
Calmar ratioReturn relative to maximum drawdown | 3.28 | 1.32 | +1.96 |
Martin ratioReturn relative to average drawdown | 11.08 | 3.96 | +7.12 |
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
| IBTI | IEI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 1.09 | +0.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.05 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.33 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.70 | -0.66 |
Drawdowns
IBTI vs. IEI - Drawdown Comparison
The maximum IBTI drawdown since its inception was -18.45%, which is greater than IEI's maximum drawdown of -14.60%. Use the drawdown chart below to compare losses from any high point for IBTI and IEI.
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Drawdown Indicators
| IBTI | IEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.45% | -14.60% | -3.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -2.50% | +1.40% |
Max Drawdown (3Y)Largest decline over 3 years | -3.24% | -3.66% | +0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -16.18% | -13.88% | -2.30% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.60% | — |
Current DrawdownCurrent decline from peak | -3.91% | -1.85% | -2.06% |
Average DrawdownAverage peak-to-trough decline | -8.26% | -2.67% | -5.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 0.83% | -0.51% |
Volatility
IBTI vs. IEI - Volatility Comparison
The current volatility for iShares iBonds Dec 2028 Term Treasury ETF (IBTI) is 0.37%, while iShares 3-7 Year Treasury Bond ETF (IEI) has a volatility of 0.91%. This indicates that IBTI experiences smaller price fluctuations and is considered to be less risky than IEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTI | IEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 0.91% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 1.06% | 2.13% | -1.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.76% | 3.04% | -1.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 4.77% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.17% | 3.93% | +1.24% |
IBTI vs. IEI - Expense Ratio Comparison
IBTI has a 0.07% expense ratio, which is lower than IEI'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
IBTI vs. IEI - Dividend Comparison
IBTI's dividend yield for the trailing twelve months is around 3.81%, more than IEI's 3.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 3.81% | 3.87% | 3.92% | 3.27% | 1.70% | 0.90% | 0.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEI iShares 3-7 Year Treasury Bond ETF | 3.64% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
Frequently Asked Questions
With a correlation of 0.94, IBTI and IEI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IEI has higher volatility (0.91%) compared to IBTI (0.37%). In terms of maximum drawdown, IBTI dropped -18.45% vs IEI's -14.60%.
On 5-year performance, IEI leads with 0.23% vs 0.19% for IBTI. On fees, IBTI is cheaper at 0.07% per year. On volatility, IBTI has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IEI has performed better with a 0.23% return vs 0.19%. 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 0.15% for IEI.
IBTI has the higher dividend yield at 3.81%, compared with 3.64% for IEI.
IBTI tracks ICE 2028 Maturity US Treasury Index, while IEI tracks ICE U.S. Treasury 3-7 Year Bond Index. Their fees differ too: 0.07% for IBTI and 0.15% for IEI.
IBTI currently has the higher Sharpe Ratio (2.05 vs 1.09), 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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