IBTJ vs. GOVZ
IBTJ (iShares iBonds Dec 2029 Term Treasury ETF) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both Government Bonds funds from iShares - IBTJ tracks the ICE 2029 Maturity US Treasury Index while GOVZ tracks the ICE BofA Long US Treasury Principal STRIPS Index. Both are passively managed. Over the past 5 years, IBTJ returned 0.01%/yr vs -11.20%/yr for GOVZ. A 0.77 correlation means they provide meaningful diversification when combined. IBTJ charges 0.07%/yr vs 0.15%/yr for GOVZ.
Performance
IBTJ vs. GOVZ - Performance Comparison
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Returns By Period
In the year-to-date period, IBTJ achieves a 0.18% return, which is significantly lower than GOVZ's 3.43% return.
IBTJ
- 1D
- 0.05%
- 1M
- 0.27%
- YTD
- 0.18%
- 6M
- 0.31%
- 1Y
- 2.81%
- 3Y*
- 3.67%
- 5Y*
- 0.01%
- 10Y*
- —
GOVZ
- 1D
- -0.13%
- 1M
- 5.88%
- YTD
- 3.43%
- 6M
- 1.35%
- 1Y
- 4.02%
- 3Y*
- -6.88%
- 5Y*
- -11.20%
- 10Y*
- —
IBTJ vs. GOVZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBTJ iShares iBonds Dec 2029 Term Treasury ETF | 0.18% | 6.89% | 1.82% | 4.49% | -12.45% | -3.57% | -1.27% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 3.43% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
Correlation
The correlation between IBTJ and GOVZ is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.77 |
The correlation between IBTJ and GOVZ shifts across timeframes, from 0.63 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBTJ vs. GOVZ — Risk / Return Rank
IBTJ
GOVZ
IBTJ vs. GOVZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2029 Term Treasury ETF (IBTJ) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). 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.
| IBTJ | GOVZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.05 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 0.28 | +1.46 |
| Martin ratioReturn relative to average drawdown | 4.49 | 0.62 | +3.87 |
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Drawdowns
IBTJ vs. GOVZ - Drawdown Comparison
The maximum IBTJ drawdown since its inception was -20.19%, smaller than the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for IBTJ and GOVZ.
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Drawdown Indicators
| IBTJ | GOVZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.19% | -59.65% | +39.46% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -14.16% | +12.54% |
Max Drawdown (3Y)Largest decline over 3 years | -4.43% | -28.72% | +24.29% |
Max Drawdown (5Y)Largest decline over 5 years | -17.21% | -57.63% | +40.42% |
Current DrawdownCurrent decline from peak | -6.04% | -54.55% | +48.51% |
Average DrawdownAverage peak-to-trough decline | -9.69% | -40.05% | +30.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 6.52% | -5.89% |
Volatility
IBTJ vs. GOVZ - Volatility Comparison
The current volatility for iShares iBonds Dec 2029 Term Treasury ETF (IBTJ) is 0.73%, while iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a volatility of 4.06%. This indicates that IBTJ experiences smaller price fluctuations and is considered to be less risky than GOVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTJ | GOVZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 4.06% | -3.33% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 10.90% | -9.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.39% | 15.85% | -13.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.72% | 23.87% | -18.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.97% | 23.28% | -17.31% |
IBTJ vs. GOVZ - Expense Ratio Comparison
IBTJ has a 0.07% expense ratio, which is lower than GOVZ'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
IBTJ vs. GOVZ - Dividend Comparison
IBTJ's dividend yield for the trailing twelve months is around 3.80%, less than GOVZ's 4.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 4.96% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% |
IBTJ iShares iBonds Dec 2029 Term Treasury ETF | 3.80% | 3.78% | 3.95% | 3.48% | 1.86% | 0.74% | 0.61% |
Frequently Asked Questions
IBTJ and GOVZ have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (4.06%) compared to IBTJ (0.73%). In terms of maximum drawdown, IBTJ dropped -20.19% vs GOVZ's -59.65%.
On 5-year performance, IBTJ leads with 0.01% vs -11.20% for GOVZ. On fees, IBTJ is cheaper at 0.07% per year. On volatility, IBTJ has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBTJ has performed better with a 0.01% return vs -11.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTJ is cheaper with a 0.07% expense ratio, compared with 0.15% for GOVZ.
GOVZ has the higher dividend yield at 4.96%, compared with 3.80% for IBTJ.
IBTJ tracks ICE 2029 Maturity US Treasury Index, while GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index. Their fees differ too: 0.07% for IBTJ and 0.15% for GOVZ.
IBTJ currently has the higher Sharpe Ratio (1.18 vs 0.25), 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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