IBTK vs. BNDD

Last updated Jun 4, 2026

IBTK (iShares iBonds Dec 2030 Term Treasury ETF) and BNDD (Quadratic Deflation ETF) are both Government Bonds funds. IBTK is passively managed, while BNDD is actively managed. Over the past 3 years, IBTK returned 3.17%/yr vs -3.91%/yr for BNDD. At a 0.43 correlation, their price movements are largely independent. IBTK charges 0.07%/yr vs 1.02%/yr for BNDD.

Performance

IBTK vs. BNDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2030 Term Treasury ETF (IBTK) and Quadratic Deflation ETF (BNDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBTK achieves a -0.34% return, which is significantly lower than BNDD's 4.32% return.

IBTK

• 1D: -0.13%
• 1M: -0.14%
• YTD: -0.34%
• 6M: -0.40%
• 1Y: 3.46%
• 3Y*: 3.17%
• 5Y*: -0.54%
• 10Y*: —

BNDD

• 1D: -0.08%
• 1M: 1.37%
• YTD: 4.32%
• 6M: 2.24%
• 1Y: 3.39%
• 3Y*: -3.91%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBTK vs. BNDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IBTK iShares iBonds Dec 2030 Term Treasury ETF	-0.34%	7.41%	1.18%	4.05%	-14.71%	-1.36%
BNDD Quadratic Deflation ETF	4.32%	-8.17%	-6.65%	4.02%	-17.48%	5.54%

Correlation

The correlation between IBTK and BNDD is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.43

The correlation between IBTK and BNDD shifts across timeframes, from 0.26 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IBTK vs. BNDD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBTK

IBTK Risk / Return Rank: 31
IBTK Sharpe Ratio Rank: 32
IBTK Sortino Ratio Rank: 33
IBTK Omega Ratio Rank: 29
IBTK Calmar Ratio Rank: 31
IBTK Martin Ratio Rank: 30

BNDD

BNDD Risk / Return Rank: 14
BNDD Sharpe Ratio Rank: 13
BNDD Sortino Ratio Rank: 12
BNDD Omega Ratio Rank: 12
BNDD Calmar Ratio Rank: 16
BNDD Martin Ratio Rank: 15

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBTK vs. BNDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2030 Term Treasury ETF (IBTK) and Quadratic Deflation ETF (BNDD). 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.

	IBTK	BNDD	Difference
Sharpe ratio Return per unit of total volatility	1.13	0.32	+0.81
Sortino ratio Return per unit of downside risk	1.73	0.52	+1.20
Omega ratio Gain probability vs. loss probability	1.20	1.06	+0.14
Calmar ratio Return relative to maximum drawdown	1.51	0.56	+0.95
Martin ratio Return relative to average drawdown	4.39	1.20	+3.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBTK vs. BNDD - Sharpe Ratio Comparison

The current IBTK Sharpe Ratio is 1.13, which is higher than the BNDD Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of IBTK and BNDD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBTK	BNDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	0.32	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.25	-0.33	+0.08

Drawdowns

IBTK vs. BNDD - Drawdown Comparison

The maximum IBTK drawdown since its inception was -22.84%, smaller than the maximum BNDD drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for IBTK and BNDD.

Drawdown Indicators

	IBTK	BNDD	Difference
Max Drawdown Largest peak-to-trough decline	-22.84%	-30.87%	+8.03%
Max Drawdown (1Y) Largest decline over 1 year	-2.31%	-6.09%	+3.78%
Max Drawdown (3Y) Largest decline over 3 years	-6.05%	-20.75%	+14.70%
Max Drawdown (5Y) Largest decline over 5 years	-19.22%	—	—
Current Drawdown Current decline from peak	-9.87%	-26.51%	+16.64%
Average Drawdown Average peak-to-trough decline	-12.57%	-19.34%	+6.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	2.83%	-2.04%

Volatility

IBTK vs. BNDD - Volatility Comparison

The current volatility for iShares iBonds Dec 2030 Term Treasury ETF (IBTK) is 0.87%, while Quadratic Deflation ETF (BNDD) has a volatility of 2.21%. This indicates that IBTK experiences smaller price fluctuations and is considered to be less risky than BNDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBTK	BNDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	2.21%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	2.03%	8.11%	-6.08%
Volatility (1Y) Calculated over the trailing 1-year period	3.07%	10.59%	-7.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.78%	13.38%	-6.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.57%	13.38%	-6.81%

IBTK vs. BNDD - Expense Ratio Comparison

IBTK has a 0.07% expense ratio, which is lower than BNDD's 1.02% expense ratio.

Dividends

IBTK vs. BNDD - Dividend Comparison

IBTK's dividend yield for the trailing twelve months is around 3.80%, more than BNDD's 3.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BNDD Quadratic Deflation ETF	3.61%	3.82%	3.85%	4.30%	43.17%	1.04%	0.00%
IBTK iShares iBonds Dec 2030 Term Treasury ETF	3.80%	3.79%	3.93%	3.05%	2.27%	0.84%	0.26%

Frequently Asked Questions

Can I hold both IBTK and BNDD in my portfolio?

IBTK and BNDD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBTK or BNDD?

BNDD has higher volatility (2.21%) compared to IBTK (0.87%). In terms of maximum drawdown, IBTK dropped -22.84% vs BNDD's -30.87%.

Which ETF is better, IBTK or BNDD?

On 3-year performance, IBTK leads with 3.17% vs -3.91% for BNDD. On fees, IBTK is cheaper at 0.07% per year. On volatility, IBTK has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBTK or BNDD?

Over the 3-year period, IBTK has performed better with a 3.17% return vs -3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBTK or BNDD?

IBTK is cheaper with a 0.07% expense ratio, compared with 1.02% for BNDD.

Which ETF pays a higher dividend yield, IBTK or BNDD?

IBTK has the higher dividend yield at 3.80%, compared with 3.61% for BNDD.

What is the main difference between IBTK and BNDD?

They also come from different issuers: iShares and KraneShares. Their fees differ too: 0.07% for IBTK and 1.02% for BNDD.

Which has better risk-adjusted returns?

IBTK currently has the higher Sharpe Ratio (1.13 vs 0.32), 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.