IBTK vs. SMBS
IBTK (iShares iBonds Dec 2030 Term Treasury ETF) and SMBS (Schwab Mortgage-Backed Securities ETF) are both exchange-traded funds - IBTK is a Government Bonds fund tracking the ICE 2030 Maturity US Treasury Index, while SMBS is a Mortgage Backed Securities fund tracking the Bloomberg US MBS Float Adjusted Total Return Index. Both are passively managed. Over the past year, IBTK returned 3.46% vs 6.78% for SMBS. Their correlation of 0.88 suggests significant overlap in exposure. IBTK charges 0.07%/yr vs 0.03%/yr for SMBS.
Performance
IBTK vs. SMBS - Performance Comparison
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Returns By Period
In the year-to-date period, IBTK achieves a -0.34% return, which is significantly lower than SMBS's 0.70% return.
IBTK
- 1D
- -0.13%
- 1M
- -0.14%
- YTD
- -0.34%
- 6M
- -0.40%
- 1Y
- 3.46%
- 3Y*
- 3.17%
- 5Y*
- -0.54%
- 10Y*
- —
SMBS
- 1D
- -0.24%
- 1M
- 0.33%
- YTD
- 0.70%
- 6M
- 0.82%
- 1Y
- 6.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBTK vs. SMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBTK iShares iBonds Dec 2030 Term Treasury ETF | -0.34% | 7.41% | -0.11% |
SMBS Schwab Mortgage-Backed Securities ETF | 0.70% | 8.15% | -0.07% |
Correlation
The correlation between IBTK and SMBS is 0.87, 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 | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2024 | 0.88 |
The correlation between IBTK and SMBS has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.
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Return for Risk
IBTK vs. SMBS — Risk / Return Rank
IBTK
SMBS
IBTK vs. SMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2030 Term Treasury ETF (IBTK) and Schwab Mortgage-Backed Securities ETF (SMBS). 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 | SMBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.30 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | 2.41 | -0.90 |
| Martin ratioReturn relative to average drawdown | 4.39 | 8.21 | -3.83 |
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
| IBTK | SMBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 1.64 | -0.51 |
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 | 1.18 | -1.43 |
Drawdowns
IBTK vs. SMBS - Drawdown Comparison
The maximum IBTK drawdown since its inception was -22.84%, which is greater than SMBS's maximum drawdown of -3.20%. Use the drawdown chart below to compare losses from any high point for IBTK and SMBS.
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Drawdown Indicators
| IBTK | SMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.84% | -3.20% | -19.64% |
Max Drawdown (1Y)Largest decline over 1 year | -2.31% | -2.83% | +0.52% |
Max Drawdown (3Y)Largest decline over 3 years | -6.05% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.22% | — | — |
Current DrawdownCurrent decline from peak | -9.87% | -1.33% | -8.54% |
Average DrawdownAverage peak-to-trough decline | -12.57% | -0.84% | -11.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.83% | -0.04% |
Volatility
IBTK vs. SMBS - Volatility Comparison
The current volatility for iShares iBonds Dec 2030 Term Treasury ETF (IBTK) is 0.87%, while Schwab Mortgage-Backed Securities ETF (SMBS) has a volatility of 1.55%. This indicates that IBTK experiences smaller price fluctuations and is considered to be less risky than SMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTK | SMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 1.55% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 2.03% | 3.03% | -1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.07% | 4.15% | -1.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.78% | 4.86% | +1.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.57% | 4.86% | +1.71% |
IBTK vs. SMBS - Expense Ratio Comparison
IBTK has a 0.07% expense ratio, which is higher than SMBS's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBTK vs. SMBS - Dividend Comparison
IBTK's dividend yield for the trailing twelve months is around 3.80%, less than SMBS's 5.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IBTK iShares iBonds Dec 2030 Term Treasury ETF | 3.80% | 3.79% | 3.93% | 3.05% | 2.27% | 0.84% | 0.26% |
SMBS Schwab Mortgage-Backed Securities ETF | 5.17% | 4.83% | 0.50% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBTK and SMBS have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMBS has higher volatility (1.55%) compared to IBTK (0.87%). In terms of maximum drawdown, IBTK dropped -22.84% vs SMBS's -3.20%.
On 1-year performance, SMBS leads with 6.78% vs 3.46% for IBTK. On fees, SMBS is cheaper at 0.03% 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.
Over the 1-year period, SMBS has performed better with a 6.78% return vs 3.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMBS is cheaper with a 0.03% expense ratio, compared with 0.07% for IBTK.
SMBS has the higher dividend yield at 5.17%, compared with 3.80% for IBTK.
IBTK is categorized as Government Bonds, while SMBS is Mortgage Backed Securities. IBTK tracks ICE 2030 Maturity US Treasury Index, while SMBS tracks Bloomberg US MBS Float Adjusted Total Return Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.07% for IBTK and 0.03% for SMBS.
SMBS currently has the higher Sharpe Ratio (1.64 vs 1.13), 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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