IBTL vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about iShares iBonds Dec 2031 Term Treasury ETF (IBTL) and S&P 500 Index (^GSPC).

IBTL is a passively managed fund by iShares that tracks the performance of the ICE 2031 Maturity US Treasury Index. It was launched on Jul 13, 2021.

Performance

IBTL vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2031 Term Treasury ETF (IBTL) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

IBTL vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IBTL iShares iBonds Dec 2031 Term Treasury ETF	-0.14%	7.85%	0.36%	3.60%	-15.60%	-1.37%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	5.24%

Returns By Period

In the year-to-date period, IBTL achieves a -0.14% return, which is significantly higher than ^GSPC's -3.95% return.

IBTL

• 1D: -0.13%
• 1M: -1.32%
• YTD: -0.14%
• 6M: 0.64%
• 1Y: 3.97%
• 3Y*: 2.58%
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

IBTL vs. ^GSPC — Risk / Return Rank

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

IBTL

IBTL Risk / Return Rank: 50
IBTL Sharpe Ratio Rank: 50
IBTL Sortino Ratio Rank: 50
IBTL Omega Ratio Rank: 40
IBTL Calmar Ratio Rank: 63
IBTL Martin Ratio Rank: 48

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

IBTL vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2031 Term Treasury ETF (IBTL) and S&P 500 Index (^GSPC). 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.

	IBTL	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.94	0.92	+0.03
Sortino ratio Return per unit of downside risk	1.41	1.41	0.00
Omega ratio Gain probability vs. loss probability	1.17	1.21	-0.05
Calmar ratio Return relative to maximum drawdown	1.69	1.41	+0.28
Martin ratio Return relative to average drawdown	4.83	6.61	-1.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBTL vs. ^GSPC - Sharpe Ratio Comparison

The current IBTL Sharpe Ratio is 0.94, which is comparable to the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of IBTL and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IBTL	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	0.92	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.20	0.46	-0.66

Correlation

The correlation between IBTL and ^GSPC is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

IBTL vs. ^GSPC - Drawdown Comparison

The maximum IBTL drawdown since its inception was -20.93%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for IBTL and ^GSPC.

Drawdown Indicators

	IBTL	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-20.93%	-56.78%	+35.85%
Max Drawdown (1Y) Largest decline over 1 year	-2.48%	-12.14%	+9.66%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	-6.95%	-5.78%	-1.17%
Average Drawdown Average peak-to-trough decline	-11.63%	-10.75%	-0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	2.60%	-1.73%

Volatility

IBTL vs. ^GSPC - Volatility Comparison

The current volatility for iShares iBonds Dec 2031 Term Treasury ETF (IBTL) is 1.31%, while S&P 500 Index (^GSPC) has a volatility of 5.37%. This indicates that IBTL experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBTL	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	5.37%	-4.06%
Volatility (6M) Calculated over the trailing 6-month period	2.37%	9.55%	-7.18%
Volatility (1Y) Calculated over the trailing 1-year period	4.23%	18.33%	-14.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.57%	16.90%	-9.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.57%	18.05%	-10.48%