IBTL vs. XHLF

Last updated Jun 3, 2026

IBTL (iShares iBonds Dec 2031 Term Treasury ETF) and XHLF (BondBloxx Bloomberg Six Month Target Duration US Treasury ETF) are both Government Bonds funds - IBTL tracks the ICE 2031 Maturity US Treasury Index while XHLF tracks the Bloomberg US Treasury 6 Month Duration Index. Both are passively managed. Over the past 3 years, IBTL returned 2.88%/yr vs 4.62%/yr for XHLF. At a 0.28 correlation, their price movements are largely independent. IBTL charges 0.07%/yr vs 0.03%/yr for XHLF.

Performance

IBTL vs. XHLF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2031 Term Treasury ETF (IBTL) and BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBTL achieves a -0.32% return, which is significantly lower than XHLF's 1.39% return.

IBTL

• 1D: 0.01%
• 1M: -0.30%
• YTD: -0.32%
• 6M: -0.35%
• 1Y: 3.80%
• 3Y*: 2.88%
• 5Y*: —
• 10Y*: —

XHLF

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.39%
• 6M: 1.71%
• 1Y: 3.92%
• 3Y*: 4.62%
• 5Y*: —
• 10Y*: —

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

IBTL vs. XHLF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IBTL iShares iBonds Dec 2031 Term Treasury ETF	-0.32%	7.85%	0.36%	3.60%	-1.96%
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF	1.39%	4.21%	5.04%	4.90%	0.96%

Correlation

The correlation between IBTL and XHLF is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022	0.29

Over the past year, the correlation between IBTL and XHLF has dropped to 0.08 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.

Return for Risk

IBTL vs. XHLF — Risk / Return Rank

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

IBTL

IBTL Risk / Return Rank: 28
IBTL Sharpe Ratio Rank: 29
IBTL Sortino Ratio Rank: 30
IBTL Omega Ratio Rank: 28
IBTL Calmar Ratio Rank: 26
IBTL Martin Ratio Rank: 26

XHLF

XHLF Risk / Return Rank: 100
XHLF Sharpe Ratio Rank: 100
XHLF Sortino Ratio Rank: 100
XHLF Omega Ratio Rank: 100
XHLF Calmar Ratio Rank: 100
XHLF Martin Ratio Rank: 100

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. XHLF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2031 Term Treasury ETF (IBTL) and BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF). 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	XHLF	Difference
Sharpe ratio Return per unit of total volatility	1.06	12.43	-11.38
Sortino ratio Return per unit of downside risk	1.61	45.85	-44.23
Omega ratio Gain probability vs. loss probability	1.19	11.75	-10.56
Calmar ratio Return relative to maximum drawdown	1.27	98.98	-97.71
Martin ratio Return relative to average drawdown	3.74	672.83	-669.09
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. XHLF - Sharpe Ratio Comparison

The current IBTL Sharpe Ratio is 1.06, which is lower than the XHLF Sharpe Ratio of 12.43. The chart below compares the historical Sharpe Ratios of IBTL and XHLF, 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

	IBTL	XHLF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	12.43	-11.38
Sharpe Ratio (All Time) Calculated using the full available price history	-0.20	10.76	-10.96

Drawdowns

IBTL vs. XHLF - Drawdown Comparison

The maximum IBTL drawdown since its inception was -20.93%, which is greater than XHLF's maximum drawdown of -0.11%. Use the drawdown chart below to compare losses from any high point for IBTL and XHLF.

Drawdown Indicators

	IBTL	XHLF	Difference
Max Drawdown Largest peak-to-trough decline	-20.93%	-0.11%	-20.82%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	-0.04%	-2.79%
Max Drawdown (3Y) Largest decline over 3 years	-7.38%	-0.06%	-7.32%
Current Drawdown Current decline from peak	-7.11%	0.00%	-7.11%
Average Drawdown Average peak-to-trough decline	-11.47%	-0.00%	-11.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	0.01%	+0.95%

Volatility

IBTL vs. XHLF - Volatility Comparison

iShares iBonds Dec 2031 Term Treasury ETF (IBTL) has a higher volatility of 1.09% compared to BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) at 0.08%. This indicates that IBTL's price experiences larger fluctuations and is considered to be riskier than XHLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBTL	XHLF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	0.08%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	2.42%	0.22%	+2.20%
Volatility (1Y) Calculated over the trailing 1-year period	3.62%	0.32%	+3.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.46%	0.42%	+7.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.46%	0.42%	+7.04%

IBTL vs. XHLF - Expense Ratio Comparison

IBTL has a 0.07% expense ratio, which is higher than XHLF'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

IBTL vs. XHLF - Dividend Comparison

IBTL's dividend yield for the trailing twelve months is around 3.97%, more than XHLF's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021
IBTL iShares iBonds Dec 2031 Term Treasury ETF	3.97%	3.93%	4.07%	3.04%	2.36%	0.70%
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF	3.85%	3.98%	4.96%	4.50%	0.86%	0.00%

Frequently Asked Questions

Can I hold both IBTL and XHLF in my portfolio?

IBTL and XHLF have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBTL or XHLF?

IBTL has higher volatility (1.09%) compared to XHLF (0.08%). In terms of maximum drawdown, IBTL dropped -20.93% vs XHLF's -0.11%.

Which ETF is better, IBTL or XHLF?

On 3-year performance, XHLF leads with 4.62% vs 2.88% for IBTL. On fees, XHLF is cheaper at 0.03% per year. On volatility, XHLF has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBTL or XHLF?

Over the 3-year period, XHLF has performed better with a 4.62% return vs 2.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBTL or XHLF?

XHLF is cheaper with a 0.03% expense ratio, compared with 0.07% for IBTL.

Which ETF pays a higher dividend yield, IBTL or XHLF?

IBTL has the higher dividend yield at 3.97%, compared with 3.85% for XHLF.

What is the main difference between IBTL and XHLF?

IBTL tracks ICE 2031 Maturity US Treasury Index, while XHLF tracks Bloomberg US Treasury 6 Month Duration Index. They also come from different issuers: iShares and BondBloxx. Their fees differ too: 0.07% for IBTL and 0.03% for XHLF.

Which has better risk-adjusted returns?

XHLF currently has the higher Sharpe Ratio (12.43 vs 1.05), 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.