IBTM vs. BBAG
IBTM (iShares iBonds Dec 2032 Term Treasury ETF) and BBAG (JPMorgan BetaBuilders U.S. Aggregate Bond ETF) are both Intermediate Core Bond funds - IBTM tracks the ICE 2032 Maturity US Treasury Index while BBAG tracks the Bloomberg US Aggregate Bond Index. Both are passively managed. Over the past 3 years, IBTM returned 2.74%/yr vs 3.92%/yr for BBAG. With a 0.95 correlation, they move nearly in lockstep. IBTM charges 0.07%/yr vs 0.03%/yr for BBAG.
Performance
IBTM vs. BBAG - Performance Comparison
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Returns By Period
In the year-to-date period, IBTM achieves a -0.36% return, which is significantly lower than BBAG's 0.32% return.
IBTM
- 1D
- 0.13%
- 1M
- -0.11%
- YTD
- -0.36%
- 6M
- -0.38%
- 1Y
- 3.43%
- 3Y*
- 2.74%
- 5Y*
- —
- 10Y*
- —
BBAG
- 1D
- 0.15%
- 1M
- 0.18%
- YTD
- 0.32%
- 6M
- 0.39%
- 1Y
- 4.67%
- 3Y*
- 3.92%
- 5Y*
- 0.02%
- 10Y*
- —
IBTM vs. BBAG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBTM iShares iBonds Dec 2032 Term Treasury ETF | -0.36% | 8.06% | -0.14% | 3.48% | -4.63% |
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF | 0.32% | 7.27% | 1.26% | 5.41% | -2.79% |
Correlation
The correlation between IBTM and BBAG is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2022 | 0.95 |
The correlation between IBTM and BBAG has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
IBTM vs. BBAG — Risk / Return Rank
IBTM
BBAG
IBTM vs. BBAG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2032 Term Treasury ETF (IBTM) and JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG). 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.
| IBTM | BBAG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.21 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 1.69 | -0.64 |
| Martin ratioReturn relative to average drawdown | 3.04 | 5.04 | -2.00 |
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
| IBTM | BBAG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | 1.21 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.00 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.32 | -0.12 |
Drawdowns
IBTM vs. BBAG - Drawdown Comparison
The maximum IBTM drawdown since its inception was -13.60%, smaller than the maximum BBAG drawdown of -18.73%. Use the drawdown chart below to compare losses from any high point for IBTM and BBAG.
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Drawdown Indicators
| IBTM | BBAG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.60% | -18.73% | +5.13% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -2.78% | -0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -7.86% | -6.18% | -1.68% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.06% | — |
Current DrawdownCurrent decline from peak | -2.25% | -2.70% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -4.82% | -6.22% | +1.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 0.93% | +0.20% |
Volatility
IBTM vs. BBAG - Volatility Comparison
iShares iBonds Dec 2032 Term Treasury ETF (IBTM) and JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG) have volatilities of 1.20% and 1.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTM | BBAG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.24% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 2.83% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.09% | 3.92% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.55% | 5.92% | +1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.55% | 5.80% | +1.75% |
IBTM vs. BBAG - Expense Ratio Comparison
IBTM has a 0.07% expense ratio, which is higher than BBAG'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
IBTM vs. BBAG - Dividend Comparison
IBTM's dividend yield for the trailing twelve months is around 3.95%, less than BBAG's 4.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF | 4.36% | 4.29% | 4.25% | 3.60% | 2.23% | 1.44% | 2.26% | 2.92% | 0.16% |
IBTM iShares iBonds Dec 2032 Term Treasury ETF | 3.95% | 3.87% | 3.96% | 3.39% | 1.38% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, IBTM and BBAG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BBAG has higher volatility (1.24%) compared to IBTM (1.20%). In terms of maximum drawdown, IBTM dropped -13.60% vs BBAG's -18.73%.
On 3-year performance, BBAG leads with 3.92% vs 2.74% for IBTM. On fees, BBAG is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BBAG has performed better with a 3.92% return vs 2.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBAG is cheaper with a 0.03% expense ratio, compared with 0.07% for IBTM.
BBAG has the higher dividend yield at 4.36%, compared with 3.95% for IBTM.
IBTM tracks ICE 2032 Maturity US Treasury Index, while BBAG tracks Bloomberg US Aggregate Bond Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.07% for IBTM and 0.03% for BBAG.
BBAG currently has the higher Sharpe Ratio (1.21 vs 0.85), 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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