IBTM vs. MAGG
IBTM (iShares iBonds Dec 2032 Term Treasury ETF) and MAGG (Madison Aggregate Bond ETF) are both Intermediate Core Bond funds. IBTM is passively managed, while MAGG is actively managed. Over the past year, IBTM returned 3.09% vs 4.71% for MAGG. Their correlation of 0.88 suggests significant overlap in exposure. IBTM charges 0.07%/yr vs 0.40%/yr for MAGG.
Performance
IBTM vs. MAGG - Performance Comparison
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Returns By Period
In the year-to-date period, IBTM achieves a -0.61% return, which is significantly lower than MAGG's 0.25% return.
IBTM
- 1D
- -0.31%
- 1M
- 0.33%
- YTD
- -0.61%
- 6M
- -0.56%
- 1Y
- 3.09%
- 3Y*
- 2.71%
- 5Y*
- —
- 10Y*
- —
MAGG
- 1D
- -0.39%
- 1M
- 0.71%
- YTD
- 0.25%
- 6M
- 0.51%
- 1Y
- 4.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBTM vs. MAGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBTM iShares iBonds Dec 2032 Term Treasury ETF | -0.61% | 8.06% | -0.14% | 4.01% |
MAGG Madison Aggregate Bond ETF | 0.25% | 7.28% | 1.81% | 4.39% |
Correlation
The correlation between IBTM and MAGG is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2023 | 0.88 |
The correlation between IBTM and MAGG shifts across timeframes, from 0.73 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBTM vs. MAGG — Risk / Return Rank
IBTM
MAGG
IBTM vs. MAGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2032 Term Treasury ETF (IBTM) and Madison Aggregate Bond ETF (MAGG). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IBTM | MAGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.22 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 1.65 | -0.70 |
| Martin ratioReturn relative to average drawdown | 2.51 | 4.83 | -2.32 |
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Drawdowns
IBTM vs. MAGG - Drawdown Comparison
The maximum IBTM drawdown since its inception was -13.60%, which is greater than MAGG's maximum drawdown of -4.56%. Use the drawdown chart below to compare losses from any high point for IBTM and MAGG.
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Drawdown Indicators
| IBTM | MAGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.60% | -4.56% | -9.04% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -2.86% | -0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -7.86% | — | — |
Current DrawdownCurrent decline from peak | -2.49% | -1.43% | -1.06% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -1.25% | -3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 0.98% | +0.25% |
Volatility
IBTM vs. MAGG - Volatility Comparison
iShares iBonds Dec 2032 Term Treasury ETF (IBTM) has a higher volatility of 1.23% compared to Madison Aggregate Bond ETF (MAGG) at 0.87%. This indicates that IBTM's price experiences larger fluctuations and is considered to be riskier than MAGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTM | MAGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 0.87% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 2.66% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 3.95% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.53% | 4.73% | +2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.53% | 4.73% | +2.80% |
IBTM vs. MAGG - Expense Ratio Comparison
IBTM has a 0.07% expense ratio, which is lower than MAGG's 0.40% expense ratio.
Dividends
IBTM vs. MAGG - Dividend Comparison
IBTM's dividend yield for the trailing twelve months is around 3.96%, less than MAGG's 4.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBTM iShares iBonds Dec 2032 Term Treasury ETF | 3.96% | 3.87% | 3.96% | 3.39% | 1.38% |
MAGG Madison Aggregate Bond ETF | 4.73% | 4.80% | 5.13% | 1.49% | 0.00% |
Frequently Asked Questions
IBTM and MAGG have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBTM has higher volatility (1.23%) compared to MAGG (0.87%). In terms of maximum drawdown, IBTM dropped -13.60% vs MAGG's -4.56%.
On 1-year performance, MAGG leads with 4.71% vs 3.09% for IBTM. On fees, IBTM is cheaper at 0.07% per year. On volatility, MAGG 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, MAGG has performed better with a 4.71% return vs 3.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTM is cheaper with a 0.07% expense ratio, compared with 0.40% for MAGG.
MAGG has the higher dividend yield at 4.73%, compared with 3.96% for IBTM.
They also come from different issuers: iShares and Madison. Their fees differ too: 0.07% for IBTM and 0.40% for MAGG.
MAGG currently has the higher Sharpe Ratio (1.20 vs 0.77), 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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