IBTM vs. PCRB
IBTM (iShares iBonds Dec 2032 Term Treasury ETF) and PCRB (Putnam ESG Core Bond ETF -) are both Intermediate Core Bond funds. IBTM is passively managed, while PCRB is actively managed. Their correlation of 0.94 suggests significant overlap in exposure. IBTM charges 0.07%/yr vs 0.35%/yr for PCRB.
Performance
IBTM vs. PCRB - Performance Comparison
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Returns By Period
IBTM
- 1D
- -0.33%
- 1M
- -0.44%
- 6M
- -0.79%
- YTD
- -0.79%
- 1Y
- 2.79%
- 3Y*
- 2.78%
- 5Y*
- —
- 10Y*
- —
PCRB
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBTM vs. PCRB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBTM iShares iBonds Dec 2032 Term Treasury ETF | -0.79% | 8.06% | -0.14% | -0.51% |
PCRB Putnam ESG Core Bond ETF - | -0.48% | 7.21% | 1.91% | 2.40% |
Correlation
The correlation between IBTM and PCRB is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | 0.94 |
The correlation between IBTM and PCRB has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
IBTM vs. PCRB — Risk / Return Rank
IBTM
PCRB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBTM vs. PCRB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2032 Term Treasury ETF (IBTM) and Putnam ESG Core Bond ETF - (PCRB). 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 | PCRB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.12 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | — | — |
| Martin ratioReturn relative to average drawdown | 2.14 | — | — |
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Drawdowns
IBTM vs. PCRB - Drawdown Comparison
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Drawdown Indicators
| IBTM | PCRB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.60% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -7.86% | — | — |
Current DrawdownCurrent decline from peak | -2.67% | — | — |
Average DrawdownAverage peak-to-trough decline | -4.75% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | — | — |
Volatility
IBTM vs. PCRB - Volatility Comparison
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Volatility by Period
| IBTM | PCRB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.01% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.49% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.49% | — | — |
IBTM vs. PCRB - Expense Ratio Comparison
IBTM has a 0.07% expense ratio, which is lower than PCRB's 0.35% expense ratio.
Dividends
IBTM vs. PCRB - Dividend Comparison
IBTM's dividend yield for the trailing twelve months is around 3.96%, while PCRB has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBTM iShares iBonds Dec 2032 Term Treasury ETF | 3.96% | 3.87% | 3.96% | 3.39% | 1.38% |
PCRB Putnam ESG Core Bond ETF - | 9.42% | 4.30% | 4.38% | 3.65% | 0.00% |
Frequently Asked Questions
IBTM and PCRB have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTM is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTM is cheaper with a 0.07% expense ratio, compared with 0.35% for PCRB.
PCRB has the higher dividend yield at 9.42%, compared with 3.96% for IBTM.
They also come from different issuers: iShares and Putnam. Their fees differ too: 0.07% for IBTM and 0.35% for PCRB.
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