IBTM vs. TAGG
IBTM (iShares iBonds Dec 2032 Term Treasury ETF) and TAGG (T. Rowe Price QM U.S. Bond ETF) are both Intermediate Core Bond funds. IBTM is passively managed, while TAGG is actively managed. Over the past 3 years, IBTM returned 2.68%/yr vs 4.26%/yr for TAGG. Their correlation of 0.92 suggests significant overlap in exposure. IBTM charges 0.07%/yr vs 0.08%/yr for TAGG.
Performance
IBTM vs. TAGG - Performance Comparison
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Returns By Period
In the year-to-date period, IBTM achieves a -0.50% return, which is significantly lower than TAGG's 0.18% return.
IBTM
- 1D
- -0.18%
- 1M
- -0.15%
- YTD
- -0.50%
- 6M
- -0.81%
- 1Y
- 3.93%
- 3Y*
- 2.68%
- 5Y*
- —
- 10Y*
- —
TAGG
- 1D
- -0.17%
- 1M
- 0.18%
- YTD
- 0.18%
- 6M
- 0.16%
- 1Y
- 5.22%
- 3Y*
- 4.26%
- 5Y*
- —
- 10Y*
- —
IBTM vs. TAGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBTM iShares iBonds Dec 2032 Term Treasury ETF | -0.50% | 8.06% | -0.14% | 3.48% | -4.63% |
TAGG T. Rowe Price QM U.S. Bond ETF | 0.18% | 7.40% | 1.73% | 5.72% | -3.19% |
Correlation
The correlation between IBTM and TAGG is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2022 | 0.92 |
The correlation between IBTM and TAGG has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
IBTM vs. TAGG — Risk / Return Rank
IBTM
TAGG
IBTM vs. TAGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2032 Term Treasury ETF (IBTM) and T. Rowe Price QM U.S. Bond ETF (TAGG). 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 | TAGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.25 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 1.64 | -0.43 |
| Martin ratioReturn relative to average drawdown | 3.51 | 4.86 | -1.35 |
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 | TAGG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 1.37 | -0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.04 | +0.16 |
Drawdowns
IBTM vs. TAGG - Drawdown Comparison
The maximum IBTM drawdown since its inception was -13.60%, smaller than the maximum TAGG drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for IBTM and TAGG.
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Drawdown Indicators
| IBTM | TAGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.60% | -17.26% | +3.66% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -3.19% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -7.86% | -6.40% | -1.46% |
Current DrawdownCurrent decline from peak | -2.38% | -2.03% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -4.82% | -6.87% | +2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 1.08% | +0.04% |
Volatility
IBTM vs. TAGG - Volatility Comparison
iShares iBonds Dec 2032 Term Treasury ETF (IBTM) and T. Rowe Price QM U.S. Bond ETF (TAGG) have volatilities of 1.20% and 1.19%, 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 | TAGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.19% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 2.69% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.09% | 3.83% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.56% | 6.53% | +1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.56% | 6.53% | +1.03% |
IBTM vs. TAGG - Expense Ratio Comparison
IBTM has a 0.07% expense ratio, which is lower than TAGG's 0.08% expense ratio. Despite the difference, 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. TAGG - Dividend Comparison
IBTM's dividend yield for the trailing twelve months is around 3.95%, less than TAGG's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
IBTM iShares iBonds Dec 2032 Term Treasury ETF | 3.95% | 3.87% | 3.96% | 3.39% | 1.38% | 0.00% |
TAGG T. Rowe Price QM U.S. Bond ETF | 4.58% | 4.36% | 4.36% | 3.48% | 3.67% | 0.33% |
Frequently Asked Questions
With a correlation of 0.91, IBTM and TAGG 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.
IBTM has higher volatility (1.20%) compared to TAGG (1.19%). In terms of maximum drawdown, IBTM dropped -13.60% vs TAGG's -17.26%.
On 3-year performance, TAGG leads with 4.26% vs 2.68% for IBTM. On fees, IBTM is cheaper at 0.07% 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, TAGG has performed better with a 4.26% return vs 2.68%. 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 0.08% for TAGG.
TAGG has the higher dividend yield at 4.58%, compared with 3.95% for IBTM.
They also come from different issuers: iShares and T. Rowe Price. Their fees differ too: 0.07% for IBTM and 0.08% for TAGG.
TAGG currently has the higher Sharpe Ratio (1.37 vs 0.96), 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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