IBTO vs. DMBS
IBTO (iShares iBonds Dec 2033 Term Treasury ETF) and DMBS (Doubleline Etf Trust - Mortgage ETF) are both Intermediate Core Bond funds. IBTO is passively managed, while DMBS is actively managed. Over the past 3 years, IBTO returned 2.95%/yr vs 4.54%/yr for DMBS. Their correlation of 0.93 means they have usually moved in the same direction. IBTO charges 0.07%/yr vs 0.49%/yr for DMBS.
Performance
IBTO vs. DMBS - Performance Comparison
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Returns By Period
In the year-to-date period, IBTO achieves a -1.17% return, which is significantly lower than DMBS's -0.38% return.
IBTO
- 1D
- -0.27%
- 1M
- -1.06%
- 6M
- -0.99%
- YTD
- -1.17%
- 1Y
- 0.84%
- 3Y*
- 2.95%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.48%
DMBS
- 1D
- -0.47%
- 1M
- -1.36%
- 6M
- -0.85%
- YTD
- -0.38%
- 1Y
- 3.05%
- 3Y*
- 4.54%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.27M | $2.67M | $3.33M | |
| $4.47M | $2.89M | $2.06M |
IBTO vs. DMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBTO iShares iBonds Dec 2033 Term Treasury ETF | -1.17% | 8.23% | -0.87% | 1.71% |
DMBS Doubleline Etf Trust - Mortgage ETF | -0.38% | 8.54% | 2.09% | 2.01% |
Correlation
The correlation between IBTO and DMBS is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023 | 0.93 |
The correlation between IBTO and DMBS has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.
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Return for Risk
IBTO vs. DMBS — Risk / Return Rank
IBTO
DMBS
IBTO vs. DMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2033 Term Treasury ETF (IBTO) and Doubleline Etf Trust - Mortgage ETF (DMBS). 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.
| IBTO | DMBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.17 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 1.25 | -0.69 |
| Martin ratioReturn relative to average drawdown | 1.25 | 3.65 | -2.40 |
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Drawdowns
IBTO vs. DMBS - Drawdown Comparison
The maximum IBTO drawdown since its inception was -8.36%, roughly equal to the maximum DMBS drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for IBTO and DMBS.
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Drawdown Indicators
| IBTO | DMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.36% | -8.14% | -0.22% |
Max Drawdown (1Y)Largest decline over 1 year | -3.66% | -3.20% | -0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -6.91% | -6.19% | -0.72% |
Current DrawdownCurrent decline from peak | -3.22% | -2.46% | -0.76% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -1.69% | -0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.09% | +0.52% |
Volatility
IBTO vs. DMBS - Volatility Comparison
The current volatility for iShares iBonds Dec 2033 Term Treasury ETF (IBTO) is 1.04%, while Doubleline Etf Trust - Mortgage ETF (DMBS) has a volatility of 1.31%. This indicates that IBTO experiences smaller price fluctuations and is considered to be less risky than DMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTO | DMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 1.31% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 3.28% | 3.37% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.31% | 4.17% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.51% | 6.21% | +0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.51% | 6.21% | +0.30% |
IBTO vs. DMBS - Expense Ratio Comparison
IBTO has a 0.07% expense ratio, which is lower than DMBS's 0.49% expense ratio.
Dividends
IBTO vs. DMBS - Dividend Comparison
IBTO's dividend yield for the trailing twelve months is around 4.18%, less than DMBS's 5.19% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
DMBS Doubleline Etf Trust - Mortgage ETF | 4.78% | 4.96% | 4.97% | 2.82% |
IBTO iShares iBonds Dec 2033 Term Treasury ETF | 3.83% | 4.05% | 4.23% | 1.66% |
Frequently Asked Questions
With a correlation of 0.93, IBTO and DMBS 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.
DMBS has higher volatility (1.31%) compared to IBTO (1.04%). In terms of maximum drawdown, IBTO dropped -8.36% vs DMBS's -8.14%.
On 3-year performance, DMBS leads with 4.54% vs 2.95% for IBTO. On fees, IBTO is cheaper at 0.07% per year. On volatility, IBTO has been the lower-risk option at 1.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DMBS has performed better with a 4.54% return vs 2.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTO is cheaper with a 0.07% expense ratio, compared with 0.49% for DMBS.
DMBS has the higher dividend yield at 4.78%, compared with 3.83% for IBTO.
They also come from different issuers: iShares and DoubleLine. Their fees differ too: 0.07% for IBTO and 0.49% for DMBS.
DMBS currently has the higher Sharpe Ratio (0.96 vs 0.47), 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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