IBTO vs. UNIY
IBTO (iShares iBonds Dec 2033 Term Treasury ETF) and UNIY (WisdomTree Voya Yield Enchanced USD Universal Bond Fund) are both Intermediate Core Bond funds - IBTO tracks the ICE 2033 Maturity US Treasury Index while UNIY tracks the Bloomberg US Universal Enhanced Yield Index. Both are passively managed. Over the past year, IBTO returned 3.25% vs 4.90% for UNIY. Their correlation of 0.93 suggests significant overlap in exposure. IBTO charges 0.07%/yr vs 0.15%/yr for UNIY.
Performance
IBTO vs. UNIY - Performance Comparison
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Returns By Period
In the year-to-date period, IBTO achieves a -0.64% return, which is significantly lower than UNIY's 0.59% return.
IBTO
- 1D
- -0.29%
- 1M
- 0.37%
- YTD
- -0.64%
- 6M
- -0.60%
- 1Y
- 3.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UNIY
- 1D
- -0.25%
- 1M
- 0.67%
- YTD
- 0.59%
- 6M
- 0.70%
- 1Y
- 4.90%
- 3Y*
- 4.55%
- 5Y*
- —
- 10Y*
- —
IBTO vs. UNIY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBTO iShares iBonds Dec 2033 Term Treasury ETF | -0.64% | 8.23% | -0.87% | 1.71% |
UNIY WisdomTree Voya Yield Enchanced USD Universal Bond Fund | 0.59% | 7.37% | 1.86% | 3.62% |
Correlation
The correlation between IBTO and UNIY 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 (All Time) Calculated using the full available price history since Jun 29, 2023 | 0.93 |
The correlation between IBTO and UNIY has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
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Return for Risk
IBTO vs. UNIY — Risk / Return Rank
IBTO
UNIY
IBTO vs. UNIY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2033 Term Treasury ETF (IBTO) and WisdomTree Voya Yield Enchanced USD Universal Bond Fund (UNIY). 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 | UNIY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.23 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 1.94 | -1.05 |
| Martin ratioReturn relative to average drawdown | 2.36 | 5.82 | -3.46 |
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Drawdowns
IBTO vs. UNIY - Drawdown Comparison
The maximum IBTO drawdown since its inception was -8.36%, which is greater than UNIY's maximum drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for IBTO and UNIY.
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Drawdown Indicators
| IBTO | UNIY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.36% | -6.27% | -2.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.66% | -2.53% | -1.13% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.40% | — |
Current DrawdownCurrent decline from peak | -2.69% | -0.99% | -1.70% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -1.38% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 0.84% | +0.54% |
Volatility
IBTO vs. UNIY - Volatility Comparison
iShares iBonds Dec 2033 Term Treasury ETF (IBTO) has a higher volatility of 1.27% compared to WisdomTree Voya Yield Enchanced USD Universal Bond Fund (UNIY) at 1.06%. This indicates that IBTO's price experiences larger fluctuations and is considered to be riskier than UNIY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTO | UNIY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 1.06% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 3.15% | 2.80% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 3.68% | +0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.59% | 4.84% | +1.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.59% | 4.84% | +1.75% |
IBTO vs. UNIY - Expense Ratio Comparison
IBTO has a 0.07% expense ratio, which is lower than UNIY's 0.15% 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
IBTO vs. UNIY - Dividend Comparison
IBTO's dividend yield for the trailing twelve months is around 4.15%, less than UNIY's 4.84% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBTO iShares iBonds Dec 2033 Term Treasury ETF | 4.15% | 4.05% | 4.23% | 1.66% |
UNIY WisdomTree Voya Yield Enchanced USD Universal Bond Fund | 4.84% | 4.95% | 4.86% | 3.99% |
Frequently Asked Questions
With a correlation of 0.92, IBTO and UNIY 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.
IBTO has higher volatility (1.27%) compared to UNIY (1.06%). In terms of maximum drawdown, IBTO dropped -8.36% vs UNIY's -6.27%.
On 1-year performance, UNIY leads with 4.90% vs 3.25% for IBTO. On fees, IBTO is cheaper at 0.07% per year. On volatility, UNIY has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, UNIY has performed better with a 4.90% return vs 3.25%. 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 0.15% for UNIY.
UNIY has the higher dividend yield at 4.84%, compared with 4.15% for IBTO.
IBTO tracks ICE 2033 Maturity US Treasury Index, while UNIY tracks Bloomberg US Universal Enhanced Yield Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.07% for IBTO and 0.15% for UNIY.
UNIY currently has the higher Sharpe Ratio (1.34 vs 0.74), 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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