IBTO vs. VGVT

Last updated Apr 1, 2026

Compare and contrast key facts about iShares iBonds Dec 2033 Term Treasury ETF (IBTO) and Vanguard Government Securities Active ETF (VGVT).

IBTO and VGVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IBTO is a passively managed fund by iShares that tracks the performance of the ICE 2033 Maturity US Treasury Index. It was launched on Jun 27, 2023. VGVT is an actively managed fund by Vanguard. It was launched on Jul 7, 2025.

Performance

IBTO vs. VGVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2033 Term Treasury ETF (IBTO) and Vanguard Government Securities Active ETF (VGVT). The values are adjusted to include any dividend payments, if applicable.

IBTO vs. VGVT - Yearly Performance Comparison

	2026 (YTD)	2025
IBTO iShares iBonds Dec 2033 Term Treasury ETF	-0.02%	3.34%
VGVT Vanguard Government Securities Active ETF	0.12%	3.28%

Returns By Period

In the year-to-date period, IBTO achieves a -0.02% return, which is significantly lower than VGVT's 0.12% return.

IBTO

• 1D: 0.27%
• 1M: -2.09%
• YTD: -0.02%
• 6M: 0.95%
• 1Y: 4.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGVT

• 1D: 0.21%
• 1M: -1.74%
• YTD: 0.12%
• 6M: 1.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBTO vs. VGVT - Expense Ratio Comparison

IBTO has a 0.07% expense ratio, which is lower than VGVT's 0.10% 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%.

VGVT

Vanguard Government Securities Active ETF

IBTO

iShares iBonds Dec 2033 Term Treasury ETF

Return for Risk

IBTO vs. VGVT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBTO

IBTO Risk / Return Rank: 42
IBTO Sharpe Ratio Rank: 41
IBTO Sortino Ratio Rank: 41
IBTO Omega Ratio Rank: 33
IBTO Calmar Ratio Rank: 56
IBTO Martin Ratio Rank: 40

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBTO vs. VGVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2033 Term Treasury ETF (IBTO) and Vanguard Government Securities Active ETF (VGVT). 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.

	IBTO	VGVT	Difference
Sharpe ratio Return per unit of total volatility	0.80	—	—
Sortino ratio Return per unit of downside risk	1.19	—	—
Omega ratio Gain probability vs. loss probability	1.14	—	—
Calmar ratio Return relative to maximum drawdown	1.46	—	—
Martin ratio Return relative to average drawdown	3.82	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IBTO	VGVT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	1.45	-0.97

Correlation

The correlation between IBTO and VGVT is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

IBTO vs. VGVT - Dividend Comparison

IBTO's dividend yield for the trailing twelve months is around 4.10%, more than VGVT's 2.95% yield.

	TTM	2025	2024	2023
IBTO iShares iBonds Dec 2033 Term Treasury ETF	4.10%	4.05%	4.23%	1.66%
VGVT Vanguard Government Securities Active ETF	2.95%	2.29%	0.00%	0.00%

Drawdowns

IBTO vs. VGVT - Drawdown Comparison

The maximum IBTO drawdown since its inception was -8.36%, which is greater than VGVT's maximum drawdown of -2.42%. Use the drawdown chart below to compare losses from any high point for IBTO and VGVT.

Drawdown Indicators

	IBTO	VGVT	Difference
Max Drawdown Largest peak-to-trough decline	-8.36%	-2.42%	-5.94%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	—	—
Current Drawdown Current decline from peak	-2.09%	-1.74%	-0.35%
Average Drawdown Average peak-to-trough decline	-2.37%	-0.42%	-1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	—	—

Volatility

Volatility by Period

	IBTO	VGVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.01%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.19%	3.27%	+1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.74%	3.27%	+3.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.74%	3.27%	+3.47%