IBTP vs. BNDD
IBTP (iShares iBonds Dec 2034 Term Treasury ETF) and BNDD (Quadratic Deflation ETF) are both Government Bonds funds. IBTP is passively managed, while BNDD is actively managed. Over the past year, IBTP returned 4.34% vs 3.39% for BNDD. A 0.55 correlation means they provide meaningful diversification when combined. IBTP charges 0.07%/yr vs 1.02%/yr for BNDD.
Performance
IBTP vs. BNDD - Performance Comparison
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Returns By Period
In the year-to-date period, IBTP achieves a -0.59% return, which is significantly lower than BNDD's 4.32% return.
IBTP
- 1D
- -0.24%
- 1M
- -0.12%
- YTD
- -0.59%
- 6M
- -1.11%
- 1Y
- 4.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BNDD
- 1D
- -0.08%
- 1M
- 1.37%
- YTD
- 4.32%
- 6M
- 2.24%
- 1Y
- 3.39%
- 3Y*
- -3.91%
- 5Y*
- —
- 10Y*
- —
IBTP vs. BNDD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBTP iShares iBonds Dec 2034 Term Treasury ETF | -0.59% | 8.16% | 0.42% |
BNDD Quadratic Deflation ETF | 4.32% | -8.17% | -6.66% |
Correlation
The correlation between IBTP and BNDD is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2024 | 0.55 |
The correlation between IBTP and BNDD shifts across timeframes, from 0.42 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBTP vs. BNDD — Risk / Return Rank
IBTP
BNDD
IBTP vs. BNDD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2034 Term Treasury ETF (IBTP) and Quadratic Deflation ETF (BNDD). 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.
| IBTP | BNDD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.06 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.56 | +0.53 |
| Martin ratioReturn relative to average drawdown | 3.25 | 1.20 | +2.05 |
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
| IBTP | BNDD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.32 | +0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | -0.33 | +1.00 |
Drawdowns
IBTP vs. BNDD - Drawdown Comparison
The maximum IBTP drawdown since its inception was -7.40%, smaller than the maximum BNDD drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for IBTP and BNDD.
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Drawdown Indicators
| IBTP | BNDD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.40% | -30.87% | +23.47% |
Max Drawdown (1Y)Largest decline over 1 year | -3.99% | -6.09% | +2.10% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.75% | — |
Current DrawdownCurrent decline from peak | -2.77% | -26.51% | +23.74% |
Average DrawdownAverage peak-to-trough decline | -2.11% | -19.34% | +17.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 2.83% | -1.49% |
Volatility
IBTP vs. BNDD - Volatility Comparison
The current volatility for iShares iBonds Dec 2034 Term Treasury ETF (IBTP) is 1.49%, while Quadratic Deflation ETF (BNDD) has a volatility of 2.21%. This indicates that IBTP experiences smaller price fluctuations and is considered to be less risky than BNDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTP | BNDD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 2.21% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 3.27% | 8.11% | -4.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.77% | 10.59% | -5.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.96% | 13.38% | -7.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.96% | 13.38% | -7.42% |
IBTP vs. BNDD - Expense Ratio Comparison
IBTP has a 0.07% expense ratio, which is lower than BNDD's 1.02% expense ratio.
Dividends
IBTP vs. BNDD - Dividend Comparison
IBTP's dividend yield for the trailing twelve months is around 4.05%, more than BNDD's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BNDD Quadratic Deflation ETF | 3.61% | 3.82% | 3.85% | 4.30% | 43.17% | 1.04% |
IBTP iShares iBonds Dec 2034 Term Treasury ETF | 4.05% | 3.92% | 1.78% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBTP and BNDD have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNDD has higher volatility (2.21%) compared to IBTP (1.49%). In terms of maximum drawdown, IBTP dropped -7.40% vs BNDD's -30.87%.
On 1-year performance, IBTP leads with 4.34% vs 3.39% for BNDD. On fees, IBTP is cheaper at 0.07% per year. On volatility, IBTP has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBTP has performed better with a 4.34% return vs 3.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTP is cheaper with a 0.07% expense ratio, compared with 1.02% for BNDD.
IBTP has the higher dividend yield at 4.05%, compared with 3.61% for BNDD.
They also come from different issuers: iShares and KraneShares. Their fees differ too: 0.07% for IBTP and 1.02% for BNDD.
IBTP currently has the higher Sharpe Ratio (0.91 vs 0.32), 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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