IBTQ vs. BNDD

Last updated Jun 5, 2026

IBTQ (iShares iBonds Dec 2035 Term Treasury ETF) and BNDD (Quadratic Deflation ETF) are both Government Bonds funds. IBTQ is passively managed, while BNDD is actively managed. Over the past year, IBTQ returned 3.71% vs 2.37% for BNDD. At a 0.47 correlation, their price movements are largely independent. IBTQ charges 0.07%/yr vs 1.02%/yr for BNDD.

Performance

IBTQ vs. BNDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2035 Term Treasury ETF (IBTQ) and Quadratic Deflation ETF (BNDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBTQ achieves a -0.52% return, which is significantly lower than BNDD's 4.38% return.

IBTQ

• 1D: 0.16%
• 1M: -0.07%
• YTD: -0.52%
• 6M: -0.70%
• 1Y: 3.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDD

• 1D: 0.06%
• 1M: 0.95%
• YTD: 4.38%
• 6M: 2.33%
• 1Y: 2.37%
• 3Y*: -3.83%
• 5Y*: —
• 10Y*: —

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

IBTQ vs. BNDD - Yearly Performance Comparison

	2026 (YTD)	2025
IBTQ iShares iBonds Dec 2035 Term Treasury ETF	-0.52%	5.09%
BNDD Quadratic Deflation ETF	4.38%	-6.90%

Correlation

The correlation between IBTQ and BNDD is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.47

Return for Risk

IBTQ vs. BNDD — Risk / Return Rank

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

IBTQ

IBTQ Risk / Return Rank: 21
IBTQ Sharpe Ratio Rank: 22
IBTQ Sortino Ratio Rank: 22
IBTQ Omega Ratio Rank: 20
IBTQ Calmar Ratio Rank: 21
IBTQ Martin Ratio Rank: 22

BNDD

BNDD Risk / Return Rank: 13
BNDD Sharpe Ratio Rank: 12
BNDD Sortino Ratio Rank: 12
BNDD Omega Ratio Rank: 12
BNDD Calmar Ratio Rank: 14
BNDD Martin Ratio Rank: 13

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.

IBTQ vs. BNDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2035 Term Treasury ETF (IBTQ) 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.

	IBTQ	BNDD	Difference
Sharpe ratio: Return per unit of total volatility	0.75	0.23	+0.53
Sortino ratio: Return per unit of downside risk	1.13	0.39	+0.74
Omega ratio: Gain probability vs. loss probability	1.13	1.05	+0.08
Calmar ratio: Return relative to maximum drawdown	0.87	0.39	+0.48
Martin ratio: Return relative to average drawdown	2.60	0.84	+1.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBTQ vs. BNDD - Sharpe Ratio Comparison

The current IBTQ Sharpe Ratio is 0.75, which is higher than the BNDD Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of IBTQ and BNDD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBTQ	BNDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	0.23	+0.53
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	-0.33	+1.01

Drawdowns

IBTQ vs. BNDD - Drawdown Comparison

The maximum IBTQ drawdown since its inception was -4.27%, smaller than the maximum BNDD drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for IBTQ and BNDD.

Drawdown Indicators

	IBTQ	BNDD	Difference
Max Drawdown Largest peak-to-trough decline	-4.27%	-30.87%	+26.60%
Max Drawdown (1Y) Largest decline over 1 year	-4.27%	-6.09%	+1.82%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.75%	—
Current Drawdown Current decline from peak	-2.76%	-26.46%	+23.70%
Average Drawdown Average peak-to-trough decline	-1.41%	-19.34%	+17.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	2.83%	-1.39%

Volatility

IBTQ vs. BNDD - Volatility Comparison

The current volatility for iShares iBonds Dec 2035 Term Treasury ETF (IBTQ) is 1.60%, while Quadratic Deflation ETF (BNDD) has a volatility of 2.17%. This indicates that IBTQ 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.

Volatility by Period

	IBTQ	BNDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.60%	2.17%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	3.47%	8.07%	-4.60%
Volatility (1Y) Calculated over the trailing 1-year period	5.02%	10.59%	-5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.61%	13.37%	-7.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.61%	13.37%	-7.76%

IBTQ vs. BNDD - Expense Ratio Comparison

IBTQ has a 0.07% expense ratio, which is lower than BNDD's 1.02% expense ratio.

Dividends

IBTQ vs. BNDD - Dividend Comparison

IBTQ's dividend yield for the trailing twelve months is around 3.72%, more than BNDD's 3.60% yield.

Position	TTM	2025	2024	2023	2022	2021
BNDD Quadratic Deflation ETF	3.60%	3.82%	3.85%	4.30%	43.17%	1.04%
IBTQ iShares iBonds Dec 2035 Term Treasury ETF	3.72%	2.80%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBTQ and BNDD in my portfolio?

IBTQ and BNDD have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBTQ or BNDD?

BNDD has higher volatility (2.17%) compared to IBTQ (1.60%). In terms of maximum drawdown, IBTQ dropped -4.27% vs BNDD's -30.87%.

Which ETF is better, IBTQ or BNDD?

On 1-year performance, IBTQ leads with 3.71% vs 2.37% for BNDD. On fees, IBTQ is cheaper at 0.07% per year. On volatility, IBTQ has been the lower-risk option at 1.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBTQ or BNDD?

Over the 1-year period, IBTQ has performed better with a 3.71% return vs 2.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBTQ or BNDD?

IBTQ is cheaper with a 0.07% expense ratio, compared with 1.02% for BNDD.

Which ETF pays a higher dividend yield, IBTQ or BNDD?

IBTQ has the higher dividend yield at 3.72%, compared with 3.60% for BNDD.

What is the main difference between IBTQ and BNDD?

They also come from different issuers: iShares and KraneShares. Their fees differ too: 0.07% for IBTQ and 1.02% for BNDD.

Which has better risk-adjusted returns?

IBTQ currently has the higher Sharpe Ratio (0.75 vs 0.23), 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.