IBTQ vs. FOCPX

Last updated Jun 5, 2026

IBTQ (iShares iBonds Dec 2035 Term Treasury ETF) and FOCPX (Fidelity OTC Portfolio) are both funds - IBTQ is a Government Bonds fund tracking the ICE 2035 Maturity US Treasury Index, while FOCPX is a Large Cap Growth Equities fund actively managed by Fidelity. IBTQ is passively managed, while FOCPX is actively managed. Over the past year, IBTQ returned 3.71% vs 61.72% for FOCPX. At a 0.04 correlation, their price movements are largely independent. IBTQ charges 0.07%/yr vs 0.73%/yr for FOCPX.

Performance

IBTQ vs. FOCPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2035 Term Treasury ETF (IBTQ) and Fidelity OTC Portfolio (FOCPX). 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 FOCPX's 28.25% return.

IBTQ

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

FOCPX

• 1D: 0.52%
• 1M: 9.69%
• YTD: 28.25%
• 6M: 29.14%
• 1Y: 61.72%
• 3Y*: 35.08%
• 5Y*: 19.28%
• 10Y*: 22.70%

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

IBTQ vs. FOCPX - Yearly Performance Comparison

	2026 (YTD)	2025
IBTQ iShares iBonds Dec 2035 Term Treasury ETF	-0.52%	5.09%
FOCPX Fidelity OTC Portfolio	28.25%	33.13%

Correlation

The correlation between IBTQ and FOCPX is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.04

Return for Risk

IBTQ vs. FOCPX — 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

FOCPX

FOCPX Risk / Return Rank: 92
FOCPX Sharpe Ratio Rank: 96
FOCPX Sortino Ratio Rank: 89
FOCPX Omega Ratio Rank: 85
FOCPX Calmar Ratio Rank: 94
FOCPX Martin Ratio Rank: 96

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. FOCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2035 Term Treasury ETF (IBTQ) and Fidelity OTC Portfolio (FOCPX). 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	FOCPX	Difference
Sharpe ratio: Return per unit of total volatility	0.75	3.56	-2.81
Sortino ratio: Return per unit of downside risk	1.13	4.41	-3.28
Omega ratio: Gain probability vs. loss probability	1.13	1.59	-0.46
Calmar ratio: Return relative to maximum drawdown	0.87	5.58	-4.71
Martin ratio: Return relative to average drawdown	2.60	24.68	-22.08
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. FOCPX - Sharpe Ratio Comparison

The current IBTQ Sharpe Ratio is 0.75, which is lower than the FOCPX Sharpe Ratio of 3.56. The chart below compares the historical Sharpe Ratios of IBTQ and FOCPX, 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	FOCPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	3.56	-2.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.86	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.66	+0.02

Drawdowns

IBTQ vs. FOCPX - Drawdown Comparison

The maximum IBTQ drawdown since its inception was -4.27%, smaller than the maximum FOCPX drawdown of -70.25%. Use the drawdown chart below to compare losses from any high point for IBTQ and FOCPX.

Drawdown Indicators

	IBTQ	FOCPX	Difference
Max Drawdown Largest peak-to-trough decline	-4.27%	-70.25%	+65.98%
Max Drawdown (1Y) Largest decline over 1 year	-4.27%	-11.29%	+7.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.05%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.05%	—
Current Drawdown Current decline from peak	-2.76%	0.00%	-2.76%
Average Drawdown Average peak-to-trough decline	-1.41%	-17.01%	+15.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	2.55%	-1.11%

Volatility

IBTQ vs. FOCPX - Volatility Comparison

The current volatility for iShares iBonds Dec 2035 Term Treasury ETF (IBTQ) is 1.60%, while Fidelity OTC Portfolio (FOCPX) has a volatility of 5.40%. This indicates that IBTQ experiences smaller price fluctuations and is considered to be less risky than FOCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBTQ	FOCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.60%	5.40%	-3.80%
Volatility (6M) Calculated over the trailing 6-month period	3.47%	13.89%	-10.42%
Volatility (1Y) Calculated over the trailing 1-year period	5.02%	17.71%	-12.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.61%	22.65%	-17.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.61%	22.43%	-16.82%

IBTQ vs. FOCPX - Expense Ratio Comparison

IBTQ has a 0.07% expense ratio, which is lower than FOCPX's 0.73% expense ratio.

Dividends

IBTQ vs. FOCPX - Dividend Comparison

IBTQ's dividend yield for the trailing twelve months is around 3.72%, less than FOCPX's 6.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOCPX Fidelity OTC Portfolio	6.06%	7.78%	16.76%	0.05%	4.06%	11.53%	6.23%	7.58%	7.93%	4.86%	3.24%	5.41%
IBTQ iShares iBonds Dec 2035 Term Treasury ETF	3.72%	2.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBTQ and FOCPX in my portfolio?

IBTQ and FOCPX have a correlation of 0.08, 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 FOCPX?

FOCPX has higher volatility (5.40%) compared to IBTQ (1.60%). In terms of maximum drawdown, IBTQ dropped -4.27% vs FOCPX's -70.25%.

Which has better risk-adjusted returns?

FOCPX currently has the higher Sharpe Ratio (3.56 vs 0.75), 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.