IBTR vs. BNDD

Last updated Jun 6, 2026

IBTR (iShares iBonds Dec 2036 Term Treasury ETF) and BNDD (Quadratic Deflation ETF) are both Government Bonds funds. IBTR is passively managed, while BNDD is actively managed. At a 0.41 correlation, their price movements are largely independent. IBTR charges 0.07%/yr vs 1.02%/yr for BNDD.

Performance

IBTR vs. BNDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2036 Term Treasury ETF (IBTR) and Quadratic Deflation ETF (BNDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBTR

• 1D: -0.48%
• 1M: -1.04%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDD

• 1D: 0.47%
• 1M: 0.96%
• YTD: 4.87%
• 6M: 3.12%
• 1Y: 2.19%
• 3Y*: -3.93%
• 5Y*: —
• 10Y*: —

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

IBTR vs. BNDD - Yearly Performance Comparison

	2026 (YTD)
IBTR iShares iBonds Dec 2036 Term Treasury ETF	-0.01%
BNDD Quadratic Deflation ETF	0.70%

Correlation

The correlation between IBTR and BNDD is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 27, 2026	0.41

Return for Risk

IBTR vs. BNDD — Risk / Return Rank

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

BNDD

BNDD Risk / Return Rank: 12
BNDD Sharpe Ratio Rank: 12
BNDD Sortino Ratio Rank: 12
BNDD Omega Ratio Rank: 11
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.

IBTR vs. BNDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2036 Term Treasury ETF (IBTR) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IBTR	BNDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.21	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	-0.32	+0.31

Drawdowns

IBTR vs. BNDD - Drawdown Comparison

The maximum IBTR drawdown since its inception was -2.88%, smaller than the maximum BNDD drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for IBTR and BNDD.

Drawdown Indicators

	IBTR	BNDD	Difference
Max Drawdown Largest peak-to-trough decline	-2.88%	-30.87%	+27.99%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.75%	—
Current Drawdown Current decline from peak	-1.69%	-26.12%	+24.43%
Average Drawdown Average peak-to-trough decline	-0.89%	-19.35%	+18.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.83%	—

Volatility

Volatility by Period

	IBTR	BNDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.39%	10.55%	-5.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.39%	13.37%	-7.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.39%	13.37%	-7.98%

IBTR vs. BNDD - Expense Ratio Comparison

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

Dividends

IBTR vs. BNDD - Dividend Comparison

IBTR's dividend yield for the trailing twelve months is around 0.67%, less than BNDD's 3.59% yield.

Position	TTM	2025	2024	2023	2022	2021
BNDD Quadratic Deflation ETF	3.59%	3.82%	3.85%	4.30%	43.17%	1.04%
IBTR iShares iBonds Dec 2036 Term Treasury ETF	0.67%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBTR and BNDD in my portfolio?

IBTR and BNDD have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBTR or BNDD?

On fees, IBTR is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBTR or BNDD?

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

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

BNDD has the higher dividend yield at 3.59%, compared with 0.67% for IBTR.

What is the main difference between IBTR and BNDD?

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