IBTR vs. GOVZ

Last updated Jul 12, 2026

IBTR (iShares iBonds Dec 2036 Term Treasury ETF) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both Government Bonds funds from iShares - IBTR tracks the ICE 2036 Maturity US Treasury Index while GOVZ tracks the ICE BofA Long US Treasury Principal STRIPS Index. Both are passively managed. A 0.79 correlation means they provide meaningful diversification when combined. IBTR charges 0.07%/yr vs 0.15%/yr for GOVZ.

Performance

IBTR vs. GOVZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2036 Term Treasury ETF (IBTR) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBTR

• 1D: -0.12%
• 1M: -0.45%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GOVZ

• 1D: 0.09%
• 1M: -2.55%
• 6M: -3.44%
• YTD: -2.09%
• 1Y: 1.40%
• 3Y*: -7.15%
• 5Y*: -12.99%
• 10Y*: —

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

IBTR vs. GOVZ - Yearly Performance Comparison

	2026 (YTD)
IBTR iShares iBonds Dec 2036 Term Treasury ETF	-0.16%
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF	-2.66%

Correlation

The correlation between IBTR and GOVZ is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 26, 2026	0.79

Return for Risk

IBTR vs. GOVZ — Risk / Return Rank

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

IBTR

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

GOVZ

GOVZ Risk / Return Rank: 8
GOVZ Sharpe Ratio Rank: 9
GOVZ Sortino Ratio Rank: 8
GOVZ Omega Ratio Rank: 8
GOVZ Calmar Ratio Rank: 9
GOVZ Martin Ratio Rank: 9

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. GOVZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2036 Term Treasury ETF (IBTR) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IBTR	GOVZ	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.07	—
Sortino ratio: Return per unit of downside risk	—	0.01	—
Omega ratio: Gain probability vs. loss probability	—	1.00	—
Calmar ratio: Return relative to maximum drawdown	—	-0.08	—
Martin ratio: Return relative to average drawdown	—	-0.16	—

Drawdowns

IBTR vs. GOVZ - Drawdown Comparison

The maximum IBTR drawdown since its inception was -2.88%, smaller than the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for IBTR and GOVZ.

Drawdown Indicators

	IBTR	GOVZ	Difference
Max Drawdown Largest peak-to-trough decline	-2.88%	-59.65%	+56.77%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.16%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-28.23%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-57.63%	—
Current Drawdown Current decline from peak	-1.41%	-56.98%	+55.57%
Average Drawdown Average peak-to-trough decline	-0.92%	-40.16%	+39.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.66%	—

Volatility

Volatility by Period

	IBTR	GOVZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.84%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.42%	15.72%	-10.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.42%	23.84%	-18.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.42%	23.23%	-17.81%

IBTR vs. GOVZ - Expense Ratio Comparison

IBTR has a 0.07% expense ratio, which is lower than GOVZ's 0.15% 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%.

Dividends

IBTR vs. GOVZ - Dividend Comparison

IBTR's dividend yield for the trailing twelve months is around 1.00%, less than GOVZ's 5.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF	5.25%	5.00%	4.68%	3.84%	3.69%	1.76%	0.39%
IBTR iShares iBonds Dec 2036 Term Treasury ETF	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBTR and GOVZ in my portfolio?

IBTR and GOVZ have a correlation of 0.79, 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 GOVZ?

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 GOVZ?

IBTR is cheaper with a 0.07% expense ratio, compared with 0.15% for GOVZ.

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

GOVZ has the higher dividend yield at 5.25%, compared with 1.00% for IBTR.

What is the main difference between IBTR and GOVZ?

IBTR tracks ICE 2036 Maturity US Treasury Index, while GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index. Their fees differ too: 0.07% for IBTR and 0.15% for GOVZ.