IGCB vs. IBDR

Last updated Jun 4, 2026

IGCB (TCW Corporate Bond ETF) and IBDR (iShares iBonds Dec 2026 Term Corporate ETF) are both Corporate Bonds funds - IGCB tracks the Actively Managed while IBDR tracks the Barclays December 2026 Maturity Corporate Index. Both are passively managed. Over the past year, IGCB returned 5.37% vs 4.38% for IBDR. At a 0.31 correlation, their price movements are largely independent. IGCB charges 0.35%/yr vs 0.10%/yr for IBDR.

Performance

IGCB vs. IBDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Corporate Bond ETF (IGCB) and iShares iBonds Dec 2026 Term Corporate ETF (IBDR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGCB achieves a 0.08% return, which is significantly lower than IBDR's 1.44% return.

IGCB

• 1D: -0.30%
• 1M: 0.37%
• YTD: 0.08%
• 6M: -0.02%
• 1Y: 5.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBDR

• 1D: -0.04%
• 1M: 0.25%
• YTD: 1.44%
• 6M: 1.80%
• 1Y: 4.38%
• 3Y*: 5.07%
• 5Y*: 1.50%
• 10Y*: —

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

IGCB vs. IBDR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IGCB TCW Corporate Bond ETF	0.08%	8.42%	-0.39%
IBDR iShares iBonds Dec 2026 Term Corporate ETF	1.44%	4.99%	0.67%

Correlation

The correlation between IGCB and IBDR is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (All Time) Calculated using the full available price history since Nov 19, 2024	0.31

The correlation between IGCB and IBDR shifts across timeframes, from 0.12 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IGCB vs. IBDR — Risk / Return Rank

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

IGCB

IGCB Risk / Return Rank: 38
IGCB Sharpe Ratio Rank: 39
IGCB Sortino Ratio Rank: 38
IGCB Omega Ratio Rank: 38
IGCB Calmar Ratio Rank: 38
IGCB Martin Ratio Rank: 37

IBDR

IBDR Risk / Return Rank: 99
IBDR Sharpe Ratio Rank: 99
IBDR Sortino Ratio Rank: 99
IBDR Omega Ratio Rank: 99
IBDR Calmar Ratio Rank: 99
IBDR Martin Ratio Rank: 99

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.

IGCB vs. IBDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Corporate Bond ETF (IGCB) and iShares iBonds Dec 2026 Term Corporate ETF (IBDR). 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.

	IGCB	IBDR	Difference
Sharpe ratio: Return per unit of total volatility	1.38	6.93	-5.55
Sortino ratio: Return per unit of downside risk	1.96	14.59	-12.63
Omega ratio: Gain probability vs. loss probability	1.25	3.40	-2.16
Calmar ratio: Return relative to maximum drawdown	1.85	53.28	-51.43
Martin ratio: Return relative to average drawdown	5.69	185.24	-179.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGCB vs. IBDR - Sharpe Ratio Comparison

The current IGCB Sharpe Ratio is 1.38, which is lower than the IBDR Sharpe Ratio of 6.93. The chart below compares the historical Sharpe Ratios of IGCB and IBDR, 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

	IGCB	IBDR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	6.93	-5.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	0.61	+0.47

Drawdowns

IGCB vs. IBDR - Drawdown Comparison

The maximum IGCB drawdown since its inception was -4.20%, smaller than the maximum IBDR drawdown of -16.06%. Use the drawdown chart below to compare losses from any high point for IGCB and IBDR.

Drawdown Indicators

	IGCB	IBDR	Difference
Max Drawdown Largest peak-to-trough decline	-4.20%	-16.06%	+11.86%
Max Drawdown (1Y) Largest decline over 1 year	-2.91%	-0.08%	-2.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.08%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.13%	—
Current Drawdown Current decline from peak	-1.31%	-0.04%	-1.27%
Average Drawdown Average peak-to-trough decline	-0.93%	-2.84%	+1.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.02%	+0.93%

Volatility

IGCB vs. IBDR - Volatility Comparison

TCW Corporate Bond ETF (IGCB) has a higher volatility of 1.35% compared to iShares iBonds Dec 2026 Term Corporate ETF (IBDR) at 0.15%. This indicates that IGCB's price experiences larger fluctuations and is considered to be riskier than IBDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGCB	IBDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	0.15%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	2.78%	0.34%	+2.44%
Volatility (1Y) Calculated over the trailing 1-year period	3.92%	0.64%	+3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.82%	3.40%	+1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.82%	4.86%	-0.04%

IGCB vs. IBDR - Expense Ratio Comparison

IGCB has a 0.35% expense ratio, which is higher than IBDR's 0.10% expense ratio.

Dividends

IGCB vs. IBDR - Dividend Comparison

IGCB's dividend yield for the trailing twelve months is around 4.75%, more than IBDR's 4.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IBDR iShares iBonds Dec 2026 Term Corporate ETF	4.13%	4.20%	4.13%	3.41%	2.44%	2.11%	2.61%	3.25%	3.56%	3.22%	0.86%
IGCB TCW Corporate Bond ETF	4.75%	4.52%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IGCB and IBDR in my portfolio?

IGCB and IBDR have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGCB or IBDR?

IGCB has higher volatility (1.35%) compared to IBDR (0.15%). In terms of maximum drawdown, IGCB dropped -4.20% vs IBDR's -16.06%.

Which ETF is better, IGCB or IBDR?

On 1-year performance, IGCB leads with 5.37% vs 4.38% for IBDR. On fees, IBDR is cheaper at 0.10% per year. On volatility, IBDR has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGCB or IBDR?

Over the 1-year period, IGCB has performed better with a 5.37% return vs 4.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGCB or IBDR?

IBDR is cheaper with a 0.10% expense ratio, compared with 0.35% for IGCB.

Which ETF pays a higher dividend yield, IGCB or IBDR?

IGCB has the higher dividend yield at 4.75%, compared with 4.13% for IBDR.

What is the main difference between IGCB and IBDR?

IGCB tracks Actively Managed, while IBDR tracks Barclays December 2026 Maturity Corporate Index. They also come from different issuers: TCW and iShares. Their fees differ too: 0.35% for IGCB and 0.10% for IBDR.

Which has better risk-adjusted returns?

IBDR currently has the higher Sharpe Ratio (6.93 vs 1.38), 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.