IGEB vs. OBND
IGEB (iShares Investment Grade Bond Factor ETF) and OBND (SPDR Loomis Sayles Opportunistic Bond ETF) are both exchange-traded funds - IGEB is a Corporate Bonds fund tracking the BlackRock Investment Grade Enhanced Bond Index, while OBND is a Nontraditional Bonds fund actively managed by State Street. IGEB is passively managed, while OBND is actively managed. Over the past 3 years, IGEB returned 5.88%/yr vs 6.89%/yr for OBND. Their correlation of 0.82 suggests significant overlap in exposure. IGEB charges 0.18%/yr vs 0.55%/yr for OBND.
Performance
IGEB vs. OBND - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IGEB achieves a 0.41% return, which is significantly lower than OBND's 1.31% return.
IGEB
- 1D
- -0.22%
- 1M
- 0.57%
- YTD
- 0.41%
- 6M
- 0.32%
- 1Y
- 5.98%
- 3Y*
- 5.88%
- 5Y*
- 1.10%
- 10Y*
- —
OBND
- 1D
- -0.23%
- 1M
- 0.37%
- YTD
- 1.31%
- 6M
- 1.22%
- 1Y
- 6.61%
- 3Y*
- 6.89%
- 5Y*
- —
- 10Y*
- —
IGEB vs. OBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IGEB iShares Investment Grade Bond Factor ETF | 0.41% | 8.17% | 3.10% | 9.56% | -14.85% | -0.18% |
OBND SPDR Loomis Sayles Opportunistic Bond ETF | 1.31% | 7.85% | 4.80% | 9.47% | -11.24% | 0.02% |
Correlation
The correlation between IGEB and OBND is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021 | 0.82 |
The correlation between IGEB and OBND has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IGEB vs. OBND — Risk / Return Rank
IGEB
OBND
IGEB vs. OBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Investment Grade Bond Factor ETF (IGEB) and SPDR Loomis Sayles Opportunistic Bond ETF (OBND). 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.
| IGEB | OBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.37 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 2.30 | -0.22 |
| Martin ratioReturn relative to average drawdown | 6.81 | 10.09 | -3.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IGEB | OBND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 1.97 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.50 | -0.01 |
Drawdowns
IGEB vs. OBND - Drawdown Comparison
The maximum IGEB drawdown since its inception was -21.13%, which is greater than OBND's maximum drawdown of -15.86%. Use the drawdown chart below to compare losses from any high point for IGEB and OBND.
Loading charts...
Drawdown Indicators
| IGEB | OBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.13% | -15.86% | -5.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -2.88% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -5.97% | -3.17% | -2.80% |
Max Drawdown (5Y)Largest decline over 5 years | -21.13% | — | — |
Current DrawdownCurrent decline from peak | -1.03% | -0.29% | -0.74% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -4.41% | -0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.66% | +0.22% |
Volatility
IGEB vs. OBND - Volatility Comparison
iShares Investment Grade Bond Factor ETF (IGEB) has a higher volatility of 1.33% compared to SPDR Loomis Sayles Opportunistic Bond ETF (OBND) at 1.08%. This indicates that IGEB's price experiences larger fluctuations and is considered to be riskier than OBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IGEB | OBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.08% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 2.68% | +0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 3.38% | +0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 4.66% | +2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.52% | 4.66% | +1.86% |
IGEB vs. OBND - Expense Ratio Comparison
IGEB has a 0.18% expense ratio, which is lower than OBND's 0.55% expense ratio.
Dividends
IGEB vs. OBND - Dividend Comparison
IGEB's dividend yield for the trailing twelve months is around 5.06%, less than OBND's 6.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IGEB iShares Investment Grade Bond Factor ETF | 5.06% | 4.92% | 5.09% | 4.60% | 3.64% | 3.84% | 3.78% | 5.61% | 3.59% | 1.62% |
OBND SPDR Loomis Sayles Opportunistic Bond ETF | 6.28% | 6.26% | 6.53% | 6.01% | 4.56% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IGEB and OBND have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGEB has higher volatility (1.33%) compared to OBND (1.08%). In terms of maximum drawdown, IGEB dropped -21.13% vs OBND's -15.86%.
On 3-year performance, OBND leads with 6.89% vs 5.88% for IGEB. On fees, IGEB is cheaper at 0.18% per year. On volatility, OBND has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OBND has performed better with a 6.89% return vs 5.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGEB is cheaper with a 0.18% expense ratio, compared with 0.55% for OBND.
OBND has the higher dividend yield at 6.28%, compared with 5.06% for IGEB.
IGEB is categorized as Corporate Bonds, while OBND is Nontraditional Bonds. They also come from different issuers: iShares and State Street. Their fees differ too: 0.18% for IGEB and 0.55% for OBND.
OBND currently has the higher Sharpe Ratio (1.97 vs 1.44), 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.
Find the right allocation for IGEB and OBND
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer