IMTB vs. ADFI
IMTB (iShares Core 5-10 Year USD Bond ETF) and ADFI (Anfield Dynamic Fixed Income ETF) are both Intermediate Core-Plus Bond funds. IMTB is passively managed, while ADFI is actively managed. Over the past 5 years, IMTB returned 0.58%/yr vs -0.12%/yr for ADFI. A 0.71 correlation means they provide meaningful diversification when combined. IMTB charges 0.06%/yr vs 1.75%/yr for ADFI.
Performance
IMTB vs. ADFI - Performance Comparison
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Returns By Period
In the year-to-date period, IMTB achieves a 0.14% return, which is significantly lower than ADFI's 0.16% return.
IMTB
- 1D
- 0.16%
- 1M
- 0.13%
- YTD
- 0.14%
- 6M
- 0.49%
- 1Y
- 5.66%
- 3Y*
- 4.82%
- 5Y*
- 0.58%
- 10Y*
- —
ADFI
- 1D
- 0.18%
- 1M
- 0.49%
- YTD
- 0.16%
- 6M
- 0.36%
- 1Y
- 3.58%
- 3Y*
- 3.42%
- 5Y*
- -0.12%
- 10Y*
- —
IMTB vs. ADFI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IMTB iShares Core 5-10 Year USD Bond ETF | 0.14% | 8.88% | 1.94% | 6.10% | -12.75% | -1.41% | 0.93% |
ADFI Anfield Dynamic Fixed Income ETF | 0.16% | 5.61% | 0.51% | 6.70% | -11.66% | -3.38% | 0.04% |
Correlation
The correlation between IMTB and ADFI is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2020 | 0.71 |
The correlation between IMTB and ADFI has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.
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Return for Risk
IMTB vs. ADFI — Risk / Return Rank
IMTB
ADFI
IMTB vs. ADFI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core 5-10 Year USD Bond ETF (IMTB) and Anfield Dynamic Fixed Income ETF (ADFI). 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.
| IMTB | ADFI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.13 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 1.45 | +0.54 |
| Martin ratioReturn relative to average drawdown | 6.13 | 4.19 | +1.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IMTB | ADFI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.41 | 0.76 | +0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | -0.02 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | -0.09 | +0.46 |
Drawdowns
IMTB vs. ADFI - Drawdown Comparison
The maximum IMTB drawdown since its inception was -18.15%, roughly equal to the maximum ADFI drawdown of -17.62%. Use the drawdown chart below to compare losses from any high point for IMTB and ADFI.
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Drawdown Indicators
| IMTB | ADFI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.15% | -17.62% | -0.53% |
Max Drawdown (1Y)Largest decline over 1 year | -2.86% | -2.48% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -6.80% | -5.60% | -1.20% |
Max Drawdown (5Y)Largest decline over 5 years | -18.11% | -16.11% | -2.00% |
Current DrawdownCurrent decline from peak | -1.58% | -3.47% | +1.89% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -7.60% | +3.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.86% | +0.06% |
Volatility
IMTB vs. ADFI - Volatility Comparison
iShares Core 5-10 Year USD Bond ETF (IMTB) has a higher volatility of 1.46% compared to Anfield Dynamic Fixed Income ETF (ADFI) at 1.11%. This indicates that IMTB's price experiences larger fluctuations and is considered to be riskier than ADFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMTB | ADFI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 1.11% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 2.84% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 4.76% | -0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.28% | 6.19% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.18% | 5.88% | -0.70% |
IMTB vs. ADFI - Expense Ratio Comparison
IMTB has a 0.06% expense ratio, which is lower than ADFI's 1.75% expense ratio.
Dividends
IMTB vs. ADFI - Dividend Comparison
IMTB's dividend yield for the trailing twelve months is around 4.52%, more than ADFI's 3.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ADFI Anfield Dynamic Fixed Income ETF | 3.24% | 3.30% | 3.17% | 2.90% | 1.60% | 0.80% | 0.50% | 0.00% | 0.00% | 0.00% | 0.00% |
IMTB iShares Core 5-10 Year USD Bond ETF | 4.52% | 4.40% | 4.42% | 4.13% | 2.90% | 2.49% | 2.63% | 2.91% | 3.04% | 2.75% | 0.40% |
Frequently Asked Questions
IMTB and ADFI have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMTB has higher volatility (1.46%) compared to ADFI (1.11%). In terms of maximum drawdown, IMTB dropped -18.15% vs ADFI's -17.62%.
On 5-year performance, IMTB leads with 0.58% vs -0.12% for ADFI. On fees, IMTB is cheaper at 0.06% per year. On volatility, ADFI has been the lower-risk option at 1.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IMTB has performed better with a 0.58% return vs -0.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMTB is cheaper with a 0.06% expense ratio, compared with 1.75% for ADFI.
IMTB has the higher dividend yield at 4.52%, compared with 3.24% for ADFI.
They also come from different issuers: iShares and Anfield. Their fees differ too: 0.06% for IMTB and 1.75% for ADFI.
IMTB currently has the higher Sharpe Ratio (1.41 vs 0.76), 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.
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