IMTB vs. BYLD
IMTB (iShares Core 5-10 Year USD Bond ETF) and BYLD (iShares Yield Optimized Bond ETF) are both Intermediate Core-Plus Bond funds from iShares - IMTB tracks the Bloomberg U.S. Universal 5-10 Years Index while BYLD tracks the Morningstar U.S. Bond Market Yield-Optimized Index. Both are passively managed. Over the past 5 years, IMTB returned 0.55%/yr vs 2.21%/yr for BYLD. A 0.70 correlation means they provide meaningful diversification when combined. IMTB charges 0.06%/yr vs 0.17%/yr for BYLD.
Performance
IMTB vs. BYLD - Performance Comparison
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Returns By Period
In the year-to-date period, IMTB achieves a -0.02% return, which is significantly lower than BYLD's 1.23% return.
IMTB
- 1D
- -0.31%
- 1M
- -0.07%
- YTD
- -0.02%
- 6M
- 0.07%
- 1Y
- 5.97%
- 3Y*
- 4.75%
- 5Y*
- 0.55%
- 10Y*
- —
BYLD
- 1D
- -0.18%
- 1M
- 0.61%
- YTD
- 1.23%
- 6M
- 1.35%
- 1Y
- 7.01%
- 3Y*
- 6.49%
- 5Y*
- 2.21%
- 10Y*
- 3.01%
IMTB vs. BYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMTB iShares Core 5-10 Year USD Bond ETF | -0.02% | 8.88% | 1.94% | 6.10% | -12.75% | -1.41% | 6.25% | 8.62% | -0.45% | 4.88% |
BYLD iShares Yield Optimized Bond ETF | 1.23% | 8.41% | 4.17% | 8.30% | -10.33% | -1.25% | 4.25% | 12.79% | -1.50% | 4.75% |
Correlation
The correlation between IMTB and BYLD is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2016 | 0.70 |
The correlation between IMTB and BYLD shifts across timeframes, from 0.70 (all time) to 0.83 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IMTB vs. BYLD — Risk / Return Rank
IMTB
BYLD
IMTB vs. BYLD - 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 iShares Yield Optimized Bond ETF (BYLD). 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 | BYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.35 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 2.60 | -0.50 |
| Martin ratioReturn relative to average drawdown | 6.51 | 10.54 | -4.03 |
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 | BYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 1.85 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.43 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.57 | -0.21 |
Drawdowns
IMTB vs. BYLD - Drawdown Comparison
The maximum IMTB drawdown since its inception was -18.15%, which is greater than BYLD's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for IMTB and BYLD.
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Drawdown Indicators
| IMTB | BYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.15% | -14.75% | -3.40% |
Max Drawdown (1Y)Largest decline over 1 year | -2.86% | -2.71% | -0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -6.80% | -3.94% | -2.86% |
Max Drawdown (5Y)Largest decline over 5 years | -18.11% | -14.65% | -3.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.75% | — |
Current DrawdownCurrent decline from peak | -1.74% | -0.34% | -1.40% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -2.51% | -1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.67% | +0.25% |
Volatility
IMTB vs. BYLD - Volatility Comparison
iShares Core 5-10 Year USD Bond ETF (IMTB) and iShares Yield Optimized Bond ETF (BYLD) have volatilities of 1.45% and 1.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMTB | BYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 1.42% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 2.94% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 3.82% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.28% | 5.20% | +1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.18% | 5.43% | -0.25% |
IMTB vs. BYLD - Expense Ratio Comparison
IMTB has a 0.06% expense ratio, which is lower than BYLD's 0.17% 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
IMTB vs. BYLD - Dividend Comparison
IMTB's dividend yield for the trailing twelve months is around 4.52%, less than BYLD's 5.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BYLD iShares Yield Optimized Bond ETF | 5.36% | 5.32% | 5.31% | 4.45% | 3.39% | 2.18% | 3.41% | 3.67% | 4.22% | 3.22% | 3.14% | 3.37% |
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% | 0.00% |
Frequently Asked Questions
IMTB and BYLD have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMTB has higher volatility (1.45%) compared to BYLD (1.42%). In terms of maximum drawdown, IMTB dropped -18.15% vs BYLD's -14.75%.
On 5-year performance, BYLD leads with 2.21% vs 0.55% for IMTB. On fees, IMTB is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BYLD has performed better with a 2.21% return vs 0.55%. 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 0.17% for BYLD.
BYLD has the higher dividend yield at 5.36%, compared with 4.52% for IMTB.
IMTB tracks Bloomberg U.S. Universal 5-10 Years Index, while BYLD tracks Morningstar U.S. Bond Market Yield-Optimized Index. Their fees differ too: 0.06% for IMTB and 0.17% for BYLD.
BYLD currently has the higher Sharpe Ratio (1.85 vs 1.48), 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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