IMTB vs. IEF

Last updated Jun 3, 2026

IMTB (iShares Core 5-10 Year USD Bond ETF) and IEF (iShares 7-10 Year Treasury Bond ETF) are both exchange-traded funds - IMTB is a Intermediate Core-Plus Bond fund tracking the Bloomberg U.S. Universal 5-10 Years Index, while IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past 5 years, IMTB returned 0.61%/yr vs -0.98%/yr for IEF. A 0.80 correlation means they provide meaningful diversification when combined. IMTB charges 0.06%/yr vs 0.15%/yr for IEF.

Performance

IMTB vs. IEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core 5-10 Year USD Bond ETF (IMTB) and iShares 7-10 Year Treasury Bond ETF (IEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMTB achieves a 0.28% return, which is significantly higher than IEF's -0.40% return.

IMTB

• 1D: 0.08%
• 1M: 0.01%
• YTD: 0.28%
• 6M: 0.54%
• 1Y: 6.33%
• 3Y*: 4.86%
• 5Y*: 0.61%
• 10Y*: —

IEF

• 1D: 0.07%
• 1M: -0.19%
• YTD: -0.40%
• 6M: -0.71%
• 1Y: 4.23%
• 3Y*: 2.56%
• 5Y*: -0.98%
• 10Y*: 0.66%

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

IMTB vs. IEF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMTB iShares Core 5-10 Year USD Bond ETF	0.28%	8.88%	1.94%	6.10%	-12.75%	-1.41%	6.25%	8.62%	-0.45%	4.88%
IEF iShares 7-10 Year Treasury Bond ETF	-0.40%	8.03%	-0.63%	3.64%	-15.15%	-3.33%	10.01%	8.03%	0.99%	2.55%

Correlation

The correlation between IMTB and IEF is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Nov 8, 2016	0.80

The correlation between IMTB and IEF shifts across timeframes, from 0.80 (all time) to 0.94 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

IMTB vs. IEF — Risk / Return Rank

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

IMTB

IMTB Risk / Return Rank: 44
IMTB Sharpe Ratio Rank: 45
IMTB Sortino Ratio Rank: 48
IMTB Omega Ratio Rank: 44
IMTB Calmar Ratio Rank: 43
IMTB Martin Ratio Rank: 41

IEF

IEF Risk / Return Rank: 23
IEF Sharpe Ratio Rank: 25
IEF Sortino Ratio Rank: 25
IEF Omega Ratio Rank: 23
IEF Calmar Ratio Rank: 21
IEF Martin Ratio Rank: 22

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.

IMTB vs. IEF - 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 7-10 Year Treasury Bond ETF (IEF). 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	IEF	Difference
Sharpe ratio Return per unit of total volatility	1.58	0.89	+0.69
Sortino ratio Return per unit of downside risk	2.40	1.34	+1.06
Omega ratio Gain probability vs. loss probability	1.28	1.15	+0.13
Calmar ratio Return relative to maximum drawdown	2.14	0.95	+1.19
Martin ratio Return relative to average drawdown	6.69	2.86	+3.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMTB vs. IEF - Sharpe Ratio Comparison

The current IMTB Sharpe Ratio is 1.58, which is higher than the IEF Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of IMTB and IEF, 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

	IMTB	IEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	0.89	+0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	-0.13	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.50	-0.13

Drawdowns

IMTB vs. IEF - Drawdown Comparison

The maximum IMTB drawdown since its inception was -18.15%, smaller than the maximum IEF drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for IMTB and IEF.

Drawdown Indicators

	IMTB	IEF	Difference
Max Drawdown Largest peak-to-trough decline	-18.15%	-23.93%	+5.78%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	-4.07%	+1.21%
Max Drawdown (3Y) Largest decline over 3 years	-6.80%	-7.74%	+0.94%
Max Drawdown (5Y) Largest decline over 5 years	-18.11%	-21.40%	+3.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.93%	—
Current Drawdown Current decline from peak	-1.44%	-11.12%	+9.68%
Average Drawdown Average peak-to-trough decline	-4.13%	-5.34%	+1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	1.36%	-0.45%

Volatility

IMTB vs. IEF - Volatility Comparison

The current volatility for iShares Core 5-10 Year USD Bond ETF (IMTB) is 1.43%, while iShares 7-10 Year Treasury Bond ETF (IEF) has a volatility of 1.57%. This indicates that IMTB experiences smaller price fluctuations and is considered to be less risky than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMTB	IEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	1.57%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	3.02%	3.37%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	4.04%	4.79%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.28%	7.71%	-1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.18%	6.62%	-1.44%

IMTB vs. IEF - Expense Ratio Comparison

IMTB has a 0.06% expense ratio, which is lower than IEF'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

IMTB vs. IEF - Dividend Comparison

IMTB's dividend yield for the trailing twelve months is around 4.51%, more than IEF's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEF iShares 7-10 Year Treasury Bond ETF	3.89%	3.77%	3.62%	2.91%	1.96%	0.83%	1.08%	2.08%	2.24%	1.82%	1.81%	1.90%
IMTB iShares Core 5-10 Year USD Bond ETF	4.51%	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

Can I hold both IMTB and IEF in my portfolio?

With a correlation of 0.92, IMTB and IEF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IMTB or IEF?

IEF has higher volatility (1.57%) compared to IMTB (1.43%). In terms of maximum drawdown, IMTB dropped -18.15% vs IEF's -23.93%.

Which ETF is better, IMTB or IEF?

On 5-year performance, IMTB leads with 0.61% vs -0.98% for IEF. On fees, IMTB is cheaper at 0.06% per year. On volatility, IMTB has been the lower-risk option at 1.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMTB or IEF?

Over the 5-year period, IMTB has performed better with a 0.61% return vs -0.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMTB or IEF?

IMTB is cheaper with a 0.06% expense ratio, compared with 0.15% for IEF.

Which ETF pays a higher dividend yield, IMTB or IEF?

IMTB has the higher dividend yield at 4.51%, compared with 3.89% for IEF.

What is the main difference between IMTB and IEF?

IMTB is categorized as Intermediate Core-Plus Bond, while IEF is Government Bonds. IMTB tracks Bloomberg U.S. Universal 5-10 Years Index, while IEF tracks ICE U.S. Treasury 7-10 Year Bond Index. Their fees differ too: 0.06% for IMTB and 0.15% for IEF.

Which has better risk-adjusted returns?

IMTB currently has the higher Sharpe Ratio (1.58 vs 0.89), 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.