IUSB vs. DBND
IUSB (iShares Core Universal USD Bond ETF) and DBND (DoubleLine Opportunistic Bond ETF) are both Intermediate Core-Plus Bond funds - IUSB tracks the Bloomberg U.S. Universal Index while DBND tracks the Bloomberg US Aggregate Bond Index. Both are passively managed. Over the past 3 years, IUSB returned 4.51%/yr vs 4.50%/yr for DBND. Their correlation of 0.92 suggests significant overlap in exposure. IUSB charges 0.06%/yr vs 0.50%/yr for DBND.
Performance
IUSB vs. DBND - Performance Comparison
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Returns By Period
In the year-to-date period, IUSB achieves a 0.43% return, which is significantly higher than DBND's -0.21% return.
IUSB
- 1D
- -0.17%
- 1M
- 0.31%
- YTD
- 0.43%
- 6M
- 0.31%
- 1Y
- 5.54%
- 3Y*
- 4.51%
- 5Y*
- 0.44%
- 10Y*
- 1.94%
DBND
- 1D
- -0.11%
- 1M
- 0.03%
- YTD
- -0.21%
- 6M
- -0.07%
- 1Y
- 4.85%
- 3Y*
- 4.50%
- 5Y*
- —
- 10Y*
- —
IUSB vs. DBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IUSB iShares Core Universal USD Bond ETF | 0.43% | 7.38% | 2.11% | 6.23% | -6.49% |
DBND DoubleLine Opportunistic Bond ETF | -0.21% | 7.41% | 3.06% | 6.33% | -5.93% |
Correlation
The correlation between IUSB and DBND is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2022 | 0.92 |
The correlation between IUSB and DBND has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
IUSB vs. DBND — Risk / Return Rank
IUSB
DBND
IUSB vs. DBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Universal USD Bond ETF (IUSB) and DoubleLine Opportunistic Bond ETF (DBND). 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.
| IUSB | DBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.27 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 1.72 | +0.48 |
| Martin ratioReturn relative to average drawdown | 6.68 | 5.10 | +1.58 |
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
| IUSB | DBND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 1.48 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.48 | -0.02 |
Drawdowns
IUSB vs. DBND - Drawdown Comparison
The maximum IUSB drawdown since its inception was -17.90%, which is greater than DBND's maximum drawdown of -9.39%. Use the drawdown chart below to compare losses from any high point for IUSB and DBND.
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Drawdown Indicators
| IUSB | DBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.90% | -9.39% | -8.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -2.83% | +0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -5.82% | -6.25% | +0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.90% | — | — |
Current DrawdownCurrent decline from peak | -1.33% | -1.80% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -3.59% | -2.27% | -1.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.95% | -0.12% |
Volatility
IUSB vs. DBND - Volatility Comparison
iShares Core Universal USD Bond ETF (IUSB) has a higher volatility of 1.24% compared to DoubleLine Opportunistic Bond ETF (DBND) at 1.07%. This indicates that IUSB's price experiences larger fluctuations and is considered to be riskier than DBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSB | DBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.07% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 2.33% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 3.30% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.79% | 5.09% | +0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 5.09% | -0.05% |
IUSB vs. DBND - Expense Ratio Comparison
IUSB has a 0.06% expense ratio, which is lower than DBND's 0.50% expense ratio.
Dividends
IUSB vs. DBND - Dividend Comparison
IUSB's dividend yield for the trailing twelve months is around 4.23%, less than DBND's 4.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBND DoubleLine Opportunistic Bond ETF | 4.79% | 4.78% | 5.19% | 4.39% | 2.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IUSB iShares Core Universal USD Bond ETF | 4.23% | 4.17% | 4.04% | 3.46% | 2.53% | 1.74% | 2.68% | 3.04% | 2.98% | 2.56% | 2.60% | 1.95% |
Frequently Asked Questions
With a correlation of 0.95, IUSB and DBND 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.
IUSB has higher volatility (1.24%) compared to DBND (1.07%). In terms of maximum drawdown, IUSB dropped -17.90% vs DBND's -9.39%.
On 3-year performance, IUSB leads with 4.51% vs 4.50% for DBND. On fees, IUSB is cheaper at 0.06% per year. On volatility, DBND has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IUSB has performed better with a 4.51% return vs 4.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IUSB is cheaper with a 0.06% expense ratio, compared with 0.50% for DBND.
DBND has the higher dividend yield at 4.79%, compared with 4.23% for IUSB.
IUSB tracks Bloomberg U.S. Universal Index, while DBND tracks Bloomberg US Aggregate Bond Index. They also come from different issuers: iShares and DoubleLine. Their fees differ too: 0.06% for IUSB and 0.50% for DBND.
IUSB currently has the higher Sharpe Ratio (1.54 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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