LIBD vs. IBGK

Last updated Jun 24, 2026

LIBD (LifeX 2065 Inflation-Protected Longevity Income ETF) and IBGK (iShares iBonds Dec 2054 Term Treasury ETF) are both exchange-traded funds - LIBD is a Inflation-Protected Bonds fund actively managed by Stone Ridge, while IBGK is a Long-Term Bond fund tracking the ICE 2054 Maturity US Treasury Index. LIBD is actively managed, while IBGK is passively managed. Over the past year, LIBD returned 2.29% vs 3.71% for IBGK. Their correlation of 0.93 suggests significant overlap in exposure. LIBD charges 0.25%/yr vs 0.07%/yr for IBGK.

Performance

LIBD vs. IBGK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LifeX 2065 Inflation-Protected Longevity Income ETF (LIBD) and iShares iBonds Dec 2054 Term Treasury ETF (IBGK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LIBD achieves a 0.44% return, which is significantly lower than IBGK's 0.68% return.

LIBD

• 1D: -0.05%
• 1M: 0.95%
• YTD: 0.44%
• 6M: 0.30%
• 1Y: 2.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBGK

• 1D: 0.11%
• 1M: 2.23%
• YTD: 0.68%
• 6M: 0.42%
• 1Y: 3.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LIBD vs. IBGK - Yearly Performance Comparison

	2026 (YTD)	2025
LIBD LifeX 2065 Inflation-Protected Longevity Income ETF	0.44%	-0.63%
IBGK iShares iBonds Dec 2054 Term Treasury ETF	0.68%	3.98%

Correlation

The correlation between LIBD and IBGK is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Jan 6, 2025	0.93

The correlation between LIBD and IBGK has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

LIBD vs. IBGK — Risk / Return Rank

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

LIBD

LIBD Risk / Return Rank: 12
LIBD Sharpe Ratio Rank: 13
LIBD Sortino Ratio Rank: 12
LIBD Omega Ratio Rank: 11
LIBD Calmar Ratio Rank: 13
LIBD Martin Ratio Rank: 12

IBGK

IBGK Risk / Return Rank: 14
IBGK Sharpe Ratio Rank: 15
IBGK Sortino Ratio Rank: 14
IBGK Omega Ratio Rank: 13
IBGK Calmar Ratio Rank: 15
IBGK Martin Ratio Rank: 15

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.

LIBD vs. IBGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LifeX 2065 Inflation-Protected Longevity Income ETF (LIBD) and iShares iBonds Dec 2054 Term Treasury ETF (IBGK). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	LIBD	IBGK	Difference
Sharpe ratio: Return per unit of total volatility	0.29	0.41	-0.12
Sortino ratio: Return per unit of downside risk	0.46	0.66	-0.19
Omega ratio: Gain probability vs. loss probability	1.05	1.07	-0.02
Calmar ratio: Return relative to maximum drawdown	0.37	0.51	-0.14
Martin ratio: Return relative to average drawdown	0.76	1.22	-0.46

LIBD vs. IBGK - Sharpe Ratio Comparison

The current LIBD Sharpe Ratio is 0.29, which is comparable to the IBGK Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of LIBD and IBGK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LIBD vs. IBGK - Drawdown Comparison

The maximum LIBD drawdown since its inception was -7.31%, smaller than the maximum IBGK drawdown of -14.62%. Use the drawdown chart below to compare losses from any high point for LIBD and IBGK.

Drawdown Indicators

	LIBD	IBGK	Difference
Max Drawdown Largest peak-to-trough decline	-7.31%	-14.62%	+7.31%
Max Drawdown (1Y) Largest decline over 1 year	-6.19%	-7.29%	+1.10%
Current Drawdown Current decline from peak	-3.73%	-8.25%	+4.52%
Average Drawdown Average peak-to-trough decline	-3.35%	-8.07%	+4.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	3.05%	-0.05%

Volatility

LIBD vs. IBGK - Volatility Comparison

LifeX 2065 Inflation-Protected Longevity Income ETF (LIBD) and iShares iBonds Dec 2054 Term Treasury ETF (IBGK) have volatilities of 2.02% and 2.08%, 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.

Volatility by Period

	LIBD	IBGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.02%	2.08%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	5.77%	6.32%	-0.55%
Volatility (1Y) Calculated over the trailing 1-year period	7.92%	9.06%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.08%	11.73%	-1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.08%	11.73%	-1.65%

LIBD vs. IBGK - Expense Ratio Comparison

LIBD has a 0.25% expense ratio, which is higher than IBGK's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LIBD vs. IBGK - Dividend Comparison

LIBD's dividend yield for the trailing twelve months is around 11.51%, more than IBGK's 4.67% yield.

Position	TTM	2025	2024
IBGK iShares iBonds Dec 2054 Term Treasury ETF	4.67%	4.59%	3.15%
LIBD LifeX 2065 Inflation-Protected Longevity Income ETF	11.51%	13.52%	0.00%

Frequently Asked Questions

Can I hold both LIBD and IBGK in my portfolio?

With a correlation of 0.94, LIBD and IBGK 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, LIBD or IBGK?

IBGK has higher volatility (2.08%) compared to LIBD (2.02%). In terms of maximum drawdown, LIBD dropped -7.31% vs IBGK's -14.62%.

Which ETF is better, LIBD or IBGK?

On 1-year performance, IBGK leads with 3.71% vs 2.29% for LIBD. On fees, IBGK is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LIBD or IBGK?

Over the 1-year period, IBGK has performed better with a 3.71% return vs 2.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LIBD or IBGK?

IBGK is cheaper with a 0.07% expense ratio, compared with 0.25% for LIBD.

Which ETF pays a higher dividend yield, LIBD or IBGK?

LIBD has the higher dividend yield at 11.51%, compared with 4.67% for IBGK.

What is the main difference between LIBD and IBGK?

LIBD is categorized as Inflation-Protected Bonds, while IBGK is Long-Term Bond. They also come from different issuers: Stone Ridge and iShares. Their fees differ too: 0.25% for LIBD and 0.07% for IBGK.

Which has better risk-adjusted returns?

IBGK currently has the higher Sharpe Ratio (0.41 vs 0.29), 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.