MAGG vs. IBTM
MAGG (Madison Aggregate Bond ETF) and IBTM (iShares iBonds Dec 2032 Term Treasury ETF) are both Intermediate Core Bond funds. MAGG is actively managed, while IBTM is passively managed. Over the past year, MAGG returned 4.71% vs 3.09% for IBTM. Their correlation of 0.88 suggests significant overlap in exposure. MAGG charges 0.40%/yr vs 0.07%/yr for IBTM.
Performance
MAGG vs. IBTM - Performance Comparison
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Returns By Period
In the year-to-date period, MAGG achieves a 0.25% return, which is significantly higher than IBTM's -0.61% return.
MAGG
- 1D
- -0.39%
- 1M
- 0.71%
- YTD
- 0.25%
- 6M
- 0.51%
- 1Y
- 4.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBTM
- 1D
- -0.31%
- 1M
- 0.33%
- YTD
- -0.61%
- 6M
- -0.56%
- 1Y
- 3.09%
- 3Y*
- 2.71%
- 5Y*
- —
- 10Y*
- —
MAGG vs. IBTM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MAGG Madison Aggregate Bond ETF | 0.25% | 7.28% | 1.81% | 4.39% |
IBTM iShares iBonds Dec 2032 Term Treasury ETF | -0.61% | 8.06% | -0.14% | 4.01% |
Correlation
The correlation between MAGG and IBTM is 0.73, 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 | 0.73 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2023 | 0.88 |
The correlation between MAGG and IBTM shifts across timeframes, from 0.73 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MAGG vs. IBTM — Risk / Return Rank
MAGG
IBTM
MAGG vs. IBTM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Madison Aggregate Bond ETF (MAGG) and iShares iBonds Dec 2032 Term Treasury ETF (IBTM). 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.
| MAGG | IBTM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.13 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 0.95 | +0.70 |
| Martin ratioReturn relative to average drawdown | 4.83 | 2.51 | +2.32 |
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Drawdowns
MAGG vs. IBTM - Drawdown Comparison
The maximum MAGG drawdown since its inception was -4.56%, smaller than the maximum IBTM drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for MAGG and IBTM.
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Drawdown Indicators
| MAGG | IBTM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.56% | -13.60% | +9.04% |
Max Drawdown (1Y)Largest decline over 1 year | -2.86% | -3.26% | +0.40% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.86% | — |
Current DrawdownCurrent decline from peak | -1.43% | -2.49% | +1.06% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -4.78% | +3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 1.23% | -0.25% |
Volatility
MAGG vs. IBTM - Volatility Comparison
The current volatility for Madison Aggregate Bond ETF (MAGG) is 0.87%, while iShares iBonds Dec 2032 Term Treasury ETF (IBTM) has a volatility of 1.23%. This indicates that MAGG experiences smaller price fluctuations and is considered to be less risky than IBTM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAGG | IBTM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 1.23% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 2.89% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.95% | 4.05% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.73% | 7.53% | -2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 7.53% | -2.80% |
MAGG vs. IBTM - Expense Ratio Comparison
MAGG has a 0.40% expense ratio, which is higher than IBTM's 0.07% expense ratio.
Dividends
MAGG vs. IBTM - Dividend Comparison
MAGG's dividend yield for the trailing twelve months is around 4.73%, more than IBTM's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBTM iShares iBonds Dec 2032 Term Treasury ETF | 3.96% | 3.87% | 3.96% | 3.39% | 1.38% |
MAGG Madison Aggregate Bond ETF | 4.73% | 4.80% | 5.13% | 1.49% | 0.00% |
Frequently Asked Questions
MAGG and IBTM have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBTM has higher volatility (1.23%) compared to MAGG (0.87%). In terms of maximum drawdown, MAGG dropped -4.56% vs IBTM's -13.60%.
On 1-year performance, MAGG leads with 4.71% vs 3.09% for IBTM. On fees, IBTM is cheaper at 0.07% per year. On volatility, MAGG has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MAGG has performed better with a 4.71% return vs 3.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTM is cheaper with a 0.07% expense ratio, compared with 0.40% for MAGG.
MAGG has the higher dividend yield at 4.73%, compared with 3.96% for IBTM.
They also come from different issuers: Madison and iShares. Their fees differ too: 0.40% for MAGG and 0.07% for IBTM.
MAGG currently has the higher Sharpe Ratio (1.20 vs 0.77), 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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