MBB vs. IBTF
MBB (iShares MBS Bond ETF) and IBTF (iShares iBonds Dec 2025 Term Treasury ETF) are both exchange-traded funds - MBB is a Mortgage Backed Securities fund tracking the Barclays Capital U.S. MBS Index, while IBTF is a Government Bonds fund tracking the ICE 2025 Maturity US Treasury Index. Both are passively managed. Over the past 5 years, MBB returned 0.42%/yr vs 0.90%/yr for IBTF. A 0.56 correlation means they provide meaningful diversification when combined. MBB charges 0.06%/yr vs 0.07%/yr for IBTF.
Performance
MBB vs. IBTF - Performance Comparison
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Returns By Period
MBB
- 1D
- 0.01%
- 1M
- 0.17%
- YTD
- 0.81%
- 6M
- 1.13%
- 1Y
- 6.95%
- 3Y*
- 4.45%
- 5Y*
- 0.42%
- 10Y*
- 1.32%
IBTF
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.09%
- 1Y
- 2.14%
- 3Y*
- 3.66%
- 5Y*
- 0.90%
- 10Y*
- —
MBB vs. IBTF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MBB iShares MBS Bond ETF | 0.81% | 8.38% | 1.31% | 5.01% | -11.74% | -1.43% | 2.47% |
IBTF iShares iBonds Dec 2025 Term Treasury ETF | 0.00% | 3.81% | 4.60% | 4.12% | -6.39% | -2.31% | 3.60% |
Correlation
The correlation between MBB and IBTF is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020 | 0.56 |
Over the past year, the correlation between MBB and IBTF has dropped to 0.02 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.
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Return for Risk
MBB vs. IBTF — Risk / Return Rank
MBB
IBTF
MBB vs. IBTF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MBS Bond ETF (MBB) and iShares iBonds Dec 2025 Term Treasury ETF (IBTF). 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.
| MBB | IBTF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.55 | 7.08 | -5.52 |
Sortino ratioReturn per unit of downside risk | 2.28 | 20.07 | -17.79 |
Omega ratioGain probability vs. loss probability | 1.28 | 6.23 | -4.95 |
Calmar ratioReturn relative to maximum drawdown | 2.24 | 64.70 | -62.46 |
Martin ratioReturn relative to average drawdown | 7.49 | 219.02 | -211.53 |
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
| MBB | IBTF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.55 | 7.08 | -5.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 0.39 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.44 | +0.14 |
Drawdowns
MBB vs. IBTF - Drawdown Comparison
The maximum MBB drawdown since its inception was -17.64%, which is greater than IBTF's maximum drawdown of -10.45%. Use the drawdown chart below to compare losses from any high point for MBB and IBTF.
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Drawdown Indicators
| MBB | IBTF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.64% | -10.45% | -7.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -0.04% | -2.90% |
Max Drawdown (3Y)Largest decline over 3 years | -7.68% | -0.67% | -7.01% |
Max Drawdown (5Y)Largest decline over 5 years | -17.19% | -9.53% | -7.66% |
Max Drawdown (10Y)Largest decline over 10 years | -17.64% | — | — |
Current DrawdownCurrent decline from peak | -1.29% | 0.00% | -1.29% |
Average DrawdownAverage peak-to-trough decline | -2.35% | -3.33% | +0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.01% | +0.87% |
Volatility
MBB vs. IBTF - Volatility Comparison
iShares MBS Bond ETF (MBB) has a higher volatility of 1.62% compared to iShares iBonds Dec 2025 Term Treasury ETF (IBTF) at 0.00%. This indicates that MBB's price experiences larger fluctuations and is considered to be riskier than IBTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MBB | IBTF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 0.00% | +1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 3.24% | 0.19% | +3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.51% | 0.36% | +4.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.81% | 2.38% | +4.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.31% | 2.56% | +2.75% |
MBB vs. IBTF - Expense Ratio Comparison
MBB has a 0.06% expense ratio, which is lower than IBTF's 0.07% 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
MBB vs. IBTF - Dividend Comparison
MBB's dividend yield for the trailing twelve months is around 4.27%, more than IBTF's 2.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTF iShares iBonds Dec 2025 Term Treasury ETF | 2.08% | 3.83% | 4.32% | 4.03% | 1.93% | 0.57% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MBB iShares MBS Bond ETF | 4.27% | 4.21% | 3.94% | 3.40% | 2.31% | 1.05% | 2.10% | 2.77% | 2.64% | 2.23% | 2.58% | 2.66% |
Frequently Asked Questions
MBB and IBTF have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MBB has higher volatility (1.62%) compared to IBTF (0.00%). In terms of maximum drawdown, MBB dropped -17.64% vs IBTF's -10.45%.
On 5-year performance, IBTF leads with 0.90% vs 0.42% for MBB. On fees, MBB is cheaper at 0.06% per year. On volatility, IBTF has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBTF has performed better with a 0.90% return vs 0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MBB is cheaper with a 0.06% expense ratio, compared with 0.07% for IBTF.
MBB has the higher dividend yield at 4.27%, compared with 2.08% for IBTF.
MBB is categorized as Mortgage Backed Securities, while IBTF is Government Bonds. MBB tracks Barclays Capital U.S. MBS Index, while IBTF tracks ICE 2025 Maturity US Treasury Index. Their fees differ too: 0.06% for MBB and 0.07% for IBTF.
IBTF currently has the higher Sharpe Ratio (7.08 vs 1.55), 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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