QAT vs. IBIC
QAT (iShares MSCI Qatar ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - QAT is a Emerging Markets Equities fund tracking the MSCI All Qatar Capped Index, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, QAT returned -1.91% vs 4.19% for IBIC. At a correlation of -0.07, they often move in opposite directions. QAT charges 0.59%/yr vs 0.10%/yr for IBIC.
Performance
QAT vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, QAT achieves a -3.28% return, which is significantly lower than IBIC's 2.55% return.
QAT
- 1D
- -1.07%
- 1M
- -4.88%
- 6M
- -6.30%
- YTD
- -3.28%
- 1Y
- -1.91%
- 3Y*
- 3.89%
- 5Y*
- 2.76%
- 10Y*
- 3.20%
IBIC
- 1D
- 0.07%
- 1M
- 0.26%
- 6M
- 2.41%
- YTD
- 2.55%
- 1Y
- 4.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QAT vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
QAT iShares MSCI Qatar ETF | -3.28% | 8.81% | 5.20% | 2.14% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.55% | 4.96% | 5.25% | 2.17% |
Correlation
The correlation between QAT and IBIC is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | -0.07 |
The correlation between QAT and IBIC shifts across timeframes, from -0.22 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QAT vs. IBIC — Risk / Return Rank
QAT
IBIC
QAT vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Qatar ETF (QAT) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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.
| QAT | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.77 | ||
| Sortino ratioReturn per unit of downside risk | -8.36 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 2.10 | -1.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 15.70 | -15.88 |
| Martin ratioReturn relative to average drawdown | -0.31 | 53.10 | -53.41 |
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Drawdowns
QAT vs. IBIC - Drawdown Comparison
The maximum QAT drawdown since its inception was -45.21%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for QAT and IBIC.
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Drawdown Indicators
| QAT | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.21% | -0.90% | -44.31% |
Max Drawdown (1Y)Largest decline over 1 year | -10.60% | -0.27% | -10.33% |
Max Drawdown (3Y)Largest decline over 3 years | -17.41% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -33.17% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.04% | — | — |
Current DrawdownCurrent decline from peak | -15.31% | -0.08% | -15.23% |
Average DrawdownAverage peak-to-trough decline | -19.11% | -0.10% | -19.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.15% | 0.08% | +6.07% |
Volatility
QAT vs. IBIC - Volatility Comparison
iShares MSCI Qatar ETF (QAT) has a higher volatility of 3.17% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.31%. This indicates that QAT's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QAT | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.17% | 0.31% | +2.86% |
Volatility (6M)Calculated over the trailing 6-month period | 11.12% | 0.70% | +10.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.41% | 0.91% | +12.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.09% | 1.56% | +13.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.51% | 1.56% | +15.95% |
QAT vs. IBIC - Expense Ratio Comparison
QAT has a 0.59% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
QAT vs. IBIC - Dividend Comparison
QAT's dividend yield for the trailing twelve months is around 4.84%, more than IBIC's 4.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 4.62% | 4.43% | 4.65% | 0.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QAT iShares MSCI Qatar ETF | 4.84% | 3.51% | 5.90% | 3.92% | 4.78% | 2.33% | 2.63% | 3.57% | 4.63% | 4.10% | 3.51% | 4.49% |
Frequently Asked Questions
QAT and IBIC have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QAT has higher volatility (3.17%) compared to IBIC (0.31%). In terms of maximum drawdown, QAT dropped -45.21% vs IBIC's -0.90%.
On 1-year performance, IBIC leads with 4.19% vs -1.91% for QAT. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIC has performed better with a 4.19% return vs -1.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.59% for QAT.
QAT has the higher dividend yield at 4.84%, compared with 4.62% for IBIC.
QAT is categorized as Emerging Markets Equities, while IBIC is Inflation-Protected Bonds. QAT tracks MSCI All Qatar Capped Index, while IBIC tracks ICE 2026 Maturity US Inflation-Linked Treasury Index. Their fees differ too: 0.59% for QAT and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.63 vs -0.14), 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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