ZTEN vs. IBGK
ZTEN (F/M 10-Year Investment Grade Corporate Bond ETF) and IBGK (iShares iBonds Dec 2054 Term Treasury ETF) are both Long-Term Bond funds - ZTEN tracks the ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross while IBGK tracks the ICE 2054 Maturity US Treasury Index. Both are passively managed. Over the past year, ZTEN returned 6.84% vs 4.74% for IBGK. Their correlation of 0.88 suggests significant overlap in exposure. ZTEN charges 0.15%/yr vs 0.07%/yr for IBGK.
Performance
ZTEN vs. IBGK - Performance Comparison
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Returns By Period
In the year-to-date period, ZTEN achieves a 0.17% return, which is significantly higher than IBGK's -0.36% return.
ZTEN
- 1D
- -0.28%
- 1M
- 0.40%
- YTD
- 0.17%
- 6M
- 0.05%
- 1Y
- 6.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBGK
- 1D
- -0.34%
- 1M
- 0.75%
- YTD
- -0.36%
- 6M
- -1.89%
- 1Y
- 4.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZTEN vs. IBGK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | 0.17% | 9.15% | 0.29% |
IBGK iShares iBonds Dec 2054 Term Treasury ETF | -0.36% | 3.66% | -0.53% |
Correlation
The correlation between ZTEN and IBGK is 0.87, 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 | 0.87 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024 | 0.88 |
The correlation between ZTEN and IBGK has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.
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Return for Risk
ZTEN vs. IBGK — Risk / Return Rank
ZTEN
IBGK
ZTEN vs. IBGK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) 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.
| ZTEN | IBGK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.09 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 0.65 | +1.41 |
| Martin ratioReturn relative to average drawdown | 6.72 | 1.63 | +5.09 |
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
| ZTEN | IBGK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 0.51 | +0.87 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.15 | 0.02 | +1.13 |
Drawdowns
ZTEN vs. IBGK - Drawdown Comparison
The maximum ZTEN drawdown since its inception was -3.43%, smaller than the maximum IBGK drawdown of -14.62%. Use the drawdown chart below to compare losses from any high point for ZTEN and IBGK.
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Drawdown Indicators
| ZTEN | IBGK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.43% | -14.62% | +11.19% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -7.29% | +3.97% |
Current DrawdownCurrent decline from peak | -1.46% | -9.19% | +7.73% |
Average DrawdownAverage peak-to-trough decline | -0.78% | -8.06% | +7.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 2.92% | -1.90% |
Volatility
ZTEN vs. IBGK - Volatility Comparison
The current volatility for F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) is 1.61%, while iShares iBonds Dec 2054 Term Treasury ETF (IBGK) has a volatility of 2.70%. This indicates that ZTEN experiences smaller price fluctuations and is considered to be less risky than IBGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZTEN | IBGK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 2.70% | -1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.77% | 6.20% | -2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.99% | 9.36% | -4.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.80% | 11.81% | -6.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.80% | 11.81% | -6.01% |
ZTEN vs. IBGK - Expense Ratio Comparison
ZTEN has a 0.15% 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
ZTEN vs. IBGK - Dividend Comparison
ZTEN's dividend yield for the trailing twelve months is around 5.08%, more than IBGK's 4.72% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IBGK iShares iBonds Dec 2054 Term Treasury ETF | 4.72% | 4.59% | 3.15% |
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | 5.08% | 5.16% | 0.44% |
Frequently Asked Questions
ZTEN and IBGK have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBGK has higher volatility (2.70%) compared to ZTEN (1.61%). In terms of maximum drawdown, ZTEN dropped -3.43% vs IBGK's -14.62%.
On 1-year performance, ZTEN leads with 6.84% vs 4.74% for IBGK. On fees, IBGK is cheaper at 0.07% per year. On volatility, ZTEN has been the lower-risk option at 1.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ZTEN has performed better with a 6.84% return vs 4.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGK is cheaper with a 0.07% expense ratio, compared with 0.15% for ZTEN.
ZTEN has the higher dividend yield at 5.08%, compared with 4.72% for IBGK.
ZTEN tracks ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross, while IBGK tracks ICE 2054 Maturity US Treasury Index. They also come from different issuers: F/m and iShares. Their fees differ too: 0.15% for ZTEN and 0.07% for IBGK.
ZTEN currently has the higher Sharpe Ratio (1.38 vs 0.51), 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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