iShares iBonds Dec 2032 Term Treasury ETF (IBTM) Performance
IBTM total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.7% since Dec 31, 2025
- 1 year
- −1.7% total return
- 3 years
- +4.8% a year
- Since first price
- +1.1% a year since 2022
IBTM trailing returns vs AGG, TLT, SPY
| Period | IBTM total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.2% | +0.9% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.6% | −1.6% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.9% | −3.8% | −1.5% | −3.8% | +7.8% |
| YTD | −1.7% | −4.5% | −1.0% | −3.4% | +12.3% |
| 1 year | −1.7% | −5.4% | −1.1% | −6.9% | +14.4% |
| 3 years | +14.9%+4.8%/yr | +2.3% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| Since inceptionJul 8, 2022 | +4.7%+1.1%/yr | −10.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: IBTM vs AGG
From Jul 8, 2022: IBTM grew to $10,473, AGG to $11,030.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
IBTM returns by calendar year
2 of 3 full years positive. Best 2025 (+8.1%), worst 2024 (−0.1%). 2026 is year to date.
IBTM annual returns table
| Year | IBTM | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.7% | −5.1% | −1.0% | −3.4% | +12.3% |
| 2025 | +8.1% | −2.9% | +7.2% | +4.3% | +17.7% |
| 2024 | −0.1% | −5.5% | +1.3% | −8.1% | +24.9% |
| 2023 | +3.5% | −10.3% | +5.7% | +2.8% | +26.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
IBTM largest drawdowns
Now 3.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 1, 2022 | −13.6% | Oct 19, 2023 | Aug 1, 2025 | 1.2 years | 3.0 years |
| Feb 27, 2026 | −5.1% | Sep 30, 2026 | not yet | 7 months | 8 months so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
IBTM risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +3.6% | −0.2% |
| Volatility (annualized) | 6.2% | 7.4% |
| Sharpe ratio | -0.11 | -0.57 |
| Sortino ratio | -0.15 | -0.72 |
| Best month | +4.4% | +4.4% |
| Worst month | −3.2% | −4.8% |
| Best 12 months | +11.0% | +11.0% |
| Worst 12 months | −2.3% | −7.1% |
| Positive months | 58% | 50% |
| Beta vs S&P 500 | 0.20 | — |
| Correlation with S&P 500 | 0.41 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
IBTM rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 40 | −7.1% | +3.0% | +11.0% | 72% |
| 3-year (a year) | 16 | −0.2% | +3.2% | +4.8% | 94% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
IBTM performance overview
iShares iBonds Dec 2032 Term Treasury ETF (IBTM) returned −1.7% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned +1.1% a year, turning $10,000 into about $10,473. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −13.6%, from Aug 1, 2022 to Oct 19, 2023, and it took 1.8 years to get back to the old high. IBTM finished 2 of its 3 full calendar years with a gain; the best year was 2025 (+8.1%) and the worst 2024 (−0.1%). Volatility has been 7.4% a year.
Related: IBTM chart, IBTM dividends, IBTM bond profile. See the IBTM overview for the latest quote and fund facts.
IBTM performance FAQ
What is the IBTM return over the past year?
IBTM returned −1.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 5.4%.
How much would $10,000 invested in IBTM be worth?
$10,000 invested in IBTM at its first recorded close on July 8, 2022 would be worth about $10,473 on October 23, 2026 with distributions reinvested.
What was the worst year for IBTM?
The worst calendar year was 2024, with a total return of −0.1%. The best was 2025 at +8.1%.
What is the biggest drawdown of IBTM?
The largest peak-to-trough decline was −13.6% between August 1, 2022 and October 19, 2023. It recovered to the old high on August 1, 2025, 1.8 years after the bottom.
How volatile is IBTM?
Over the past 3 years IBTM had an annualized volatility of 6.2% and a Sharpe ratio of -0.11 (excess return over 1–3 month T-bills per unit of risk).