BSCZ vs IBDT: Grades, Fees and Holdings Compared

Invesco BulletShares 2035 Corporate Bond ETF

BSCZBNasdaq

iShares iBonds Dec 2028 Term Corporate ETF

IBDTANYSE Arca

Overlap

No data

Expense ratio

BSCZ0.10%IBDT0.10%

Avg volume · 30D

IBDT 4.0×the volume

BSCZ181KIBDT723K

BSCZ vs IBDT Performance

Oct 31, 2025 – Oct 30, 2026

−1.2%BSCZ+2.7%IBDT

Expense ratio: BSCZ 0.10%; IBDT 0.10%
Fund size: BSCZ $412M; IBDT $4.15B
1Y total return: BSCZ −1.2%; IBDT +2.7%, better
Yield (12M): BSCZ 4.84%, better; IBDT 4.52%
Holdings: BSCZ 314; IBDT 740
Avg volume (30D): BSCZ 181K sh; IBDT 723K sh, better
NAV per share: BSCZ $19.60; IBDT $25.05
52W range

ETF.net Grade

Pillar letters and Scores for BSCZ, IBDT, with each pillar’s weight
Pillar	BSCZ	IBDT
Cost30% weight	C50	C50
Mission25% weight	A89	A100Higher
Risk15% weight	D27	B68Higher
Tradability15% weight	C53	A91Higher
Holdings10% weight	B55	A96Higher
Durability5% weight	D37	A83Higher

Rank among Defined-Maturity Investment Grade Corporate funds

How we build Categories ›

Same Category. BSCZ and IBDT are both graded against the same 42 Defined-Maturity Investment Grade Corporate funds, so their Grades compare head to head.

Defined-Maturity Investment Grade Corporate⁠

Category · 42 funds

See all 42 ›

IBDT ranks 3rd and BSCZ 27th of 42 funds in the Defined-Maturity Investment Grade Corporate Category.

Rank 1AVBCBVanguard Target Maturity 2028 Corporate Bond ETFScore 82
Rank 2AVBCAVanguard Target Maturity 2027 Corporate Bond ETFScore 78
Rank 3AIBDTiShares iBonds Dec 2028 Term Corporate ETFScore 77
Rank 4AVBCCVanguard Target Maturity 2029 Corporate Bond ETFScore 76
Rank 26BBSCYInvesco BulletShares 2034 Corporate Bond ETFScore 59
Rank 27BBSCZInvesco BulletShares 2035 Corporate Bond ETFScore 56
Rank 27BIBCAiShares iBonds Dec 2035 Term Corporate ETFScore 56

Our read on each fund

ETF.net Research

BSCZBInvesco BulletShares 2035 Corporate Bond ETF

IBDTAiShares iBonds Dec 2028 Term Corporate ETF

In short

BSCZ One rung of a bond ladder in a single ticker: roughly 300 investment-grade corporate bonds that all come due in 2035, wrapped in an ETF that charges 0.10% and pays monthly.

IBDT Acts more like a bond than a bond fund: roughly 700 investment-grade corporate bonds that all mature in 2028, wrapped in one ticker with a defined end date. Built for ladder rungs, monthly distributions and a known finish line.

Stated mandate

BSCZ The fund tracks an index of US-dollar-denominated, investment-grade corporate bonds whose effective maturities are in 2035.

IBDT The fund seeks to track an index of investment-grade corporate bonds maturing in 2028 and is designed to support income generation, bond-ladder construction, and interest-rate-risk management through a defined maturity.

Why people hold it

BSCZ Every bond in it matures in the same year, so the portfolio's sensitivity to rate swings winds down as 2035 approaches. Bond-like maturity math, ETF-like access.
Charges 0.10% a year, right at the going rate for target-maturity bond funds, and spreads the credit risk across roughly 300 investment-grade corporate issues.
Pays monthly and sits inside Invesco's BulletShares lineup, where nearer rungs like BSCT (2029) and BSCU (2030) make a multi-year ladder buildable from one issuer.
Tracks its 2035 maturity index closely and lands in the upper half of a crowded target-maturity field on cost, structure and execution.

IBDT The defined 2028 maturity does the work: one ticker behaves like a ladder rung, no hunting down individual bonds or tracking each one's maturity.ishares.com
About 700 investment-grade corporate bonds inside, so no single issuer carries the outcome the way it would in a handful of hand-picked bonds.
Costs 0.10% a year, right at the typical fee for target-maturity bond funds, and it is one of the more actively traded names in that group.
Launched in 2018 and now a multi-billion-dollar fund, it ranks among the strongest implementations in the target-maturity bond group.

Worth knowing

BSCZ A 2035 maturity carries about a decade of rate and credit exposure, so it swings more on rate moves than the short rungs of the same lineup.
Launched in 2025, so there is only a short record to judge how it tracks and trades across a full rate cycle.
Corporate credit, not Treasuries: issuers can be downgraded or default. Trading is moderate, so spreads are worth a look on larger orders.

IBDT Vanguard's VBCB targets the same 2028 corporate maturity for 0.08%, two basis points cheaper.
This is corporate credit, not Treasuries. The bonds are investment grade, but downgrades and defaults are still part of the picture.
It has a finish line. When the 2028 term ends the strategy is over, so the what-next decision lands back with you.ishares.com

Full BSCZ profile⁠

Full IBDT profile⁠

BSCZ vs IBDT Holdings

How BSCZ and IBDT differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile90.1%
Asset classFixed Income100%

Sector

No Sector split for BSCZ.

Country, concentration and asset class

Country by domicile

Country weights in BSCZ and IBDT, widest gap first
Country	More in BSCZMore in IBDT	BSCZ	IBDT
United States	BSCZ +9.1 points	94.4%	85.3%
United Kingdom	IBDT +2.2 points	0.0%	2.2%
Canada	IBDT +2.0 points	1.8%	3.8%
Japan	IBDT +1.7 points	1.3%	3.0%
Australia	IBDT +1.3 points	0.0%	1.3%
Singapore	IBDT +0.7 points	0.0%	0.7%
Norway	BSCZ +0.6 points	0.6%	0.0%
Ireland	IBDT +0.6 points	0.5%	1.1%
Other countries (9)	IBDT +1.3 points	1.4%	2.7%

Concentration

Weight in the 10 largest Holdings

BSCZ11.5%
IBDT6.2%

Securities held

BSCZ312
IBDT737

Asset class

BSCZ: Fixed Income
IBDT: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. BSCZ holds 312 securities, IBDT 737.

All 312 BSCZ holdings⁠All 740 IBDT holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BSCZ vs IBDT Cost

Same expense ratio

$2,106

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BSCZ 0.10%
$2,106
IBDT 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

BSCZ 0.10%
IBDT 0.10%

Year by year

Year	BSCZ	IBDT
10	$183	$183
20	$717	$717
30	$2,106	$2,106

Expense ratio

0.10%BSCZ
0.10%IBDT

BSCZ0.10%IBDT0.10%

0.08%0.15%

Middle half of Defined-Maturity Investment Grade Corporate funds
Median 0.10%

BSCZ 11th cheapest of 42 funds

IBDT 11th cheapest of 42 funds

BSCZ vs IBDT Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BSCZ 4.84%, better; IBDT 4.52%
Payout (12M): BSCZ $0.95; IBDT $1.13
Last payment: BSCZ $0.08; IBDT $0.09
Ex-dividend: BSCZ Oct 19, 2026; IBDT Oct 1, 2026
Paid on: BSCZ Oct 23, 2026; IBDT Oct 6, 2026
Frequency: BSCZ Monthly; IBDT Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BSCZMonthly · 16 paymentsAll BSCZ payments⁠

IBDTMonthly · 45 paymentsAll IBDT payments⁠

BSCZ vs IBDT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BSCZ 5.1%since Jul 2025IBDT 3.4%
Return per unit of riskSharpe ratio, 3 years: BSCZ −0.48since Jul 2025IBDT 0.57
Worst fallMax drawdown, 5 years: BSCZ −5.8%since Jun 2025IBDT −16.7%
Market sensitivityBeta, 5 years: BSCZ 0.10IBDT 0.60; Market = 1

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