IBCA vs IBDT: Grades, Fees and Holdings Compared

iShares iBonds Dec 2035 Term Corporate ETF

IBCABNYSE Arca

iShares iBonds Dec 2028 Term Corporate ETF

IBDTANYSE Arca

Overlap

No data

Expense ratio

IBCA0.10%IBDT0.10%

Avg volume · 30D

IBDT 4.5×the volume

IBCA163KIBDT734K

IBCA vs IBDT Performance

Nov 7, 2025 – Nov 9, 2026

−0.3%IBCA+2.7%IBDT

Expense ratio: IBCA 0.10%; IBDT 0.10%
Fund size: IBCA $495M; IBDT $4.16B
1Y total return: IBCA −0.3%; IBDT +2.7%, better
Yield (12M): IBCA 4.95%, better; IBDT 4.51%
Holdings: IBCA 415; IBDT 743
Avg volume (30D): IBCA 163K sh; IBDT 734K sh, better
NAV per share: IBCA $24.57; IBDT $25.00
52W range

ETF.net Grade

Pillar letters and Scores for IBCA, IBDT, with each pillar’s weight
Pillar	IBCA	IBDT
Cost30% weight	C50	C50
Mission25% weight	A86	A100Higher
Risk15% weight	D25	A71Higher
Tradability15% weight	C44	A91Higher
Holdings10% weight	A70	A94Higher
Durability5% weight	C53	A86Higher

Rank among Defined-Maturity Investment Grade Corporate funds

How we build Categories ›

Same Category. IBCA 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 IBCA 28th of 42 funds in the Defined-Maturity Investment Grade Corporate Category.

Rank 1AVBCBVanguard Target Maturity 2028 Corporate Bond ETFScore 81
Rank 2AVBCCVanguard Target Maturity 2029 Corporate Bond ETFScore 78
Rank 3AIBDTiShares iBonds Dec 2028 Term Corporate ETFScore 77
Rank 4AVBCAVanguard Target Maturity 2027 Corporate Bond ETFScore 76
Rank 27BVBCHVanguard Target Maturity 2034 Corporate Bond ETFScore 57
Rank 28BIBCAiShares iBonds Dec 2035 Term Corporate ETFScore 56
Rank 28BIBDXiShares iBonds Dec 2032 Term Corporate ETFScore 56

Our read on each fund

ETF.net Research

IBCABiShares iBonds Dec 2035 Term Corporate ETF

IBDTAiShares iBonds Dec 2028 Term Corporate ETF

In short

IBCA A single rung near the long end of the corporate bond ladder: IBCA holds a basket of investment-grade corporates all maturing in 2035, pairing a bond's defined maturity year with an ETF's diversification.

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

IBCA The fund seeks to track an index of investment-grade corporate bonds maturing in 2035, offering income potential and a defined-maturity bond-ladder strategy.

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

IBCA Defined maturity is the whole point: only investment-grade corporates maturing in 2035, so it works as one rung in a build-it-yourself ladder.ishares.com
About 400 bonds dilute any one issuer's credit trouble, and income arrives monthly.
Costs 0.10% a year, in line with the typical target-maturity bond fund, and it has stayed close to its Bloomberg December 2035 Maturity Corporate Index.
Lands in the upper half of a crowded target-maturity bond field, with no structural quirks flagged in how it is built.

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

IBCA A 2035 finish line means years of interest-rate sensitivity: prices swing more than short-dated rungs when yields move.
Launched in 2025, so the track record is thin, and trading is moderate rather than heavy. Limit orders earn their keep.
Matched on fee, not cheapest: IBTJ (0.07%) and VBCB (0.08%) undercut it, though they cover different maturity years and, for IBTJ, Treasuries.

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 IBCA profile⁠

Full IBDT profile⁠

IBCA vs IBDT Holdings

How IBCA and IBDT differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile94.0%
Asset classBonds100%

Sector

IBCA and IBDT share no Sector name, so they cannot be compared by Sector.

Country, concentration and asset class

Country by domicile

Country weights in IBCA and IBDT, widest gap first
Country	Gap	IBCA	IBDT
United States	IBCA +4.1 points	89.5%	85.4%
Japan	IBDT +1.4 points	1.6%	3.0%
United Kingdom	IBDT +1.1 points	1.1%	2.2%
Canada	IBDT +1.0 points	2.7%	3.7%
Mexico	IBCA +0.7 points	0.7%	0.0%
Singapore	IBDT +0.7 points	0.0%	0.7%
Other countries (14)	IBDT +0.7 points	4.3%	5.0%

Concentration

Weight in the 10 largest Holdings

IBCA9.1%
IBDT6.3%

Securities held

IBCA414
IBDT740

Asset class

IBCA: Bonds
IBDT: Bonds

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. IBCA holds 414 securities, IBDT 740.

All 414 IBCA holdings⁠All 742 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.

IBCA vs IBDT Cost

Same expense ratio

$2,106

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

IBCA 0.10%
$2,106
IBDT 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

IBCA 0.10%
IBDT 0.10%

Year by year

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

Expense ratio

0.10%IBCA
0.10%IBDT

IBCA0.10%IBDT0.10%

0.08%0.15%

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

IBCA 11th cheapest of 42 funds

IBDT 11th cheapest of 42 funds

IBCA vs IBDT Dividends

Last 12 months to Nov 9, 2026

Yield (12M): IBCA 4.95%, better; IBDT 4.51%
Payout (12M): IBCA $1.22; IBDT $1.13
Last payment: IBCA $0.10; IBDT $0.09
Ex-dividend: IBCA Nov 2, 2026; IBDT Nov 2, 2026
Paid on: IBCA Nov 5, 2026; IBDT Nov 5, 2026
Frequency: IBCA Monthly; IBDT Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

IBCAMonthly · 19 paymentsAll IBCA payments⁠

IBDTMonthly · 46 paymentsAll IBDT payments⁠

IBCA vs IBDT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IBCA 5.0%since Apr 2025IBDT 3.4%
Return per unit of riskSharpe ratio, 3 years: IBCA −0.20since Apr 2025IBDT 0.57
Worst fallMax drawdown, 5 years: IBCA −5.7%since Mar 2025IBDT −16.7%
Market sensitivityBeta, 5 years: IBCA 0.14IBDT 0.60; Market = 1

Popular comparisons

IBCABvsVBCBA
iShares iBonds Dec 2035 Term Corporate ETF · Vanguard Target Maturity 2028 Corporate Bond ETF
Expense ratio
0.10% · 0.08%
Category
IBDTAvsVBCBA
iShares iBonds Dec 2028 Term Corporate ETF · Vanguard Target Maturity 2028 Corporate Bond ETF
Expense ratio
0.10% · 0.08%
Category
IBCABvsVBCCA
iShares iBonds Dec 2035 Term Corporate ETF · Vanguard Target Maturity 2029 Corporate Bond ETF
Expense ratio
0.10% · 0.08%
Category
IBDTAvsVBCCA
iShares iBonds Dec 2028 Term Corporate ETF · Vanguard Target Maturity 2029 Corporate Bond ETF
Expense ratio
0.10% · 0.08%
Category
IBCABvsVBCAA
iShares iBonds Dec 2035 Term Corporate ETF · Vanguard Target Maturity 2027 Corporate Bond ETF
Expense ratio
0.10% · 0.08%
Category
IBDTAvsVBCAA
iShares iBonds Dec 2028 Term Corporate ETF · Vanguard Target Maturity 2027 Corporate Bond ETF
Expense ratio
0.10% · 0.08%
Category