IBCA vs VBCB: Grades, Fees and Holdings Compared

iShares iBonds Dec 2035 Term Corporate ETF

IBCABNYSE Arca

Vanguard Target Maturity 2028 Corporate Bond ETF

VBCBANasdaq

Overlap

No data

Expense ratio

VBCB −0.02pt a year

IBCA0.10%VBCB0.08%

Avg volume · 30D

IBCA 6.1×the volume

IBCA163KVBCB26.8K

IBCA vs VBCB Performance

Aug 7, 2026 – Nov 9, 2026

−0.8%IBCA+0.5%VBCB

Expense ratio: IBCA 0.10%; VBCB 0.08%, better
Fund size: IBCA $495M; VBCB $117M
1Y total return: IBCA −0.3%; VBCB No data
Yield (12M): IBCA 4.95%; VBCB No data
Holdings: IBCA 415; VBCB 667
Avg volume (30D): IBCA 163K sh, better; VBCB 26.8K sh
NAV per share: IBCA $24.57; VBCB $75.01
52W range

ETF.net Grade

Pillar letters and Scores for IBCA, VBCB, with each pillar’s weight
Pillar	IBCA	VBCB
Cost30% weight	C50	A89Higher
Mission25% weight	A86	A100Higher
Risk15% weight	D25	A88Higher
Tradability15% weight	C44Higher	C40
Holdings10% weight	A70	A84Higher
Durability5% weight	C53	C54Higher

Rank among Defined-Maturity Investment Grade Corporate funds

How we build Categories ›

Same Category. IBCA and VBCB 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 ›

VBCB ranks 1st 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 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

VBCBAVanguard Target Maturity 2028 Corporate Bond 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.

VBCB Vanguard finally showed up to the bond-ladder party. VBCB owns U.S. investment-grade corporate bonds that all mature in 2028, and it undercuts the typical target-maturity rung on fees.

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.

VBCB The fund seeks to track a market-weighted index of U.S.-dollar-denominated, investment-grade corporate bonds that mature in 2028.

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.

VBCB Charges 0.08% a year, below the 0.10% typical for target-maturity bond funds and below the iBonds and BulletShares rungs (IBDU, BSCT, BSCU) it lines up against.
Every bond in the index is dollar-denominated investment grade maturing in 2028: one rung of a bond ladder in one ticker, with income paid quarterly.
A plain market-weighted ICE index run through Vanguard's index plumbing, and one of the stronger builds 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.

VBCB Launched in 2026 and still small, it trades thinly, so spreads can run wider than on the long-established corporate ladders.
Corporate credit, not Treasuries. Investment grade lowers the odds of trouble, but downgrades and defaults stay in the mix.
One maturity year, not a whole curve. This is a rung, not a stand-in for a broad bond fund.

Full IBCA profile⁠

Full VBCB profile⁠

IBCA vs VBCB Holdings

How IBCA and VBCB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile89.6%
Asset classBonds100%

Sector

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

Country, concentration and asset class

Country by domicile

Country weights in IBCA and VBCB, widest gap first
Country	Gap	IBCA	VBCB
United States	IBCA +8.9 points	89.5%	80.6%
United Kingdom	VBCB +3.8 points	1.1%	4.9%
Canada	VBCB +2.1 points	2.7%	4.8%
Japan	VBCB +1.7 points	1.6%	3.3%
Germany	VBCB +1.0 points	0.0%	0.9%
Mexico	IBCA +0.7 points	0.7%	0.0%
Australia	VBCB +0.7 points	1.3%	2.0%
Netherlands	VBCB +0.5 points	0.2%	0.7%
Other countries (9)	IBCA +0.1 points	2.9%	2.8%

Concentration

Weight in the 10 largest Holdings

IBCA9.1%
VBCB6.2%

Securities held

IBCA414
VBCB662

Asset class

IBCA: Bonds
VBCB: Bonds

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. IBCA holds 414 securities, VBCB 662.

All 414 IBCA holdings⁠All 664 VBCB 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 VBCB Cost

Overpaying IBCA vs VBCB

$417

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

IBCA 0.10%
$2,106
VBCB 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

IBCA 0.10%
VBCB 0.08%
Overpaying

Year by year

Year	IBCA	VBCB	Overpaying
10	$183	$147	$36
20	$717	$575	$142
30	$2,106	$1,689	$417

Expense ratio

0.10%IBCA
0.08%VBCB, cheaper

VBCB0.08%IBCA0.10%

0.08%0.15%

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

VBCB cheapest of 42 funds

IBCA 11th cheapest of 42 funds

IBCA vs VBCB Dividends

Last 12 months to Nov 9, 2026

Yield (12M): IBCA 4.95%; VBCB No data
Payout (12M): IBCA $1.22; VBCB No data
Last payment: IBCA $0.10; VBCB $0.26
Ex-dividend: IBCA Nov 2, 2026; VBCB Nov 2, 2026
Paid on: IBCA Nov 5, 2026; VBCB Nov 4, 2026
Frequency: IBCA Monthly; VBCB Monthly

Distribution history

Per share, 2025 to 2026, same scale for both

IBCAMonthly · 19 paymentsAll IBCA payments⁠

VBCBMonthly · 7 paymentsAll VBCB payments⁠

IBCA vs VBCB 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 2025VBCB No data
Return per unit of riskSharpe ratio, 3 years: IBCA −0.20since Apr 2025VBCB No data
Worst fallMax drawdown, 5 years: IBCA −5.7%since Mar 2025VBCB No data
Market sensitivityBeta, 5 years: IBCA 0.14VBCB 0.05; Market = 1

Popular comparisons

IBCABvsVBCCA
iShares iBonds Dec 2035 Term Corporate ETF · Vanguard Target Maturity 2029 Corporate Bond ETF
Expense ratio
0.10% · 0.08%
Category
VBCBAvsVBCCA
Vanguard Target Maturity 2028 Corporate Bond ETF · Vanguard Target Maturity 2029 Corporate Bond ETF
Expense ratio
0.08% · 0.08%
Category
IBCABvsIBDTA
iShares iBonds Dec 2035 Term Corporate ETF · iShares iBonds Dec 2028 Term Corporate ETF
Expense ratio
0.10% · 0.10%
Category
VBCBAvsIBDTA
Vanguard Target Maturity 2028 Corporate Bond ETF · iShares iBonds Dec 2028 Term Corporate ETF
Expense ratio
0.08% · 0.10%
Category
IBCABvsVBCAA
iShares iBonds Dec 2035 Term Corporate ETF · Vanguard Target Maturity 2027 Corporate Bond ETF
Expense ratio
0.10% · 0.08%
Category
VBCBAvsVBCAA
Vanguard Target Maturity 2028 Corporate Bond ETF · Vanguard Target Maturity 2027 Corporate Bond ETF
Expense ratio
0.08% · 0.08%
Category