IBDR vs IBDT

IBDRAiShares iBonds Dec 2026 Term Corporate ETF

IBDTAiShares iBonds Dec 2028 Term Corporate ETF

In short

IBDR A rung of a bond ladder in ETF form: roughly 170 investment-grade corporate bonds that all come due in 2026, after which the fund winds up and hands back the cash. A defined end date, without buying bonds one CUSIP at a time.

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

IBDR The fund seeks to track an index of investment-grade corporate bonds that mature in 2026.

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

• IBDR Built with an expiration date. It terminates on or about December 2026 and distributes its remaining net assets to shareholders under a plan of liquidation.sec.govishares.com
• 0.10% a year, right at the target-maturity peer median, spread across about 170 investment-grade corporate bonds instead of one issuer's credit.
• Tracks the Bloomberg December 2026 Maturity Corporate Index closely and trades actively, one of the stronger implementations in its target-maturity cohort.
• Pays monthly, and iShares runs iBonds for other maturity years (IBDT, IBDU), so every rung of a ladder comes off the same shelf.

• 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

• IBDR It is not a bond. The fund does not seek to return any predetermined amount at maturity, distributions vary over time, and iShares notes losses are possible, including near termination.sec.govishares.com
• In the final months, maturing bonds roll into cash and cash-like instruments, so the portfolio's character shifts as the end date approaches.ishares.com
• Not the cheapest rung available: Vanguard's target-maturity corporate funds (VBCA, VBCB) charge 0.08%.

• 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 IBDR profile⁠

Full IBDT profile⁠