IBDR vs VBCB: Grades, Fees and Holdings Compared

iShares iBonds Dec 2026 Term Corporate ETF

IBDRANYSE Arca

Vanguard Target Maturity 2028 Corporate Bond ETF

VBCBANasdaq

Overlap

No data

Expense ratio

VBCB −0.02pt a year

IBDR0.10%VBCB0.08%

Avg volume · 30D

IBDR 27.4×the volume

IBDR709KVBCB25.9K

IBDR vs VBCB Performance

Jul 31, 2026 – Oct 30, 2026

+0.9%IBDR+0.6%VBCB

Expense ratio: IBDR 0.10%; VBCB 0.08%, better
Fund size: IBDR $2.79B; VBCB $117M
1Y total return: IBDR +3.9%; VBCB No data
Yield (12M): IBDR 4.03%; VBCB No data
Holdings: IBDR 73; VBCB 667
Avg volume (30D): IBDR 709K sh, better; VBCB 25.9K sh
NAV per share: IBDR $24.25; VBCB $75.14
52W range

ETF.net Grade

Pillar letters and Scores for IBDR, VBCB, with each pillar’s weight
Pillar	IBDR	VBCB
Cost30% weight	C50	A89Higher
Mission25% weight	A100	A100
Risk15% weight	A91Higher	A88
Tradability15% weight	A91Higher	C40
Holdings10% weight	F18	A84Higher
Durability5% weight	A81Higher	B56

Rank among Defined-Maturity Investment Grade Corporate funds

How we build Categories ›

Same Category. IBDR 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 IBDR 8th 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 6AIBDUiShares iBonds Dec 2029 Term Corporate ETFScore 74
Rank 8AIBDRiShares iBonds Dec 2026 Term Corporate ETFScore 73
Rank 9AIBDViShares iBonds Dec 2030 Term Corporate ETFScore 72

Our read on each fund

ETF.net Research

IBDRAiShares iBonds Dec 2026 Term Corporate ETF

VBCBAVanguard Target Maturity 2028 Corporate Bond 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.

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

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

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

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.gov ishares.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.

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

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.gov ishares.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%.

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 IBDR profile⁠

Full VBCB profile⁠

IBDR vs VBCB Holdings

How IBDR and VBCB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile84.5%
Asset classFixed Income100%

Sector

No Sector split for IBDR and VBCB.

Country, concentration and asset class

Country by domicile

Country weights in IBDR and VBCB, widest gap first
Country	More in IBDRMore in VBCB	IBDR	VBCB
United States	IBDR +15.5 points	96.1%	80.6%
United Kingdom	VBCB +4.6 points	0.3%	4.9%
Japan	VBCB +3.3 points	0.0%	3.3%
Canada	VBCB +1.9 points	2.9%	4.8%
Australia	VBCB +1.5 points	0.5%	2.0%
Germany	VBCB +1.0 points	0.0%	0.9%
Ireland	VBCB +0.9 points	0.0%	0.9%
Spain	VBCB +0.7 points	0.0%	0.7%
Other countries (6)	VBCB +1.7 points	0.2%	1.9%

Concentration

Weight in the 10 largest Holdings

IBDR82.8%
VBCB6.2%

Securities held

IBDR72
VBCB662

Asset class

IBDR: Fixed Income
VBCB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. IBDR holds 72 securities, VBCB 662.

All 73 IBDR holdings⁠All 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.

IBDR vs VBCB Cost

Overpaying IBDR vs VBCB

$417

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

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

Amount$10,000

Years30 years

Cost over time

IBDR 0.10%
VBCB 0.08%
Overpaying

Year by year

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

Expense ratio

0.10%IBDR
0.08%VBCB, cheaper

VBCB0.08%IBDR0.10%

0.08%0.15%

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

VBCB cheapest of 42 funds

IBDR 11th cheapest of 42 funds

IBDR vs VBCB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IBDR 4.03%; VBCB No data
Payout (12M): IBDR $0.98; VBCB No data
Last payment: IBDR $0.08; VBCB $0.26
Ex-dividend: IBDR Oct 1, 2026; VBCB Oct 1, 2026
Paid on: IBDR Oct 6, 2026; VBCB Oct 5, 2026
Frequency: IBDR Monthly; VBCB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

IBDRMonthly · 45 paymentsAll IBDR payments⁠

VBCBMonthly · 6 paymentsAll VBCB payments⁠

IBDR vs VBCB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IBDR 1.6%VBCB No data
Return per unit of riskSharpe ratio, 3 years: IBDR 0.66VBCB No data
Worst fallMax drawdown, 5 years: IBDR −12.3%VBCB No data
Market sensitivityBeta, 5 years: IBDR 0.26VBCB 0.05; Market = 1

IBDR and VBCB in the news

All news⁠

Income Watch
iShares iBonds 2026 high-yield fund still shows a 5.53% yield it is not earning
Nov 1, 2026IBDR

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IBDR vs VBCB

In short

Stated mandate

Why people hold it

Worth knowing

How IBDR and VBCB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

iShares iBonds 2026 high-yield fund still shows a 5.53% yield it is not earning

How IBDR and VBCB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings