IBDT vs VBCB: Grades, Fees and Holdings Compared

iShares iBonds Dec 2028 Term Corporate ETF

IBDTANYSE Arca

Vanguard Target Maturity 2028 Corporate Bond ETF

VBCBANasdaq

Overlap

No data

Expense ratio

VBCB −0.02pt a year

IBDT0.10%VBCB0.08%

Avg volume · 30D

IBDT 27.9×the volume

IBDT723KVBCB25.9K

IBDT vs VBCB Performance

Jul 31, 2026 – Oct 30, 2026

+0.5%IBDT+0.6%VBCB

Expense ratio: IBDT 0.10%; VBCB 0.08%, better
Fund size: IBDT $4.15B; VBCB $117M
1Y total return: IBDT +2.7%; VBCB No data
Yield (12M): IBDT 4.52%; VBCB No data
Holdings: IBDT 740; VBCB 667
Avg volume (30D): IBDT 723K sh, better; VBCB 25.9K sh
NAV per share: IBDT $25.05; VBCB $75.14
52W range

ETF.net Grade

Pillar letters and Scores for IBDT, VBCB, with each pillar’s weight
Pillar	IBDT	VBCB
Cost30% weight	C50	A89Higher
Mission25% weight	A100	A100
Risk15% weight	B68	A88Higher
Tradability15% weight	A91Higher	C40
Holdings10% weight	A96Higher	A84
Durability5% weight	A83Higher	B56

Rank among Defined-Maturity Investment Grade Corporate funds

How we build Categories ›

Same Category. IBDT 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 IBDT 3rd 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

Our read on each fund

ETF.net Research

IBDTAiShares iBonds Dec 2028 Term Corporate ETF

VBCBAVanguard Target Maturity 2028 Corporate Bond ETF

In short

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.

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

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.

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

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.

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

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

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 IBDT profile⁠

Full VBCB profile⁠

IBDT vs VBCB Holdings

How IBDT and VBCB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile93.1%
Asset classFixed Income100%

Sector

No Sector split for VBCB.

Country, concentration and asset class

Country by domicile

Country weights in IBDT and VBCB, widest gap first
Country	More in IBDTMore in VBCB	IBDT	VBCB
United States	IBDT +4.7 points	85.3%	80.6%
United Kingdom	VBCB +2.7 points	2.2%	4.9%
Canada	VBCB +1.0 points	3.8%	4.8%
Germany	VBCB +1.0 points	0.0%	0.9%
Singapore	IBDT +0.7 points	0.7%	0.0%
Australia	VBCB +0.7 points	1.3%	2.0%
Switzerland	VBCB +0.6 points	0.0%	0.6%
Other countries (13)	IBDT +0.5 points	6.7%	6.2%

Concentration

Weight in the 10 largest Holdings

IBDT6.2%
VBCB6.2%

Securities held

IBDT737
VBCB662

Asset class

IBDT: Fixed Income
VBCB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. IBDT holds 737 securities, VBCB 662.

All 740 IBDT 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.

IBDT vs VBCB Cost

Overpaying IBDT vs VBCB

$417

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

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

Amount$10,000

Years30 years

Cost over time

IBDT 0.10%
VBCB 0.08%
Overpaying

Year by year

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

Expense ratio

0.10%IBDT
0.08%VBCB, cheaper

VBCB0.08%IBDT0.10%

0.08%0.15%

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

VBCB cheapest of 42 funds

IBDT 11th cheapest of 42 funds

IBDT vs VBCB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IBDT 4.52%; VBCB No data
Payout (12M): IBDT $1.13; VBCB No data
Last payment: IBDT $0.09; VBCB $0.26
Ex-dividend: IBDT Oct 1, 2026; VBCB Oct 1, 2026
Paid on: IBDT Oct 6, 2026; VBCB Oct 5, 2026
Frequency: IBDT Monthly; VBCB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

IBDTMonthly · 45 paymentsAll IBDT payments⁠

VBCBMonthly · 6 paymentsAll VBCB payments⁠

IBDT vs VBCB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IBDT 3.4%VBCB No data
Return per unit of riskSharpe ratio, 3 years: IBDT 0.57VBCB No data
Worst fallMax drawdown, 5 years: IBDT −16.7%VBCB No data
Market sensitivityBeta, 5 years: IBDT 0.60VBCB 0.05; Market = 1

Popular comparisons

IBDTAvsVBCAA
iShares iBonds Dec 2028 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
IBDTAvsVBCCA
iShares iBonds Dec 2028 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
IBDTAvsVBCDA
iShares iBonds Dec 2028 Term Corporate ETF · Vanguard Target Maturity 2030 Corporate Bond ETF
Expense ratio
0.10% · 0.08%
Category
VBCBAvsVBCDA
Vanguard Target Maturity 2028 Corporate Bond ETF · Vanguard Target Maturity 2030 Corporate Bond ETF
Expense ratio
0.08% · 0.08%
Category