IBDY vs VBCB: Grades, Fees and Holdings Compared

iShares iBonds Dec 2033 Term Corporate ETF

IBDYBNYSE Arca

Vanguard Target Maturity 2028 Corporate Bond ETF

VBCBANasdaq

Overlap

No data

Expense ratio

VBCB −0.02pt a year

IBDY0.10%VBCB0.08%

Avg volume · 30D

IBDY 10.6×the volume

IBDY275KVBCB25.9K

IBDY vs VBCB Performance

Jul 31, 2026 – Oct 30, 2026

−0.6%IBDY+0.6%VBCB

Expense ratio: IBDY 0.10%; VBCB 0.08%, better
Fund size: IBDY $1.2B; VBCB $117M
1Y total return: IBDY −0.3%; VBCB No data
Yield (12M): IBDY 5.03%; VBCB No data
Holdings: IBDY 428; VBCB 667
Avg volume (30D): IBDY 275K sh, better; VBCB 25.9K sh
NAV per share: IBDY $24.87; VBCB $75.14
52W range

ETF.net Grade

Pillar letters and Scores for IBDY, VBCB, with each pillar’s weight
Pillar	IBDY	VBCB
Cost30% weight	C50	A89Higher
Mission25% weight	A100	A100
Risk15% weight	D29	A88Higher
Tradability15% weight	A73Higher	C40
Holdings10% weight	B66	A84Higher
Durability5% weight	B64Higher	B56

Rank among Defined-Maturity Investment Grade Corporate funds

How we build Categories ›

Same Category. IBDY 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 IBDY 17th 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 16BBSCUInvesco BulletShares 2030 Corporate Bond ETFScore 67
Rank 17BIBDYiShares iBonds Dec 2033 Term Corporate ETFScore 65
Rank 18BVBCEVanguard Target Maturity 2031 Corporate Bond ETFScore 64

Our read on each fund

ETF.net Research

IBDYBiShares iBonds Dec 2033 Term Corporate ETF

VBCBAVanguard Target Maturity 2028 Corporate Bond ETF

In short

IBDY Most bond funds roll their holdings forever. IBDY doesn't: it owns about 400 investment-grade corporate bonds that all come due in 2033, then it's done. One rung of a bond ladder, bought with one ticker.

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

IBDY The fund seeks to track an index of U.S. dollar-denominated, investment-grade corporate bonds maturing in 2033.

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

IBDY The end date is the whole point. It's a term fund holding corporate bonds that mature in 2033, so the portfolio has a finish line instead of rolling into new paper indefinitely.
0.10% a year, right at the category median and level with rival ladder rungs like IBDU and BSCT.
Spread across roughly 400 corporate issues with monthly distributions, so any single borrower is a small slice of the pile.
Tracks its Bloomberg 2033 maturity index tightly and is one of the easier funds to trade in the target-maturity aisle, backed by a billion-dollar-plus asset base.

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

IBDY 2033 is far out. Long-dated bonds move hard when rates move, and the share price can wander a long way before that maturity date arrives.
Corporate credit, not Treasuries. Investment-grade issuers can still be downgraded or default, and that lands in the fund's value.
As 2033 nears, the bonds shorten and the fund behaves less like a bond fund and more like short-term paper. It's a rung with an expiry, not a permanent holding.

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 IBDY profile⁠

Full VBCB profile⁠

IBDY vs VBCB Holdings

How IBDY and VBCB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile89.5%
Asset classFixed Income100%

Sector

No Sector split for VBCB.

Country, concentration and asset class

Country by domicile

Country weights in IBDY and VBCB, widest gap first
Country	More in IBDYMore in VBCB	IBDY	VBCB
United States	IBDY +7.1 points	87.7%	80.6%
United Kingdom	VBCB +4.0 points	0.9%	4.9%
Japan	VBCB +1.9 points	1.4%	3.3%
Singapore	IBDY +1.4 points	1.4%	0.0%
Canada	VBCB +1.2 points	3.6%	4.8%
Australia	VBCB +1.2 points	0.8%	2.0%
Luxembourg	IBDY +1.0 points	1.0%	0.0%
Germany	VBCB +1.0 points	0.0%	0.9%
Other countries (10)	VBCB +0.3 points	3.2%	3.5%

Concentration

Weight in the 10 largest Holdings

IBDY10.5%
VBCB6.2%

Securities held

IBDY427
VBCB662

Asset class

IBDY: Fixed Income
VBCB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. IBDY holds 427 securities, VBCB 662.

All 427 IBDY 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.

IBDY vs VBCB Cost

Overpaying IBDY vs VBCB

$417

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

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

Amount$10,000

Years30 years

Cost over time

IBDY 0.10%
VBCB 0.08%
Overpaying

Year by year

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

Expense ratio

0.10%IBDY
0.08%VBCB, cheaper

VBCB0.08%IBDY0.10%

0.08%0.15%

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

VBCB cheapest of 42 funds

IBDY 11th cheapest of 42 funds

IBDY vs VBCB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IBDY 5.03%; VBCB No data
Payout (12M): IBDY $1.25; VBCB No data
Last payment: IBDY $0.11; VBCB $0.26
Ex-dividend: IBDY Oct 1, 2026; VBCB Oct 1, 2026
Paid on: IBDY Oct 6, 2026; VBCB Oct 5, 2026
Frequency: IBDY Monthly; VBCB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

IBDYMonthly · 39 paymentsAll IBDY payments⁠

VBCBMonthly · 6 paymentsAll VBCB payments⁠

IBDY vs VBCB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IBDY 6.7%VBCB No data
Return per unit of riskSharpe ratio, 3 years: IBDY 0.40VBCB No data
Worst fallMax drawdown, 5 years: IBDY −7.5%since Jun 2023VBCB No data
Market sensitivityBeta, 5 years: IBDY 1.20VBCB 0.05; Market = 1

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