IBMR vs IBMT: Grades, Fees and Holdings Compared

iShares iBonds Dec 2029 Term Muni Bond ETF

IBMRACboe

iShares iBonds Dec 2031 Term Muni Bond ETF

IBMTACboe

Overlap

No data

Expense ratio

IBMR0.10%IBMT0.10%

Avg volume · 30D

IBMR 1.3×the volume

IBMR105KIBMT82.7K

IBMR vs IBMT Performance

Oct 31, 2025 – Oct 30, 2026

+1.6%IBMR+0.5%IBMT

Expense ratio: IBMR 0.10%; IBMT 0.10%
Fund size: IBMR $527M; IBMT $208M
1Y total return: IBMR +1.6%, better; IBMT +0.5%
Yield (12M): IBMR 2.54%, better; IBMT 2.42%
Holdings: IBMR 2071; IBMT 1822
Avg volume (30D): IBMR 105K sh, better; IBMT 82.7K sh
NAV per share: IBMR $25.16; IBMT $25.40
52W range

ETF.net Grade

Pillar letters and Scores for IBMR, IBMT, with each pillar’s weight
Pillar	IBMR	IBMT
Cost30% weight	A87	A87
Mission25% weight	A96Higher	A82
Risk15% weight	C54Higher	D37
Tradability15% weight	A83Higher	A70
Holdings10% weight	A89Higher	A75
Durability5% weight	A85Higher	B63

Rank among Defined-Maturity Municipal funds

How we build Categories ›

Same Category. IBMR and IBMT are both graded against the same 32 Defined-Maturity Municipal funds, so their Grades compare head to head.

Defined-Maturity Municipal⁠

Category · 32 funds

See all 32 ›

IBMR ranks 3rd and IBMT 5th of 32 funds in the Defined-Maturity Municipal Category.

Rank 1AIBMPiShares iBonds Dec 2027 Term Muni Bond ETFScore 88
Rank 2AIBMQiShares iBonds Dec 2028 Term Muni Bond ETFScore 87
Rank 3AIBMRiShares iBonds Dec 2029 Term Muni Bond ETFScore 83
Rank 4AIBMOiShares iBonds Dec 2026 Term Muni Bond ETFScore 82
Rank 5AIBMTiShares iBonds Dec 2031 Term Muni Bond ETFScore 73
Rank 6AIBMUiShares iBonds Dec 2032 Term Muni Bond ETFScore 71

Our read on each fund

ETF.net Research

IBMRAiShares iBonds Dec 2029 Term Muni Bond ETF

IBMTAiShares iBonds Dec 2031 Term Muni Bond ETF

In short

IBMR A muni ladder rung in one ticker: it holds investment-grade municipal bonds maturing in 2029, tracks an AMT-free index, and pays monthly. Bond-style term structure, ETF plumbing.

IBMT No data

Stated mandate

IBMR The fund seeks to track an index of investment-grade municipal bonds that mature in 2029.

IBMT No data

Why people hold it

IBMR Charges 0.10% a year, right at the median for target-maturity bond funds, and the iBonds lineup is built so maturity years stack into a ladder.
Spreads across more than a thousand investment-grade munis, so one issuer's trouble barely moves the fund.
Follows an AMT-free index, screening out bonds whose income can trip the alternative minimum tax.
Pays monthly, matching how muni income is usually spent, and holds a well-built portfolio for its category.

IBMT No data

Worth knowing

IBMR Munis are the tax-advantaged lane. For the same 2029 rung in taxable bonds, iShares also runs IBDU (corporate) and IBTJ (Treasury).
The index is callable-adjusted: plenty of munis can be redeemed early by their issuers, so the mix heading into the term date can shift.
It is a fund, not a single bond. Shares trade at market prices and move with rates along the way, and the end payout is whatever the bonds deliver.

IBMT No data

Full IBMR profile⁠

Full IBMT profile⁠

IBMR vs IBMT Holdings

How IBMR and IBMT differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Sector8 Sectors96.6%
Asset classFixed Income100%
Countryby domicile100%

Sector

Sector weights in IBMR and IBMT, widest gap first
Sector	More in IBMRMore in IBMT	IBMR	IBMT
State Tax-Backed	IBMT +2.3 points	25.3%	27.6%
School Districts	IBMR +1.8 points	14.4%	12.6%
Transportation	IBMR +1.0 points	10.0%	9.0%
Local Tax-Backed	IBMT +0.9 points	24.0%	24.9%
Prerefund/Escrow	IBMR +0.3 points	0.6%	0.3%
Education	IBMR +0.3 points	8.2%	7.9%
Utility	IBMT +0.2 points	17.5%	17.7%
Corporate Muni	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in IBMR and IBMT, widest gap first
Country	More in IBMRMore in IBMT	IBMR	IBMT
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

IBMR4.8%
IBMT5.6%

Securities held

IBMR1,324
IBMT1,265

Asset class

IBMR: Fixed Income
IBMT: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. IBMR holds 1,324 securities, IBMT 1,265.

All 2,069 IBMR holdings⁠All 1,799 IBMT 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.

IBMR vs IBMT Cost

Same expense ratio

$2,106

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

IBMR 0.10%
$2,106
IBMT 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

IBMR 0.10%
IBMT 0.10%

Year by year

Year	IBMR	IBMT
10	$183	$183
20	$717	$717
30	$2,106	$2,106

Expense ratio

0.10%IBMR
0.10%IBMT

IBMR0.10%IBMT0.10%

0.10%0.20%

Middle half of Defined-Maturity Municipal funds
Median 0.18%

IBMR cheapest of 32 funds

IBMT cheapest of 32 funds

IBMR vs IBMT Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IBMR 2.54%, better; IBMT 2.42%
Payout (12M): IBMR $0.64; IBMT $0.62
Last payment: IBMR $0.05; IBMT $0.05
Ex-dividend: IBMR Oct 1, 2026; IBMT Oct 1, 2026
Paid on: IBMR Oct 6, 2026; IBMT Oct 6, 2026
Frequency: IBMR Monthly; IBMT Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

IBMRMonthly · 40 paymentsAll IBMR payments⁠

IBMTMonthly · 18 paymentsAll IBMT payments⁠

IBMR vs IBMT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IBMR 4.4%IBMT 4.8%since Apr 2025
Return per unit of riskSharpe ratio, 3 years: IBMR 0.02IBMT −0.10since Apr 2025
Worst fallMax drawdown, 5 years: IBMR −4.8%since May 2023IBMT −5.9%since Mar 2025
Market sensitivityBeta, 5 years: IBMR 0.75IBMT 0.14; Market = 1

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