IBMT vs SPYC
Comparison between ISHARES IBONDS DEC 2031 TERM MUNI BOND ETF (IBMT, ETF) and SIMPLIFY US EQUITY PLUS CONVEXITY ETF (SPYC, ETF).
IBMT vs SPYC - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
IBMT
$112M
SPYC
$112M
Expense Ratio
Winner
IBMT
0.18%
SPYC
0.53%
Max Drawdown
Winner
IBMT
3.72%
SPYC
29.33%
Sharpe Ratio
IBMT
-0.02
Winner
SPYC
0.45
5Y Beta
Winner
IBMT
0.03
SPYC
1.23
5Y Dividends CAGR
IBMT
N/A
SPYC
35.89%
IBMT vs SPYC - Holdings Comparison
IBMT and SPYC have 1 common holdings. Overlap is -0.29%
IBMT's top 25 holdings weight is 21.74%. SPYC's top 25 holdings weight is 100.56%.
| Rank | IBMT | SPYC |
|---|---|---|
| #1 | NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5% (n/a) - 1.66% | ISHARES CORE S&P 500 ETF (IVV) - 99.12% |
| #2 | n/a (n/a) - 1.41% | SPXW US 12/19/25 P5700 (n/a) - 0.44% |
| #3 | WASHINGTON ST 5% (n/a) - 1.28% | SPXW US 10/17/25 C6725 (n/a) - 0.18% |
| #4 | CALIFORNIA ST 5% (n/a) - 1.20% | DREYFUS TRSY OBLIG CASH M (n/a) - 0.17% |
| #5 | MARYLAND ST 5% (n/a) - 1.16% | SPXW US 11/21/25 P5500 (n/a) - 0.14% |
| #6 | NEW YORK N Y 5% (n/a) - 1.12% | SPXW US 10/08/25 C6690 (n/a) - 0.11% |
| #7 | CONNECTICUT ST SPL TAX OBLIG REV 5% (n/a) - 0.96% | SPXW US 10/03/25 C6670 (n/a) - 0.11% |
| #8 | NEW JERSEY ST 4% (n/a) - 0.94% | SPXW US 10/10/25 C6725 (n/a) - 0.10% |
| #9 | NEW JERSEY ST TRANSN TR FD AUTH 5% (n/a) - 0.94% | SPXW US 10/08/25 P6350 (n/a) - 0.06% |
| #10 | GEORGIA ST 4% (n/a) - 0.93% | SPXW US 10/06/25 P6400 (n/a) - 0.03% |
| #11 | n/a (n/a) - 0.90% | SPXW US 10/03/25 P6360 (n/a) - 0.02% |
| #12 | LOS ANGELES CALIF DEPT WTR & PWR REV 5% (n/a) - 0.86% | SPXW US 10/17/25 P5350 (n/a) - 0.02% |
| #13 | CALIFORNIA ST PUB WKS BRD LEASE REV 5% (n/a) - 0.83% | GLD US 10/10/25 P324 (n/a) - 0.01% |
| #14 | OHIO ST 5% (n/a) - 0.73% | GLD US 10/10/25 P328 (n/a) - 0.01% |
| #15 | UNIVERSITY CALIF REVS 5% (n/a) - 0.72% | RUTW US 10/10/25 P2230 (n/a) - 0.01% |
| #16 | TEXAS WTR DEV BRD REV 5% (n/a) - 0.71% | RUTW US 10/10/25 P2215 (n/a) - 0.01% |
| #17 | PENNSYLVANIA ST TPK COMMN TPK REV 5% (n/a) - 0.66% | RUTW US 10/08/25 P2240 (n/a) - 0.01% |
| #18 | ILLINOIS ST 5% (n/a) - 0.63% | NDXP US 10/10/25 P22550 (n/a) - 0.01% |
| #19 | HONOLULU HAWAII CITY & CNTY 5% (n/a) - 0.62% | SPXW US 10/10/25 P6140 (n/a) - 0.01% |
| #20 | CONNECTICUT ST 5% (n/a) - 0.61% | SPXW US 10/10/25 P6100 (n/a) - 0.01% |
| #21 | MASSACHUSETTS ST 5% (n/a) - 0.60% | SPXW US 10/06/25 C6790 (n/a) - 0.01% |
| #22 | PENNSYLVANIA ST 5% (n/a) - 0.59% | STONEX CASH (n/a) - 0.00% |
| #23 | n/a (n/a) - 0.57% | SPXW US 10/01/25 C6775 (n/a) - 0.00% |
| #24 | KENTUCKY ST PPTY & BLDGS COMMN REVS 5% (n/a) - 0.56% | SPXW US 10/17/25 P5050 (n/a) - -0.01% |
| #25 | UNIVERSITY UTAH UNIV REVS 5% (n/a) - 0.55% | RUTW US 10/08/25 P2340 (n/a) - -0.02% |
| Total Holdings | 520 | 34 |
IBMT vs SPYC - Historical Returns
Returns include dividend reinvestment.
1M
IBMT
-1.10%
Winner
SPYC
-0.38%
3M
IBMT
+0.13%
Winner
SPYC
+4.20%
6M
IBMT
-0.61%
Winner
SPYC
+4.93%
1Y
IBMT
+3.78%
Winner
SPYC
+8.94%
5Y(CAGR)
IBMT
N/A
SPYC
+8.38%
Max(CAGR)
IBMT
+5.53%
Winner
SPYC
+11.83%
IBMT vs SPYC - Annual Returns (2020 - 2026)
Returns include dividend reinvestment.
| Year | IBMT | SPYC |
|---|---|---|
| 2026 | +0.11% | +5.00% |
| 2025 | +7.23% | +16.03% |
| 2024 | N/A | +23.46% |
| 2023 | N/A | +24.21% |
| 2022 | N/A | -25.63% |
| 2021 | N/A | +31.23% |
| 2020 | N/A | +9.10% |
IBMT vs SPYC Drawdown Comparison
The maximum drawdown for IBMT was -3.18%, occurring on Apr 11, 2025. Recovery took 47 trading sessions.
The maximum drawdown for SPYC was -28.51%, occurring on Oct 14, 2022. Recovery took 547 trading sessions.
The current IBMT drawdown is -1.69%. The current SPYC drawdown is -3.39%.
| Rank | IBMT | SPYC |
|---|---|---|
| #1 | -3.18% Apr 4, 2025 - Jun 12, 2025 | -28.51% Dec 27, 2021 - Mar 1, 2024 |
| #2 | -3.09% Feb 26, 2026 - Mar 26, 2026 | -22.81% Dec 4, 2024 - May 16, 2025 |
| #3 | -0.96% Sep 18, 2025 - Oct 13, 2025 | -13.47% Oct 28, 2025 - May 6, 2026 |
| #4 | -0.52% Oct 13, 2025 - Dec 3, 2025 | -11.39% Jul 16, 2024 - Nov 6, 2024 |
| #5 | -0.35% Jul 9, 2025 - Aug 1, 2025 | -7.96% Oct 12, 2020 - Nov 9, 2020 |
| #6 | -0.35% Dec 3, 2025 - Dec 24, 2025 | -7.24% Mar 28, 2024 - May 15, 2024 |
| #7 | -0.27% Jan 9, 2026 - Jan 28, 2026 | -6.09% Sep 3, 2021 - Oct 25, 2021 |
| #8 | -0.24% Mar 26, 2025 - Mar 28, 2025 | -5.73% Jul 3, 2025 - Sep 11, 2025 |
| #9 | -0.23% Jan 28, 2026 - Feb 3, 2026 | -5.71% Sep 4, 2020 - Oct 7, 2020 |
| #10 | -0.22% Feb 17, 2026 - Feb 26, 2026 | -5.09% Feb 17, 2021 - Mar 15, 2021 |
| #11 | -0.21% Sep 9, 2025 - Sep 11, 2025 | -4.91% Apr 27, 2021 - Jun 28, 2021 |
| #12 | -0.18% Aug 12, 2025 - Aug 22, 2025 | -4.52% Jun 1, 2026 - Jun 15, 2026 |
| #13 | -0.16% Jun 12, 2025 - Jun 16, 2025 | -4.46% May 19, 2025 - Jun 26, 2025 |
| #14 | -0.14% Sep 2, 2025 - Sep 4, 2025 | -4.25% Nov 18, 2021 - Dec 10, 2021 |
| #15 | -0.12% Aug 22, 2025 - Sep 2, 2025 | -4.22% Dec 10, 2021 - Dec 23, 2021 |
Correlation
Correlation between IBMT and SPYC is 0.84 which considered as a strong positive correlation - the stocks tend to move together.
0.84
-101
Dividend Comparison (2020 - 2026)
IBMT vs SPYC dividend yield comparison.
| Year | IBMT | SPYC |
|---|---|---|
| 2026 | 2.31% | 0.45% |
| 2025 | 2.98% | 0.89% |
| 2024 | 0.00% | 1.02% |
| 2023 | 0.00% | 1.76% |
| 2022 | 0.00% | 1.34% |
| 2021 | 0.00% | 1.01% |
| 2020 | 0.00% | 0.40% |
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