- ISIN
- VN000000TLH6
- CUSIP
- 464288653
- Issuer
- iShares
- Inception Date
- Jan 11, 2007
- Region
- North America (U.S.)
- Category
- Government Bonds, Long-Term Bond
- Leveraged
- 1x (No leverage)
- Index Tracked
- ICE U.S. Treasury 10-20 Year Bond Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $11B
Share Price Chart
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Performance
TLH Performance Chart
iShares 10-20 Year Treasury Bond ETF (TLH) is up 0.4% since the beginning of the year. TLH is currently trading at $100 per share. Investors who bought $1,000 worth of TLH shares 5 years ago would now be looking at an investment worth $819.
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Returns By Period
iShares 10-20 Year Treasury Bond ETF (TLH) has returned 0.37% so far this year and 5.76% over the past 12 months. Over the last ten years, TLH has returned -0.86% per year, falling short of the S&P 500 Index benchmark, which averaged 13.75% annually.
iShares 10-20 Year Treasury Bond ETF
- 1D
- 0.47%
- 1M
- 2.83%
- YTD
- 0.37%
- 6M
- 0.37%
- 1Y
- 5.76%
- 3Y*
- 0.90%
- 5Y*
- -3.92%
- 10Y*
- -0.86%
Benchmark (S&P 500 Index)
- 1D
- -0.57%
- 1M
- 1.39%
- YTD
- 9.73%
- 6M
- 10.46%
- 1Y
- 24.50%
- 3Y*
- 19.43%
- 5Y*
- 12.21%
- 10Y*
- 13.75%
TLH Monthly Returns History
Based on dividend-adjusted daily data since Jan 11, 2007, TLH's average daily return is +0.01%, while the average monthly return is +0.28%. At this rate, an investment would double in approximately 20.7 years.
Historically, 52% of months were positive and 48% were negative. The best month was Nov 2008 with a return of +11.8%, while the worst month was Apr 2022 at -7.8%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 7 months.
On a daily basis, TLH closed higher 52% of trading days. The best single day was Mar 16, 2020 with a return of +5.1%, while the worst single day was Mar 17, 2020 at -5.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.07% | 3.73% | -3.77% | -0.50% | 0.44% | 0.67% | 0.37% | ||||||
| 2025 | 0.72% | 4.62% | -0.51% | -0.72% | -2.53% | 2.26% | -0.74% | 0.81% | 2.43% | 1.16% | 0.60% | -1.61% | 6.47% |
| 2024 | -1.24% | -2.39% | 1.30% | -5.34% | 2.79% | 1.55% | 3.48% | 1.76% | 2.13% | -4.93% | 1.75% | -4.58% | -4.21% |
| 2023 | 6.20% | -4.66% | 5.15% | 0.40% | -2.61% | -0.18% | -1.90% | -2.17% | -6.46% | -4.01% | 8.17% | 7.39% | 4.03% |
| 2022 | -3.25% | -0.96% | -5.08% | -7.80% | -1.29% | -1.43% | 2.96% | -4.56% | -7.14% | -4.07% | 6.49% | -1.72% | -25.24% |
| 2021 | -2.97% | -5.26% | -4.05% | 1.92% | 0.06% | 3.18% | 3.33% | -0.21% | -2.56% | 0.65% | 2.17% | -1.32% | -5.38% |
Benchmark Metrics
iShares 10-20 Year Treasury Bond ETF has an annualized alpha of 5.23%, beta of -0.16, and R2 of 0.09 versus S&P 500 Index. Calculated based on daily prices since January 11, 2007.
- This ETF captured 5.39% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -9.24%) - a profile typical of hedging or uncorrelated assets.
- Beta of -0.16 may look defensive, but with R2 of 0.09 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.09 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 5.23%
- Beta
- -0.16
- R²
- 0.09
- Upside Capture
- 5.39%
- Downside Capture
- -9.24%
Expense Ratio
TLH has an expense ratio of 0.15%, which is considered low.
Return for Risk
Risk / Return Rank
TLH ranks 20 for risk / return — below 20% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares 10-20 Year Treasury Bond ETF (TLH) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TLH | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.36 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 2.71 | -1.82 |
| Martin ratioReturn relative to average drawdown | 2.35 | 12.15 | -9.81 |
Dividends
Dividend History
iShares 10-20 Year Treasury Bond ETF provided a 4.44% dividend yield over the last twelve months, with an annual payout of $4.45 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $4.45 | $4.24 | $4.26 | $4.14 | $3.01 | $2.22 | $4.21 | $3.32 | $2.89 | $2.49 | $2.54 | $2.86 |
Dividend yield | 4.44% | 4.17% | 4.28% | 3.83% | 2.78% | 1.50% | 2.65% | 2.31% | 2.17% | 1.83% | 1.91% | 2.13% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares 10-20 Year Treasury Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.38 | $0.34 | $0.39 | $0.36 | $0.41 | $1.88 | ||||||
| 2025 | $0.00 | $0.35 | $0.25 | $0.37 | $0.36 | $0.35 | $0.36 | $0.38 | $0.37 | $0.35 | $0.37 | $0.74 | $4.24 |
| 2024 | $0.00 | $0.36 | $0.33 | $0.36 | $0.35 | $0.36 | $0.35 | $0.35 | $0.37 | $0.36 | $0.37 | $0.71 | $4.26 |
| 2023 | $0.00 | $0.33 | $0.30 | $0.37 | $0.33 | $0.34 | $0.33 | $0.40 | $0.33 | $0.36 | $0.33 | $0.72 | $4.14 |
| 2022 | $0.00 | $0.18 | $0.20 | $0.19 | $0.23 | $0.22 | $0.24 | $0.23 | $0.29 | $0.30 | $0.26 | $0.66 | $3.01 |
| 2021 | $0.00 | $0.16 | $0.14 | $0.16 | $0.17 | $0.18 | $0.19 | $0.20 | $0.20 | $0.20 | $0.21 | $0.42 | $2.22 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares 10-20 Year Treasury Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares 10-20 Year Treasury Bond ETF was 41.14%, occurring on Oct 19, 2023. The portfolio has not yet recovered.
The current iShares 10-20 Year Treasury Bond ETF drawdown is 29.20%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 bear market2023 | -41.14%Oct 2023 | 3y 2mo | — | 5y 10moAug 2020 - now |
Financial crisis2007–2009 | -14.27%Jun 2009 | 5mo 11d | 1y 20d | 1y 6moDec 2008 - Jun 2010 |
COVID crash2020 | -11.83%Mar 2020 | 8d | 4mo 7d | 4mo 15dMar 2020 - Jul 2020 |
2013 correction2013 | -11.81%Sep 2013 | 1y 1mo | 1y 1mo | 2y 2moJul 2012 - Oct 2014 |
Rate-hike selloffLate 2018 | -11.56%Oct 2018 | 2y 2mo | 7mo 24d | 2y 10moJul 2016 - May 2019 |
Drawdown Indicators
| TLH | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.14% | -56.78% | +15.64% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -9.10% | +2.60% |
Max Drawdown (3Y)Largest decline over 3 years | -15.35% | -18.90% | +3.55% |
Max Drawdown (5Y)Largest decline over 5 years | -35.41% | -25.43% | -9.98% |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | -33.92% | -7.22% |
Current DrawdownCurrent decline from peak | -29.20% | -1.29% | -27.91% |
Average DrawdownAverage peak-to-trough decline | -10.79% | -10.72% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 2.02% | +0.44% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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