^SOX vs. TLT

Last updated Apr 2, 2026

Compare and contrast key facts about PHLX Semiconductor Index (^SOX) and iShares 20+ Year Treasury Bond ETF (TLT).

TLT is a passively managed fund by iShares that tracks the performance of the ICE U.S. Treasury 20+ Year Bond Index. It was launched on Jul 22, 2002.

Performance

^SOX vs. TLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PHLX Semiconductor Index (^SOX) and iShares 20+ Year Treasury Bond ETF (TLT). The values are adjusted to include any dividend payments, if applicable.

^SOX vs. TLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^SOX PHLX Semiconductor Index	10.15%	42.23%	19.27%	64.90%	-35.83%	41.16%	51.14%	60.12%	-7.81%	38.23%
TLT iShares 20+ Year Treasury Bond ETF	0.07%	4.25%	-8.05%	2.77%	-31.23%	-4.60%	18.15%	14.12%	-1.61%	9.18%

Returns By Period

In the year-to-date period, ^SOX achieves a 10.15% return, which is significantly higher than TLT's 0.07% return. Over the past 10 years, ^SOX has outperformed TLT with an annualized return of 27.61%, while TLT has yielded a comparatively lower -1.39% annualized return.

^SOX

• 1D: 2.82%
• 1M: -4.12%
• YTD: 10.15%
• 6M: 20.03%
• 1Y: 82.19%
• 3Y*: 34.16%
• 5Y*: 19.22%
• 10Y*: 27.61%

TLT

• 1D: -0.10%
• 1M: -3.35%
• YTD: 0.07%
• 6M: -1.23%
• 1Y: -1.44%
• 3Y*: -2.81%
• 5Y*: -5.87%
• 10Y*: -1.39%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

^SOX vs. TLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^SOX

^SOX Risk / Return Rank: 96
^SOX Sharpe Ratio Rank: 95
^SOX Sortino Ratio Rank: 95
^SOX Omega Ratio Rank: 94
^SOX Calmar Ratio Rank: 97
^SOX Martin Ratio Rank: 97

TLT

TLT Risk / Return Rank: 9
TLT Sharpe Ratio Rank: 9
TLT Sortino Ratio Rank: 8
TLT Omega Ratio Rank: 8
TLT Calmar Ratio Rank: 11
TLT Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^SOX vs. TLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PHLX Semiconductor Index (^SOX) and iShares 20+ Year Treasury Bond ETF (TLT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	^SOX	TLT	Difference
Sharpe ratio Return per unit of total volatility	2.05	-0.13	+2.18
Sortino ratio Return per unit of downside risk	2.65	-0.10	+2.75
Omega ratio Gain probability vs. loss probability	1.38	0.99	+0.39
Calmar ratio Return relative to maximum drawdown	4.72	-0.06	+4.78
Martin ratio Return relative to average drawdown	17.25	-0.13	+17.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^SOX vs. TLT - Sharpe Ratio Comparison

The current ^SOX Sharpe Ratio is 2.05, which is higher than the TLT Sharpe Ratio of -0.13. The chart below compares the historical Sharpe Ratios of ^SOX and TLT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	^SOX	TLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	-0.13	+2.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	-0.37	+0.91
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	-0.09	+0.92
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.26	+0.11

Correlation

The correlation between ^SOX and TLT is -0.22. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Drawdowns

^SOX vs. TLT - Drawdown Comparison

The maximum ^SOX drawdown since its inception was -87.15%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for ^SOX and TLT.

Drawdown Indicators

	^SOX	TLT	Difference
Max Drawdown Largest peak-to-trough decline	-87.15%	-48.35%	-38.80%
Max Drawdown (1Y) Largest decline over 1 year	-17.54%	-9.23%	-8.31%
Max Drawdown (5Y) Largest decline over 5 years	-46.47%	-43.70%	-2.77%
Max Drawdown (10Y) Largest decline over 10 years	-46.47%	-48.35%	+1.88%
Current Drawdown Current decline from peak	-7.86%	-40.23%	+32.37%
Average Drawdown Average peak-to-trough decline	-39.68%	-13.62%	-26.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	4.39%	+0.40%

Volatility

^SOX vs. TLT - Volatility Comparison

PHLX Semiconductor Index (^SOX) has a higher volatility of 12.76% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 3.71%. This indicates that ^SOX's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^SOX	TLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.76%	3.71%	+9.05%
Volatility (6M) Calculated over the trailing 6-month period	26.48%	6.61%	+19.87%
Volatility (1Y) Calculated over the trailing 1-year period	40.29%	11.40%	+28.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.89%	15.88%	+20.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.48%	14.93%	+18.55%