^TYX vs. TLT
^TYX (Treasury Yield 30 Years) is an index, while TLT (iShares 20+ Year Treasury Bond ETF) is Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Over the past 10 years, ^TYX returned 8.72%/yr vs -2.38%/yr for TLT. Their -0.94 correlation means they have often moved in opposite directions in the past.
Performance
^TYX vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ^TYX achieves a 8.99% return, which is significantly higher than TLT's -3.49% return. Over the past 10 years, ^TYX has outperformed TLT with an annualized return of 8.72%, while TLT has yielded a comparatively lower -2.38% annualized return.
^TYX
- 1D
- 1.29%
- 1M
- 5.82%
- 6M
- 8.27%
- YTD
- 8.99%
- 1Y
- 9.74%
- 3Y*
- 8.72%
- 5Y*
- 22.70%
- 10Y*
- 8.72%
- ALL TIME*
- -0.76%
TLT
- 1D
- -0.66%
- 1M
- -3.81%
- 6M
- -3.46%
- YTD
- -3.49%
- 1Y
- -2.45%
- 3Y*
- -1.80%
- 5Y*
- -8.18%
- 10Y*
- -2.38%
- ALL TIME*
- 3.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $2.33B | $2.02B | $2.19B |
^TYX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^TYX Treasury Yield 30 Years | 8.99% | 1.13% | 19.08% | 1.11% | 108.66% | 15.74% | -31.10% | -20.89% | 10.26% | -10.58% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between ^TYX and TLT is -0.95, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.95 |
Correlation (3Y) Balances recent behavior with more history. | -0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.94 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.93 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.94 |
The correlation between ^TYX and TLT has been stable across timeframes, ranging from -0.95 to -0.93 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
^TYX vs. TLT — Risk / Return Rank
^TYX
TLT
^TYX vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 30 Years (^TYX) 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.
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.
| ^TYX | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.99 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | -0.14 | +1.06 |
| Martin ratioReturn relative to average drawdown | 2.05 | -0.30 | +2.35 |
Loading charts...
Drawdowns
^TYX vs. TLT - Drawdown Comparison
The maximum ^TYX drawdown since its inception was -93.84%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for ^TYX and TLT.
Loading charts...
Drawdown Indicators
| ^TYX | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.84% | -48.35% | -45.49% |
Max Drawdown (1Y)Largest decline over 1 year | -8.69% | -7.74% | -0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -14.79% | -8.06% |
Max Drawdown (5Y)Largest decline over 5 years | -22.85% | -43.70% | +20.85% |
Max Drawdown (10Y)Largest decline over 10 years | -72.86% | -48.35% | -24.51% |
Current DrawdownCurrent decline from peak | -65.32% | -42.36% | -22.96% |
Average DrawdownAverage peak-to-trough decline | -56.73% | -13.99% | -42.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.90% | 3.57% | +0.33% |
Volatility
^TYX vs. TLT - Volatility Comparison
Treasury Yield 30 Years (^TYX) has a higher volatility of 2.73% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.46%. This indicates that ^TYX'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.
Loading charts...
Volatility by Period
| ^TYX | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 2.46% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 8.22% | 6.85% | +1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.70% | 9.32% | +2.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.59% | 15.74% | +8.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.33% | 14.83% | +18.50% |
Frequently Asked Questions
^TYX and TLT have a correlation of -0.95, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^TYX has higher volatility (2.73%) compared to TLT (2.46%). In terms of maximum drawdown, ^TYX dropped -93.84% vs TLT's -48.35%.
^TYX currently has the higher Sharpe Ratio (0.68 vs -0.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for ^TYX and TLT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer