ACCBX vs. TLT
ACCBX (Invesco Corporate Bond Fund) and TLT (iShares 20+ Year Treasury Bond ETF) are both funds - ACCBX is a Corporate Bonds fund managed by Invesco, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Over the past 10 years, ACCBX returned 2.46%/yr vs -2.38%/yr for TLT. Their 0.78 correlation means they have sometimes moved together and sometimes differently. ACCBX charges 0.72%/yr vs 0.15%/yr for TLT.
Performance
ACCBX vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, ACCBX achieves a -1.24% return, which is significantly higher than TLT's -3.49% return. Over the past 10 years, ACCBX has outperformed TLT with an annualized return of 2.46%, while TLT has yielded a comparatively lower -2.38% annualized return.
ACCBX
- 1D
- 0.16%
- 1M
- -1.94%
- 6M
- -1.48%
- YTD
- -1.24%
- 1Y
- 1.63%
- 3Y*
- 4.20%
- 5Y*
- -0.85%
- 10Y*
- 2.46%
- ALL TIME*
- 2.85%
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 |
ACCBX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ACCBX Invesco Corporate Bond Fund | -1.24% | 7.34% | 2.87% | 7.01% | -16.72% | 0.31% | 11.43% | 15.78% | -4.13% | 7.27% |
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 ACCBX and TLT is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | 0.78 |
The correlation between ACCBX and TLT has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.
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Return for Risk
ACCBX vs. TLT — Risk / Return Rank
ACCBX
TLT
ACCBX vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Corporate Bond Fund (ACCBX) 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.
| ACCBX | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.99 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | -0.14 | +0.88 |
| Martin ratioReturn relative to average drawdown | 2.20 | -0.30 | +2.50 |
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Drawdowns
ACCBX vs. TLT - Drawdown Comparison
The maximum ACCBX drawdown since its inception was -45.26%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for ACCBX and TLT.
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Drawdown Indicators
| ACCBX | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.26% | -48.35% | +3.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.46% | -7.74% | +4.28% |
Max Drawdown (3Y)Largest decline over 3 years | -5.69% | -14.79% | +9.10% |
Max Drawdown (5Y)Largest decline over 5 years | -23.59% | -43.70% | +20.11% |
Max Drawdown (10Y)Largest decline over 10 years | -23.59% | -48.35% | +24.76% |
Current DrawdownCurrent decline from peak | -4.52% | -42.36% | +37.84% |
Average DrawdownAverage peak-to-trough decline | -10.84% | -13.99% | +3.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 3.57% | -2.41% |
Volatility
ACCBX vs. TLT - Volatility Comparison
The current volatility for Invesco Corporate Bond Fund (ACCBX) is 1.10%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.46%. This indicates that ACCBX experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACCBX | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 2.46% | -1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 3.22% | 6.85% | -3.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 9.32% | -5.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.29% | 15.74% | -9.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.73% | 14.83% | -9.10% |
ACCBX vs. TLT - Expense Ratio Comparison
ACCBX has a 0.72% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
ACCBX vs. TLT - Dividend Comparison
ACCBX's dividend yield for the trailing twelve months is around 4.68%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACCBX Invesco Corporate Bond Fund | 4.68% | 4.95% | 4.63% | 3.78% | 3.84% | 4.91% | 5.98% | 3.67% | 4.22% | 4.13% | 3.64% | 3.88% |
TLT iShares 20+ Year Treasury Bond ETF | 4.34% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
ACCBX and TLT have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.46%) compared to ACCBX (1.10%). In terms of maximum drawdown, ACCBX dropped -45.26% vs TLT's -48.35%.
ACCBX currently has the higher Sharpe Ratio (0.64 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.
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