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AOM vs. TLT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AOM vs. TLT

Last updated Jun 4, 2026

AOM (iShares Core Moderate Allocation ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - AOM is a Diversified Portfolio fund tracking the S&P Target Risk Moderate, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 10 years, AOM returned 6.22%/yr vs -1.66%/yr for TLT. At a 0.01 correlation, their price movements are largely independent. AOM charges 0.25%/yr vs 0.15%/yr for TLT.

Performance

AOM vs. TLT - Performance Comparison

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

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Returns By Period

In the year-to-date period, AOM achieves a 5.00% return, which is significantly higher than TLT's -0.27% return. Over the past 10 years, AOM has outperformed TLT with an annualized return of 6.22%, while TLT has yielded a comparatively lower -1.66% annualized return.

AOM

1D
-0.46%
1M
2.13%
YTD
5.00%
6M
5.31%
1Y
14.51%
3Y*
10.87%
5Y*
4.80%
10Y*
6.22%

TLT

1D
-0.40%
1M
0.81%
YTD
-0.27%
6M
-2.02%
1Y
4.93%
3Y*
-1.80%
5Y*
-6.31%
10Y*
-1.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AOM vs. TLT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
AOM
iShares Core Moderate Allocation ETF		5.00%13.28%7.95%12.38%-14.54%6.93%10.02%15.58%-3.88%11.63%
TLT
iShares 20+ Year Treasury Bond ETF		-0.27%4.25%-8.05%2.77%-31.23%-4.60%18.15%14.12%-1.61%9.18%

Correlation

The correlation between AOM and TLT is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.48

Correlation (3Y)
Calculated over the trailing 3-year period

0.52

Correlation (5Y)
Calculated over the trailing 5-year period

0.42

Correlation (10Y)
Calculated over the trailing 10-year period

0.22

Correlation (All Time)
Calculated using the full available price history since Nov 12, 2008

0.01

Over the past year, AOM and TLT have become more correlated (0.48) than their long-term average of 0.01, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core Moderate Allocation ETF

iShares 20+ Year Treasury Bond ETF

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Often compared with TLT:
TLT vs. SPYTLT vs. IEFTLT vs. TMFTLT vs. BNDTLT vs. VGLTTLT vs. TLTWTLT vs. EDV

Return for Risk

AOM vs. TLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AOM
AOM Risk / Return Rank: 6565
Overall Rank
AOM Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
AOM Sortino Ratio Rank: 6969
Sortino Ratio Rank
AOM Omega Ratio Rank: 6767
Omega Ratio Rank
AOM Calmar Ratio Rank: 5757
Calmar Ratio Rank
AOM Martin Ratio Rank: 6767
Martin Ratio Rank
TLT
TLT Risk / Return Rank: 1616
Overall Rank
TLT Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
TLT Sortino Ratio Rank: 1515
Sortino Ratio Rank
TLT Omega Ratio Rank: 1515
Omega Ratio Rank
TLT Calmar Ratio Rank: 1717
Calmar Ratio Rank
TLT Martin Ratio Rank: 1616
Martin Ratio Rank
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.

AOM vs. TLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Moderate Allocation ETF (AOM) 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.

AOMTLTDifference
Sharpe ratioReturn per unit of total volatility
2.23
0.51

+1.72

Sortino ratioReturn per unit of downside risk
3.22
0.80

+2.42

Omega ratioGain probability vs. loss probability

1.42

1.09

+0.33

Calmar ratioReturn relative to maximum drawdown

2.85

0.65

+2.20

Martin ratioReturn relative to average drawdown

12.45

1.63

+10.82

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AOM vs. TLT - Sharpe Ratio Comparison

The current AOM Sharpe Ratio is 2.23, which is higher than the TLT Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of AOM and TLT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

AOMTLTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.23

0.51

+1.72

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.59

-0.40

+0.99

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

-0.11

+0.90

Sharpe Ratio (All Time)

Calculated using the full available price history

0.69

0.26

+0.44

Drawdowns

AOM vs. TLT - Drawdown Comparison

The maximum AOM drawdown since its inception was -19.96%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for AOM and TLT.

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Drawdown Indicators

AOMTLTDifference

Max Drawdown

Largest peak-to-trough decline

-19.96%

-48.35%

+28.39%

Max Drawdown (1Y)

Largest decline over 1 year

-5.11%

-7.58%

+2.47%

Max Drawdown (3Y)

Largest decline over 3 years

-6.85%

-19.18%

+12.33%

Max Drawdown (5Y)

Largest decline over 5 years

-19.96%

-43.70%

+23.74%

Max Drawdown (10Y)

Largest decline over 10 years

-19.96%

-48.35%

+28.39%

Current Drawdown

Current decline from peak

-0.46%

-40.44%

+39.98%

Average Drawdown

Average peak-to-trough decline

-2.70%

-13.82%

+11.12%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.17%

3.04%

-1.87%

Volatility

AOM vs. TLT - Volatility Comparison

The current volatility for iShares Core Moderate Allocation ETF (AOM) is 2.17%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.76%. This indicates that AOM 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

AOMTLTDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.17%

2.76%

-0.59%

Volatility (6M)

Calculated over the trailing 6-month period

5.22%

6.50%

-1.28%

Volatility (1Y)

Calculated over the trailing 1-year period

6.55%

9.77%

-3.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.14%

15.87%

-7.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.93%

14.91%

-6.98%

AOM vs. TLT - Expense Ratio Comparison

AOM has a 0.25% expense ratio, which is higher than TLT's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AOM vs. TLT - Dividend Comparison

AOM's dividend yield for the trailing twelve months is around 2.98%, less than TLT's 4.59% yield.

PositionTTM20252024202320222021202020192018201720162015
AOM
iShares Core Moderate Allocation ETF		2.98%2.98%3.10%2.79%2.27%1.56%2.02%2.66%2.53%3.31%2.14%1.98%
TLT
iShares 20+ Year Treasury Bond ETF		4.59%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

AOM and TLT have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TLT has higher volatility (2.76%) compared to AOM (2.17%). In terms of maximum drawdown, AOM dropped -19.96% vs TLT's -48.35%.

On 10-year performance, AOM leads with 6.22% vs -1.66% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, AOM has been the lower-risk option at 2.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, AOM has performed better with a 6.22% return vs -1.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

TLT is cheaper with a 0.15% expense ratio, compared with 0.25% for AOM.

TLT has the higher dividend yield at 4.59%, compared with 2.98% for AOM.

AOM is categorized as Diversified Portfolio, while TLT is Government Bonds. AOM tracks S&P Target Risk Moderate, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.25% for AOM and 0.15% for TLT.

AOM currently has the higher Sharpe Ratio (2.23 vs 0.51), 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.

Portfolio Optimizer

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