BBBL vs. TLT
BBBL (Bondbloxx BBB Rated 10+ Year Corporate Bond ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - BBBL is a Long-Term Bond fund tracking the Bloomberg U.S. Corporate BBB 10+ Year Index - Benchmark TR Gross, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past year, BBBL returned 0.55% vs -2.12% for TLT. Their correlation of 0.91 means they have usually moved in the same direction. BBBL charges 0.19%/yr vs 0.15%/yr for TLT.
Performance
BBBL vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, BBBL achieves a -1.75% return, which is significantly higher than TLT's -3.18% return.
BBBL
- 1D
- 0.57%
- 1M
- -3.26%
- 6M
- -2.49%
- YTD
- -1.75%
- 1Y
- 0.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.39%
TLT
- 1D
- 0.33%
- 1M
- -3.49%
- 6M
- -2.86%
- YTD
- -3.18%
- 1Y
- -2.12%
- 3Y*
- -1.15%
- 5Y*
- -8.33%
- 10Y*
- -2.33%
- ALL TIME*
- 3.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $37.44K | $88.79K | $60.52K | |
| $2.39B | $2.06B | $2.20B |
BBBL vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BBBL Bondbloxx BBB Rated 10+ Year Corporate Bond ETF | -1.75% | 7.02% | 0.93% |
TLT iShares 20+ Year Treasury Bond ETF | -3.18% | 4.25% | -2.61% |
Correlation
The correlation between BBBL and TLT is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2024 | 0.91 |
The correlation between BBBL and TLT has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.
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Return for Risk
BBBL vs. TLT — Risk / Return Rank
BBBL
TLT
BBBL vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL) 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.
| BBBL | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.97 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | -0.28 | +0.38 |
| Martin ratioReturn relative to average drawdown | 0.22 | -0.59 | +0.81 |
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Drawdowns
BBBL vs. TLT - Drawdown Comparison
The maximum BBBL drawdown since its inception was -9.43%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for BBBL and TLT.
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Drawdown Indicators
| BBBL | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.43% | -48.35% | +38.92% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -7.74% | +2.29% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.79% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -4.77% | -42.17% | +37.40% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -14.00% | +10.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 3.60% | -1.13% |
Volatility
BBBL vs. TLT - Volatility Comparison
The current volatility for Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL) is 2.09%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.51%. This indicates that BBBL 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
| BBBL | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 2.51% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 5.97% | 6.84% | -0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.64% | 9.24% | -1.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.66% | 15.74% | -6.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.66% | 14.83% | -5.17% |
BBBL vs. TLT - Expense Ratio Comparison
BBBL has a 0.19% 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
BBBL vs. TLT - Dividend Comparison
BBBL's dividend yield for the trailing twelve months is around 5.92%, more than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBBL Bondbloxx BBB Rated 10+ Year Corporate Bond ETF | 5.92% | 5.77% | 5.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.75% | 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
BBBL and TLT have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.51%) compared to BBBL (2.09%). In terms of maximum drawdown, BBBL dropped -9.43% vs TLT's -48.35%.
On 1-year performance, BBBL leads with 0.55% vs -2.12% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, BBBL has been the lower-risk option at 2.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BBBL has performed better with a 0.55% return vs -2.12%. 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 0.19% for BBBL.
BBBL has the higher dividend yield at 5.92%, compared with 4.75% for TLT.
BBBL is categorized as Long-Term Bond, while TLT is Government Bonds. BBBL tracks Bloomberg U.S. Corporate BBB 10+ Year Index - Benchmark TR Gross, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: BondBloxx and iShares. Their fees differ too: 0.19% for BBBL and 0.15% for TLT.
BBBL currently has the higher Sharpe Ratio (0.07 vs -0.23), 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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