BKF vs. TLT
BKF (iShares MSCI BRIC ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - BKF is a Emerging Markets Equities fund tracking the MSCI BRIC Index, 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, BKF returned 4.28%/yr vs -2.15%/yr for TLT. At a correlation of -0.22, they often move in opposite directions. BKF charges 0.69%/yr vs 0.15%/yr for TLT.
Performance
BKF vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, BKF achieves a -8.67% return, which is significantly lower than TLT's -1.35% return. Over the past 10 years, BKF has outperformed TLT with an annualized return of 4.28%, while TLT has yielded a comparatively lower -2.15% annualized return.
BKF
- 1D
- 1.37%
- 1M
- 0.10%
- 6M
- -11.29%
- YTD
- -8.67%
- 1Y
- -2.04%
- 3Y*
- 6.12%
- 5Y*
- -3.51%
- 10Y*
- 4.28%
TLT
- 1D
- 0.13%
- 1M
- -1.61%
- 6M
- -2.09%
- YTD
- -1.35%
- 1Y
- 2.69%
- 3Y*
- -2.02%
- 5Y*
- -7.65%
- 10Y*
- -2.15%
BKF vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BKF iShares MSCI BRIC ETF | -8.67% | 22.30% | 9.24% | 1.27% | -21.78% | -11.87% | 16.52% | 22.93% | -13.80% | 41.80% |
TLT iShares 20+ Year Treasury Bond ETF | -1.35% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between BKF and TLT is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2007 | -0.22 |
The correlation between BKF and TLT shifts across timeframes, from -0.22 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BKF vs. TLT — Risk / Return Rank
BKF
TLT
BKF vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI BRIC ETF (BKF) 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.
| BKF | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.05 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 0.36 | -0.49 |
| Martin ratioReturn relative to average drawdown | -0.30 | 0.82 | -1.13 |
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Drawdowns
BKF vs. TLT - Drawdown Comparison
The maximum BKF drawdown since its inception was -70.29%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for BKF and TLT.
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Drawdown Indicators
| BKF | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.29% | -48.35% | -21.94% |
Max Drawdown (1Y)Largest decline over 1 year | -15.45% | -7.58% | -7.87% |
Max Drawdown (3Y)Largest decline over 3 years | -18.60% | -18.88% | +0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -41.97% | -43.70% | +1.73% |
Max Drawdown (10Y)Largest decline over 10 years | -49.20% | -48.35% | -0.85% |
Current DrawdownCurrent decline from peak | -26.03% | -41.08% | +15.05% |
Average DrawdownAverage peak-to-trough decline | -28.10% | -13.93% | -14.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.79% | 3.27% | +3.52% |
Volatility
BKF vs. TLT - Volatility Comparison
iShares MSCI BRIC ETF (BKF) has a higher volatility of 4.77% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.58%. This indicates that BKF'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.
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Volatility by Period
| BKF | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 2.58% | +2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.94% | 6.80% | +6.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.98% | 9.38% | +6.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.53% | 15.79% | +5.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.67% | 14.84% | +6.83% |
BKF vs. TLT - Expense Ratio Comparison
BKF has a 0.69% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
BKF vs. TLT - Dividend Comparison
BKF's dividend yield for the trailing twelve months is around 1.59%, less than TLT's 4.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKF iShares MSCI BRIC ETF | 1.59% | 1.79% | 2.37% | 1.68% | 2.04% | 2.93% | 1.02% | 1.66% | 2.33% | 1.51% | 1.82% | 3.15% |
TLT iShares 20+ Year Treasury Bond ETF | 4.64% | 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
BKF and TLT have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BKF has higher volatility (4.77%) compared to TLT (2.58%). In terms of maximum drawdown, BKF dropped -70.29% vs TLT's -48.35%.
On 10-year performance, BKF leads with 4.28% vs -2.15% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BKF has performed better with a 4.28% return vs -2.15%. 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 0.69% for BKF.
TLT has the higher dividend yield at 4.64%, compared with 1.59% for BKF.
BKF is categorized as Emerging Markets Equities, while TLT is Government Bonds. BKF tracks MSCI BRIC Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.69% for BKF and 0.15% for TLT.
TLT currently has the higher Sharpe Ratio (0.29 vs -0.13), 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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