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 4.35%/yr vs -2.33%/yr for TLT. Their -0.22 correlation means they have often moved in opposite directions in the past. 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 -5.54% return, which is significantly lower than TLT's -3.18% return. Over the past 10 years, BKF has outperformed TLT with an annualized return of 4.35%, while TLT has yielded a comparatively lower -2.33% annualized return.
BKF
- 1D
- 0.32%
- 1M
- 6.30%
- 6M
- -8.32%
- YTD
- -5.54%
- 1Y
- 2.20%
- 3Y*
- 6.64%
- 5Y*
- -1.78%
- 10Y*
- 4.35%
- ALL TIME*
- 0.21%
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) |
|---|---|---|---|
| $152.87K | $247.53K | $560.11K | |
| $2.39B | $2.06B | $2.20B |
BKF vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BKF iShares MSCI BRIC ETF | -5.54% | 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 | -3.18% | 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 historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.15 |
Correlation (3Y) Balances recent behavior with more history. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (10Y) Provides a long-term view across more market conditions. | -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 | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.97 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | -0.28 | +0.42 |
| Martin ratioReturn relative to average drawdown | 0.30 | -0.59 | +0.89 |
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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% | -7.74% | -7.71% |
Max Drawdown (3Y)Largest decline over 3 years | -18.60% | -14.79% | -3.81% |
Max Drawdown (5Y)Largest decline over 5 years | -40.90% | -43.70% | +2.80% |
Max Drawdown (10Y)Largest decline over 10 years | -49.20% | -48.35% | -0.85% |
Current DrawdownCurrent decline from peak | -23.50% | -42.17% | +18.67% |
Average DrawdownAverage peak-to-trough decline | -28.09% | -14.00% | -14.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.31% | 3.60% | +3.71% |
Volatility
BKF vs. TLT - Volatility Comparison
iShares MSCI BRIC ETF (BKF) has a higher volatility of 3.78% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. 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 | 3.78% | 2.51% | +1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 12.65% | 6.84% | +5.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.02% | 9.24% | +6.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.33% | 15.74% | +5.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.68% | 14.83% | +6.85% |
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 1.54%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKF iShares MSCI BRIC ETF | 1.54% | 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 | 4.75% | 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
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 (3.78%) compared to TLT (2.51%). In terms of maximum drawdown, BKF dropped -70.29% vs TLT's -48.35%.
On 10-year performance, BKF leads with 4.35% vs -2.33% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.51%. 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 4.35% return vs -2.33%. 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 4.75%, compared with 1.54% 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.
BKF currently has the higher Sharpe Ratio (0.14 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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