BTOT vs. TLT
BTOT (iShares Total USD Fixed Income Market ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - BTOT is a Total Bond Market fund tracking the Bloomberg US Total Fixed Income Market Index, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Their correlation of 0.89 suggests significant overlap in exposure. BTOT charges 0.09%/yr vs 0.15%/yr for TLT.
Performance
BTOT vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, BTOT achieves a 0.62% return, which is significantly lower than TLT's 0.77% return.
BTOT
- 1D
- 0.08%
- 1M
- 0.66%
- YTD
- 0.62%
- 6M
- 0.75%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- 0.13%
- 1M
- 2.20%
- YTD
- 0.77%
- 6M
- 0.38%
- 1Y
- 3.87%
- 3Y*
- -1.89%
- 5Y*
- -6.59%
- 10Y*
- -1.74%
BTOT vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BTOT iShares Total USD Fixed Income Market ETF | 0.62% | 0.12% |
TLT iShares 20+ Year Treasury Bond ETF | 0.77% | -0.92% |
Correlation
The correlation between BTOT and TLT is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025 | 0.89 |
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Return for Risk
BTOT vs. TLT — Risk / Return Rank
BTOT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TLT
BTOT vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Total USD Fixed Income Market ETF (BTOT) 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.
| BTOT | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.07 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.51 | — |
| Martin ratioReturn relative to average drawdown | — | 1.22 | — |
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Drawdowns
BTOT vs. TLT - Drawdown Comparison
The maximum BTOT drawdown since its inception was -2.36%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for BTOT and TLT.
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Drawdown Indicators
| BTOT | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.36% | -48.35% | +45.99% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.58% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.18% | — |
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 | -0.96% | -39.82% | +38.86% |
Average DrawdownAverage peak-to-trough decline | -0.79% | -13.87% | +13.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.18% | — |
Volatility
BTOT vs. TLT - Volatility Comparison
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Volatility by Period
| BTOT | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.20% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 6.62% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 9.48% | -5.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.70% | 15.82% | -12.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.70% | 14.88% | -11.18% |
BTOT vs. TLT - Expense Ratio Comparison
BTOT has a 0.09% expense ratio, which is lower than TLT's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BTOT vs. TLT - Dividend Comparison
BTOT's dividend yield for the trailing twelve months is around 2.12%, less than TLT's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTOT iShares Total USD Fixed Income Market ETF | 2.12% | 0.22% | 0.00% | 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 | 4.54% | 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
BTOT and TLT have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTOT is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTOT is cheaper with a 0.09% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.54%, compared with 2.12% for BTOT.
BTOT is categorized as Total Bond Market, while TLT is Government Bonds. BTOT tracks Bloomberg US Total Fixed Income Market Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.09% for BTOT and 0.15% for TLT.
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