BWZ vs. TLT
Compare and contrast key facts about SPDR Bloomberg Barclays Short Term International Treasury Bond ETF (BWZ) and iShares 20+ Year Treasury Bond ETF (TLT).
BWZ and TLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BWZ is a passively managed fund by State Street that tracks the performance of the Bloomberg Global Treasury (1-3 Y) Customized. It was launched on Jan 15, 2009. TLT is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 20+ Year Treasury Bond Index. It was launched on Jul 26, 2002. Both BWZ and TLT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BWZ or TLT.
Key characteristics
| BWZ | TLT | |
|---|---|---|
| YTD Return | -4.21% | -6.14% |
| 1Y Return | 0.20% | 4.03% |
| 3Y Return (Ann) | -4.32% | -12.58% |
| 5Y Return (Ann) | -2.42% | -5.92% |
| 10Y Return (Ann) | -1.86% | -0.37% |
| Sharpe Ratio | 0.19 | 0.43 |
| Sortino Ratio | 0.33 | 0.70 |
| Omega Ratio | 1.04 | 1.08 |
| Calmar Ratio | 0.05 | 0.14 |
| Martin Ratio | 0.42 | 1.05 |
| Ulcer Index | 3.39% | 6.10% |
| Daily Std Dev | 7.26% | 15.01% |
| Max Drawdown | -34.22% | -48.35% |
| Current Drawdown | -28.49% | -41.52% |
Correlation
The correlation between BWZ and TLT is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
BWZ vs. TLT - Performance Comparison
In the year-to-date period, BWZ achieves a -4.21% return, which is significantly higher than TLT's -6.14% return. Over the past 10 years, BWZ has underperformed TLT with an annualized return of -1.86%, while TLT has yielded a comparatively higher -0.37% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BWZ vs. TLT - Expense Ratio Comparison
BWZ has a 0.35% expense ratio, which is higher than TLT's 0.15% expense ratio.
Risk-Adjusted Performance
BWZ vs. TLT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Short Term International Treasury Bond ETF (BWZ) 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.
Dividends
BWZ vs. TLT - Dividend Comparison
BWZ's dividend yield for the trailing twelve months is around 2.40%, less than TLT's 4.10% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BWZ SPDR Bloomberg Barclays Short Term International Treasury Bond ETF | 2.40% | 1.62% | 0.44% | 0.60% | 0.13% | 0.44% | 1.10% | 0.40% | 0.13% | 0.06% | 0.20% | 0.09% |
TLT iShares 20+ Year Treasury Bond ETF | 4.10% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% | 2.67% | 3.26% |
Drawdowns
BWZ vs. TLT - Drawdown Comparison
The maximum BWZ drawdown since its inception was -34.22%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for BWZ and TLT. For additional features, visit the drawdowns tool.
Volatility
BWZ vs. TLT - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Short Term International Treasury Bond ETF (BWZ) is 3.05%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 5.07%. This indicates that BWZ 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.