COMT vs. TLT
COMT (iShares Commodities Select Strategy ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - COMT is a Commodities fund actively managed by iShares, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. COMT is actively managed, while TLT is passively managed. Over the past 10 years, COMT returned 9.09%/yr vs -1.66%/yr for TLT. At a correlation of -0.21, they often move in opposite directions. COMT charges 0.48%/yr vs 0.15%/yr for TLT.
Performance
COMT vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, COMT achieves a 39.67% return, which is significantly higher than TLT's -0.27% return. Over the past 10 years, COMT has outperformed TLT with an annualized return of 9.09%, while TLT has yielded a comparatively lower -1.66% annualized return.
COMT
- 1D
- 0.78%
- 1M
- -4.35%
- YTD
- 39.67%
- 6M
- 39.06%
- 1Y
- 47.51%
- 3Y*
- 16.86%
- 5Y*
- 13.50%
- 10Y*
- 9.09%
TLT
- 1D
- -0.40%
- 1M
- 0.81%
- YTD
- -0.27%
- 6M
- -2.02%
- 1Y
- 4.93%
- 3Y*
- -1.80%
- 5Y*
- -6.31%
- 10Y*
- -1.66%
COMT vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares Commodities Select Strategy ETF | 39.67% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
TLT iShares 20+ Year Treasury Bond ETF | -0.27% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between COMT and TLT is -0.34, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2014 | -0.21 |
The correlation between COMT and TLT shifts across timeframes, from -0.34 (1 year) to -0.16 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
COMT vs. TLT — Risk / Return Rank
COMT
TLT
COMT vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Commodities Select Strategy ETF (COMT) 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.
| COMT | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +2.08 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.09 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 5.95 | 0.65 | +5.30 |
| Martin ratioReturn relative to average drawdown | 14.11 | 1.63 | +12.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| COMT | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 0.51 | +1.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | -0.40 | +1.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | -0.11 | +0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.26 | -0.05 |
Drawdowns
COMT vs. TLT - Drawdown Comparison
The maximum COMT drawdown since its inception was -51.89%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for COMT and TLT.
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Drawdown Indicators
| COMT | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.89% | -48.35% | -3.54% |
Max Drawdown (1Y)Largest decline over 1 year | -8.02% | -7.58% | -0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -13.31% | -19.18% | +5.87% |
Max Drawdown (5Y)Largest decline over 5 years | -29.00% | -43.70% | +14.70% |
Max Drawdown (10Y)Largest decline over 10 years | -39.22% | -48.35% | +9.13% |
Current DrawdownCurrent decline from peak | -4.82% | -40.44% | +35.62% |
Average DrawdownAverage peak-to-trough decline | -24.07% | -13.82% | -10.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.38% | 3.04% | +0.34% |
Volatility
COMT vs. TLT - Volatility Comparison
iShares Commodities Select Strategy ETF (COMT) has a higher volatility of 7.37% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. This indicates that COMT'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
| COMT | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.37% | 2.76% | +4.61% |
Volatility (6M)Calculated over the trailing 6-month period | 18.80% | 6.50% | +12.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.29% | 9.77% | +11.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.06% | 15.87% | +5.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.89% | 14.91% | +3.98% |
COMT vs. TLT - Expense Ratio Comparison
COMT has a 0.48% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
COMT vs. TLT - Dividend Comparison
COMT's dividend yield for the trailing twelve months is around 5.54%, more than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares Commodities Select Strategy ETF | 5.54% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
TLT iShares 20+ Year Treasury Bond ETF | 4.59% | 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
COMT and TLT have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COMT has higher volatility (7.37%) compared to TLT (2.76%). In terms of maximum drawdown, COMT dropped -51.89% vs TLT's -48.35%.
On 10-year performance, COMT leads with 9.09% vs -1.66% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, COMT has performed better with a 9.09% return vs -1.66%. 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 0.48% for COMT.
COMT has the higher dividend yield at 5.54%, compared with 4.59% for TLT.
COMT is categorized as Commodities, while TLT is Government Bonds. Their fees differ too: 0.48% for COMT and 0.15% for TLT.
COMT currently has the higher Sharpe Ratio (2.24 vs 0.51), 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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