CRQ.NEO vs. TLT
CRQ.NEO (iShares Canadian Fundamental Index ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - CRQ.NEO is a Canada Equities fund tracking the FTSE RAFI Canada 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, CRQ.NEO returned 13.44%/yr vs -0.94%/yr for TLT. At a correlation of -0.32, they often move in opposite directions. CRQ.NEO charges 0.72%/yr vs 0.15%/yr for TLT.
Performance
CRQ.NEO vs. TLT - Performance Comparison
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Different Trading Currencies
CRQ.NEO is traded in CAD, while TLT is traded in USD. To make them comparable, the TLT values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CRQ.NEO achieves a 15.93% return, which is significantly higher than TLT's 1.00% return. Over the past 10 years, CRQ.NEO has outperformed TLT with an annualized return of 13.44%, while TLT has yielded a comparatively lower -0.94% annualized return.
CRQ.NEO
- 1D
- -0.32%
- 1M
- 3.58%
- YTD
- 15.93%
- 6M
- 18.90%
- 1Y
- 42.87%
- 3Y*
- 26.01%
- 5Y*
- 17.59%
- 10Y*
- 13.44%
TLT
- 1D
- 0.01%
- 1M
- 2.82%
- YTD
- 1.00%
- 6M
- -2.40%
- 1Y
- 6.28%
- 3Y*
- -0.66%
- 5Y*
- -3.63%
- 10Y*
- -0.94%
CRQ.NEO vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 15.93% | 31.87% | 22.17% | 9.76% | 0.89% | 33.95% | -2.73% | 19.66% | -10.18% | 6.98% |
TLT iShares 20+ Year Treasury Bond ETF | 1.00% | -0.53% | -0.15% | 0.50% | -26.33% | -5.46% | 16.16% | 8.51% | 6.73% | 2.23% |
Correlation
The correlation between CRQ.NEO and TLT is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2009 | -0.32 |
The correlation between CRQ.NEO and TLT shifts across timeframes, from -0.32 (all time) to 0.11 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CRQ.NEO vs. TLT — Risk / Return Rank
CRQ.NEO
TLT
CRQ.NEO vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Fundamental Index ETF (CRQ.NEO) 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.
| CRQ.NEO | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.81 | ||
| Sortino ratioReturn per unit of downside risk | +5.22 | ||
| Omega ratioGain probability vs. loss probability | 2.00 | 1.11 | +0.89 |
| Calmar ratioReturn relative to maximum drawdown | 6.30 | 0.68 | +5.61 |
| Martin ratioReturn relative to average drawdown | 30.78 | 1.50 | +29.27 |
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
| CRQ.NEO | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.41 | 0.61 | +3.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.43 | -0.22 | +1.65 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | -0.06 | +0.89 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.20 | +0.49 |
Drawdowns
CRQ.NEO vs. TLT - Drawdown Comparison
The maximum CRQ.NEO drawdown since its inception was -41.75%, smaller than the maximum TLT drawdown of -49.81%. Use the drawdown chart below to compare losses from any high point for CRQ.NEO and TLT.
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Drawdown Indicators
| CRQ.NEO | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.75% | -49.81% | +8.06% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -9.23% | +2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -11.70% | -16.36% | +4.66% |
Max Drawdown (5Y)Largest decline over 5 years | -15.82% | -39.82% | +24.00% |
Max Drawdown (10Y)Largest decline over 10 years | -41.75% | -49.81% | +8.06% |
Current DrawdownCurrent decline from peak | -0.32% | -41.37% | +41.05% |
Average DrawdownAverage peak-to-trough decline | -5.62% | -18.24% | +12.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 4.19% | -2.79% |
Volatility
CRQ.NEO vs. TLT - Volatility Comparison
iShares Canadian Fundamental Index ETF (CRQ.NEO) has a higher volatility of 2.99% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.78%. This indicates that CRQ.NEO'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
| CRQ.NEO | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 2.78% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 8.04% | 7.46% | +0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.76% | 10.41% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.41% | 16.62% | -4.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.27% | 16.32% | -0.05% |
CRQ.NEO vs. TLT - Expense Ratio Comparison
CRQ.NEO has a 0.72% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
CRQ.NEO vs. TLT - Dividend Comparison
CRQ.NEO's dividend yield for the trailing twelve months is around 1.90%, less than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 1.90% | 2.18% | 2.72% | 2.97% | 2.90% | 2.17% | 2.98% | 2.71% | 2.46% | 1.91% | 1.89% | 3.09% |
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
CRQ.NEO and TLT have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TLT is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLT is cheaper with a 0.15% expense ratio, compared with 0.72% for CRQ.NEO.
CRQ.NEO is categorized as Canada Equities, while TLT is Government Bonds. CRQ.NEO tracks FTSE RAFI Canada Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.72% for CRQ.NEO and 0.15% for TLT.
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