DFTEX vs. TLT
DFTEX (DFA Intermediate-Term Extended Quality Portfolio Fund) and TLT (iShares 20+ Year Treasury Bond ETF) are both funds - DFTEX is a Corporate Bonds fund managed by Dimensional, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Over the past 10 years, DFTEX returned 2.35%/yr vs -1.75%/yr for TLT. Their correlation of 0.88 suggests significant overlap in exposure. DFTEX charges 0.20%/yr vs 0.15%/yr for TLT.
Performance
DFTEX vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DFTEX achieves a 1.08% return, which is significantly higher than TLT's 0.27% return. Over the past 10 years, DFTEX has outperformed TLT with an annualized return of 2.35%, while TLT has yielded a comparatively lower -1.75% annualized return.
DFTEX
- 1D
- 0.62%
- 1M
- 1.42%
- YTD
- 1.08%
- 6M
- 1.49%
- 1Y
- 6.11%
- 3Y*
- 6.02%
- 5Y*
- 0.58%
- 10Y*
- 2.35%
TLT
- 1D
- -0.24%
- 1M
- 1.40%
- YTD
- 0.27%
- 6M
- 0.45%
- 1Y
- 3.88%
- 3Y*
- -1.38%
- 5Y*
- -6.53%
- 10Y*
- -1.75%
DFTEX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFTEX DFA Intermediate-Term Extended Quality Portfolio Fund | 1.08% | 7.70% | 2.89% | 9.61% | -16.28% | -2.05% | 10.26% | 13.38% | -2.10% | 5.20% |
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 DFTEX and TLT is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.88 |
The correlation between DFTEX and TLT has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DFTEX vs. TLT — Risk / Return Rank
DFTEX
TLT
DFTEX vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Intermediate-Term Extended Quality Portfolio Fund (DFTEX) 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.
| DFTEX | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.06 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 0.38 | +1.58 |
| Martin ratioReturn relative to average drawdown | 6.35 | 0.92 | +5.43 |
Loading charts...
Drawdowns
DFTEX vs. TLT - Drawdown Comparison
The maximum DFTEX drawdown since its inception was -22.83%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for DFTEX and TLT.
Loading charts...
Drawdown Indicators
| DFTEX | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.83% | -48.35% | +25.52% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -7.58% | +4.36% |
Max Drawdown (3Y)Largest decline over 3 years | -5.38% | -19.18% | +13.80% |
Max Drawdown (5Y)Largest decline over 5 years | -22.83% | -43.70% | +20.87% |
Max Drawdown (10Y)Largest decline over 10 years | -22.83% | -48.35% | +25.52% |
Current DrawdownCurrent decline from peak | -0.74% | -40.12% | +39.38% |
Average DrawdownAverage peak-to-trough decline | -4.45% | -13.84% | +9.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 3.14% | -2.15% |
Volatility
DFTEX vs. TLT - Volatility Comparison
The current volatility for DFA Intermediate-Term Extended Quality Portfolio Fund (DFTEX) is 1.45%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.83%. This indicates that DFTEX 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.
Loading charts...
Volatility by Period
| DFTEX | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 2.83% | -1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 6.64% | -3.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.20% | 9.68% | -5.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.71% | 15.85% | -9.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.89% | 14.91% | -9.02% |
DFTEX vs. TLT - Expense Ratio Comparison
DFTEX has a 0.20% expense ratio, which is higher than TLT's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
DFTEX vs. TLT - Dividend Comparison
DFTEX's dividend yield for the trailing twelve months is around 4.92%, more than TLT's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFTEX DFA Intermediate-Term Extended Quality Portfolio Fund | 4.92% | 4.30% | 4.27% | 3.79% | 3.25% | 4.12% | 3.31% | 3.06% | 3.24% | 2.91% | 2.88% | 3.90% |
TLT iShares 20+ Year Treasury Bond ETF | 4.56% | 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
DFTEX and TLT have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.83%) compared to DFTEX (1.45%). In terms of maximum drawdown, DFTEX dropped -22.83% vs TLT's -48.35%.
DFTEX currently has the higher Sharpe Ratio (1.50 vs 0.30), 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.
Find the right allocation for DFTEX and TLT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer