DIVB vs. TLT
DIVB (iShares Core Dividend ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - DIVB is a Dividend fund tracking the Morningstar US Dividend and Buyback 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 5 years, DIVB returned 13.37%/yr vs -8.18%/yr for TLT. Their -0.10 correlation means they have often moved in opposite directions in the past. DIVB charges 0.05%/yr vs 0.15%/yr for TLT.
Performance
DIVB vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, DIVB achieves a 25.34% return, which is significantly higher than TLT's -3.49% return.
DIVB
- 1D
- 0.26%
- 1M
- 3.88%
- 6M
- 20.82%
- YTD
- 25.34%
- 1Y
- 36.31%
- 3Y*
- 21.50%
- 5Y*
- 13.37%
- 10Y*
- —
- ALL TIME*
- 14.50%
TLT
- 1D
- -0.66%
- 1M
- -3.81%
- 6M
- -3.46%
- YTD
- -3.49%
- 1Y
- -2.45%
- 3Y*
- -1.80%
- 5Y*
- -8.18%
- 10Y*
- -2.38%
- ALL TIME*
- 3.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.36M | $10.66M | $7.75M | |
| $2.33B | $2.02B | $2.19B |
DIVB vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DIVB iShares Core Dividend ETF | 25.34% | 15.09% | 18.59% | 13.27% | -10.51% | 31.29% | 10.78% | 32.72% | -8.16% | 5.95% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 0.81% |
Correlation
The correlation between DIVB and TLT is 0.19, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.19 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2017 | -0.10 |
The correlation between DIVB and TLT shifts across timeframes, from -0.10 (all time) to 0.19 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DIVB vs. TLT — Risk / Return Rank
DIVB
TLT
DIVB vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Dividend ETF (DIVB) 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.
| DIVB | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.91 | ||
| Sortino ratioReturn per unit of downside risk | +4.04 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 0.99 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 5.11 | -0.14 | +5.25 |
| Martin ratioReturn relative to average drawdown | 17.69 | -0.30 | +17.99 |
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Drawdowns
DIVB vs. TLT - Drawdown Comparison
The maximum DIVB drawdown since its inception was -36.93%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for DIVB and TLT.
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Drawdown Indicators
| DIVB | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.93% | -48.35% | +11.42% |
Max Drawdown (1Y)Largest decline over 1 year | -6.82% | -7.74% | +0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -15.45% | -14.79% | -0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -21.08% | -43.70% | +22.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -1.26% | -42.36% | +41.10% |
Average DrawdownAverage peak-to-trough decline | -4.92% | -13.99% | +9.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 3.57% | -1.60% |
Volatility
DIVB vs. TLT - Volatility Comparison
iShares Core Dividend ETF (DIVB) has a higher volatility of 5.32% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.46%. This indicates that DIVB'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
| DIVB | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 2.46% | +2.86% |
Volatility (6M)Calculated over the trailing 6-month period | 9.83% | 6.85% | +2.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.54% | 9.32% | +3.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.38% | 15.74% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.35% | 14.83% | +3.52% |
DIVB vs. TLT - Expense Ratio Comparison
DIVB has a 0.05% 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
DIVB vs. TLT - Dividend Comparison
DIVB's dividend yield for the trailing twelve months is around 2.12%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIVB iShares Core Dividend ETF | 2.12% | 2.50% | 2.61% | 3.18% | 2.02% | 1.63% | 2.08% | 2.07% | 2.52% | 0.37% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.34% | 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
DIVB and TLT have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIVB has higher volatility (5.32%) compared to TLT (2.46%). In terms of maximum drawdown, DIVB dropped -36.93% vs TLT's -48.35%.
On 5-year performance, DIVB leads with 13.37% vs -8.18% for TLT. On fees, DIVB is cheaper at 0.05% per year. On volatility, TLT has been the lower-risk option at 2.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DIVB has performed better with a 13.37% return vs -8.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIVB is cheaper with a 0.05% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.34%, compared with 2.12% for DIVB.
DIVB is categorized as Dividend, while TLT is Government Bonds. DIVB tracks Morningstar US Dividend and Buyback Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.05% for DIVB and 0.15% for TLT.
DIVB currently has the higher Sharpe Ratio (2.80 vs -0.11), 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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