EEMA vs. TLT
EEMA (iShares MSCI Emerging Markets Asia ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - EEMA is a Asia Pacific Equities fund tracking the MSCI Emerging Markets Asia 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, EEMA returned 9.46%/yr vs -2.25%/yr for TLT. Their -0.13 correlation means they have often moved in opposite directions in the past. EEMA charges 0.50%/yr vs 0.15%/yr for TLT.
Performance
EEMA vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, EEMA achieves a 22.06% return, which is significantly higher than TLT's -2.43% return. Over the past 10 years, EEMA has outperformed TLT with an annualized return of 9.46%, while TLT has yielded a comparatively lower -2.25% annualized return.
EEMA
- 1D
- 2.15%
- 1M
- 0.93%
- 6M
- 13.61%
- YTD
- 22.06%
- 1Y
- 38.70%
- 3Y*
- 21.29%
- 5Y*
- 7.47%
- 10Y*
- 9.46%
- ALL TIME*
- 7.10%
TLT
- 1D
- 0.77%
- 1M
- -2.76%
- 6M
- -2.36%
- YTD
- -2.43%
- 1Y
- -1.64%
- 3Y*
- -0.90%
- 5Y*
- -8.10%
- 10Y*
- -2.25%
- ALL TIME*
- 3.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.43M | $13.06M | $19.95M | |
| $2.59B | $2.11B | $2.22B |
EEMA vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EEMA iShares MSCI Emerging Markets Asia ETF | 22.06% | 33.27% | 10.23% | 6.57% | -21.49% | -4.22% | 25.17% | 18.60% | -15.76% | 43.41% |
TLT iShares 20+ Year Treasury Bond ETF | -2.43% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between EEMA and TLT is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.06 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2012 | -0.13 |
The correlation between EEMA and TLT shifts across timeframes, from -0.13 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EEMA vs. TLT — Risk / Return Rank
EEMA
TLT
EEMA vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Asia ETF (EEMA) 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.
| EEMA | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.81 | ||
| Sortino ratioReturn per unit of downside risk | +2.37 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.98 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | -0.21 | +2.93 |
| Martin ratioReturn relative to average drawdown | 8.33 | -0.45 | +8.79 |
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Drawdowns
EEMA vs. TLT - Drawdown Comparison
The maximum EEMA drawdown since its inception was -44.18%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for EEMA and TLT.
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Drawdown Indicators
| EEMA | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.18% | -48.35% | +4.17% |
Max Drawdown (1Y)Largest decline over 1 year | -14.30% | -7.74% | -6.56% |
Max Drawdown (3Y)Largest decline over 3 years | -20.23% | -14.79% | -5.44% |
Max Drawdown (5Y)Largest decline over 5 years | -38.31% | -43.70% | +5.39% |
Max Drawdown (10Y)Largest decline over 10 years | -44.18% | -48.35% | +4.17% |
Current DrawdownCurrent decline from peak | -5.83% | -41.73% | +35.90% |
Average DrawdownAverage peak-to-trough decline | -13.88% | -14.00% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.66% | 3.63% | +1.03% |
Volatility
EEMA vs. TLT - Volatility Comparison
iShares MSCI Emerging Markets Asia ETF (EEMA) has a higher volatility of 7.78% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.67%. This indicates that EEMA'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
| EEMA | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.78% | 2.67% | +5.11% |
Volatility (6M)Calculated over the trailing 6-month period | 21.29% | 6.88% | +14.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.86% | 9.25% | +14.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.05% | 15.75% | +5.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.13% | 14.83% | +6.30% |
EEMA vs. TLT - Expense Ratio Comparison
EEMA has a 0.50% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
EEMA vs. TLT - Dividend Comparison
EEMA's dividend yield for the trailing twelve months is around 1.35%, less than TLT's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEMA iShares MSCI Emerging Markets Asia ETF | 1.35% | 1.48% | 1.74% | 2.02% | 1.78% | 2.19% | 1.15% | 1.86% | 2.17% | 1.74% | 1.74% | 2.44% |
TLT iShares 20+ Year Treasury Bond ETF | 4.71% | 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
EEMA and TLT have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EEMA has higher volatility (7.78%) compared to TLT (2.67%). In terms of maximum drawdown, EEMA dropped -44.18% vs TLT's -48.35%.
On 10-year performance, EEMA leads with 9.46% vs -2.25% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EEMA has performed better with a 9.46% return vs -2.25%. 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 0.50% for EEMA.
TLT has the higher dividend yield at 4.71%, compared with 1.35% for EEMA.
EEMA is categorized as Asia Pacific Equities, while TLT is Government Bonds. EEMA tracks MSCI Emerging Markets Asia Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.50% for EEMA and 0.15% for TLT.
EEMA currently has the higher Sharpe Ratio (1.63 vs -0.18), 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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