EIRL vs. TLT
EIRL (iShares MSCI Ireland ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - EIRL is a Europe Equities fund tracking the MSCI Ireland Investable Market 25/50 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, EIRL returned 9.76%/yr vs -2.33%/yr for TLT. Their -0.15 correlation means they have often moved in opposite directions in the past. EIRL charges 0.49%/yr vs 0.15%/yr for TLT.
Performance
EIRL vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, EIRL achieves a 10.04% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, EIRL has outperformed TLT with an annualized return of 9.76%, while TLT has yielded a comparatively lower -2.33% annualized return.
EIRL
- 1D
- 0.12%
- 1M
- 0.25%
- 6M
- 6.83%
- YTD
- 10.04%
- 1Y
- 25.72%
- 3Y*
- 12.88%
- 5Y*
- 8.34%
- 10Y*
- 9.76%
- ALL TIME*
- 9.90%
TLT
- 1D
- 0.33%
- 1M
- -3.49%
- 6M
- -2.86%
- YTD
- -3.18%
- 1Y
- -2.12%
- 3Y*
- -1.15%
- 5Y*
- -8.33%
- 10Y*
- -2.33%
- ALL TIME*
- 3.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $628.14K | $449.36K | $1.15M | |
| $2.39B | $2.06B | $2.20B |
EIRL vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIRL iShares MSCI Ireland ETF | 10.04% | 28.82% | -1.64% | 35.13% | -18.83% | 13.72% | 9.63% | 28.15% | -21.92% | 29.82% |
TLT iShares 20+ Year Treasury Bond ETF | -3.18% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between EIRL and TLT is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.05 |
Correlation (All Time) Calculated using the full available price history since May 11, 2010 | -0.15 |
The correlation between EIRL and TLT shifts across timeframes, from -0.15 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EIRL vs. TLT — Risk / Return Rank
EIRL
TLT
EIRL vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Ireland ETF (EIRL) 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.
| EIRL | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.67 | ||
| Sortino ratioReturn per unit of downside risk | +2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.97 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | -0.28 | +2.09 |
| Martin ratioReturn relative to average drawdown | 6.05 | -0.59 | +6.64 |
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Drawdowns
EIRL vs. TLT - Drawdown Comparison
The maximum EIRL drawdown since its inception was -46.48%, roughly equal to the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for EIRL and TLT.
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Drawdown Indicators
| EIRL | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.48% | -48.35% | +1.87% |
Max Drawdown (1Y)Largest decline over 1 year | -14.28% | -7.74% | -6.54% |
Max Drawdown (3Y)Largest decline over 3 years | -23.04% | -14.79% | -8.25% |
Max Drawdown (5Y)Largest decline over 5 years | -40.14% | -43.70% | +3.56% |
Max Drawdown (10Y)Largest decline over 10 years | -46.48% | -48.35% | +1.87% |
Current DrawdownCurrent decline from peak | -1.05% | -42.17% | +41.12% |
Average DrawdownAverage peak-to-trough decline | -9.02% | -14.00% | +4.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.26% | 3.60% | +0.66% |
Volatility
EIRL vs. TLT - Volatility Comparison
iShares MSCI Ireland ETF (EIRL) has a higher volatility of 4.26% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that EIRL'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
| EIRL | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.26% | 2.51% | +1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 15.30% | 6.84% | +8.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.96% | 9.24% | +8.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.10% | 15.74% | +5.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 14.83% | +6.37% |
EIRL vs. TLT - Expense Ratio Comparison
EIRL has a 0.49% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
EIRL vs. TLT - Dividend Comparison
EIRL's dividend yield for the trailing twelve months is around 2.37%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIRL iShares MSCI Ireland ETF | 2.37% | 2.71% | 2.56% | 1.00% | 1.13% | 0.82% | 0.50% | 2.11% | 1.52% | 1.44% | 1.34% | 1.70% |
TLT iShares 20+ Year Treasury Bond ETF | 4.75% | 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
EIRL and TLT have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EIRL has higher volatility (4.26%) compared to TLT (2.51%). In terms of maximum drawdown, EIRL dropped -46.48% vs TLT's -48.35%.
On 10-year performance, EIRL leads with 9.76% vs -2.33% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EIRL has performed better with a 9.76% return vs -2.33%. 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 0.49% for EIRL.
TLT has the higher dividend yield at 4.75%, compared with 2.37% for EIRL.
EIRL is categorized as Europe Equities, while TLT is Government Bonds. EIRL tracks MSCI Ireland Investable Market 25/50 Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.49% for EIRL and 0.15% for TLT.
EIRL currently has the higher Sharpe Ratio (1.44 vs -0.23), 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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