EPHE vs. TLT
EPHE (iShares MSCI Philippines ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - EPHE is a Asia Pacific Equities fund tracking the MSCI Philippines Investable Market 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, EPHE returned -3.20%/yr vs -1.66%/yr for TLT. At a correlation of -0.09, they often move in opposite directions. EPHE charges 0.59%/yr vs 0.15%/yr for TLT.
Performance
EPHE vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, EPHE achieves a -1.12% return, which is significantly lower than TLT's -0.27% return. Over the past 10 years, EPHE has underperformed TLT with an annualized return of -3.20%, while TLT has yielded a comparatively higher -1.66% annualized return.
EPHE
- 1D
- 0.24%
- 1M
- 1.36%
- YTD
- -1.12%
- 6M
- 0.64%
- 1Y
- -9.52%
- 3Y*
- 0.24%
- 5Y*
- -3.12%
- 10Y*
- -3.20%
TLT
- 1D
- -0.40%
- 1M
- 0.81%
- YTD
- -0.27%
- 6M
- -2.02%
- 1Y
- 4.93%
- 3Y*
- -1.80%
- 5Y*
- -6.31%
- 10Y*
- -1.66%
EPHE vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPHE iShares MSCI Philippines ETF | -1.12% | 1.56% | -1.41% | 1.27% | -15.87% | -2.23% | -3.95% | 8.50% | -17.50% | 20.20% |
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 EPHE and TLT is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2010 | -0.09 |
The correlation between EPHE and TLT shifts across timeframes, from -0.09 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EPHE vs. TLT — Risk / Return Rank
EPHE
TLT
EPHE vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Philippines ETF (EPHE) 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.
| EPHE | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.09 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 0.65 | -1.24 |
| Martin ratioReturn relative to average drawdown | -1.05 | 1.63 | -2.68 |
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
| EPHE | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.51 | 0.51 | -1.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.17 | -0.40 | +0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.14 | -0.11 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.26 | -0.21 |
Drawdowns
EPHE vs. TLT - Drawdown Comparison
The maximum EPHE drawdown since its inception was -53.82%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for EPHE and TLT.
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Drawdown Indicators
| EPHE | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.82% | -48.35% | -5.47% |
Max Drawdown (1Y)Largest decline over 1 year | -16.22% | -7.58% | -8.64% |
Max Drawdown (3Y)Largest decline over 3 years | -21.42% | -19.18% | -2.24% |
Max Drawdown (5Y)Largest decline over 5 years | -32.96% | -43.70% | +10.74% |
Max Drawdown (10Y)Largest decline over 10 years | -51.62% | -48.35% | -3.27% |
Current DrawdownCurrent decline from peak | -34.62% | -40.44% | +5.82% |
Average DrawdownAverage peak-to-trough decline | -20.98% | -13.82% | -7.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.08% | 3.04% | +6.04% |
Volatility
EPHE vs. TLT - Volatility Comparison
iShares MSCI Philippines ETF (EPHE) has a higher volatility of 5.60% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. This indicates that EPHE'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
| EPHE | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 2.76% | +2.84% |
Volatility (6M)Calculated over the trailing 6-month period | 13.77% | 6.50% | +7.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.87% | 9.77% | +9.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.05% | 15.87% | +2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.24% | 14.91% | +7.33% |
EPHE vs. TLT - Expense Ratio Comparison
EPHE has a 0.59% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
EPHE vs. TLT - Dividend Comparison
EPHE's dividend yield for the trailing twelve months is around 2.13%, less than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPHE iShares MSCI Philippines ETF | 2.13% | 2.11% | 2.32% | 2.01% | 1.73% | 1.05% | 0.72% | 0.78% | 0.45% | 0.36% | 0.71% | 1.03% |
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
EPHE 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.
EPHE has higher volatility (5.60%) compared to TLT (2.76%). In terms of maximum drawdown, EPHE dropped -53.82% vs TLT's -48.35%.
On 10-year performance, TLT leads with -1.66% vs -3.20% for EPHE. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TLT has performed better with a -1.66% return vs -3.20%. 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 0.59% for EPHE.
TLT has the higher dividend yield at 4.59%, compared with 2.13% for EPHE.
EPHE is categorized as Asia Pacific Equities, while TLT is Government Bonds. EPHE tracks MSCI Philippines Investable Market Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.59% for EPHE and 0.15% for TLT.
TLT currently has the higher Sharpe Ratio (0.51 vs -0.51), 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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