ESMV vs. TLT
ESMV (iShares ESG MSCI USA Min Vol Factor ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - ESMV is a Large Cap Blend Equities fund tracking the MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 3 years, ESMV returned 11.27%/yr vs -1.80%/yr for TLT. At a 0.20 correlation, their price movements are largely independent. ESMV charges 0.18%/yr vs 0.15%/yr for TLT.
Performance
ESMV vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, ESMV achieves a 5.28% return, which is significantly higher than TLT's -0.27% return.
ESMV
- 1D
- -0.78%
- 1M
- 3.36%
- YTD
- 5.28%
- 6M
- 5.39%
- 1Y
- 6.76%
- 3Y*
- 11.27%
- 5Y*
- —
- 10Y*
- —
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%
ESMV vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 5.28% | 5.34% | 13.06% | 12.20% | -11.08% | 3.20% |
TLT iShares 20+ Year Treasury Bond ETF | -0.27% | 4.25% | -8.05% | 2.77% | -31.23% | 0.98% |
Correlation
The correlation between ESMV and TLT is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2021 | 0.20 |
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Return for Risk
ESMV vs. TLT — Risk / Return Rank
ESMV
TLT
ESMV vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG MSCI USA Min Vol Factor ETF (ESMV) 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.
| ESMV | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.09 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 0.65 | +0.32 |
| Martin ratioReturn relative to average drawdown | 2.97 | 1.63 | +1.35 |
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
| ESMV | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 0.51 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.40 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.26 | +0.18 |
Drawdowns
ESMV vs. TLT - Drawdown Comparison
The maximum ESMV drawdown since its inception was -19.77%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for ESMV and TLT.
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Drawdown Indicators
| ESMV | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.77% | -48.35% | +28.58% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -7.58% | +0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -12.16% | -19.18% | +7.02% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -0.78% | -40.44% | +39.66% |
Average DrawdownAverage peak-to-trough decline | -5.33% | -13.82% | +8.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | 3.04% | -0.76% |
Volatility
ESMV vs. TLT - Volatility Comparison
The current volatility for iShares ESG MSCI USA Min Vol Factor ETF (ESMV) is 2.25%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.76%. This indicates that ESMV 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.
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Volatility by Period
| ESMV | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 2.76% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 6.26% | 6.50% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.06% | 9.77% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.24% | 15.87% | -2.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.24% | 14.91% | -1.67% |
ESMV vs. TLT - Expense Ratio Comparison
ESMV has a 0.18% 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
ESMV vs. TLT - Dividend Comparison
ESMV's dividend yield for the trailing twelve months is around 1.58%, less than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 1.58% | 1.56% | 1.71% | 1.75% | 1.66% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
ESMV and TLT have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.76%) compared to ESMV (2.25%). In terms of maximum drawdown, ESMV dropped -19.77% vs TLT's -48.35%.
On 3-year performance, ESMV leads with 11.27% vs -1.80% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, ESMV has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ESMV has performed better with a 11.27% return vs -1.80%. 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 0.18% for ESMV.
TLT has the higher dividend yield at 4.59%, compared with 1.58% for ESMV.
ESMV is categorized as Large Cap Blend Equities, while TLT is Government Bonds. ESMV tracks MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.18% for ESMV and 0.15% for TLT.
ESMV currently has the higher Sharpe Ratio (0.67 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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