ETHA vs. TLT
ETHA (iShares Ethereum Trust ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - ETHA is a Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past year, ETHA returned -31.79% vs 4.93% for TLT. At a 0.07 correlation, their price movements are largely independent. ETHA charges 0.25%/yr vs 0.15%/yr for TLT.
Performance
ETHA vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, ETHA achieves a -39.46% return, which is significantly lower than TLT's -0.27% return.
ETHA
- 1D
- -5.56%
- 1M
- -23.58%
- YTD
- -39.46%
- 6M
- -42.75%
- 1Y
- -31.79%
- 3Y*
- —
- 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%
ETHA vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -39.46% | -11.31% | -3.62% |
TLT iShares 20+ Year Treasury Bond ETF | -0.27% | 4.25% | -3.65% |
Correlation
The correlation between ETHA and TLT is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024 | 0.07 |
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Return for Risk
ETHA vs. TLT — Risk / Return Rank
ETHA
TLT
ETHA vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) 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.
| ETHA | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.11 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.09 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 0.65 | -1.16 |
| Martin ratioReturn relative to average drawdown | -0.84 | 1.63 | -2.47 |
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
| ETHA | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.47 | 0.51 | -0.97 |
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 | -0.41 | 0.26 | -0.67 |
Drawdowns
ETHA vs. TLT - Drawdown Comparison
The maximum ETHA drawdown since its inception was -64.02%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for ETHA and TLT.
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Drawdown Indicators
| ETHA | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.02% | -48.35% | -15.67% |
Max Drawdown (1Y)Largest decline over 1 year | -62.89% | -7.58% | -55.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.18% | — |
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 | -62.89% | -40.44% | -22.45% |
Average DrawdownAverage peak-to-trough decline | -32.65% | -13.82% | -18.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.73% | 3.04% | +34.69% |
Volatility
ETHA vs. TLT - Volatility Comparison
iShares Ethereum Trust ETF (ETHA) has a higher volatility of 10.15% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. This indicates that ETHA'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
| ETHA | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.15% | 2.76% | +7.39% |
Volatility (6M)Calculated over the trailing 6-month period | 46.25% | 6.50% | +39.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.61% | 9.77% | +58.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.53% | 15.87% | +56.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.53% | 14.91% | +57.62% |
ETHA vs. TLT - Expense Ratio Comparison
ETHA has a 0.25% 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
ETHA vs. TLT - Dividend Comparison
ETHA has not paid dividends to shareholders, while TLT's dividend yield for the trailing twelve months is around 4.59%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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
ETHA and TLT have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHA has higher volatility (10.15%) compared to TLT (2.76%). In terms of maximum drawdown, ETHA dropped -64.02% vs TLT's -48.35%.
On 1-year performance, TLT leads with 4.93% vs -31.79% for ETHA. 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 1-year period, TLT has performed better with a 4.93% return vs -31.79%. 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 0.25% for ETHA.
TLT has the higher dividend yield at 4.59%, compared with 0.00% for ETHA.
ETHA is categorized as Cryptocurrency, while TLT is Government Bonds. ETHA tracks CME CF Ether Dollar Reference Rate - New York Variant, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.25% for ETHA and 0.15% for TLT.
TLT currently has the higher Sharpe Ratio (0.51 vs -0.47), 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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