EUSA vs. TLT
EUSA (iShares MSCI USA Equal Weighted ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - EUSA is a Mid Cap Blend Equities fund tracking the MSCI USA Equal Weighted 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, EUSA returned 11.57%/yr vs -1.56%/yr for TLT. At a correlation of -0.16, they often move in opposite directions. EUSA charges 0.09%/yr vs 0.15%/yr for TLT.
Performance
EUSA vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, EUSA achieves a 10.04% return, which is significantly higher than TLT's -0.05% return. Over the past 10 years, EUSA has outperformed TLT with an annualized return of 11.57%, while TLT has yielded a comparatively lower -1.56% annualized return.
EUSA
- 1D
- 0.81%
- 1M
- 3.88%
- YTD
- 10.04%
- 6M
- 10.00%
- 1Y
- 19.17%
- 3Y*
- 16.37%
- 5Y*
- 7.90%
- 10Y*
- 11.57%
TLT
- 1D
- 0.22%
- 1M
- 0.48%
- YTD
- -0.05%
- 6M
- -1.27%
- 1Y
- 3.48%
- 3Y*
- -1.67%
- 5Y*
- -6.27%
- 10Y*
- -1.56%
EUSA vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUSA iShares MSCI USA Equal Weighted ETF | 10.04% | 10.24% | 14.64% | 17.72% | -17.13% | 25.60% | 15.03% | 30.56% | -8.58% | 19.02% |
TLT iShares 20+ Year Treasury Bond ETF | -0.05% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between EUSA and TLT is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since May 10, 2010 | -0.16 |
The correlation between EUSA and TLT shifts across timeframes, from -0.16 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EUSA vs. TLT — Risk / Return Rank
EUSA
TLT
EUSA vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Equal Weighted ETF (EUSA) 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.
| EUSA | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.27 | ||
| Sortino ratioReturn per unit of downside risk | +1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.07 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 0.46 | +2.00 |
| Martin ratioReturn relative to average drawdown | 9.76 | 1.14 | +8.61 |
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
| EUSA | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.63 | 0.36 | +1.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | -0.40 | +0.87 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | -0.11 | +0.74 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.26 | +0.45 |
Drawdowns
EUSA vs. TLT - Drawdown Comparison
The maximum EUSA drawdown since its inception was -39.16%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for EUSA and TLT.
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Drawdown Indicators
| EUSA | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.16% | -48.35% | +9.19% |
Max Drawdown (1Y)Largest decline over 1 year | -7.82% | -7.58% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -18.20% | -19.18% | +0.98% |
Max Drawdown (5Y)Largest decline over 5 years | -25.24% | -43.70% | +18.46% |
Max Drawdown (10Y)Largest decline over 10 years | -39.16% | -48.35% | +9.19% |
Current DrawdownCurrent decline from peak | 0.00% | -40.31% | +40.31% |
Average DrawdownAverage peak-to-trough decline | -4.59% | -13.82% | +9.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 3.05% | -1.08% |
Volatility
EUSA vs. TLT - Volatility Comparison
iShares MSCI USA Equal Weighted ETF (EUSA) has a higher volatility of 2.93% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.71%. This indicates that EUSA'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
| EUSA | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 2.71% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 8.75% | 6.50% | +2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.80% | 9.77% | +2.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.95% | 15.86% | +1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.34% | 14.90% | +3.44% |
EUSA vs. TLT - Expense Ratio Comparison
EUSA has a 0.09% expense ratio, which is lower than TLT's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EUSA vs. TLT - Dividend Comparison
EUSA's dividend yield for the trailing twelve months is around 1.51%, less than TLT's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUSA iShares MSCI USA Equal Weighted ETF | 1.51% | 1.63% | 1.47% | 1.53% | 1.73% | 1.23% | 1.45% | 1.49% | 2.01% | 1.50% | 1.59% | 2.21% |
TLT iShares 20+ Year Treasury Bond ETF | 4.58% | 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
EUSA and TLT have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EUSA has higher volatility (2.93%) compared to TLT (2.71%). In terms of maximum drawdown, EUSA dropped -39.16% vs TLT's -48.35%.
On 10-year performance, EUSA leads with 11.57% vs -1.56% for TLT. On fees, EUSA is cheaper at 0.09% per year. On volatility, TLT has been the lower-risk option at 2.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EUSA has performed better with a 11.57% return vs -1.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EUSA is cheaper with a 0.09% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.58%, compared with 1.51% for EUSA.
EUSA is categorized as Mid Cap Blend Equities, while TLT is Government Bonds. EUSA tracks MSCI USA Equal Weighted Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.09% for EUSA and 0.15% for TLT.
EUSA currently has the higher Sharpe Ratio (1.63 vs 0.36), 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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