FIBR vs. TLT
FIBR (iShares U.S. Fixed Income Balanced Risk Systematic ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - FIBR is a Intermediate Core-Plus Bond fund tracking the Bloomberg U.S. Fixed Income Balanced Risk 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, FIBR returned 2.28%/yr vs -1.66%/yr for TLT. A 0.52 correlation means they provide meaningful diversification when combined. FIBR charges 0.25%/yr vs 0.15%/yr for TLT.
Performance
FIBR vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, FIBR achieves a 0.06% return, which is significantly higher than TLT's -0.27% return. Over the past 10 years, FIBR has outperformed TLT with an annualized return of 2.28%, while TLT has yielded a comparatively lower -1.66% annualized return.
FIBR
- 1D
- -0.27%
- 1M
- 0.22%
- YTD
- 0.06%
- 6M
- -0.05%
- 1Y
- 5.34%
- 3Y*
- 6.70%
- 5Y*
- 1.54%
- 10Y*
- 2.28%
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%
FIBR vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIBR iShares U.S. Fixed Income Balanced Risk Systematic ETF | 0.06% | 8.32% | 6.04% | 8.22% | -13.57% | -1.00% | 3.31% | 10.03% | -0.93% | 3.89% |
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 FIBR and TLT is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2015 | 0.52 |
Over the past year, FIBR and TLT have become more correlated (0.80) than their long-term average of 0.52, meaning their price movements have been converging.
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Return for Risk
FIBR vs. TLT — Risk / Return Rank
FIBR
TLT
FIBR vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Fixed Income Balanced Risk Systematic ETF (FIBR) 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.
| FIBR | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.09 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 0.65 | +1.14 |
| Martin ratioReturn relative to average drawdown | 5.50 | 1.63 | +3.87 |
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
| FIBR | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.41 | 0.51 | +0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | -0.40 | +0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | -0.11 | +0.57 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.26 | +0.25 |
Drawdowns
FIBR vs. TLT - Drawdown Comparison
The maximum FIBR drawdown since its inception was -18.47%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for FIBR and TLT.
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Drawdown Indicators
| FIBR | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.47% | -48.35% | +29.88% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -7.58% | +4.59% |
Max Drawdown (3Y)Largest decline over 3 years | -3.08% | -19.18% | +16.10% |
Max Drawdown (5Y)Largest decline over 5 years | -18.47% | -43.70% | +25.23% |
Max Drawdown (10Y)Largest decline over 10 years | -18.47% | -48.35% | +29.88% |
Current DrawdownCurrent decline from peak | -1.79% | -40.44% | +38.65% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -13.82% | +10.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 3.04% | -2.07% |
Volatility
FIBR vs. TLT - Volatility Comparison
The current volatility for iShares U.S. Fixed Income Balanced Risk Systematic ETF (FIBR) is 1.40%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.76%. This indicates that FIBR 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
| FIBR | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 2.76% | -1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 6.50% | -3.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 9.77% | -5.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.63% | 15.87% | -10.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.95% | 14.91% | -9.96% |
FIBR vs. TLT - Expense Ratio Comparison
FIBR 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
FIBR vs. TLT - Dividend Comparison
FIBR's dividend yield for the trailing twelve months is around 4.62%, which matches TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIBR iShares U.S. Fixed Income Balanced Risk Systematic ETF | 4.62% | 4.78% | 5.04% | 4.44% | 3.27% | 1.92% | 2.57% | 3.27% | 3.61% | 2.74% | 2.92% | 2.26% |
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
FIBR and TLT have a correlation of 0.80, 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 FIBR (1.40%). In terms of maximum drawdown, FIBR dropped -18.47% vs TLT's -48.35%.
On 10-year performance, FIBR leads with 2.28% vs -1.66% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, FIBR has been the lower-risk option at 1.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FIBR has performed better with a 2.28% return vs -1.66%. 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 FIBR.
FIBR has the higher dividend yield at 4.62%, compared with 4.59% for TLT.
FIBR is categorized as Intermediate Core-Plus Bond, while TLT is Government Bonds. FIBR tracks Bloomberg U.S. Fixed Income Balanced Risk Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.25% for FIBR and 0.15% for TLT.
FIBR currently has the higher Sharpe Ratio (1.41 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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