FIGB vs. TLT
FIGB (Fidelity Investment Grade Bond ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - FIGB is a Intermediate Core Bond fund actively managed by Fidelity, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. FIGB is actively managed, while TLT is passively managed. Over the past 5 years, FIGB returned -0.31%/yr vs -8.18%/yr for TLT. Their correlation of 0.85 means they have usually moved in the same direction. FIGB charges 0.36%/yr vs 0.15%/yr for TLT.
Performance
FIGB vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, FIGB achieves a -0.85% return, which is significantly higher than TLT's -3.49% return.
FIGB
- 1D
- -0.43%
- 1M
- -1.29%
- 6M
- -0.90%
- YTD
- -0.85%
- 1Y
- 1.46%
- 3Y*
- 3.89%
- 5Y*
- -0.31%
- 10Y*
- —
- ALL TIME*
- 0.13%
TLT
- 1D
- -0.66%
- 1M
- -3.81%
- 6M
- -3.46%
- YTD
- -3.49%
- 1Y
- -2.45%
- 3Y*
- -1.80%
- 5Y*
- -8.18%
- 10Y*
- -2.38%
- ALL TIME*
- 3.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.87M | $8.65M | $4.89M | |
| $2.33B | $2.02B | $2.19B |
FIGB vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FIGB Fidelity Investment Grade Bond ETF | -0.85% | 6.95% | 1.51% | 6.65% | -13.43% | 1.32% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 4.25% | -8.05% | 2.77% | -31.23% | 7.58% |
Correlation
The correlation between FIGB and TLT is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2021 | 0.85 |
The correlation between FIGB and TLT has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.
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Return for Risk
FIGB vs. TLT — Risk / Return Rank
FIGB
TLT
FIGB vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Bond ETF (FIGB) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FIGB | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.99 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | -0.14 | +0.95 |
| Martin ratioReturn relative to average drawdown | 2.09 | -0.30 | +2.39 |
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Drawdowns
FIGB vs. TLT - Drawdown Comparison
The maximum FIGB drawdown since its inception was -18.08%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for FIGB and TLT.
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Drawdown Indicators
| FIGB | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.08% | -48.35% | +30.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -7.74% | +4.81% |
Max Drawdown (3Y)Largest decline over 3 years | -5.05% | -14.79% | +9.74% |
Max Drawdown (5Y)Largest decline over 5 years | -18.08% | -43.70% | +25.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -2.58% | -42.36% | +39.78% |
Average DrawdownAverage peak-to-trough decline | -6.77% | -13.99% | +7.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 3.57% | -2.44% |
Volatility
FIGB vs. TLT - Volatility Comparison
The current volatility for Fidelity Investment Grade Bond ETF (FIGB) is 1.22%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.46%. This indicates that FIGB 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
| FIGB | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 2.46% | -1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 3.12% | 6.85% | -3.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 9.32% | -5.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.29% | 15.74% | -9.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.12% | 14.83% | -8.71% |
FIGB vs. TLT - Expense Ratio Comparison
FIGB has a 0.36% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
FIGB vs. TLT - Dividend Comparison
FIGB's dividend yield for the trailing twelve months is around 4.15%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIGB Fidelity Investment Grade Bond ETF | 4.15% | 4.15% | 4.28% | 3.79% | 2.44% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.34% | 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
FIGB and TLT have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.46%) compared to FIGB (1.22%). In terms of maximum drawdown, FIGB dropped -18.08% vs TLT's -48.35%.
On 5-year performance, FIGB leads with -0.31% vs -8.18% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, FIGB has been the lower-risk option at 1.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FIGB has performed better with a -0.31% return vs -8.18%. 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 0.36% for FIGB.
TLT has the higher dividend yield at 4.34%, compared with 4.15% for FIGB.
FIGB is categorized as Intermediate Core Bond, while TLT is Government Bonds. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.36% for FIGB and 0.15% for TLT.
FIGB currently has the higher Sharpe Ratio (0.59 vs -0.11), 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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