FLIA vs. TLT
FLIA (Franklin Liberty International Aggregate Bond ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - FLIA is a International Government Bonds fund actively managed by Franklin Templeton, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. FLIA is actively managed, while TLT is passively managed. Over the past 5 years, FLIA returned 1.01%/yr vs -6.59%/yr for TLT. A 0.53 correlation means they provide meaningful diversification when combined. FLIA charges 0.25%/yr vs 0.15%/yr for TLT.
Performance
FLIA vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FLIA achieves a 1.68% return, which is significantly higher than TLT's 0.64% return.
FLIA
- 1D
- 0.02%
- 1M
- 0.83%
- YTD
- 1.68%
- 6M
- 1.78%
- 1Y
- 2.80%
- 3Y*
- 3.51%
- 5Y*
- 1.01%
- 10Y*
- —
TLT
- 1D
- -0.76%
- 1M
- 2.06%
- YTD
- 0.64%
- 6M
- 0.41%
- 1Y
- 4.08%
- 3Y*
- -1.93%
- 5Y*
- -6.59%
- 10Y*
- -1.75%
FLIA vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLIA Franklin Liberty International Aggregate Bond ETF | 1.68% | 2.12% | 2.42% | 7.17% | -7.68% | -1.98% | 1.37% | 7.58% | -2.32% |
TLT iShares 20+ Year Treasury Bond ETF | 0.64% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | 2.10% |
Correlation
The correlation between FLIA and TLT is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2018 | 0.53 |
The correlation between FLIA and TLT shifts across timeframes, from 0.53 (all time) to 0.64 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FLIA vs. TLT — Risk / Return Rank
FLIA
TLT
FLIA vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty International Aggregate Bond ETF (FLIA) 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.
| FLIA | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.08 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.38 | 0.54 | +0.84 |
| Martin ratioReturn relative to average drawdown | 3.62 | 1.29 | +2.34 |
Loading charts...
Drawdowns
FLIA vs. TLT - Drawdown Comparison
The maximum FLIA drawdown since its inception was -11.24%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for FLIA and TLT.
Loading charts...
Drawdown Indicators
| FLIA | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.24% | -48.35% | +37.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.04% | -7.58% | +5.54% |
Max Drawdown (3Y)Largest decline over 3 years | -2.77% | -19.18% | +16.41% |
Max Drawdown (5Y)Largest decline over 5 years | -9.42% | -43.70% | +34.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -0.15% | -39.89% | +39.74% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -13.87% | +10.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 3.17% | -2.39% |
Volatility
FLIA vs. TLT - Volatility Comparison
The current volatility for Franklin Liberty International Aggregate Bond ETF (FLIA) is 0.64%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.21%. This indicates that FLIA 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.
Loading charts...
Volatility by Period
| FLIA | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 2.21% | -1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 2.50% | 6.63% | -4.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.32% | 9.50% | -6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.42% | 15.82% | -11.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 14.91% | -10.21% |
FLIA vs. TLT - Expense Ratio Comparison
FLIA 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
FLIA vs. TLT - Dividend Comparison
FLIA's dividend yield for the trailing twelve months is around 2.68%, less than TLT's 4.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLIA Franklin Liberty International Aggregate Bond ETF | 2.68% | 2.62% | 2.97% | 0.93% | 18.12% | 2.26% | 0.43% | 2.93% | 1.23% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.55% | 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
FLIA and TLT have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.21%) compared to FLIA (0.64%). In terms of maximum drawdown, FLIA dropped -11.24% vs TLT's -48.35%.
On 5-year performance, FLIA leads with 1.01% vs -6.59% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, FLIA has been the lower-risk option at 0.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLIA has performed better with a 1.01% return vs -6.59%. 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 FLIA.
TLT has the higher dividend yield at 4.55%, compared with 2.68% for FLIA.
FLIA is categorized as International Government Bonds, while TLT is Government Bonds. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.25% for FLIA and 0.15% for TLT.
FLIA currently has the higher Sharpe Ratio (0.85 vs 0.43), 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.
Find the right allocation for FLIA and TLT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer