HYGI vs. TLT
HYGI (iShares Inflation Hedged High Yield Bond ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Their 0.32 correlation means their historical movements had little consistent relationship. HYGI charges 0.52%/yr vs 0.15%/yr for TLT.
Performance
HYGI vs. TLT - Performance Comparison
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Returns By Period
HYGI
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
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) |
|---|---|---|---|
| $2.33B | $2.02B | $2.19B |
HYGI vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.00% | 6.20% | 9.16% | 11.71% | 0.65% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 4.25% | -8.05% | 2.77% | -11.41% |
Correlation
The correlation between HYGI and TLT is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022 | 0.32 |
The correlation between HYGI and TLT shifts across timeframes, from -0.02 (1 year) to 0.34 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYGI vs. TLT — Risk / Return Rank
HYGI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TLT
HYGI vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Inflation Hedged High Yield Bond ETF (HYGI) 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.
| HYGI | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.99 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.14 | — |
| Martin ratioReturn relative to average drawdown | — | -0.30 | — |
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Drawdowns
HYGI vs. TLT - Drawdown Comparison
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Drawdown Indicators
| HYGI | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -48.35% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.74% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.79% | — |
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 | — | -42.36% | — |
Average DrawdownAverage peak-to-trough decline | — | -13.99% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.57% | — |
Volatility
HYGI vs. TLT - Volatility Comparison
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Volatility by Period
| HYGI | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.46% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 6.85% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 9.32% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 15.74% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 14.83% | — |
HYGI vs. TLT - Expense Ratio Comparison
HYGI has a 0.52% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
HYGI vs. TLT - Dividend Comparison
HYGI has not paid dividends to shareholders, while TLT's dividend yield for the trailing twelve months is around 4.75%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.50% | 3.41% | 6.08% | 6.22% | 3.19% | 0.00% | 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
HYGI and TLT have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TLT is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLT is cheaper with a 0.15% expense ratio, compared with 0.52% for HYGI.
TLT has the higher dividend yield at 4.34%, compared with 0.50% for HYGI.
HYGI is categorized as Inflation-Protected Bonds, while TLT is Government Bonds. HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.52% for HYGI and 0.15% for TLT.
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