IAGG vs. TLT
IAGG (iShares Core International Aggregate Bond ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IAGG is a Global Bonds fund tracking the Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) 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, IAGG returned 1.97%/yr vs -2.38%/yr for TLT. Their 0.69 correlation means they have sometimes moved together and sometimes differently. IAGG charges 0.07%/yr vs 0.15%/yr for TLT.
Performance
IAGG vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IAGG achieves a 0.90% return, which is significantly higher than TLT's -3.49% return. Over the past 10 years, IAGG has outperformed TLT with an annualized return of 1.97%, while TLT has yielded a comparatively lower -2.38% annualized return.
IAGG
- 1D
- -0.16%
- 1M
- -0.76%
- 6M
- 0.32%
- YTD
- 0.90%
- 1Y
- 1.61%
- 3Y*
- 4.51%
- 5Y*
- 0.79%
- 10Y*
- 1.97%
- ALL TIME*
- 2.43%
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) |
|---|---|---|---|
| $86.19M | $66.39M | $104.80M | |
| $2.33B | $2.02B | $2.19B |
IAGG vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAGG iShares Core International Aggregate Bond ETF | 0.90% | 3.26% | 4.51% | 8.49% | -10.86% | -1.87% | 4.63% | 7.99% | 3.38% | 2.09% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between IAGG and TLT is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.76 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2015 | 0.69 |
The correlation between IAGG and TLT has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.
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Return for Risk
IAGG vs. TLT — Risk / Return Rank
IAGG
TLT
IAGG vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core International Aggregate Bond ETF (IAGG) 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.
| IAGG | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.99 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | -0.14 | +0.96 |
| Martin ratioReturn relative to average drawdown | 2.34 | -0.30 | +2.64 |
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Drawdowns
IAGG vs. TLT - Drawdown Comparison
The maximum IAGG drawdown since its inception was -13.88%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IAGG and TLT.
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Drawdown Indicators
| IAGG | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.88% | -48.35% | +34.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.32% | -7.74% | +5.42% |
Max Drawdown (3Y)Largest decline over 3 years | -2.32% | -14.79% | +12.47% |
Max Drawdown (5Y)Largest decline over 5 years | -13.57% | -43.70% | +30.13% |
Max Drawdown (10Y)Largest decline over 10 years | -13.88% | -48.35% | +34.47% |
Current DrawdownCurrent decline from peak | -1.00% | -42.36% | +41.36% |
Average DrawdownAverage peak-to-trough decline | -2.81% | -13.99% | +11.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 3.57% | -2.75% |
Volatility
IAGG vs. TLT - Volatility Comparison
The current volatility for iShares Core International Aggregate Bond ETF (IAGG) is 0.82%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.46%. This indicates that IAGG 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
| IAGG | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 2.46% | -1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 6.85% | -4.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.90% | 9.32% | -6.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.51% | 15.74% | -11.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.03% | 14.83% | -10.80% |
IAGG vs. TLT - Expense Ratio Comparison
IAGG has a 0.07% 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
IAGG vs. TLT - Dividend Comparison
IAGG's dividend yield for the trailing twelve months is around 4.53%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAGG iShares Core International Aggregate Bond ETF | 4.53% | 3.08% | 4.28% | 3.55% | 2.27% | 1.16% | 1.95% | 2.82% | 3.02% | 1.74% | 1.56% | 0.13% |
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
IAGG and TLT have a correlation of 0.75, 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 IAGG (0.82%). In terms of maximum drawdown, IAGG dropped -13.88% vs TLT's -48.35%.
On 10-year performance, IAGG leads with 1.97% vs -2.38% for TLT. On fees, IAGG is cheaper at 0.07% per year. On volatility, IAGG has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IAGG has performed better with a 1.97% return vs -2.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAGG is cheaper with a 0.07% expense ratio, compared with 0.15% for TLT.
IAGG has the higher dividend yield at 4.53%, compared with 4.34% for TLT.
IAGG is categorized as Global Bonds, while TLT is Government Bonds. IAGG tracks Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.07% for IAGG and 0.15% for TLT.
IAGG currently has the higher Sharpe Ratio (0.66 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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