IAK vs. TLT
IAK (iShares U.S. Insurance ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance 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, IAK returned 13.18%/yr vs -2.33%/yr for TLT. Their -0.30 correlation means they have often moved in opposite directions in the past. IAK charges 0.38%/yr vs 0.15%/yr for TLT.
Performance
IAK vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IAK achieves a 10.11% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, IAK has outperformed TLT with an annualized return of 13.18%, while TLT has yielded a comparatively lower -2.33% annualized return.
IAK
- 1D
- 0.03%
- 1M
- -0.03%
- 6M
- 12.56%
- YTD
- 10.11%
- 1Y
- 19.67%
- 3Y*
- 19.67%
- 5Y*
- 15.99%
- 10Y*
- 13.18%
- ALL TIME*
- 7.39%
TLT
- 1D
- 0.33%
- 1M
- -3.49%
- 6M
- -2.86%
- YTD
- -3.18%
- 1Y
- -2.12%
- 3Y*
- -1.15%
- 5Y*
- -8.33%
- 10Y*
- -2.33%
- ALL TIME*
- 3.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $15.27M | $20.59M | $12.29M | |
| $2.39B | $2.06B | $2.20B |
IAK vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAK iShares U.S. Insurance ETF | 10.11% | 9.50% | 28.25% | 11.28% | 11.33% | 26.84% | -2.86% | 25.94% | -11.48% | 14.18% |
TLT iShares 20+ Year Treasury Bond ETF | -3.18% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between IAK and TLT is 0.10, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.03 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.19 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | -0.30 |
The correlation between IAK and TLT shifts across timeframes, from -0.30 (all time) to 0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IAK vs. TLT — Risk / Return Rank
IAK
TLT
IAK vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) 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.
| IAK | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.97 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | -0.28 | +2.87 |
| Martin ratioReturn relative to average drawdown | 6.29 | -0.59 | +6.89 |
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Drawdowns
IAK vs. TLT - Drawdown Comparison
The maximum IAK drawdown since its inception was -77.38%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IAK and TLT.
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Drawdown Indicators
| IAK | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.38% | -48.35% | -29.03% |
Max Drawdown (1Y)Largest decline over 1 year | -7.62% | -7.74% | +0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -11.58% | -14.79% | +3.21% |
Max Drawdown (5Y)Largest decline over 5 years | -14.76% | -43.70% | +28.94% |
Max Drawdown (10Y)Largest decline over 10 years | -44.95% | -48.35% | +3.40% |
Current DrawdownCurrent decline from peak | -3.20% | -42.17% | +38.97% |
Average DrawdownAverage peak-to-trough decline | -16.01% | -14.00% | -2.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 3.60% | -0.47% |
Volatility
IAK vs. TLT - Volatility Comparison
iShares U.S. Insurance ETF (IAK) has a higher volatility of 6.56% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that IAK's price experiences larger fluctuations and is considered to be riskier 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
| IAK | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.56% | 2.51% | +4.05% |
Volatility (6M)Calculated over the trailing 6-month period | 12.42% | 6.84% | +5.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.99% | 9.24% | +6.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.13% | 15.74% | +2.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.92% | 14.83% | +6.09% |
IAK vs. TLT - Expense Ratio Comparison
IAK has a 0.38% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
IAK vs. TLT - Dividend Comparison
IAK's dividend yield for the trailing twelve months is around 2.42%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAK iShares U.S. Insurance ETF | 2.42% | 1.69% | 1.49% | 1.44% | 1.69% | 2.26% | 2.07% | 1.84% | 2.33% | 1.62% | 1.68% | 1.62% |
TLT iShares 20+ Year Treasury Bond ETF | 4.75% | 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
IAK and TLT have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAK has higher volatility (6.56%) compared to TLT (2.51%). In terms of maximum drawdown, IAK dropped -77.38% vs TLT's -48.35%.
On 10-year performance, IAK leads with 13.18% vs -2.33% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IAK has performed better with a 13.18% return vs -2.33%. 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 0.38% for IAK.
TLT has the higher dividend yield at 4.75%, compared with 2.42% for IAK.
IAK is categorized as Financials Equities, while TLT is Government Bonds. IAK tracks Dow Jones U.S. Select Insurance Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.38% for IAK and 0.15% for TLT.
IAK currently has the higher Sharpe Ratio (1.24 vs -0.23), 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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