IBDV vs. TLT
IBDV (iShares iBonds Dec 2030 Term Corporate ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IBDV is a Corporate Bonds fund tracking the Bloomberg December 2030 Maturity Corporate 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 5 years, IBDV returned 0.47%/yr vs -8.10%/yr for TLT. Their 0.79 correlation means they have sometimes moved together and sometimes differently. IBDV charges 0.10%/yr vs 0.15%/yr for TLT.
Performance
IBDV vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IBDV achieves a 0.57% return, which is significantly higher than TLT's -2.43% return.
IBDV
- 1D
- 0.23%
- 1M
- -0.08%
- 6M
- 0.38%
- YTD
- 0.57%
- 1Y
- 2.77%
- 3Y*
- 5.85%
- 5Y*
- 0.47%
- 10Y*
- —
- ALL TIME*
- 1.07%
TLT
- 1D
- 0.77%
- 1M
- -2.76%
- 6M
- -2.36%
- YTD
- -2.43%
- 1Y
- -1.64%
- 3Y*
- -0.90%
- 5Y*
- -8.10%
- 10Y*
- -2.25%
- ALL TIME*
- 3.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.72M | $14.52M | $14.25M | |
| $2.59B | $2.11B | $2.22B |
IBDV vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBDV iShares iBonds Dec 2030 Term Corporate ETF | 0.57% | 8.19% | 3.42% | 8.51% | -14.67% | -2.64% | 5.22% |
TLT iShares 20+ Year Treasury Bond ETF | -2.43% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | -2.51% |
Correlation
The correlation between IBDV and TLT is 0.73, 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. | 0.73 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2020 | 0.79 |
The correlation between IBDV and TLT has been stable across timeframes, ranging from 0.73 to 0.81 - a consistent structural relationship.
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Return for Risk
IBDV vs. TLT — Risk / Return Rank
IBDV
TLT
IBDV vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2030 Term Corporate ETF (IBDV) 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.
| IBDV | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.98 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | -0.21 | +1.56 |
| Martin ratioReturn relative to average drawdown | 4.03 | -0.45 | +4.49 |
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Drawdowns
IBDV vs. TLT - Drawdown Comparison
The maximum IBDV drawdown since its inception was -21.85%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IBDV and TLT.
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Drawdown Indicators
| IBDV | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.85% | -48.35% | +26.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.07% | -7.74% | +5.67% |
Max Drawdown (3Y)Largest decline over 3 years | -4.70% | -14.79% | +10.09% |
Max Drawdown (5Y)Largest decline over 5 years | -21.18% | -43.70% | +22.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -0.66% | -41.73% | +41.07% |
Average DrawdownAverage peak-to-trough decline | -7.04% | -14.00% | +6.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 3.63% | -2.94% |
Volatility
IBDV vs. TLT - Volatility Comparison
The current volatility for iShares iBonds Dec 2030 Term Corporate ETF (IBDV) is 0.79%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.67%. This indicates that IBDV 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
| IBDV | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 2.67% | -1.88% |
Volatility (6M)Calculated over the trailing 6-month period | 2.16% | 6.88% | -4.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.75% | 9.25% | -6.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.41% | 15.75% | -9.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.20% | 14.83% | -8.63% |
IBDV vs. TLT - Expense Ratio Comparison
IBDV has a 0.10% 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
IBDV vs. TLT - Dividend Comparison
IBDV's dividend yield for the trailing twelve months is around 4.59%, less than TLT's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBDV iShares iBonds Dec 2030 Term Corporate ETF | 4.59% | 4.57% | 4.69% | 4.09% | 3.02% | 1.99% | 0.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.71% | 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
IBDV and TLT have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.67%) compared to IBDV (0.79%). In terms of maximum drawdown, IBDV dropped -21.85% vs TLT's -48.35%.
On 5-year performance, IBDV leads with 0.47% vs -8.10% for TLT. On fees, IBDV is cheaper at 0.10% per year. On volatility, IBDV has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBDV has performed better with a 0.47% return vs -8.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBDV is cheaper with a 0.10% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.71%, compared with 4.59% for IBDV.
IBDV is categorized as Corporate Bonds, while TLT is Government Bonds. IBDV tracks Bloomberg December 2030 Maturity Corporate Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.10% for IBDV and 0.15% for TLT.
IBDV currently has the higher Sharpe Ratio (1.01 vs -0.18), 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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