IBIC vs. TLT
IBIC (iShares iBonds Oct 2026 Term TIPS ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury 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 year, IBIC returned 4.02% vs -1.64% for TLT. Their 0.26 correlation means their historical movements had little consistent relationship. IBIC charges 0.10%/yr vs 0.15%/yr for TLT.
Performance
IBIC vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IBIC achieves a 2.67% return, which is significantly higher than TLT's -2.43% return.
IBIC
- 1D
- 0.00%
- 1M
- 0.21%
- 6M
- 2.37%
- YTD
- 2.67%
- 1Y
- 4.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.24%
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) |
|---|---|---|---|
| $1.04M | $809.24K | $530.96K | |
| $2.59B | $2.11B | $2.22B |
IBIC vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.67% | 4.96% | 5.25% | 2.17% |
TLT iShares 20+ Year Treasury Bond ETF | -2.43% | 4.25% | -8.05% | 7.10% |
Correlation
The correlation between IBIC and TLT is -0.19, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.19 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | 0.26 |
The correlation between IBIC and TLT shifts across timeframes, from -0.19 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBIC vs. TLT — Risk / Return Rank
IBIC
TLT
IBIC vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2026 Term TIPS ETF (IBIC) 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.
| IBIC | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.75 | ||
| Sortino ratioReturn per unit of downside risk | +8.27 | ||
| Omega ratioGain probability vs. loss probability | 2.09 | 0.98 | +1.11 |
| Calmar ratioReturn relative to maximum drawdown | 15.07 | -0.21 | +15.29 |
| Martin ratioReturn relative to average drawdown | 51.54 | -0.45 | +52.00 |
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Drawdowns
IBIC vs. TLT - Drawdown Comparison
The maximum IBIC drawdown since its inception was -0.90%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IBIC and TLT.
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Drawdown Indicators
| IBIC | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.90% | -48.35% | +47.45% |
Max Drawdown (1Y)Largest decline over 1 year | -0.27% | -7.74% | +7.47% |
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 | -0.08% | -41.73% | +41.65% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -14.00% | +13.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 3.63% | -3.55% |
Volatility
IBIC vs. TLT - Volatility Comparison
The current volatility for iShares iBonds Oct 2026 Term TIPS ETF (IBIC) is 0.23%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.67%. This indicates that IBIC 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
| IBIC | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.23% | 2.67% | -2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 0.69% | 6.88% | -6.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.89% | 9.25% | -8.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.54% | 15.75% | -14.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.54% | 14.83% | -13.29% |
IBIC vs. TLT - Expense Ratio Comparison
IBIC 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
IBIC vs. TLT - Dividend Comparison
IBIC's dividend yield for the trailing twelve months is around 4.62%, less than TLT's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 4.62% | 4.43% | 4.65% | 0.83% | 0.00% | 0.00% | 0.00% | 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
IBIC and TLT have a correlation of -0.19, 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 IBIC (0.23%). In terms of maximum drawdown, IBIC dropped -0.90% vs TLT's -48.35%.
On 1-year performance, IBIC leads with 4.02% vs -1.64% for TLT. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIC has performed better with a 4.02% return vs -1.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC 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 4.62% for IBIC.
IBIC is categorized as Inflation-Protected Bonds, while TLT is Government Bonds. IBIC tracks ICE 2026 Maturity US Inflation-Linked Treasury Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.10% for IBIC and 0.15% for TLT.
IBIC currently has the higher Sharpe Ratio (4.57 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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