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 4.54% vs 4.93% for TLT. At a 0.29 correlation, their price movements are largely independent. 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 2.37% return, which is significantly higher than TLT's -0.27% return.
IBIC
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 2.37%
- 6M
- 2.51%
- 1Y
- 4.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- -0.40%
- 1M
- 0.81%
- YTD
- -0.27%
- 6M
- -2.02%
- 1Y
- 4.93%
- 3Y*
- -1.80%
- 5Y*
- -6.31%
- 10Y*
- -1.66%
IBIC vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.37% | 4.96% | 5.25% | 2.17% |
TLT iShares 20+ Year Treasury Bond ETF | -0.27% | 4.25% | -8.05% | 7.76% |
Correlation
The correlation between IBIC and TLT is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2023 | 0.29 |
The correlation between IBIC and TLT shifts across timeframes, from -0.13 (1 year) to 0.29 (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.
| IBIC | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.54 | ||
| Sortino ratioReturn per unit of downside risk | +8.32 | ||
| Omega ratioGain probability vs. loss probability | 2.24 | 1.09 | +1.15 |
| Calmar ratioReturn relative to maximum drawdown | 17.27 | 0.65 | +16.62 |
| Martin ratioReturn relative to average drawdown | 67.45 | 1.63 | +65.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBIC | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.05 | 0.51 | +4.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.40 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.49 | 0.26 | +3.24 |
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 | -0.26% | -7.58% | +7.32% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.18% | — |
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 | -0.13% | -40.44% | +40.31% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -13.82% | +13.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 3.04% | -2.97% |
Volatility
IBIC vs. TLT - Volatility Comparison
The current volatility for iShares iBonds Oct 2026 Term TIPS ETF (IBIC) is 0.33%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.76%. 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 | 0.33% | 2.76% | -2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 0.67% | 6.50% | -5.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.90% | 9.77% | -8.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.58% | 15.87% | -14.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 14.91% | -13.33% |
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 3.59%, less than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.59% | 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 | 4.59% | 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 -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.76%) compared to IBIC (0.33%). In terms of maximum drawdown, IBIC dropped -0.90% vs TLT's -48.35%.
On 1-year performance, TLT leads with 4.93% vs 4.54% for IBIC. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TLT has performed better with a 4.93% return vs 4.54%. 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 4.59%, compared with 3.59% 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 (5.05 vs 0.51), 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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