IBIK vs. TLT
IBIK (iShares iBonds Oct 2034 Term TIPS ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IBIK is a Inflation-Protected Bonds fund tracking the iBonds Oct 2034 Term TIPS 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, IBIK returned 4.56% vs 4.37% for TLT. Their correlation of 0.83 suggests significant overlap in exposure. IBIK charges 0.10%/yr vs 0.15%/yr for TLT.
Performance
IBIK vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IBIK achieves a 1.32% return, which is significantly lower than TLT's 2.11% return.
IBIK
- 1D
- 0.35%
- 1M
- -0.06%
- YTD
- 1.32%
- 6M
- 1.18%
- 1Y
- 4.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- -0.03%
- 1M
- 3.05%
- YTD
- 2.11%
- 6M
- 1.10%
- 1Y
- 4.37%
- 3Y*
- -1.49%
- 5Y*
- -6.15%
- 10Y*
- -1.85%
IBIK vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIK iShares iBonds Oct 2034 Term TIPS ETF | 1.32% | 8.78% | 1.63% |
TLT iShares 20+ Year Treasury Bond ETF | 2.11% | 4.25% | -1.52% |
Correlation
The correlation between IBIK and TLT is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since May 24, 2024 | 0.83 |
The correlation between IBIK and TLT has been stable across timeframes, ranging from 0.80 to 0.83 - a consistent structural relationship.
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Return for Risk
IBIK vs. TLT — Risk / Return Rank
IBIK
TLT
IBIK vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2034 Term TIPS ETF (IBIK) 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.
| IBIK | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.08 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 0.58 | +1.25 |
| Martin ratioReturn relative to average drawdown | 5.97 | 1.37 | +4.60 |
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Drawdowns
IBIK vs. TLT - Drawdown Comparison
The maximum IBIK drawdown since its inception was -5.59%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IBIK and TLT.
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Drawdown Indicators
| IBIK | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.59% | -48.35% | +42.76% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -7.58% | +5.08% |
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 | -0.79% | -39.01% | +38.22% |
Average DrawdownAverage peak-to-trough decline | -1.24% | -13.88% | +12.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 3.19% | -2.42% |
Volatility
IBIK vs. TLT - Volatility Comparison
The current volatility for iShares iBonds Oct 2034 Term TIPS ETF (IBIK) is 1.58%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.48%. This indicates that IBIK 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
| IBIK | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 2.48% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 6.74% | -3.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.25% | 9.54% | -5.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.36% | 15.82% | -10.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 14.88% | -9.52% |
IBIK vs. TLT - Expense Ratio Comparison
IBIK 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
IBIK vs. TLT - Dividend Comparison
IBIK's dividend yield for the trailing twelve months is around 3.74%, less than TLT's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIK iShares iBonds Oct 2034 Term TIPS ETF | 3.74% | 4.43% | 2.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.48% | 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
IBIK and TLT have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.48%) compared to IBIK (1.58%). In terms of maximum drawdown, IBIK dropped -5.59% vs TLT's -48.35%.
On 1-year performance, IBIK leads with 4.56% vs 4.37% for TLT. On fees, IBIK is cheaper at 0.10% per year. On volatility, IBIK has been the lower-risk option at 1.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIK has performed better with a 4.56% return vs 4.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIK is cheaper with a 0.10% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.48%, compared with 3.74% for IBIK.
IBIK is categorized as Inflation-Protected Bonds, while TLT is Government Bonds. IBIK tracks iBonds Oct 2034 Term TIPS Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.10% for IBIK and 0.15% for TLT.
IBIK currently has the higher Sharpe Ratio (1.08 vs 0.46), 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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