IBIL vs. TLT
IBIL (iShares iBonds Oct 2035 Term TIPS ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IBIL is a Inflation-Protected Bonds fund tracking the ICE 2035 Maturity US Treasury 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, IBIL returned 2.51% vs -1.64% for TLT. Their 0.74 correlation means they have sometimes moved together and sometimes differently. IBIL charges 0.10%/yr vs 0.15%/yr for TLT.
Performance
IBIL vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IBIL achieves a 0.60% return, which is significantly higher than TLT's -2.43% return.
IBIL
- 1D
- 0.13%
- 1M
- -0.59%
- 6M
- 0.56%
- YTD
- 0.60%
- 1Y
- 2.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.96%
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) |
|---|---|---|---|
| $384.77K | $347.69K | $275.27K | |
| $2.59B | $2.11B | $2.22B |
IBIL vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBIL iShares iBonds Oct 2035 Term TIPS ETF | 0.60% | 4.77% |
TLT iShares 20+ Year Treasury Bond ETF | -2.43% | 0.75% |
Correlation
The correlation between IBIL 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 (All Time) Calculated using the full available price history since Mar 26, 2025 | 0.74 |
The correlation between IBIL and TLT has been stable across timeframes, ranging from 0.73 to 0.74 - a consistent structural relationship.
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Return for Risk
IBIL vs. TLT — Risk / Return Rank
IBIL
TLT
IBIL vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2035 Term TIPS ETF (IBIL) 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.
| IBIL | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.98 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | -0.21 | +1.13 |
| Martin ratioReturn relative to average drawdown | 2.03 | -0.45 | +2.48 |
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Drawdowns
IBIL vs. TLT - Drawdown Comparison
The maximum IBIL drawdown since its inception was -5.28%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IBIL and TLT.
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Drawdown Indicators
| IBIL | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.28% | -48.35% | +43.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -7.74% | +4.98% |
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 | -1.62% | -41.73% | +40.11% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -14.00% | +12.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 3.63% | -2.39% |
Volatility
IBIL vs. TLT - Volatility Comparison
The current volatility for iShares iBonds Oct 2035 Term TIPS ETF (IBIL) is 1.01%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.67%. This indicates that IBIL 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
| IBIL | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 2.67% | -1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 3.30% | 6.88% | -3.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.55% | 9.25% | -3.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.85% | 15.75% | -7.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.85% | 14.83% | -6.98% |
IBIL vs. TLT - Expense Ratio Comparison
IBIL 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
IBIL vs. TLT - Dividend Comparison
IBIL's dividend yield for the trailing twelve months is around 5.14%, more than TLT's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIL iShares iBonds Oct 2035 Term TIPS ETF | 5.14% | 2.93% | 0.00% | 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 | 4.71% | 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
IBIL 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 IBIL (1.01%). In terms of maximum drawdown, IBIL dropped -5.28% vs TLT's -48.35%.
On 1-year performance, IBIL leads with 2.51% vs -1.64% for TLT. On fees, IBIL is cheaper at 0.10% per year. On volatility, IBIL has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIL has performed better with a 2.51% return vs -1.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIL is cheaper with a 0.10% expense ratio, compared with 0.15% for TLT.
IBIL has the higher dividend yield at 5.14%, compared with 4.71% for TLT.
IBIL is categorized as Inflation-Protected Bonds, while TLT is Government Bonds. IBIL tracks ICE 2035 Maturity US Treasury TIPS Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.10% for IBIL and 0.15% for TLT.
IBIL currently has the higher Sharpe Ratio (0.46 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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