IBRN vs. TLT
IBRN (iShares Neuroscience and Healthcare ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IBRN is a Health & Biotech Equities fund tracking the NYSE FactSet Global Neuro Biopharma and MedTech 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 3 years, IBRN returned 14.57%/yr vs -1.80%/yr for TLT. Their 0.17 correlation means their historical movements had little consistent relationship. IBRN charges 0.47%/yr vs 0.15%/yr for TLT.
Performance
IBRN vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IBRN achieves a 13.26% return, which is significantly higher than TLT's -3.49% return.
IBRN
- 1D
- -3.24%
- 1M
- -6.28%
- 6M
- 12.31%
- YTD
- 13.26%
- 1Y
- 59.23%
- 3Y*
- 14.57%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.28%
TLT
- 1D
- -0.66%
- 1M
- -3.81%
- 6M
- -3.46%
- YTD
- -3.49%
- 1Y
- -2.45%
- 3Y*
- -1.80%
- 5Y*
- -8.18%
- 10Y*
- -2.38%
- ALL TIME*
- 3.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $83.61K | $123.63K | $97.37K | |
| $2.33B | $2.02B | $2.19B |
IBRN vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBRN iShares Neuroscience and Healthcare ETF | 13.26% | 28.49% | -2.78% | 0.92% | 2.87% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 4.25% | -8.05% | 2.77% | -10.67% |
Correlation
The correlation between IBRN and TLT is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (All Time) Calculated using the full available price history since Aug 26, 2022 | 0.17 |
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Return for Risk
IBRN vs. TLT — Risk / Return Rank
IBRN
TLT
IBRN vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Neuroscience and Healthcare ETF (IBRN) 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.
| IBRN | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.41 | ||
| Sortino ratioReturn per unit of downside risk | +3.20 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.99 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 6.42 | -0.14 | +6.56 |
| Martin ratioReturn relative to average drawdown | 16.74 | -0.30 | +17.04 |
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Drawdowns
IBRN vs. TLT - Drawdown Comparison
The maximum IBRN drawdown since its inception was -35.38%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IBRN and TLT.
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Drawdown Indicators
| IBRN | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.38% | -48.35% | +12.97% |
Max Drawdown (1Y)Largest decline over 1 year | -9.15% | -7.74% | -1.41% |
Max Drawdown (3Y)Largest decline over 3 years | -35.38% | -14.79% | -20.59% |
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 | -9.15% | -42.36% | +33.21% |
Average DrawdownAverage peak-to-trough decline | -9.59% | -13.99% | +4.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 3.57% | -0.07% |
Volatility
IBRN vs. TLT - Volatility Comparison
iShares Neuroscience and Healthcare ETF (IBRN) has a higher volatility of 7.68% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.46%. This indicates that IBRN's price experiences larger fluctuations and is considered to be riskier 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
| IBRN | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.68% | 2.46% | +5.22% |
Volatility (6M)Calculated over the trailing 6-month period | 19.64% | 6.85% | +12.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.61% | 9.32% | +16.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.34% | 15.74% | +9.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.34% | 14.83% | +10.51% |
IBRN vs. TLT - Expense Ratio Comparison
IBRN has a 0.47% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
IBRN vs. TLT - Dividend Comparison
IBRN's dividend yield for the trailing twelve months is around 0.87%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBRN iShares Neuroscience and Healthcare ETF | 0.87% | 0.99% | 0.40% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.34% | 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
IBRN and TLT have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBRN has higher volatility (7.68%) compared to TLT (2.46%). In terms of maximum drawdown, IBRN dropped -35.38% vs TLT's -48.35%.
On 3-year performance, IBRN leads with 14.57% vs -1.80% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IBRN has performed better with a 14.57% return vs -1.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.47% for IBRN.
TLT has the higher dividend yield at 4.34%, compared with 0.87% for IBRN.
IBRN is categorized as Health & Biotech Equities, while TLT is Government Bonds. IBRN tracks NYSE FactSet Global Neuro Biopharma and MedTech Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.47% for IBRN and 0.15% for TLT.
IBRN currently has the higher Sharpe Ratio (2.29 vs -0.11), 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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