IBTJ vs. TLT
IBTJ (iShares iBonds Dec 2029 Term Treasury ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both Government Bonds funds from iShares - IBTJ tracks the ICE 2029 Maturity US Treasury Index while TLT tracks the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 5 years, IBTJ returned 0.06%/yr vs -6.31%/yr for TLT. Their correlation of 0.83 suggests significant overlap in exposure. IBTJ charges 0.07%/yr vs 0.15%/yr for TLT.
Performance
IBTJ vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBTJ achieves a -0.10% return, which is significantly higher than TLT's -0.27% return.
IBTJ
- 1D
- -0.14%
- 1M
- -0.10%
- YTD
- -0.10%
- 6M
- 0.01%
- 1Y
- 3.49%
- 3Y*
- 3.51%
- 5Y*
- 0.06%
- 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%
IBTJ vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBTJ iShares iBonds Dec 2029 Term Treasury ETF | -0.10% | 6.89% | 1.82% | 4.49% | -12.45% | -3.57% | 3.50% |
TLT iShares 20+ Year Treasury Bond ETF | -0.27% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 2.90% |
Correlation
The correlation between IBTJ and TLT is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020 | 0.83 |
The correlation between IBTJ and TLT has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBTJ vs. TLT — Risk / Return Rank
IBTJ
TLT
IBTJ vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2029 Term Treasury ETF (IBTJ) 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.
| IBTJ | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.09 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 0.65 | +1.51 |
| Martin ratioReturn relative to average drawdown | 6.23 | 1.63 | +4.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IBTJ | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 0.51 | +0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | -0.40 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.02 | 0.26 | -0.27 |
Drawdowns
IBTJ vs. TLT - Drawdown Comparison
The maximum IBTJ drawdown since its inception was -20.19%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IBTJ and TLT.
Loading charts...
Drawdown Indicators
| IBTJ | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.19% | -48.35% | +28.16% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -7.58% | +5.96% |
Max Drawdown (3Y)Largest decline over 3 years | -4.47% | -19.18% | +14.71% |
Max Drawdown (5Y)Largest decline over 5 years | -17.21% | -43.70% | +26.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -6.30% | -40.44% | +34.14% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -13.82% | +4.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 3.04% | -2.48% |
Volatility
IBTJ vs. TLT - Volatility Comparison
The current volatility for iShares iBonds Dec 2029 Term Treasury ETF (IBTJ) is 0.64%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.76%. This indicates that IBTJ 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.
Loading charts...
Volatility by Period
| IBTJ | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 2.76% | -2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.56% | 6.50% | -4.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.43% | 9.77% | -7.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.74% | 15.87% | -10.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.99% | 14.91% | -8.92% |
IBTJ vs. TLT - Expense Ratio Comparison
IBTJ has a 0.07% 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
IBTJ vs. TLT - Dividend Comparison
IBTJ's dividend yield for the trailing twelve months is around 3.81%, less than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTJ iShares iBonds Dec 2029 Term Treasury ETF | 3.81% | 3.78% | 3.95% | 3.48% | 1.86% | 0.74% | 0.61% | 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
IBTJ 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 (2.76%) compared to IBTJ (0.64%). In terms of maximum drawdown, IBTJ dropped -20.19% vs TLT's -48.35%.
On 5-year performance, IBTJ leads with 0.06% vs -6.31% for TLT. On fees, IBTJ is cheaper at 0.07% per year. On volatility, IBTJ has been the lower-risk option at 0.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBTJ has performed better with a 0.06% return vs -6.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTJ is cheaper with a 0.07% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.59%, compared with 3.81% for IBTJ.
IBTJ tracks ICE 2029 Maturity US Treasury Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.07% for IBTJ and 0.15% for TLT.
IBTJ currently has the higher Sharpe Ratio (1.44 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.
Find the right allocation for IBTJ and TLT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer