IDEF vs. TLT
IDEF (iShares Defense Industrials Active ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IDEF is a Aerospace & Defense fund actively managed by iShares, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. IDEF is actively managed, while TLT is passively managed. Over the past year, IDEF returned 13.32% vs -2.45% for TLT. Their 0.20 correlation means their historical movements had little consistent relationship. IDEF charges 0.55%/yr vs 0.15%/yr for TLT.
Performance
IDEF vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IDEF achieves a 5.28% return, which is significantly higher than TLT's -3.49% return.
IDEF
- 1D
- 0.33%
- 1M
- -1.85%
- 6M
- -6.23%
- YTD
- 5.28%
- 1Y
- 13.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 22.90%
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) |
|---|---|---|---|
| $16.78M | $18.59M | $29.23M | |
| $2.33B | $2.02B | $2.19B |
IDEF vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IDEF iShares Defense Industrials Active ETF | 5.28% | 21.50% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 5.09% |
Correlation
The correlation between IDEF and TLT is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (All Time) Calculated using the full available price history since May 21, 2025 | 0.20 |
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Return for Risk
IDEF vs. TLT — Risk / Return Rank
IDEF
TLT
IDEF vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Defense Industrials Active ETF (IDEF) 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.
| IDEF | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.99 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | -0.14 | +0.94 |
| Martin ratioReturn relative to average drawdown | 1.65 | -0.30 | +1.95 |
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Drawdowns
IDEF vs. TLT - Drawdown Comparison
The maximum IDEF drawdown since its inception was -15.78%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IDEF and TLT.
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Drawdown Indicators
| IDEF | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.78% | -48.35% | +32.57% |
Max Drawdown (1Y)Largest decline over 1 year | -15.78% | -7.74% | -8.04% |
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 | -11.86% | -42.36% | +30.50% |
Average DrawdownAverage peak-to-trough decline | -5.11% | -13.99% | +8.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.67% | 3.57% | +4.10% |
Volatility
IDEF vs. TLT - Volatility Comparison
iShares Defense Industrials Active ETF (IDEF) has a higher volatility of 7.10% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.46%. This indicates that IDEF'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
| IDEF | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.10% | 2.46% | +4.64% |
Volatility (6M)Calculated over the trailing 6-month period | 18.86% | 6.85% | +12.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.81% | 9.32% | +13.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.65% | 15.74% | +5.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.65% | 14.83% | +6.82% |
IDEF vs. TLT - Expense Ratio Comparison
IDEF has a 0.55% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
IDEF vs. TLT - Dividend Comparison
IDEF's dividend yield for the trailing twelve months is around 0.33%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IDEF iShares Defense Industrials Active ETF | 0.33% | 0.17% | 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 | 4.34% | 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
IDEF and TLT have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IDEF has higher volatility (7.10%) compared to TLT (2.46%). In terms of maximum drawdown, IDEF dropped -15.78% vs TLT's -48.35%.
On 1-year performance, IDEF leads with 13.32% vs -2.45% 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 1-year period, IDEF has performed better with a 13.32% return vs -2.45%. 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 0.55% for IDEF.
TLT has the higher dividend yield at 4.34%, compared with 0.33% for IDEF.
IDEF is categorized as Aerospace & Defense, while TLT is Government Bonds. Their fees differ too: 0.55% for IDEF and 0.15% for TLT.
IDEF currently has the higher Sharpe Ratio (0.56 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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