IEI vs. TLH
IEI (iShares 3-7 Year Treasury Bond ETF) and TLH (iShares 10-20 Year Treasury Bond ETF) are both Government Bonds funds from iShares - IEI tracks the ICE U.S. Treasury 3-7 Year Bond Index while TLH tracks the ICE U.S. Treasury 10-20 Year Bond Index. Both are passively managed. Over the past 10 years, IEI returned 1.28%/yr vs -0.83%/yr for TLH. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.
Performance
IEI vs. TLH - Performance Comparison
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Returns By Period
In the year-to-date period, IEI achieves a -0.42% return, which is significantly higher than TLH's -0.51% return. Over the past 10 years, IEI has outperformed TLH with an annualized return of 1.28%, while TLH has yielded a comparatively lower -0.83% annualized return.
IEI
- 1D
- -0.13%
- 1M
- -0.17%
- YTD
- -0.42%
- 6M
- -0.49%
- 1Y
- 3.28%
- 3Y*
- 3.52%
- 5Y*
- 0.23%
- 10Y*
- 1.28%
TLH
- 1D
- -0.38%
- 1M
- 0.62%
- YTD
- -0.51%
- 6M
- -1.42%
- 1Y
- 5.33%
- 3Y*
- 0.59%
- 5Y*
- -3.80%
- 10Y*
- -0.83%
IEI vs. TLH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | -0.42% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | 1.22% |
TLH iShares 10-20 Year Treasury Bond ETF | -0.51% | 6.47% | -4.21% | 4.03% | -25.24% | -5.38% | 13.78% | 10.11% | 0.37% | 4.21% |
Correlation
The correlation between IEI and TLH is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2007 | 0.87 |
The correlation between IEI and TLH has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.
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Return for Risk
IEI vs. TLH — Risk / Return Rank
IEI
TLH
IEI vs. TLH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 3-7 Year Treasury Bond ETF (IEI) and iShares 10-20 Year Treasury Bond ETF (TLH). 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.
| IEI | TLH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.12 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 0.82 | +0.50 |
| Martin ratioReturn relative to average drawdown | 3.96 | 2.28 | +1.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEI | TLH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 0.67 | +0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | -0.30 | +0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | -0.07 | +0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.28 | +0.42 |
Drawdowns
IEI vs. TLH - Drawdown Comparison
The maximum IEI drawdown since its inception was -14.60%, smaller than the maximum TLH drawdown of -41.14%. Use the drawdown chart below to compare losses from any high point for IEI and TLH.
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Drawdown Indicators
| IEI | TLH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.60% | -41.14% | +26.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -6.50% | +4.00% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | -15.35% | +11.69% |
Max Drawdown (5Y)Largest decline over 5 years | -13.88% | -35.41% | +21.53% |
Max Drawdown (10Y)Largest decline over 10 years | -14.60% | -41.14% | +26.54% |
Current DrawdownCurrent decline from peak | -1.85% | -29.82% | +27.97% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -10.76% | +8.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 2.35% | -1.52% |
Volatility
IEI vs. TLH - Volatility Comparison
The current volatility for iShares 3-7 Year Treasury Bond ETF (IEI) is 0.91%, while iShares 10-20 Year Treasury Bond ETF (TLH) has a volatility of 2.46%. This indicates that IEI experiences smaller price fluctuations and is considered to be less risky than TLH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEI | TLH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 2.46% | -1.55% |
Volatility (6M)Calculated over the trailing 6-month period | 2.13% | 5.49% | -3.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 8.01% | -4.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.77% | 12.70% | -7.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.93% | 11.19% | -7.26% |
IEI vs. TLH - Expense Ratio Comparison
Both IEI and TLH have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IEI vs. TLH - Dividend Comparison
IEI's dividend yield for the trailing twelve months is around 3.64%, less than TLH's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | 3.64% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
TLH iShares 10-20 Year Treasury Bond ETF | 4.48% | 4.17% | 4.28% | 3.83% | 2.78% | 1.50% | 2.65% | 2.31% | 2.17% | 1.83% | 1.91% | 2.13% |
Frequently Asked Questions
IEI and TLH have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLH has higher volatility (2.46%) compared to IEI (0.91%). In terms of maximum drawdown, IEI dropped -14.60% vs TLH's -41.14%.
On 10-year performance, IEI leads with 1.28% vs -0.83% for TLH. Both ETFs have the same 0.15% expense ratio. On volatility, IEI has been the lower-risk option at 0.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IEI has performed better with a 1.28% return vs -0.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEI and TLH have the same expense ratio: 0.15% per year.
TLH has the higher dividend yield at 4.48%, compared with 3.64% for IEI.
IEI tracks ICE U.S. Treasury 3-7 Year Bond Index, while TLH tracks ICE U.S. Treasury 10-20 Year Bond Index.
IEI currently has the higher Sharpe Ratio (1.09 vs 0.67), 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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