IGE vs. TLT
IGE (iShares North American Natural Resources ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IGE is a Energy Equities fund tracking the S&P North American Natural Resources Sector 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 10 years, IGE returned 9.18%/yr vs -2.33%/yr for TLT. Their -0.25 correlation means they have often moved in opposite directions in the past. IGE charges 0.39%/yr vs 0.15%/yr for TLT.
Performance
IGE vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IGE achieves a 20.18% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, IGE has outperformed TLT with an annualized return of 9.18%, while TLT has yielded a comparatively lower -2.33% annualized return.
IGE
- 1D
- -0.38%
- 1M
- 5.82%
- 6M
- 8.49%
- YTD
- 20.18%
- 1Y
- 37.23%
- 3Y*
- 16.00%
- 5Y*
- 19.32%
- 10Y*
- 9.18%
- ALL TIME*
- 7.92%
TLT
- 1D
- 0.33%
- 1M
- -3.49%
- 6M
- -2.86%
- YTD
- -3.18%
- 1Y
- -2.12%
- 3Y*
- -1.15%
- 5Y*
- -8.33%
- 10Y*
- -2.33%
- ALL TIME*
- 3.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.13M | $6.85M | $9.74M | |
| $2.39B | $2.06B | $2.20B |
IGE vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGE iShares North American Natural Resources ETF | 20.18% | 20.41% | 7.55% | 3.12% | 33.24% | 39.42% | -19.58% | 17.16% | -21.59% | 0.82% |
TLT iShares 20+ Year Treasury Bond ETF | -3.18% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between IGE and TLT is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.06 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.18 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.25 |
The correlation between IGE and TLT shifts across timeframes, from -0.25 (all time) to 0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGE vs. TLT — Risk / Return Rank
IGE
TLT
IGE vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares North American Natural Resources ETF (IGE) 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.
| IGE | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.50 | ||
| Sortino ratioReturn per unit of downside risk | +3.26 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.97 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | -0.28 | +3.52 |
| Martin ratioReturn relative to average drawdown | 9.98 | -0.59 | +10.57 |
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Drawdowns
IGE vs. TLT - Drawdown Comparison
The maximum IGE drawdown since its inception was -67.55%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IGE and TLT.
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Drawdown Indicators
| IGE | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.55% | -48.35% | -19.20% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -7.74% | -3.80% |
Max Drawdown (3Y)Largest decline over 3 years | -19.49% | -14.79% | -4.70% |
Max Drawdown (5Y)Largest decline over 5 years | -25.72% | -43.70% | +17.98% |
Max Drawdown (10Y)Largest decline over 10 years | -60.57% | -48.35% | -12.22% |
Current DrawdownCurrent decline from peak | -5.07% | -42.17% | +37.10% |
Average DrawdownAverage peak-to-trough decline | -18.82% | -14.00% | -4.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 3.60% | +0.14% |
Volatility
IGE vs. TLT - Volatility Comparison
iShares North American Natural Resources ETF (IGE) has a higher volatility of 3.87% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that IGE'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
| IGE | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 2.51% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 12.59% | 6.84% | +5.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.54% | 9.24% | +7.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.22% | 15.74% | +6.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.86% | 14.83% | +10.03% |
IGE vs. TLT - Expense Ratio Comparison
IGE has a 0.39% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
IGE vs. TLT - Dividend Comparison
IGE's dividend yield for the trailing twelve months is around 1.99%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGE iShares North American Natural Resources ETF | 1.99% | 2.32% | 2.54% | 2.85% | 2.96% | 2.92% | 3.34% | 5.55% | 2.68% | 2.11% | 1.66% | 3.08% |
TLT iShares 20+ Year Treasury Bond ETF | 4.75% | 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
IGE and TLT have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGE has higher volatility (3.87%) compared to TLT (2.51%). In terms of maximum drawdown, IGE dropped -67.55% vs TLT's -48.35%.
On 10-year performance, IGE leads with 9.18% vs -2.33% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGE has performed better with a 9.18% return vs -2.33%. 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 0.39% for IGE.
TLT has the higher dividend yield at 4.75%, compared with 1.99% for IGE.
IGE is categorized as Energy Equities, while TLT is Government Bonds. IGE tracks S&P North American Natural Resources Sector Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.39% for IGE and 0.15% for TLT.
IGE currently has the higher Sharpe Ratio (2.27 vs -0.23), 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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