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IGRO vs. TLT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IGRO vs. TLT

Last updated Jun 4, 2026

IGRO (iShares International Dividend Growth ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IGRO is a Foreign Large Cap Equities fund tracking the Morningstar Global ex-US Dividend Growth Index (Net), 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, IGRO returned 8.49%/yr vs -1.66%/yr for TLT. At a correlation of -0.01, they often move in opposite directions. Both charge a 0.15% expense ratio.

Performance

IGRO vs. TLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares International Dividend Growth ETF (IGRO) and iShares 20+ Year Treasury Bond ETF (TLT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IGRO achieves a 5.91% return, which is significantly higher than TLT's -0.27% return. Over the past 10 years, IGRO has outperformed TLT with an annualized return of 8.49%, while TLT has yielded a comparatively lower -1.66% annualized return.

IGRO

1D
-0.85%
1M
0.87%
YTD
5.91%
6M
8.22%
1Y
13.91%
3Y*
15.21%
5Y*
7.30%
10Y*
8.49%

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IGRO vs. TLT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IGRO
iShares International Dividend Growth ETF		5.91%25.03%7.78%15.38%-12.72%9.94%7.71%26.13%-14.86%24.64%
TLT
iShares 20+ Year Treasury Bond ETF		-0.27%4.25%-8.05%2.77%-31.23%-4.60%18.15%14.12%-1.61%9.18%

Correlation

The correlation between IGRO and TLT is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.34

Correlation (3Y)
Calculated over the trailing 3-year period

0.31

Correlation (5Y)
Calculated over the trailing 5-year period

0.16

Correlation (10Y)
Calculated over the trailing 10-year period

-0.01

Correlation (All Time)
Calculated using the full available price history since May 20, 2016

-0.01

The correlation between IGRO and TLT shifts across timeframes, from -0.01 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares International Dividend Growth ETF

iShares 20+ Year Treasury Bond ETF

Often compared with IGRO:
IGRO vs. VIGIIGRO vs. SCHYIGRO vs. IDVIGRO vs. DGROIGRO vs. IHDGIGRO vs. FIDIGRO vs. DGRE
Often compared with TLT:
TLT vs. SPYTLT vs. IEFTLT vs. TMFTLT vs. BNDTLT vs. VGLTTLT vs. TLTWTLT vs. EDV

Return for Risk

IGRO vs. TLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IGRO
IGRO Risk / Return Rank: 3030
Overall Rank
IGRO Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
IGRO Sortino Ratio Rank: 3030
Sortino Ratio Rank
IGRO Omega Ratio Rank: 3030
Omega Ratio Rank
IGRO Calmar Ratio Rank: 2828
Calmar Ratio Rank
IGRO Martin Ratio Rank: 3434
Martin Ratio Rank
TLT
TLT Risk / Return Rank: 1616
Overall Rank
TLT Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
TLT Sortino Ratio Rank: 1515
Sortino Ratio Rank
TLT Omega Ratio Rank: 1515
Omega Ratio Rank
TLT Calmar Ratio Rank: 1717
Calmar Ratio Rank
TLT Martin Ratio Rank: 1616
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IGRO vs. TLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares International Dividend Growth ETF (IGRO) 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.

IGROTLTDifference
Sharpe ratioReturn per unit of total volatility
1.12
0.51

+0.62

Sortino ratioReturn per unit of downside risk
1.64
0.80

+0.84

Omega ratioGain probability vs. loss probability

1.21

1.09

+0.12

Calmar ratioReturn relative to maximum drawdown

1.40

0.65

+0.74

Martin ratioReturn relative to average drawdown

5.22

1.63

+3.59

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGRO vs. TLT - Sharpe Ratio Comparison

The current IGRO Sharpe Ratio is 1.12, which is higher than the TLT Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of IGRO and TLT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IGROTLTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.12

0.51

+0.62

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

-0.40

+0.93

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

-0.11

+0.62

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

0.26

+0.27

Drawdowns

IGRO vs. TLT - Drawdown Comparison

The maximum IGRO drawdown since its inception was -36.25%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IGRO and TLT.

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Drawdown Indicators

IGROTLTDifference

Max Drawdown

Largest peak-to-trough decline

-36.25%

-48.35%

+12.10%

Max Drawdown (1Y)

Largest decline over 1 year

-10.00%

-7.58%

-2.42%

Max Drawdown (3Y)

Largest decline over 3 years

-11.13%

-19.18%

+8.05%

Max Drawdown (5Y)

Largest decline over 5 years

-26.04%

-43.70%

+17.66%

Max Drawdown (10Y)

Largest decline over 10 years

-36.25%

-48.35%

+12.10%

Current Drawdown

Current decline from peak

-2.75%

-40.44%

+37.69%

Average Drawdown

Average peak-to-trough decline

-5.68%

-13.82%

+8.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.67%

3.04%

-0.37%

Volatility

IGRO vs. TLT - Volatility Comparison

iShares International Dividend Growth ETF (IGRO) has a higher volatility of 3.60% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. This indicates that IGRO'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

IGROTLTDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.60%

2.76%

+0.84%

Volatility (6M)

Calculated over the trailing 6-month period

10.38%

6.50%

+3.88%

Volatility (1Y)

Calculated over the trailing 1-year period

12.46%

9.77%

+2.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.92%

15.87%

-1.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.86%

14.91%

+1.95%

IGRO vs. TLT - Expense Ratio Comparison

Both IGRO and TLT 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

IGRO vs. TLT - Dividend Comparison

IGRO's dividend yield for the trailing twelve months is around 2.41%, less than TLT's 4.59% yield.

PositionTTM20252024202320222021202020192018201720162015
IGRO
iShares International Dividend Growth ETF		2.41%2.51%2.44%2.79%2.69%2.27%2.41%2.65%2.97%2.43%1.18%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

IGRO and TLT have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IGRO has higher volatility (3.60%) compared to TLT (2.76%). In terms of maximum drawdown, IGRO dropped -36.25% vs TLT's -48.35%.

On 10-year performance, IGRO leads with 8.49% vs -1.66% for TLT. Both ETFs have the same 0.15% expense ratio. On volatility, TLT has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IGRO has performed better with a 8.49% return vs -1.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IGRO and TLT have the same expense ratio: 0.15% per year.

TLT has the higher dividend yield at 4.59%, compared with 2.41% for IGRO.

IGRO is categorized as Foreign Large Cap Equities, while TLT is Government Bonds. IGRO tracks Morningstar Global ex-US Dividend Growth Index (Net), while TLT tracks ICE U.S. Treasury 20+ Year Bond Index.

IGRO currently has the higher Sharpe Ratio (1.12 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.

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