IGSB vs. TLT
IGSB (iShares 1-5 Year Investment Grade Corporate Bond ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IGSB is a Corporate Bonds fund tracking the ICE BofA 1-5 Year US Corporate 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, IGSB returned 2.71%/yr vs -2.33%/yr for TLT. Their 0.42 correlation means their historical movements had little consistent relationship. IGSB charges 0.04%/yr vs 0.15%/yr for TLT.
Performance
IGSB vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IGSB achieves a 0.98% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, IGSB has outperformed TLT with an annualized return of 2.71%, while TLT has yielded a comparatively lower -2.33% annualized return.
IGSB
- 1D
- 0.07%
- 1M
- -0.10%
- 6M
- 0.65%
- YTD
- 0.98%
- 1Y
- 3.24%
- 3Y*
- 5.54%
- 5Y*
- 2.42%
- 10Y*
- 2.71%
- ALL TIME*
- 2.82%
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) |
|---|---|---|---|
| $138.45M | $132.08M | $159.08M | |
| $2.39B | $2.06B | $2.20B |
IGSB vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 0.98% | 6.96% | 4.97% | 6.40% | -5.63% | -0.56% | 5.37% | 7.11% | 1.25% | 1.27% |
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 IGSB and TLT is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2007 | 0.42 |
Over the past year, IGSB and TLT have become more correlated (0.70) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
IGSB vs. TLT — Risk / Return Rank
IGSB
TLT
IGSB vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB) 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.
| IGSB | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.96 | ||
| Sortino ratioReturn per unit of downside risk | +2.79 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.97 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | -0.28 | +2.50 |
| Martin ratioReturn relative to average drawdown | 8.76 | -0.59 | +9.35 |
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Drawdowns
IGSB vs. TLT - Drawdown Comparison
The maximum IGSB drawdown since its inception was -13.38%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IGSB and TLT.
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Drawdown Indicators
| IGSB | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.38% | -48.35% | +34.97% |
Max Drawdown (1Y)Largest decline over 1 year | -1.46% | -7.74% | +6.28% |
Max Drawdown (3Y)Largest decline over 3 years | -1.46% | -14.79% | +13.33% |
Max Drawdown (5Y)Largest decline over 5 years | -9.41% | -43.70% | +34.29% |
Max Drawdown (10Y)Largest decline over 10 years | -13.38% | -48.35% | +34.97% |
Current DrawdownCurrent decline from peak | -0.16% | -42.17% | +42.01% |
Average DrawdownAverage peak-to-trough decline | -0.84% | -14.00% | +13.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 3.60% | -3.23% |
Volatility
IGSB vs. TLT - Volatility Comparison
The current volatility for iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB) is 0.49%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.51%. This indicates that IGSB 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.
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Volatility by Period
| IGSB | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 2.51% | -2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.57% | 6.84% | -5.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.88% | 9.24% | -7.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.95% | 15.74% | -12.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.47% | 14.83% | -11.36% |
IGSB vs. TLT - Expense Ratio Comparison
IGSB has a 0.04% 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
IGSB vs. TLT - Dividend Comparison
IGSB's dividend yield for the trailing twelve months is around 4.62%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 4.62% | 4.44% | 4.02% | 3.26% | 2.07% | 1.82% | 2.36% | 3.06% | 2.46% | 1.65% | 1.45% | 1.18% |
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
IGSB and TLT have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.51%) compared to IGSB (0.49%). In terms of maximum drawdown, IGSB dropped -13.38% vs TLT's -48.35%.
On 10-year performance, IGSB leads with 2.71% vs -2.33% for TLT. On fees, IGSB is cheaper at 0.04% per year. On volatility, IGSB has been the lower-risk option at 0.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGSB has performed better with a 2.71% return vs -2.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGSB is cheaper with a 0.04% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.75%, compared with 4.62% for IGSB.
IGSB is categorized as Corporate Bonds, while TLT is Government Bonds. IGSB tracks ICE BofA 1-5 Year US Corporate Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.04% for IGSB and 0.15% for TLT.
IGSB currently has the higher Sharpe Ratio (1.73 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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