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IGV vs. TLT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IGV vs. TLT

Last updated Jun 4, 2026

IGV (iShares Expanded Tech-Software Sector ET) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IGV is a Technology Equities fund tracking the S&P North American Technology-Software 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, IGV returned 16.89%/yr vs -1.66%/yr for TLT. At a correlation of -0.19, they often move in opposite directions. IGV charges 0.46%/yr vs 0.15%/yr for TLT.

Performance

IGV vs. TLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Expanded Tech-Software Sector ET (IGV) 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, IGV achieves a -5.19% return, which is significantly lower than TLT's -0.27% return. Over the past 10 years, IGV has outperformed TLT with an annualized return of 16.89%, while TLT has yielded a comparatively lower -1.66% annualized return.

IGV

1D
-4.33%
1M
13.30%
YTD
-5.19%
6M
-6.07%
1Y
-4.56%
3Y*
14.91%
5Y*
6.80%
10Y*
16.89%

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)

IGV vs. TLT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IGV
iShares Expanded Tech-Software Sector ET		-5.19%5.56%23.41%58.56%-35.65%12.30%52.86%34.33%12.44%42.16%
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 IGV and TLT is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.11

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

0.13

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

0.09

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

-0.01

Correlation (All Time)
Calculated using the full available price history since Jul 29, 2002

-0.19

The correlation between IGV and TLT shifts across timeframes, from -0.19 (all time) to 0.13 (3 years), 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 Expanded Tech-Software Sector ET

iShares 20+ Year Treasury Bond ETF

Often compared with IGV:
IGV vs. QQQIGV vs. XSWIGV vs. SOXXIGV vs. VGTIGV vs. XLKIGV vs. SMHXIGV vs. VOO
Often compared with TLT:
TLT vs. SPYTLT vs. IEFTLT vs. TMFTLT vs. BNDTLT vs. VGLTTLT vs. TLTWTLT vs. EDV

Return for Risk

IGV vs. TLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IGV
IGV Risk / Return Rank: 77
Overall Rank
IGV Sharpe Ratio Rank: 77
Sharpe Ratio Rank
IGV Sortino Ratio Rank: 77
Sortino Ratio Rank
IGV Omega Ratio Rank: 77
Omega Ratio Rank
IGV Calmar Ratio Rank: 77
Calmar Ratio Rank
IGV Martin Ratio Rank: 77
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.

IGV vs. TLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Expanded Tech-Software Sector ET (IGV) 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.

IGVTLTDifference
Sharpe ratioReturn per unit of total volatility
-0.17
0.51

-0.67

Sortino ratioReturn per unit of downside risk
-0.04
0.80

-0.84

Omega ratioGain probability vs. loss probability

0.99

1.09

-0.10

Calmar ratioReturn relative to maximum drawdown

-0.13

0.65

-0.78

Martin ratioReturn relative to average drawdown

-0.27

1.63

-1.89

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

IGV vs. TLT - Sharpe Ratio Comparison

The current IGV Sharpe Ratio is -0.17, which is lower than the TLT Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of IGV 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

IGVTLTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.17

0.51

-0.67

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.25

-0.40

+0.65

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

-0.11

+0.75

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.26

+0.11

Drawdowns

IGV vs. TLT - Drawdown Comparison

The maximum IGV drawdown since its inception was -63.45%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IGV and TLT.

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Drawdown Indicators

IGVTLTDifference

Max Drawdown

Largest peak-to-trough decline

-63.45%

-48.35%

-15.10%

Max Drawdown (1Y)

Largest decline over 1 year

-36.61%

-7.58%

-29.03%

Max Drawdown (3Y)

Largest decline over 3 years

-36.61%

-19.18%

-17.43%

Max Drawdown (5Y)

Largest decline over 5 years

-45.85%

-43.70%

-2.15%

Max Drawdown (10Y)

Largest decline over 10 years

-45.85%

-48.35%

+2.50%

Current Drawdown

Current decline from peak

-14.93%

-40.44%

+25.51%

Average Drawdown

Average peak-to-trough decline

-14.44%

-13.82%

-0.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

17.22%

3.04%

+14.18%

Volatility

IGV vs. TLT - Volatility Comparison

iShares Expanded Tech-Software Sector ET (IGV) has a higher volatility of 11.63% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. This indicates that IGV'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

IGVTLTDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.63%

2.76%

+8.87%

Volatility (6M)

Calculated over the trailing 6-month period

24.39%

6.50%

+17.89%

Volatility (1Y)

Calculated over the trailing 1-year period

27.61%

9.77%

+17.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.86%

15.87%

+11.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.35%

14.91%

+11.44%

IGV vs. TLT - Expense Ratio Comparison

IGV has a 0.46% expense ratio, which is higher than TLT's 0.15% expense ratio.

Dividends

IGV vs. TLT - Dividend Comparison

IGV has not paid dividends to shareholders, while TLT's dividend yield for the trailing twelve months is around 4.59%.

PositionTTM20252024202320222021202020192018201720162015
IGV
iShares Expanded Tech-Software Sector ET		0.00%0.00%0.00%0.01%0.01%0.00%0.35%0.02%0.16%0.09%0.82%0.22%
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

IGV and TLT have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IGV has higher volatility (11.63%) compared to TLT (2.76%). In terms of maximum drawdown, IGV dropped -63.45% vs TLT's -48.35%.

On 10-year performance, IGV leads with 16.89% vs -1.66% for TLT. On fees, TLT is cheaper at 0.15% per year. 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, IGV has performed better with a 16.89% return vs -1.66%. 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 0.46% for IGV.

TLT has the higher dividend yield at 4.59%, compared with 0.00% for IGV.

IGV is categorized as Technology Equities, while TLT is Government Bonds. IGV tracks S&P North American Technology-Software Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.46% for IGV and 0.15% for TLT.

TLT currently has the higher Sharpe Ratio (0.51 vs -0.17), 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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