IGV vs. TLT
IGV (iShares Expanded Tech-Software Sector ETF) 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 Expanded 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 15.70%/yr vs -1.74%/yr for TLT. At a correlation of -0.19, they often move in opposite directions. IGV charges 0.39%/yr vs 0.15%/yr for TLT.
Performance
IGV vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IGV achieves a -17.37% return, which is significantly lower than TLT's 0.77% return. Over the past 10 years, IGV has outperformed TLT with an annualized return of 15.70%, while TLT has yielded a comparatively lower -1.74% annualized return.
IGV
- 1D
- 0.01%
- 1M
- -7.10%
- YTD
- -17.37%
- 6M
- -19.19%
- 1Y
- -17.89%
- 3Y*
- 9.05%
- 5Y*
- 2.37%
- 10Y*
- 15.70%
TLT
- 1D
- 0.13%
- 1M
- 2.20%
- YTD
- 0.77%
- 6M
- 0.38%
- 1Y
- 3.87%
- 3Y*
- -1.89%
- 5Y*
- -6.59%
- 10Y*
- -1.74%
IGV vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGV iShares Expanded Tech-Software Sector ETF | -17.37% | 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 | 0.77% | 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 | 0.12 |
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 26, 2002 | -0.19 |
The correlation between IGV and TLT shifts across timeframes, from -0.19 (all time) to 0.12 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGV vs. TLT — Risk / Return Rank
IGV
TLT
IGV vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Expanded Tech-Software Sector ETF (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.
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.
| IGV | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.41 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.07 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 0.51 | -1.00 |
| Martin ratioReturn relative to average drawdown | -1.00 | 1.22 | -2.22 |
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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
| IGV | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -25.85% | -39.82% | +13.97% |
Average DrawdownAverage peak-to-trough decline | -14.46% | -13.87% | -0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.94% | 3.18% | +14.76% |
Volatility
IGV vs. TLT - Volatility Comparison
iShares Expanded Tech-Software Sector ETF (IGV) has a higher volatility of 12.71% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.20%. 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
| IGV | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.71% | 2.20% | +10.51% |
Volatility (6M)Calculated over the trailing 6-month period | 24.86% | 6.62% | +18.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.27% | 9.48% | +18.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.97% | 15.82% | +12.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.38% | 14.88% | +11.50% |
IGV vs. TLT - Expense Ratio Comparison
IGV has a 0.39% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
IGV vs. TLT - Dividend Comparison
IGV's dividend yield for the trailing twelve months is around 0.02%, less than TLT's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGV iShares Expanded Tech-Software Sector ETF | 0.02% | 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 | 4.54% | 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 (12.71%) compared to TLT (2.20%). In terms of maximum drawdown, IGV dropped -63.45% vs TLT's -48.35%.
On 10-year performance, IGV leads with 15.70% vs -1.74% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.20%. 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 15.70% return vs -1.74%. 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 IGV.
TLT has the higher dividend yield at 4.54%, compared with 0.02% for IGV.
IGV is categorized as Technology Equities, while TLT is Government Bonds. IGV tracks S&P North American Expanded Technology Software Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.39% for IGV and 0.15% for TLT.
TLT currently has the higher Sharpe Ratio (0.41 vs -0.64), 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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