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IJS vs. TLT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJS vs. TLT

Last updated Jun 4, 2026

IJS (iShares S&P SmallCap 600 Value ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IJS is a Small Cap Value Equities fund tracking the S&P SmallCap 600/Citigroup Value 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, IJS returned 10.07%/yr vs -1.66%/yr for TLT. At a correlation of -0.25, they often move in opposite directions. IJS charges 0.25%/yr vs 0.15%/yr for TLT.

Performance

IJS vs. TLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P SmallCap 600 Value ETF (IJS) 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, IJS achieves a 15.13% return, which is significantly higher than TLT's -0.27% return. Over the past 10 years, IJS has outperformed TLT with an annualized return of 10.07%, while TLT has yielded a comparatively lower -1.66% annualized return.

IJS

1D
-1.22%
1M
2.29%
YTD
15.13%
6M
14.62%
1Y
36.88%
3Y*
14.01%
5Y*
5.55%
10Y*
10.07%

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)

IJS vs. TLT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IJS
iShares S&P SmallCap 600 Value ETF		15.13%6.54%7.33%14.68%-11.34%30.53%2.63%24.11%-12.86%11.35%
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 IJS and TLT is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.23

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

0.22

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

0.07

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

-0.11

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

-0.25

The correlation between IJS and TLT shifts across timeframes, from -0.25 (all time) to 0.23 (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 S&P SmallCap 600 Value ETF

iShares 20+ Year Treasury Bond ETF

Often compared with IJS:
IJS vs. IJRIJS vs. AVUVIJS vs. VBRIJS vs. VIOVIJS vs. IWNIJS vs. VOOIJS vs. IWM
Often compared with TLT:
TLT vs. SPYTLT vs. IEFTLT vs. TMFTLT vs. BNDTLT vs. VGLTTLT vs. TLTWTLT vs. EDV

Return for Risk

IJS vs. TLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IJS
IJS Risk / Return Rank: 6464
Overall Rank
IJS Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
IJS Sortino Ratio Rank: 6161
Sortino Ratio Rank
IJS Omega Ratio Rank: 5656
Omega Ratio Rank
IJS Calmar Ratio Rank: 7777
Calmar Ratio Rank
IJS Martin Ratio Rank: 6969
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.

IJS vs. TLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P SmallCap 600 Value ETF (IJS) 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.

IJSTLTDifference

Sharpe ratio

Return per unit of total volatility

2.03

0.51

+1.53

Sortino ratio

Return per unit of downside risk

2.91

0.80

+2.11

Omega ratio

Gain probability vs. loss probability

1.35

1.09

+0.26

Calmar ratio

Return relative to maximum drawdown

3.99

0.65

+3.34

Martin ratio

Return relative to average drawdown

13.05

1.63

+11.43

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

IJS vs. TLT - Sharpe Ratio Comparison

The current IJS Sharpe Ratio is 2.03, which is higher than the TLT Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of IJS 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

IJSTLTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.03

0.51

+1.53

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

0.43

-0.11

+0.54

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.26

+0.15

Drawdowns

IJS vs. TLT - Drawdown Comparison

The maximum IJS drawdown since its inception was -60.11%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IJS and TLT.

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Drawdown Indicators

IJSTLTDifference

Max Drawdown

Largest peak-to-trough decline

-60.11%

-48.35%

-11.76%

Max Drawdown (1Y)

Largest decline over 1 year

-9.28%

-7.58%

-1.70%

Max Drawdown (3Y)

Largest decline over 3 years

-28.65%

-19.18%

-9.47%

Max Drawdown (5Y)

Largest decline over 5 years

-28.65%

-43.70%

+15.05%

Max Drawdown (10Y)

Largest decline over 10 years

-47.68%

-48.35%

+0.67%

Current Drawdown

Current decline from peak

-1.22%

-40.44%

+39.22%

Average Drawdown

Average peak-to-trough decline

-9.89%

-13.82%

+3.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.83%

3.04%

-0.21%

Volatility

IJS vs. TLT - Volatility Comparison

iShares S&P SmallCap 600 Value ETF (IJS) has a higher volatility of 4.42% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. This indicates that IJS'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

IJSTLTDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.42%

2.76%

+1.66%

Volatility (6M)

Calculated over the trailing 6-month period

11.52%

6.50%

+5.02%

Volatility (1Y)

Calculated over the trailing 1-year period

18.31%

9.77%

+8.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.98%

15.87%

+6.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.60%

14.91%

+8.69%

IJS vs. TLT - Expense Ratio Comparison

IJS has a 0.25% expense ratio, which is higher than TLT's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IJS vs. TLT - Dividend Comparison

IJS's dividend yield for the trailing twelve months is around 1.29%, less than TLT's 4.59% yield.

PositionTTM20252024202320222021202020192018201720162015
IJS
iShares S&P SmallCap 600 Value ETF		1.29%1.62%1.78%1.42%1.46%1.52%1.00%1.66%1.75%1.41%1.22%1.59%
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

IJS and TLT have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IJS has higher volatility (4.42%) compared to TLT (2.76%). In terms of maximum drawdown, IJS dropped -60.11% vs TLT's -48.35%.

On 10-year performance, IJS leads with 10.07% 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, IJS has performed better with a 10.07% 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 0.25% for IJS.

TLT has the higher dividend yield at 4.59%, compared with 1.29% for IJS.

IJS is categorized as Small Cap Value Equities, while TLT is Government Bonds. IJS tracks S&P SmallCap 600/Citigroup Value Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.25% for IJS and 0.15% for TLT.

IJS currently has the higher Sharpe Ratio (2.03 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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