IJT vs. TLT
IJT (iShares S&P SmallCap 600 Growth ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IJT is a Small Cap Growth Equities fund tracking the S&P SmallCap 600 Growth 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, IJT returned 11.04%/yr vs -2.38%/yr for TLT. Their -0.23 correlation means they have often moved in opposite directions in the past. IJT charges 0.18%/yr vs 0.15%/yr for TLT.
Performance
IJT vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IJT achieves a 22.72% return, which is significantly higher than TLT's -3.49% return. Over the past 10 years, IJT has outperformed TLT with an annualized return of 11.04%, while TLT has yielded a comparatively lower -2.38% annualized return.
IJT
- 1D
- -0.21%
- 1M
- -1.81%
- 6M
- 17.16%
- YTD
- 22.72%
- 1Y
- 32.44%
- 3Y*
- 13.98%
- 5Y*
- 6.52%
- 10Y*
- 11.04%
- ALL TIME*
- 9.57%
TLT
- 1D
- -0.66%
- 1M
- -3.81%
- 6M
- -3.46%
- YTD
- -3.49%
- 1Y
- -2.45%
- 3Y*
- -1.80%
- 5Y*
- -8.18%
- 10Y*
- -2.38%
- ALL TIME*
- 3.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $37.02M | $33.10M | $30.37M | |
| $2.33B | $2.02B | $2.19B |
IJT vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IJT iShares S&P SmallCap 600 Growth ETF | 22.72% | 5.26% | 9.33% | 17.11% | -21.32% | 22.37% | 19.22% | 20.98% | -4.40% | 14.47% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between IJT and TLT is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.23 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.23 |
The correlation between IJT and TLT shifts across timeframes, from -0.23 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IJT vs. TLT — Risk / Return Rank
IJT
TLT
IJT vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P SmallCap 600 Growth ETF (IJT) 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.
| IJT | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.82 | ||
| Sortino ratioReturn per unit of downside risk | +2.65 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.99 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | -0.14 | +3.48 |
| Martin ratioReturn relative to average drawdown | 11.32 | -0.30 | +11.62 |
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Drawdowns
IJT vs. TLT - Drawdown Comparison
The maximum IJT drawdown since its inception was -57.61%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IJT and TLT.
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Drawdown Indicators
| IJT | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.61% | -48.35% | -9.26% |
Max Drawdown (1Y)Largest decline over 1 year | -9.08% | -7.74% | -1.34% |
Max Drawdown (3Y)Largest decline over 3 years | -27.41% | -14.79% | -12.62% |
Max Drawdown (5Y)Largest decline over 5 years | -29.24% | -43.70% | +14.46% |
Max Drawdown (10Y)Largest decline over 10 years | -42.03% | -48.35% | +6.32% |
Current DrawdownCurrent decline from peak | -3.30% | -42.36% | +39.06% |
Average DrawdownAverage peak-to-trough decline | -10.25% | -13.99% | +3.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 3.57% | -0.89% |
Volatility
IJT vs. TLT - Volatility Comparison
iShares S&P SmallCap 600 Growth ETF (IJT) has a higher volatility of 4.09% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.46%. This indicates that IJT'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
| IJT | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.09% | 2.46% | +1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 12.94% | 6.85% | +6.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.87% | 9.32% | +8.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.48% | 15.74% | +5.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.00% | 14.83% | +8.17% |
IJT vs. TLT - Expense Ratio Comparison
IJT has a 0.18% 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
IJT vs. TLT - Dividend Comparison
IJT's dividend yield for the trailing twelve months is around 0.70%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJT iShares S&P SmallCap 600 Growth ETF | 0.70% | 0.91% | 1.06% | 1.02% | 1.08% | 0.63% | 0.68% | 0.92% | 0.92% | 0.86% | 1.03% | 1.14% |
TLT iShares 20+ Year Treasury Bond ETF | 4.34% | 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
IJT and TLT have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IJT has higher volatility (4.09%) compared to TLT (2.46%). In terms of maximum drawdown, IJT dropped -57.61% vs TLT's -48.35%.
On 10-year performance, IJT leads with 11.04% vs -2.38% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IJT has performed better with a 11.04% return vs -2.38%. 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 0.18% for IJT.
TLT has the higher dividend yield at 4.34%, compared with 0.70% for IJT.
IJT is categorized as Small Cap Growth Equities, while TLT is Government Bonds. IJT tracks S&P SmallCap 600 Growth Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.18% for IJT and 0.15% for TLT.
IJT currently has the higher Sharpe Ratio (1.71 vs -0.11), 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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