ILCB vs. TLT
ILCB (iShares Morningstar U.S. Equity ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - ILCB is a Large Cap Growth Equities fund tracking the Morningstar US Large-Mid Cap 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, ILCB returned 14.42%/yr vs -2.33%/yr for TLT. Their -0.23 correlation means they have often moved in opposite directions in the past. ILCB charges 0.03%/yr vs 0.15%/yr for TLT.
Performance
ILCB vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, ILCB achieves a 11.73% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, ILCB has outperformed TLT with an annualized return of 14.42%, while TLT has yielded a comparatively lower -2.33% annualized return.
ILCB
- 1D
- 1.54%
- 1M
- 1.56%
- 6M
- 9.71%
- YTD
- 11.73%
- 1Y
- 23.00%
- 3Y*
- 20.96%
- 5Y*
- 12.54%
- 10Y*
- 14.42%
- ALL TIME*
- 11.23%
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) |
|---|---|---|---|
| $1.31M | $1.30M | $1.40M | |
| $2.39B | $2.06B | $2.20B |
ILCB vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ILCB iShares Morningstar U.S. Equity ETF | 11.73% | 17.70% | 24.96% | 26.91% | -19.48% | 24.07% | 19.40% | 32.68% | -8.51% | 22.09% |
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 ILCB and TLT is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.09 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2004 | -0.23 |
The correlation between ILCB and TLT shifts across timeframes, from -0.23 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ILCB vs. TLT — Risk / Return Rank
ILCB
TLT
ILCB vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar U.S. Equity ETF (ILCB) 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.
| ILCB | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.01 | ||
| Sortino ratioReturn per unit of downside risk | +2.73 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.97 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | -0.28 | +2.82 |
| Martin ratioReturn relative to average drawdown | 10.74 | -0.59 | +11.33 |
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Drawdowns
ILCB vs. TLT - Drawdown Comparison
The maximum ILCB drawdown since its inception was -51.53%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for ILCB and TLT.
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Drawdown Indicators
| ILCB | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.53% | -48.35% | -3.18% |
Max Drawdown (1Y)Largest decline over 1 year | -9.09% | -7.74% | -1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -19.05% | -14.79% | -4.26% |
Max Drawdown (5Y)Largest decline over 5 years | -25.47% | -43.70% | +18.23% |
Max Drawdown (10Y)Largest decline over 10 years | -35.30% | -48.35% | +13.05% |
Current DrawdownCurrent decline from peak | -0.12% | -42.17% | +42.05% |
Average DrawdownAverage peak-to-trough decline | -6.20% | -14.00% | +7.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 3.60% | -1.45% |
Volatility
ILCB vs. TLT - Volatility Comparison
iShares Morningstar U.S. Equity ETF (ILCB) has a higher volatility of 3.90% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that ILCB'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
| ILCB | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 2.51% | +1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 10.31% | 6.84% | +3.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.99% | 9.24% | +3.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.25% | 15.74% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 14.83% | +3.37% |
ILCB vs. TLT - Expense Ratio Comparison
ILCB has a 0.03% 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
ILCB vs. TLT - Dividend Comparison
ILCB's dividend yield for the trailing twelve months is around 0.97%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ILCB iShares Morningstar U.S. Equity ETF | 0.97% | 1.11% | 1.19% | 1.43% | 1.65% | 1.16% | 1.26% | 2.25% | 2.17% | 1.81% | 1.97% | 2.44% |
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
ILCB and TLT have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ILCB has higher volatility (3.90%) compared to TLT (2.51%). In terms of maximum drawdown, ILCB dropped -51.53% vs TLT's -48.35%.
On 10-year performance, ILCB leads with 14.42% vs -2.33% for TLT. On fees, ILCB is cheaper at 0.03% per year. On volatility, TLT has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ILCB has performed better with a 14.42% return vs -2.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ILCB is cheaper with a 0.03% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.75%, compared with 0.97% for ILCB.
ILCB is categorized as Large Cap Growth Equities, while TLT is Government Bonds. ILCB tracks Morningstar US Large-Mid Cap Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.03% for ILCB and 0.15% for TLT.
ILCB currently has the higher Sharpe Ratio (1.78 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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