ILCG vs. TLT
ILCG (iShares Morningstar Growth ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - ILCG is a Large Cap Growth Equities fund tracking the Morningstar US Large-Mid Cap Broad Growth Index Gross, 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, ILCG returned 17.23%/yr vs -2.33%/yr for TLT. Their -0.20 correlation means they have often moved in opposite directions in the past. ILCG charges 0.04%/yr vs 0.15%/yr for TLT.
Performance
ILCG vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, ILCG achieves a 9.70% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, ILCG has outperformed TLT with an annualized return of 17.23%, while TLT has yielded a comparatively lower -2.33% annualized return.
ILCG
- 1D
- 1.92%
- 1M
- -0.14%
- 6M
- 8.78%
- YTD
- 9.70%
- 1Y
- 16.20%
- 3Y*
- 23.09%
- 5Y*
- 11.74%
- 10Y*
- 17.23%
- ALL TIME*
- 11.61%
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) |
|---|---|---|---|
| $5.71M | $6.91M | $9.84M | |
| $2.39B | $2.06B | $2.20B |
ILCG vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ILCG iShares Morningstar Growth ETF | 9.70% | 16.71% | 32.82% | 40.41% | -31.75% | 24.33% | 38.56% | 33.22% | 2.06% | 30.57% |
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 ILCG and TLT is 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.08 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.03 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2004 | -0.20 |
The correlation between ILCG and TLT shifts across timeframes, from -0.20 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ILCG vs. TLT — Risk / Return Rank
ILCG
TLT
ILCG vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Growth ETF (ILCG) 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.
| ILCG | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.97 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | -0.28 | +1.32 |
| Martin ratioReturn relative to average drawdown | 3.30 | -0.59 | +3.89 |
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Drawdowns
ILCG vs. TLT - Drawdown Comparison
The maximum ILCG drawdown since its inception was -52.98%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for ILCG and TLT.
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Drawdown Indicators
| ILCG | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.98% | -48.35% | -4.63% |
Max Drawdown (1Y)Largest decline over 1 year | -15.65% | -7.74% | -7.91% |
Max Drawdown (3Y)Largest decline over 3 years | -23.10% | -14.79% | -8.31% |
Max Drawdown (5Y)Largest decline over 5 years | -35.38% | -43.70% | +8.32% |
Max Drawdown (10Y)Largest decline over 10 years | -35.38% | -48.35% | +12.97% |
Current DrawdownCurrent decline from peak | -5.15% | -42.17% | +37.02% |
Average DrawdownAverage peak-to-trough decline | -8.20% | -14.00% | +5.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.92% | 3.60% | +1.32% |
Volatility
ILCG vs. TLT - Volatility Comparison
iShares Morningstar Growth ETF (ILCG) has a higher volatility of 6.33% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that ILCG'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
| ILCG | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.33% | 2.51% | +3.82% |
Volatility (6M)Calculated over the trailing 6-month period | 15.61% | 6.84% | +8.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.74% | 9.24% | +9.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.39% | 15.74% | +6.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.71% | 14.83% | +6.88% |
ILCG vs. TLT - Expense Ratio Comparison
ILCG has a 0.04% 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
ILCG vs. TLT - Dividend Comparison
ILCG's dividend yield for the trailing twelve months is around 0.42%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ILCG iShares Morningstar Growth ETF | 0.42% | 0.47% | 0.50% | 0.69% | 0.75% | 0.34% | 0.28% | 0.54% | 0.81% | 0.89% | 0.95% | 0.99% |
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
ILCG and TLT have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ILCG has higher volatility (6.33%) compared to TLT (2.51%). In terms of maximum drawdown, ILCG dropped -52.98% vs TLT's -48.35%.
On 10-year performance, ILCG leads with 17.23% vs -2.33% for TLT. On fees, ILCG is cheaper at 0.04% 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, ILCG has performed better with a 17.23% return vs -2.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ILCG is cheaper with a 0.04% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.75%, compared with 0.42% for ILCG.
ILCG is categorized as Large Cap Growth Equities, while TLT is Government Bonds. ILCG tracks Morningstar US Large-Mid Cap Broad Growth Index Gross, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.04% for ILCG and 0.15% for TLT.
ILCG currently has the higher Sharpe Ratio (0.87 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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