ILTB vs. GOVT
ILTB (iShares Core 10+ Year USD Bond ETF) and GOVT (iShares U.S. Treasury Bond ETF) are both exchange-traded funds - ILTB is a Long-Term Bond fund tracking the Bloomberg U.S. Universal 10+ Year Index (USD), while GOVT is a Government Bonds fund tracking the ICE U.S. Treasury Core Bond Index. Both are passively managed. Over the past 10 years, ILTB returned 0.60%/yr vs 0.68%/yr for GOVT. Their correlation of 0.85 means they have usually moved in the same direction. ILTB charges 0.06%/yr vs 0.05%/yr for GOVT.
Performance
ILTB vs. GOVT - Performance Comparison
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Returns By Period
In the year-to-date period, ILTB achieves a -2.69% return, which is significantly lower than GOVT's -0.74% return. Over the past 10 years, ILTB has underperformed GOVT with an annualized return of 0.60%, while GOVT has yielded a comparatively higher 0.68% annualized return.
ILTB
- 1D
- -0.46%
- 1M
- -3.52%
- 6M
- -2.81%
- YTD
- -2.69%
- 1Y
- 0.14%
- 3Y*
- 2.14%
- 5Y*
- -4.50%
- 10Y*
- 0.60%
- ALL TIME*
- 3.69%
GOVT
- 1D
- -0.24%
- 1M
- -1.06%
- 6M
- -0.78%
- YTD
- -0.74%
- 1Y
- 1.07%
- 3Y*
- 3.05%
- 5Y*
- -0.94%
- 10Y*
- 0.68%
- ALL TIME*
- 1.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $167.09M | $164.37M | $191.03M | |
| $1.80M | $1.79M | $2.53M |
ILTB vs. GOVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ILTB iShares Core 10+ Year USD Bond ETF | -2.69% | 7.22% | -3.00% | 8.04% | -26.62% | -2.67% | 16.10% | 19.61% | -5.10% | 11.24% |
GOVT iShares U.S. Treasury Bond ETF | -0.74% | 3.77% | 2.95% | 4.17% | -13.39% | -1.11% | 7.28% | 7.36% | 0.26% | 2.19% |
Correlation
The correlation between ILTB and GOVT is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012 | 0.85 |
The correlation between ILTB and GOVT has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.
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Return for Risk
ILTB vs. GOVT — Risk / Return Rank
ILTB
GOVT
ILTB vs. GOVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core 10+ Year USD Bond ETF (ILTB) and iShares U.S. Treasury Bond ETF (GOVT). 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.
| ILTB | GOVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.09 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 0.68 | -0.51 |
| Martin ratioReturn relative to average drawdown | 0.37 | 1.61 | -1.24 |
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Drawdowns
ILTB vs. GOVT - Drawdown Comparison
The maximum ILTB drawdown since its inception was -36.88%, which is greater than GOVT's maximum drawdown of -19.07%. Use the drawdown chart below to compare losses from any high point for ILTB and GOVT.
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Drawdown Indicators
| ILTB | GOVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.88% | -19.07% | -17.81% |
Max Drawdown (1Y)Largest decline over 1 year | -5.60% | -2.85% | -2.75% |
Max Drawdown (3Y)Largest decline over 3 years | -11.33% | -4.90% | -6.43% |
Max Drawdown (5Y)Largest decline over 5 years | -35.22% | -16.60% | -18.62% |
Max Drawdown (10Y)Largest decline over 10 years | -36.88% | -19.07% | -17.81% |
Current DrawdownCurrent decline from peak | -23.63% | -7.75% | -15.88% |
Average DrawdownAverage peak-to-trough decline | -10.03% | -5.27% | -4.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 1.20% | +1.26% |
Volatility
ILTB vs. GOVT - Volatility Comparison
iShares Core 10+ Year USD Bond ETF (ILTB) has a higher volatility of 2.05% compared to iShares U.S. Treasury Bond ETF (GOVT) at 0.95%. This indicates that ILTB's price experiences larger fluctuations and is considered to be riskier than GOVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ILTB | GOVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 0.95% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 5.86% | 2.75% | +3.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.62% | 3.55% | +4.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.59% | 6.03% | +6.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.54% | 5.21% | +6.33% |
ILTB vs. GOVT - Expense Ratio Comparison
ILTB has a 0.06% expense ratio, which is higher than GOVT's 0.05% 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
ILTB vs. GOVT - Dividend Comparison
ILTB's dividend yield for the trailing twelve months is around 5.13%, more than GOVT's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | 3.33% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
ILTB iShares Core 10+ Year USD Bond ETF | 4.70% | 4.83% | 4.91% | 4.38% | 4.31% | 3.04% | 3.32% | 3.45% | 4.13% | 3.97% | 3.99% | 4.20% |
Frequently Asked Questions
With a correlation of 0.92, ILTB and GOVT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ILTB has higher volatility (2.05%) compared to GOVT (0.95%). In terms of maximum drawdown, ILTB dropped -36.88% vs GOVT's -19.07%.
On 10-year performance, GOVT leads with 0.68% vs 0.60% for ILTB. On fees, GOVT is cheaper at 0.05% per year. On volatility, GOVT has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GOVT has performed better with a 0.68% return vs 0.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVT is cheaper with a 0.05% expense ratio, compared with 0.06% for ILTB.
ILTB has the higher dividend yield at 4.70%, compared with 3.33% for GOVT.
ILTB is categorized as Long-Term Bond, while GOVT is Government Bonds. ILTB tracks Bloomberg U.S. Universal 10+ Year Index (USD), while GOVT tracks ICE U.S. Treasury Core Bond Index. Their fees differ too: 0.06% for ILTB and 0.05% for GOVT.
GOVT currently has the higher Sharpe Ratio (0.55 vs 0.12), 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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