IOO vs. TLT
IOO (iShares Global 100 ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IOO is a Global Equities fund tracking the S&P Global 100 Index (Net), 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, IOO returned 16.57%/yr vs -2.23%/yr for TLT. Their -0.23 correlation means they have often moved in opposite directions in the past. IOO charges 0.40%/yr vs 0.15%/yr for TLT.
Performance
IOO vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IOO achieves a 15.22% return, which is significantly higher than TLT's -2.22% return. Over the past 10 years, IOO has outperformed TLT with an annualized return of 16.57%, while TLT has yielded a comparatively lower -2.23% annualized return.
IOO
- 1D
- -0.11%
- 1M
- 4.66%
- 6M
- 13.73%
- YTD
- 15.22%
- 1Y
- 32.04%
- 3Y*
- 25.42%
- 5Y*
- 16.21%
- 10Y*
- 16.57%
- ALL TIME*
- 7.78%
TLT
- 1D
- 0.22%
- 1M
- -2.48%
- 6M
- -1.90%
- YTD
- -2.22%
- 1Y
- -1.73%
- 3Y*
- -0.82%
- 5Y*
- -7.75%
- 10Y*
- -2.23%
- ALL TIME*
- 3.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $59.47M | $42.95M | $39.23M | |
| $2.70B | $2.15B | $2.23B |
IOO vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IOO iShares Global 100 ETF | 15.22% | 27.02% | 26.54% | 27.71% | -16.34% | 26.03% | 18.61% | 30.01% | -6.22% | 23.56% |
TLT iShares 20+ Year Treasury Bond ETF | -2.22% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between IOO and TLT is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.08 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.23 |
The correlation between IOO and TLT shifts across timeframes, from -0.23 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IOO vs. TLT — Risk / Return Rank
IOO
TLT
IOO vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global 100 ETF (IOO) 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.
| IOO | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.39 | ||
| Sortino ratioReturn per unit of downside risk | +3.21 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.98 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | -0.22 | +3.46 |
| Martin ratioReturn relative to average drawdown | 12.09 | -0.48 | +12.57 |
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Drawdowns
IOO vs. TLT - Drawdown Comparison
The maximum IOO drawdown since its inception was -55.85%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IOO and TLT.
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Drawdown Indicators
| IOO | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.85% | -48.35% | -7.50% |
Max Drawdown (1Y)Largest decline over 1 year | -9.94% | -7.74% | -2.20% |
Max Drawdown (3Y)Largest decline over 3 years | -19.19% | -14.79% | -4.40% |
Max Drawdown (5Y)Largest decline over 5 years | -23.52% | -43.70% | +20.18% |
Max Drawdown (10Y)Largest decline over 10 years | -31.43% | -48.35% | +16.92% |
Current DrawdownCurrent decline from peak | -0.11% | -41.60% | +41.49% |
Average DrawdownAverage peak-to-trough decline | -11.22% | -14.00% | +2.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 3.65% | -0.99% |
Volatility
IOO vs. TLT - Volatility Comparison
iShares Global 100 ETF (IOO) has a higher volatility of 4.51% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that IOO'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
| IOO | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 2.51% | +2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 11.92% | 6.88% | +5.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.64% | 9.25% | +5.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.23% | 15.74% | +1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.74% | 14.83% | +2.91% |
IOO vs. TLT - Expense Ratio Comparison
IOO has a 0.40% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
IOO vs. TLT - Dividend Comparison
IOO's dividend yield for the trailing twelve months is around 0.80%, less than TLT's 4.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IOO iShares Global 100 ETF | 0.80% | 0.92% | 1.08% | 1.49% | 2.00% | 1.53% | 1.49% | 2.02% | 2.54% | 2.23% | 2.75% | 2.89% |
TLT iShares 20+ Year Treasury Bond ETF | 4.70% | 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
IOO 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.
IOO has higher volatility (4.51%) compared to TLT (2.51%). In terms of maximum drawdown, IOO dropped -55.85% vs TLT's -48.35%.
On 10-year performance, IOO leads with 16.57% vs -2.23% for TLT. On fees, TLT is cheaper at 0.15% 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, IOO has performed better with a 16.57% return vs -2.23%. 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 0.40% for IOO.
TLT has the higher dividend yield at 4.70%, compared with 0.80% for IOO.
IOO is categorized as Global Equities, while TLT is Government Bonds. IOO tracks S&P Global 100 Index (Net), while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.40% for IOO and 0.15% for TLT.
IOO currently has the higher Sharpe Ratio (2.20 vs -0.19), 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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