IRBO vs. TLT
IRBO (iShares Future AI & Tech ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IRBO is a Artificial Intelligence fund tracking the Morningstar Global Artificial Intelligence Select 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 5 years, IRBO returned 10.52%/yr vs -8.33%/yr for TLT. Their -0.05 correlation means they have often moved in opposite directions in the past. IRBO charges 0.47%/yr vs 0.15%/yr for TLT.
Performance
IRBO vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IRBO achieves a 43.11% return, which is significantly higher than TLT's -3.18% return.
IRBO
- 1D
- 3.39%
- 1M
- -3.07%
- 6M
- 32.62%
- YTD
- 43.11%
- 1Y
- 63.16%
- 3Y*
- 28.37%
- 5Y*
- 10.52%
- 10Y*
- —
- ALL TIME*
- 15.10%
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) |
|---|---|---|---|
| $35.64M | $36.90M | $59.33M | |
| $2.39B | $2.06B | $2.20B |
IRBO vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IRBO iShares Future AI & Tech ETF | 43.11% | 29.97% | 8.02% | 36.37% | -37.89% | 6.32% | 48.85% | 34.47% | -13.76% |
TLT iShares 20+ Year Treasury Bond ETF | -3.18% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | 1.12% |
Correlation
The correlation between IRBO and TLT is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2018 | -0.05 |
The correlation between IRBO and TLT shifts across timeframes, from -0.05 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IRBO vs. TLT — Risk / Return Rank
IRBO
TLT
IRBO vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Future AI & Tech ETF (IRBO) 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.
| IRBO | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.93 | ||
| Sortino ratioReturn per unit of downside risk | +2.44 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.97 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | -0.28 | +2.92 |
| Martin ratioReturn relative to average drawdown | 8.49 | -0.59 | +9.08 |
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Drawdowns
IRBO vs. TLT - Drawdown Comparison
The maximum IRBO drawdown since its inception was -54.50%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IRBO and TLT.
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Drawdown Indicators
| IRBO | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.50% | -48.35% | -6.15% |
Max Drawdown (1Y)Largest decline over 1 year | -24.00% | -7.74% | -16.26% |
Max Drawdown (3Y)Largest decline over 3 years | -32.44% | -14.79% | -17.65% |
Max Drawdown (5Y)Largest decline over 5 years | -50.53% | -43.70% | -6.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -14.61% | -42.17% | +27.56% |
Average DrawdownAverage peak-to-trough decline | -19.68% | -14.00% | -5.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.46% | 3.60% | +3.86% |
Volatility
IRBO vs. TLT - Volatility Comparison
iShares Future AI & Tech ETF (IRBO) has a higher volatility of 14.41% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that IRBO'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
| IRBO | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.41% | 2.51% | +11.90% |
Volatility (6M)Calculated over the trailing 6-month period | 33.09% | 6.84% | +26.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.42% | 9.24% | +28.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.34% | 15.74% | +14.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.65% | 14.83% | +13.82% |
IRBO vs. TLT - Expense Ratio Comparison
IRBO has a 0.47% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
IRBO vs. TLT - Dividend Comparison
IRBO's dividend yield for the trailing twelve months is around 0.06%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IRBO iShares Future AI & Tech ETF | 0.06% | 0.00% | 0.50% | 0.88% | 0.75% | 2.41% | 0.53% | 0.69% | 0.34% | 0.00% | 0.00% | 0.00% |
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
IRBO and TLT have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IRBO has higher volatility (14.41%) compared to TLT (2.51%). In terms of maximum drawdown, IRBO dropped -54.50% vs TLT's -48.35%.
On 5-year performance, IRBO leads with 10.52% vs -8.33% 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 5-year period, IRBO has performed better with a 10.52% return vs -8.33%. 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 0.47% for IRBO.
TLT has the higher dividend yield at 4.75%, compared with 0.06% for IRBO.
IRBO is categorized as Artificial Intelligence, while TLT is Government Bonds. IRBO tracks Morningstar Global Artificial Intelligence Select Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.47% for IRBO and 0.15% for TLT.
IRBO currently has the higher Sharpe Ratio (1.70 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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