ISVL vs. TLT
ISVL (iShares International Developed Small Cap Value Factor ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - ISVL is a Small Cap Value Equities fund tracking the FTSE Developed ex US ex Korea Small Cap Focused Value 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, ISVL returned 10.07%/yr vs -6.31%/yr for TLT. At a 0.14 correlation, their price movements are largely independent. ISVL charges 0.30%/yr vs 0.15%/yr for TLT.
Performance
ISVL vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, ISVL achieves a 8.45% return, which is significantly higher than TLT's -0.27% return.
ISVL
- 1D
- -1.11%
- 1M
- 2.16%
- YTD
- 8.45%
- 6M
- 12.58%
- 1Y
- 28.37%
- 3Y*
- 21.34%
- 5Y*
- 10.07%
- 10Y*
- —
TLT
- 1D
- -0.40%
- 1M
- 0.81%
- YTD
- -0.27%
- 6M
- -2.02%
- 1Y
- 4.93%
- 3Y*
- -1.80%
- 5Y*
- -6.31%
- 10Y*
- -1.66%
ISVL vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ISVL iShares International Developed Small Cap Value Factor ETF | 8.45% | 42.84% | 4.58% | 17.56% | -13.69% | 7.69% |
TLT iShares 20+ Year Treasury Bond ETF | -0.27% | 4.25% | -8.05% | 2.77% | -31.23% | 9.47% |
Correlation
The correlation between ISVL and TLT is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021 | 0.14 |
Over the past year, ISVL and TLT have become more correlated (0.34) than their long-term average of 0.14, meaning their price movements have been converging.
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Return for Risk
ISVL vs. TLT — Risk / Return Rank
ISVL
TLT
ISVL vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares International Developed Small Cap Value Factor ETF (ISVL) 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.
| ISVL | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.09 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 0.65 | +1.63 |
| Martin ratioReturn relative to average drawdown | 8.95 | 1.63 | +7.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ISVL | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.98 | 0.51 | +1.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | -0.40 | +1.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.26 | +0.44 |
Drawdowns
ISVL vs. TLT - Drawdown Comparison
The maximum ISVL drawdown since its inception was -30.48%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for ISVL and TLT.
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Drawdown Indicators
| ISVL | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.48% | -48.35% | +17.87% |
Max Drawdown (1Y)Largest decline over 1 year | -12.48% | -7.58% | -4.90% |
Max Drawdown (3Y)Largest decline over 3 years | -12.93% | -19.18% | +6.25% |
Max Drawdown (5Y)Largest decline over 5 years | -30.48% | -43.70% | +13.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -2.16% | -40.44% | +38.28% |
Average DrawdownAverage peak-to-trough decline | -6.66% | -13.82% | +7.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.18% | 3.04% | +0.14% |
Volatility
ISVL vs. TLT - Volatility Comparison
iShares International Developed Small Cap Value Factor ETF (ISVL) has a higher volatility of 4.54% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. This indicates that ISVL'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
| ISVL | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 2.76% | +1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 12.01% | 6.50% | +5.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.47% | 9.77% | +4.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.90% | 15.87% | +1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.78% | 14.91% | +1.87% |
ISVL vs. TLT - Expense Ratio Comparison
ISVL has a 0.30% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
ISVL vs. TLT - Dividend Comparison
ISVL's dividend yield for the trailing twelve months is around 2.48%, less than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISVL iShares International Developed Small Cap Value Factor ETF | 2.48% | 2.69% | 3.92% | 3.82% | 3.37% | 2.82% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.59% | 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
ISVL and TLT have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISVL has higher volatility (4.54%) compared to TLT (2.76%). In terms of maximum drawdown, ISVL dropped -30.48% vs TLT's -48.35%.
On 5-year performance, ISVL leads with 10.07% vs -6.31% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ISVL has performed better with a 10.07% return vs -6.31%. 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 0.30% for ISVL.
TLT has the higher dividend yield at 4.59%, compared with 2.48% for ISVL.
ISVL is categorized as Small Cap Value Equities, while TLT is Government Bonds. ISVL tracks FTSE Developed ex US ex Korea Small Cap Focused Value Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.30% for ISVL and 0.15% for TLT.
ISVL currently has the higher Sharpe Ratio (1.98 vs 0.51), 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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