IUSV vs. TLT
IUSV (iShares Core S&P U.S. Value ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IUSV is a Large Cap Value Equities fund tracking the S&P 900 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 10 years, IUSV returned 12.30%/yr vs -1.74%/yr for TLT. At a correlation of -0.27, they often move in opposite directions. IUSV charges 0.04%/yr vs 0.15%/yr for TLT.
Performance
IUSV vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IUSV achieves a 7.71% return, which is significantly higher than TLT's 0.77% return. Over the past 10 years, IUSV has outperformed TLT with an annualized return of 12.30%, while TLT has yielded a comparatively lower -1.74% annualized return.
IUSV
- 1D
- -0.36%
- 1M
- -0.29%
- YTD
- 7.71%
- 6M
- 7.04%
- 1Y
- 20.11%
- 3Y*
- 15.13%
- 5Y*
- 11.05%
- 10Y*
- 12.30%
TLT
- 1D
- 0.13%
- 1M
- 2.20%
- YTD
- 0.77%
- 6M
- 0.38%
- 1Y
- 3.87%
- 3Y*
- -1.89%
- 5Y*
- -6.59%
- 10Y*
- -1.74%
IUSV vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSV iShares Core S&P U.S. Value ETF | 7.71% | 12.85% | 12.18% | 21.73% | -5.40% | 25.22% | 1.56% | 31.47% | -9.21% | 15.09% |
TLT iShares 20+ Year Treasury Bond ETF | 0.77% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between IUSV and TLT is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.27 |
The correlation between IUSV and TLT shifts across timeframes, from -0.27 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IUSV vs. TLT — Risk / Return Rank
IUSV
TLT
IUSV vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P U.S. Value ETF (IUSV) 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.
| IUSV | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.59 | ||
| Sortino ratioReturn per unit of downside risk | +2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.07 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | 0.51 | +2.66 |
| Martin ratioReturn relative to average drawdown | 12.08 | 1.22 | +10.86 |
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Drawdowns
IUSV vs. TLT - Drawdown Comparison
The maximum IUSV drawdown since its inception was -56.88%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IUSV and TLT.
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Drawdown Indicators
| IUSV | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.88% | -48.35% | -8.53% |
Max Drawdown (1Y)Largest decline over 1 year | -6.36% | -7.58% | +1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -17.76% | -19.18% | +1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -17.95% | -43.70% | +25.75% |
Max Drawdown (10Y)Largest decline over 10 years | -37.54% | -48.35% | +10.81% |
Current DrawdownCurrent decline from peak | -1.31% | -39.82% | +38.51% |
Average DrawdownAverage peak-to-trough decline | -6.28% | -13.87% | +7.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 3.18% | -1.51% |
Volatility
IUSV vs. TLT - Volatility Comparison
iShares Core S&P U.S. Value ETF (IUSV) has a higher volatility of 3.03% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.20%. This indicates that IUSV'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
| IUSV | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.03% | 2.20% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 7.46% | 6.62% | +0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.11% | 9.48% | +0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.53% | 15.82% | -1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 14.88% | +2.16% |
IUSV vs. TLT - Expense Ratio Comparison
IUSV 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
IUSV vs. TLT - Dividend Comparison
IUSV's dividend yield for the trailing twelve months is around 1.70%, less than TLT's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUSV iShares Core S&P U.S. Value ETF | 1.70% | 1.78% | 2.15% | 1.75% | 2.22% | 1.87% | 2.40% | 2.19% | 2.67% | 1.93% | 4.44% | 7.63% |
TLT iShares 20+ Year Treasury Bond ETF | 4.54% | 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
IUSV and TLT have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IUSV has higher volatility (3.03%) compared to TLT (2.20%). In terms of maximum drawdown, IUSV dropped -56.88% vs TLT's -48.35%.
On 10-year performance, IUSV leads with 12.30% vs -1.74% for TLT. On fees, IUSV is cheaper at 0.04% per year. On volatility, TLT has been the lower-risk option at 2.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IUSV has performed better with a 12.30% return vs -1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IUSV is cheaper with a 0.04% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.54%, compared with 1.70% for IUSV.
IUSV is categorized as Large Cap Value Equities, while TLT is Government Bonds. IUSV tracks S&P 900 Value Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.04% for IUSV and 0.15% for TLT.
IUSV currently has the higher Sharpe Ratio (2.00 vs 0.41), 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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