IVVB vs. TLT
IVVB (iShares Large Cap Deep Buffer ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IVVB is a Options Trading fund actively managed by iShares, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. IVVB is actively managed, while TLT is passively managed. Over the past 3 years, IVVB returned 12.04%/yr vs -1.15%/yr for TLT. Their 0.15 correlation means their historical movements had little consistent relationship. IVVB charges 0.50%/yr vs 0.15%/yr for TLT.
Performance
IVVB vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IVVB achieves a 5.99% return, which is significantly higher than TLT's -3.18% return.
IVVB
- 1D
- 0.95%
- 1M
- 1.30%
- 6M
- 4.20%
- YTD
- 5.99%
- 1Y
- 13.63%
- 3Y*
- 12.04%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.87%
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) |
|---|---|---|---|
| $481.69K | $525.72K | $902.08K | |
| $2.39B | $2.06B | $2.20B |
IVVB vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IVVB iShares Large Cap Deep Buffer ETF | 5.99% | 9.60% | 18.66% | 2.64% |
TLT iShares 20+ Year Treasury Bond ETF | -3.18% | 4.25% | -8.05% | -0.71% |
Correlation
The correlation between IVVB and TLT is 0.17, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023 | 0.16 |
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Return for Risk
IVVB vs. TLT — Risk / Return Rank
IVVB
TLT
IVVB vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Deep Buffer ETF (IVVB) 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.
| IVVB | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.01 | ||
| Sortino ratioReturn per unit of downside risk | +2.77 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.97 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | -0.28 | +2.66 |
| Martin ratioReturn relative to average drawdown | 9.97 | -0.59 | +10.56 |
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Drawdowns
IVVB vs. TLT - Drawdown Comparison
The maximum IVVB drawdown since its inception was -13.08%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IVVB and TLT.
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Drawdown Indicators
| IVVB | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.08% | -48.35% | +35.27% |
Max Drawdown (1Y)Largest decline over 1 year | -5.75% | -7.74% | +1.99% |
Max Drawdown (3Y)Largest decline over 3 years | -13.08% | -14.79% | +1.71% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | 0.00% | -42.17% | +42.17% |
Average DrawdownAverage peak-to-trough decline | -1.55% | -14.00% | +12.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 3.60% | -2.23% |
Volatility
IVVB vs. TLT - Volatility Comparison
iShares Large Cap Deep Buffer ETF (IVVB) and iShares 20+ Year Treasury Bond ETF (TLT) have volatilities of 2.57% and 2.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVVB | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 2.51% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 5.53% | 6.84% | -1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.70% | 9.24% | -1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.20% | 15.74% | -6.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.20% | 14.83% | -5.63% |
IVVB vs. TLT - Expense Ratio Comparison
IVVB has a 0.50% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
IVVB vs. TLT - Dividend Comparison
IVVB's dividend yield for the trailing twelve months is around 1.16%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVVB iShares Large Cap Deep Buffer ETF | 1.16% | 1.22% | 0.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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
IVVB and TLT have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVVB has higher volatility (2.57%) compared to TLT (2.51%). In terms of maximum drawdown, IVVB dropped -13.08% vs TLT's -48.35%.
On 3-year performance, IVVB leads with 12.04% vs -1.15% for TLT. On fees, TLT is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IVVB has performed better with a 12.04% return vs -1.15%. 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 0.50% for IVVB.
TLT has the higher dividend yield at 4.75%, compared with 1.16% for IVVB.
IVVB is categorized as Options Trading, while TLT is Government Bonds. Their fees differ too: 0.50% for IVVB and 0.15% for TLT.
IVVB currently has the higher Sharpe Ratio (1.78 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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