IXJ vs. TLT
IXJ (iShares Global Healthcare ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IXJ is a Health & Biotech Equities fund tracking the S&P Global 1200 Health Care (Sector) Capped 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, IXJ returned 8.22%/yr vs -2.38%/yr for TLT. Their -0.15 correlation means they have often moved in opposite directions in the past. IXJ charges 0.40%/yr vs 0.15%/yr for TLT.
Performance
IXJ vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IXJ achieves a 3.85% return, which is significantly higher than TLT's -3.49% return. Over the past 10 years, IXJ has outperformed TLT with an annualized return of 8.22%, while TLT has yielded a comparatively lower -2.38% annualized return.
IXJ
- 1D
- -0.97%
- 1M
- -1.26%
- 6M
- 2.41%
- YTD
- 3.85%
- 1Y
- 21.78%
- 3Y*
- 7.07%
- 5Y*
- 4.53%
- 10Y*
- 8.22%
- ALL TIME*
- 7.37%
TLT
- 1D
- -0.66%
- 1M
- -3.81%
- 6M
- -3.46%
- YTD
- -3.49%
- 1Y
- -2.45%
- 3Y*
- -1.80%
- 5Y*
- -8.18%
- 10Y*
- -2.38%
- ALL TIME*
- 3.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.06M | $16.61M | $23.38M | |
| $2.33B | $2.02B | $2.19B |
IXJ vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IXJ iShares Global Healthcare ETF | 3.85% | 14.99% | 0.55% | 3.62% | -4.94% | 19.60% | 12.74% | 23.23% | 2.83% | 20.44% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between IXJ and TLT is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.28 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.18 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.15 |
The correlation between IXJ and TLT shifts across timeframes, from -0.15 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IXJ vs. TLT — Risk / Return Rank
IXJ
TLT
IXJ vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Healthcare ETF (IXJ) 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.
| IXJ | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.61 | ||
| Sortino ratioReturn per unit of downside risk | +2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.99 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | -0.14 | +2.24 |
| Martin ratioReturn relative to average drawdown | 4.99 | -0.30 | +5.29 |
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Drawdowns
IXJ vs. TLT - Drawdown Comparison
The maximum IXJ drawdown since its inception was -40.60%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IXJ and TLT.
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Drawdown Indicators
| IXJ | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.60% | -48.35% | +7.75% |
Max Drawdown (1Y)Largest decline over 1 year | -10.78% | -7.74% | -3.04% |
Max Drawdown (3Y)Largest decline over 3 years | -18.14% | -14.79% | -3.35% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -43.70% | +25.56% |
Max Drawdown (10Y)Largest decline over 10 years | -27.35% | -48.35% | +21.00% |
Current DrawdownCurrent decline from peak | -2.52% | -42.36% | +39.84% |
Average DrawdownAverage peak-to-trough decline | -6.90% | -13.99% | +7.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.52% | 3.57% | +0.95% |
Volatility
IXJ vs. TLT - Volatility Comparison
iShares Global Healthcare ETF (IXJ) has a higher volatility of 5.66% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.46%. This indicates that IXJ'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
| IXJ | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.66% | 2.46% | +3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 11.61% | 6.85% | +4.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.38% | 9.32% | +6.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.50% | 15.74% | -1.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.74% | 14.83% | +0.91% |
IXJ vs. TLT - Expense Ratio Comparison
IXJ has a 0.40% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
IXJ vs. TLT - Dividend Comparison
IXJ's dividend yield for the trailing twelve months is around 1.44%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IXJ iShares Global Healthcare ETF | 1.44% | 1.40% | 1.50% | 1.38% | 1.17% | 1.12% | 1.27% | 1.42% | 2.11% | 1.46% | 1.73% | 2.85% |
TLT iShares 20+ Year Treasury Bond ETF | 4.34% | 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
IXJ and TLT have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IXJ has higher volatility (5.66%) compared to TLT (2.46%). In terms of maximum drawdown, IXJ dropped -40.60% vs TLT's -48.35%.
On 10-year performance, IXJ leads with 8.22% vs -2.38% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IXJ has performed better with a 8.22% return vs -2.38%. 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 IXJ.
TLT has the higher dividend yield at 4.34%, compared with 1.44% for IXJ.
IXJ is categorized as Health & Biotech Equities, while TLT is Government Bonds. IXJ tracks S&P Global 1200 Health Care (Sector) Capped Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.40% for IXJ and 0.15% for TLT.
IXJ currently has the higher Sharpe Ratio (1.50 vs -0.11), 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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