IXP vs. TLT
IXP (iShares Global Comm Services ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - IXP is a Large Cap Growth Equities fund tracking the S&P Global 1200 Communication Services 4.5/22.5/45 Capped, 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, IXP returned 8.78%/yr vs -2.33%/yr for TLT. Their -0.17 correlation means they have often moved in opposite directions in the past. IXP charges 0.43%/yr vs 0.15%/yr for TLT.
Performance
IXP vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, IXP achieves a -1.64% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, IXP has outperformed TLT with an annualized return of 8.78%, while TLT has yielded a comparatively lower -2.33% annualized return.
IXP
- 1D
- 2.99%
- 1M
- 3.30%
- 6M
- -5.05%
- YTD
- -1.64%
- 1Y
- 9.01%
- 3Y*
- 21.46%
- 5Y*
- 8.32%
- 10Y*
- 8.78%
- ALL TIME*
- 6.65%
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) |
|---|---|---|---|
| $6.29M | $4.27M | $3.74M | |
| $2.39B | $2.06B | $2.20B |
IXP vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IXP iShares Global Comm Services ETF | -1.64% | 29.27% | 31.33% | 38.80% | -33.40% | 12.77% | 22.16% | 25.23% | -13.67% | 6.65% |
TLT iShares 20+ Year Treasury Bond ETF | -3.18% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between IXP and TLT is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.17 |
The correlation between IXP and TLT shifts across timeframes, from -0.17 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IXP vs. TLT — Risk / Return Rank
IXP
TLT
IXP vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Comm Services ETF (IXP) 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.
| IXP | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.97 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | -0.28 | +1.01 |
| Martin ratioReturn relative to average drawdown | 1.92 | -0.59 | +2.51 |
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Drawdowns
IXP vs. TLT - Drawdown Comparison
The maximum IXP drawdown since its inception was -50.11%, roughly equal to the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for IXP and TLT.
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Drawdown Indicators
| IXP | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.11% | -48.35% | -1.76% |
Max Drawdown (1Y)Largest decline over 1 year | -12.26% | -7.74% | -4.52% |
Max Drawdown (3Y)Largest decline over 3 years | -17.54% | -14.79% | -2.75% |
Max Drawdown (5Y)Largest decline over 5 years | -44.30% | -43.70% | -0.60% |
Max Drawdown (10Y)Largest decline over 10 years | -44.30% | -48.35% | +4.05% |
Current DrawdownCurrent decline from peak | -5.75% | -42.17% | +36.42% |
Average DrawdownAverage peak-to-trough decline | -11.89% | -14.00% | +2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.70% | 3.60% | +1.10% |
Volatility
IXP vs. TLT - Volatility Comparison
iShares Global Comm Services ETF (IXP) has a higher volatility of 6.73% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that IXP'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
| IXP | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.73% | 2.51% | +4.22% |
Volatility (6M)Calculated over the trailing 6-month period | 12.41% | 6.84% | +5.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.10% | 9.24% | +6.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.26% | 15.74% | +3.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.59% | 14.83% | +3.76% |
IXP vs. TLT - Expense Ratio Comparison
IXP has a 0.43% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
IXP vs. TLT - Dividend Comparison
IXP's dividend yield for the trailing twelve months is around 3.32%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IXP iShares Global Comm Services ETF | 3.32% | 2.98% | 1.35% | 1.24% | 0.62% | 1.80% | 0.95% | 2.18% | 4.32% | 3.41% | 4.02% | 3.89% |
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
IXP and TLT have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IXP has higher volatility (6.73%) compared to TLT (2.51%). In terms of maximum drawdown, IXP dropped -50.11% vs TLT's -48.35%.
On 10-year performance, IXP leads with 8.78% vs -2.33% 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 10-year period, IXP has performed better with a 8.78% return vs -2.33%. 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 0.43% for IXP.
TLT has the higher dividend yield at 4.75%, compared with 3.32% for IXP.
IXP is categorized as Large Cap Growth Equities, while TLT is Government Bonds. IXP tracks S&P Global 1200 Communication Services 4.5/22.5/45 Capped, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.43% for IXP and 0.15% for TLT.
IXP currently has the higher Sharpe Ratio (0.56 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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