LQDH vs. TLT
LQDH (iShares Interest Rate Hedged Corporate Bond ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - LQDH is a Corporate Bonds fund actively managed by iShares, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. LQDH is actively managed, while TLT is passively managed. Over the past 10 years, LQDH returned 4.53%/yr vs -2.33%/yr for TLT. Their -0.00 correlation means they have often moved in opposite directions in the past. LQDH charges 0.25%/yr vs 0.15%/yr for TLT.
Performance
LQDH vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, LQDH achieves a 2.26% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, LQDH has outperformed TLT with an annualized return of 4.53%, while TLT has yielded a comparatively lower -2.33% annualized return.
LQDH
- 1D
- 0.19%
- 1M
- -0.12%
- 6M
- 1.63%
- YTD
- 2.26%
- 1Y
- 5.96%
- 3Y*
- 7.11%
- 5Y*
- 5.25%
- 10Y*
- 4.53%
- ALL TIME*
- 3.51%
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) |
|---|---|---|---|
| $6.46M | $4.42M | $3.83M | |
| $2.39B | $2.06B | $2.20B |
LQDH vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LQDH iShares Interest Rate Hedged Corporate Bond ETF | 2.26% | 7.00% | 7.43% | 11.14% | -1.88% | 1.84% | 1.68% | 9.50% | -2.20% | 6.00% |
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 LQDH and TLT is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.15 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2014 | -0.00 |
The correlation between LQDH and TLT shifts across timeframes, from -0.00 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LQDH vs. TLT — Risk / Return Rank
LQDH
TLT
LQDH vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged Corporate Bond ETF (LQDH) 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.
| LQDH | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.53 | ||
| Sortino ratioReturn per unit of downside risk | +3.79 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 0.97 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | -0.28 | +2.83 |
| Martin ratioReturn relative to average drawdown | 10.41 | -0.59 | +11.00 |
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Drawdowns
LQDH vs. TLT - Drawdown Comparison
The maximum LQDH drawdown since its inception was -24.63%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for LQDH and TLT.
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Drawdown Indicators
| LQDH | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.63% | -48.35% | +23.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | -7.74% | +5.40% |
Max Drawdown (3Y)Largest decline over 3 years | -4.86% | -14.79% | +9.93% |
Max Drawdown (5Y)Largest decline over 5 years | -7.08% | -43.70% | +36.62% |
Max Drawdown (10Y)Largest decline over 10 years | -24.63% | -48.35% | +23.72% |
Current DrawdownCurrent decline from peak | -0.30% | -42.17% | +41.87% |
Average DrawdownAverage peak-to-trough decline | -1.66% | -14.00% | +12.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 3.60% | -3.03% |
Volatility
LQDH vs. TLT - Volatility Comparison
The current volatility for iShares Interest Rate Hedged Corporate Bond ETF (LQDH) is 0.53%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.51%. This indicates that LQDH experiences smaller price fluctuations and is considered to be less risky 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
| LQDH | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 2.51% | -1.98% |
Volatility (6M)Calculated over the trailing 6-month period | 1.99% | 6.84% | -4.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.61% | 9.24% | -6.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.39% | 15.74% | -11.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.42% | 14.83% | -8.41% |
LQDH vs. TLT - Expense Ratio Comparison
LQDH has a 0.25% expense ratio, which is higher than TLT's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
LQDH vs. TLT - Dividend Comparison
LQDH's dividend yield for the trailing twelve months is around 5.92%, more than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LQDH iShares Interest Rate Hedged Corporate Bond ETF | 5.92% | 6.06% | 7.57% | 7.69% | 3.73% | 1.65% | 2.22% | 3.09% | 5.08% | 2.37% | 2.33% | 2.98% |
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
LQDH and TLT have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.51%) compared to LQDH (0.53%). In terms of maximum drawdown, LQDH dropped -24.63% vs TLT's -48.35%.
On 10-year performance, LQDH leads with 4.53% vs -2.33% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, LQDH has been the lower-risk option at 0.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, LQDH has performed better with a 4.53% 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 0.25% for LQDH.
LQDH has the higher dividend yield at 5.92%, compared with 4.75% for TLT.
LQDH is categorized as Corporate Bonds, while TLT is Government Bonds. Their fees differ too: 0.25% for LQDH and 0.15% for TLT.
LQDH currently has the higher Sharpe Ratio (2.30 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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