LTPZ vs. TLT
Compare and contrast key facts about PIMCO 15+ Year US TIPS Index ETF (LTPZ) and iShares 20+ Year Treasury Bond ETF (TLT).
LTPZ and TLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LTPZ is a passively managed fund by PIMCO that tracks the performance of the ICE BofA US Inflation-Linked Treasury (15+ Y). It was launched on Sep 3, 2009. TLT is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 20+ Year Treasury Bond Index. It was launched on Jul 26, 2002. Both LTPZ and TLT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: LTPZ or TLT.
Key characteristics
| LTPZ | TLT | |
|---|---|---|
| YTD Return | 0.30% | -3.80% |
| 1Y Return | 8.93% | 8.80% |
| 3Y Return (Ann) | -11.77% | -11.89% |
| 5Y Return (Ann) | -1.39% | -5.28% |
| 10Y Return (Ann) | 1.29% | -0.12% |
| Sharpe Ratio | 0.68 | 0.63 |
| Sortino Ratio | 1.05 | 0.98 |
| Omega Ratio | 1.12 | 1.11 |
| Calmar Ratio | 0.24 | 0.21 |
| Martin Ratio | 2.21 | 1.56 |
| Ulcer Index | 4.12% | 6.03% |
| Daily Std Dev | 13.38% | 14.94% |
| Max Drawdown | -40.99% | -48.35% |
| Current Drawdown | -32.14% | -40.06% |
Correlation
The correlation between LTPZ and TLT is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
LTPZ vs. TLT - Performance Comparison
In the year-to-date period, LTPZ achieves a 0.30% return, which is significantly higher than TLT's -3.80% return. Over the past 10 years, LTPZ has outperformed TLT with an annualized return of 1.29%, while TLT has yielded a comparatively lower -0.12% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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LTPZ vs. TLT - Expense Ratio Comparison
LTPZ has a 0.20% 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%.
Risk-Adjusted Performance
LTPZ vs. TLT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 15+ Year US TIPS Index ETF (LTPZ) 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.
Dividends
LTPZ vs. TLT - Dividend Comparison
LTPZ's dividend yield for the trailing twelve months is around 3.39%, less than TLT's 4.00% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year US TIPS Index ETF | 3.39% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.80% | 2.25% | 2.32% | 0.71% | 1.77% | 1.28% |
TLT iShares 20+ Year Treasury Bond ETF | 4.00% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% | 2.67% | 3.26% |
Drawdowns
LTPZ vs. TLT - Drawdown Comparison
The maximum LTPZ drawdown since its inception was -40.99%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for LTPZ and TLT. For additional features, visit the drawdowns tool.
Volatility
LTPZ vs. TLT - Volatility Comparison
The current volatility for PIMCO 15+ Year US TIPS Index ETF (LTPZ) is 4.12%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 5.02%. This indicates that LTPZ 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.