MBBA vs. TLT
MBBA (iShares Mortgage-Backed Securities Active ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - MBBA is a Mortgage Backed Securities fund actively managed by iShares, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. MBBA is actively managed, while TLT is passively managed. A 0.79 correlation means they provide meaningful diversification when combined. MBBA charges 0.25%/yr vs 0.15%/yr for TLT.
Performance
MBBA vs. TLT - Performance Comparison
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Returns By Period
MBBA
- 1D
- -0.15%
- 1M
- -0.57%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- -0.04%
- 1M
- -1.94%
- 6M
- -2.48%
- YTD
- -1.19%
- 1Y
- 3.43%
- 3Y*
- -1.99%
- 5Y*
- -7.58%
- 10Y*
- -2.13%
MBBA vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MBBA iShares Mortgage-Backed Securities Active ETF | 0.72% |
TLT iShares 20+ Year Treasury Bond ETF | -2.06% |
Correlation
The correlation between MBBA and TLT is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 26, 2026 | 0.79 |
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Return for Risk
MBBA vs. TLT — Risk / Return Rank
MBBA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TLT
MBBA vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Mortgage-Backed Securities Active ETF (MBBA) 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.
| MBBA | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.07 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.45 | — |
| Martin ratioReturn relative to average drawdown | — | 1.04 | — |
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Drawdowns
MBBA vs. TLT - Drawdown Comparison
The maximum MBBA drawdown since its inception was -2.83%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for MBBA and TLT.
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Drawdown Indicators
| MBBA | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.83% | -48.35% | +45.52% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.58% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.88% | — |
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 | -1.27% | -40.99% | +39.72% |
Average DrawdownAverage peak-to-trough decline | -1.10% | -13.94% | +12.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.31% | — |
Volatility
MBBA vs. TLT - Volatility Comparison
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Volatility by Period
| MBBA | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.59% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 6.79% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.60% | 9.35% | -4.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.60% | 15.78% | -11.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.60% | 14.83% | -10.23% |
MBBA vs. TLT - Expense Ratio Comparison
MBBA 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
MBBA vs. TLT - Dividend Comparison
MBBA's dividend yield for the trailing twelve months is around 2.21%, less than TLT's 4.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MBBA iShares Mortgage-Backed Securities Active ETF | 2.21% | 0.00% | 0.00% | 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 | 4.64% | 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
MBBA and TLT have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TLT is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLT is cheaper with a 0.15% expense ratio, compared with 0.25% for MBBA.
TLT has the higher dividend yield at 4.64%, compared with 2.21% for MBBA.
MBBA is categorized as Mortgage Backed Securities, while TLT is Government Bonds. Their fees differ too: 0.25% for MBBA and 0.15% for TLT.
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