MT vs. TLT

Last updated Jun 3, 2026

MT (ArcelorMittal) is a stock, while TLT (iShares 20+ Year Treasury Bond ETF) is Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Over the past 10 years, MT returned 17.45%/yr vs -1.62%/yr for TLT. At a correlation of -0.22, they often move in opposite directions.

Performance

MT vs. TLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ArcelorMittal (MT) and iShares 20+ Year Treasury Bond ETF (TLT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MT achieves a 57.85% return, which is significantly higher than TLT's 0.13% return. Over the past 10 years, MT has outperformed TLT with an annualized return of 17.45%, while TLT has yielded a comparatively lower -1.62% annualized return.

MT

• 1D: 1.99%
• 1M: 26.23%
• YTD: 57.85%
• 6M: 64.75%
• 1Y: 136.51%
• 3Y*: 41.05%
• 5Y*: 18.83%
• 10Y*: 17.45%

TLT

• 1D: 0.21%
• 1M: 0.44%
• YTD: 0.13%
• 6M: -1.35%
• 1Y: 5.16%
• 3Y*: -1.67%
• 5Y*: -5.98%
• 10Y*: -1.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MT vs. TLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MT ArcelorMittal	57.85%	100.13%	-16.92%	10.28%	-16.44%	40.29%	30.56%	-14.14%	-35.85%	47.53%
TLT iShares 20+ Year Treasury Bond ETF	0.13%	4.25%	-8.05%	2.77%	-31.23%	-4.60%	18.15%	14.12%	-1.61%	9.18%

Correlation

The correlation between MT and TLT is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (10Y) Calculated over the trailing 10-year period	-0.16
Correlation (All Time) Calculated using the full available price history since Jul 29, 2002	-0.22

The correlation between MT and TLT shifts across timeframes, from -0.22 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MT vs. TLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MT

MT Risk / Return Rank: 93
MT Sharpe Ratio Rank: 95
MT Sortino Ratio Rank: 94
MT Omega Ratio Rank: 92
MT Calmar Ratio Rank: 90
MT Martin Ratio Rank: 93

TLT

TLT Risk / Return Rank: 16
TLT Sharpe Ratio Rank: 17
TLT Sortino Ratio Rank: 17
TLT Omega Ratio Rank: 16
TLT Calmar Ratio Rank: 15
TLT Martin Ratio Rank: 15

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MT vs. TLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ArcelorMittal (MT) 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.

	MT	TLT	Difference
Sharpe ratio Return per unit of total volatility	3.37	0.53	+2.84
Sortino ratio Return per unit of downside risk	3.89	0.83	+3.06
Omega ratio Gain probability vs. loss probability	1.49	1.09	+0.39
Calmar ratio Return relative to maximum drawdown	4.74	0.55	+4.19
Martin ratio Return relative to average drawdown	16.68	1.38	+15.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MT vs. TLT - Sharpe Ratio Comparison

The current MT Sharpe Ratio is 3.37, which is higher than the TLT Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of MT and TLT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MT	TLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.37	0.53	+2.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	-0.38	+0.86
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	-0.11	+0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.26	-0.22

Drawdowns

MT vs. TLT - Drawdown Comparison

The maximum MT drawdown since its inception was -97.34%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for MT and TLT.

Drawdown Indicators

	MT	TLT	Difference
Max Drawdown Largest peak-to-trough decline	-97.34%	-48.35%	-48.99%
Max Drawdown (1Y) Largest decline over 1 year	-28.84%	-7.58%	-21.26%
Max Drawdown (3Y) Largest decline over 3 years	-30.83%	-19.18%	-11.65%
Max Drawdown (5Y) Largest decline over 5 years	-45.99%	-43.70%	-2.29%
Max Drawdown (10Y) Largest decline over 10 years	-81.10%	-48.35%	-32.75%
Current Drawdown Current decline from peak	-58.25%	-40.20%	-18.05%
Average Drawdown Average peak-to-trough decline	-69.41%	-13.81%	-55.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.20%	3.02%	+5.18%

Volatility

MT vs. TLT - Volatility Comparison

ArcelorMittal (MT) has a higher volatility of 15.83% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.84%. This indicates that MT'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.

Volatility by Period

	MT	TLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.83%	2.84%	+12.99%
Volatility (6M) Calculated over the trailing 6-month period	34.12%	6.60%	+27.52%
Volatility (1Y) Calculated over the trailing 1-year period	40.69%	9.81%	+30.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.67%	15.87%	+23.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.88%	14.91%	+29.97%

Dividends

MT vs. TLT - Dividend Comparison

MT's dividend yield for the trailing twelve months is around 0.80%, less than TLT's 4.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MT ArcelorMittal	0.80%	1.21%	2.16%	1.55%	1.45%	0.94%	0.00%	1.14%	0.48%	0.00%	0.00%	4.03%
TLT iShares 20+ Year Treasury Bond ETF	4.57%	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

Can I hold both MT and TLT in my portfolio?

MT and TLT have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MT or TLT?

MT has higher volatility (15.83%) compared to TLT (2.84%). In terms of maximum drawdown, MT dropped -97.34% vs TLT's -48.35%.

Which has better risk-adjusted returns?

MT currently has the higher Sharpe Ratio (3.37 vs 0.53), 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.