POWR vs. TLT
POWR (iShares U.S. Power Infrastructure ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - POWR is a Infrastructure Equities fund tracking the S&P U.S. Power Infrastructure Select Index, 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, POWR returned 8.15%/yr vs -2.23%/yr for TLT. Their -0.22 correlation means they have often moved in opposite directions in the past. POWR charges 0.40%/yr vs 0.15%/yr for TLT.
Performance
POWR vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, POWR achieves a 13.36% return, which is significantly higher than TLT's -2.22% return. Over the past 10 years, POWR has outperformed TLT with an annualized return of 8.15%, while TLT has yielded a comparatively lower -2.23% annualized return.
POWR
- 1D
- -1.01%
- 1M
- -3.18%
- 6M
- 7.64%
- YTD
- 13.36%
- 1Y
- 17.32%
- 3Y*
- 7.97%
- 5Y*
- 16.00%
- 10Y*
- 8.15%
- ALL TIME*
- 4.13%
TLT
- 1D
- 0.22%
- 1M
- -2.48%
- 6M
- -1.90%
- YTD
- -2.22%
- 1Y
- -1.73%
- 3Y*
- -0.82%
- 5Y*
- -7.75%
- 10Y*
- -2.23%
- ALL TIME*
- 3.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.65M | $6.89M | $7.30M | |
| $2.70B | $2.15B | $2.23B |
POWR vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
POWR iShares U.S. Power Infrastructure ETF | 13.36% | 10.81% | -1.30% | 3.66% | 42.54% | 42.03% | -28.30% | 8.44% | -11.74% | 9.69% |
TLT iShares 20+ Year Treasury Bond ETF | -2.22% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between POWR and TLT is 0.13, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.08 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.19 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012 | -0.22 |
The correlation between POWR and TLT shifts across timeframes, from -0.22 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
POWR vs. TLT — Risk / Return Rank
POWR
TLT
POWR vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Power Infrastructure ETF (POWR) 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.
| POWR | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.98 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | -0.22 | +2.01 |
| Martin ratioReturn relative to average drawdown | 6.11 | -0.48 | +6.59 |
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Drawdowns
POWR vs. TLT - Drawdown Comparison
The maximum POWR drawdown since its inception was -65.98%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for POWR and TLT.
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Drawdown Indicators
| POWR | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.98% | -48.35% | -17.63% |
Max Drawdown (1Y)Largest decline over 1 year | -9.77% | -7.74% | -2.03% |
Max Drawdown (3Y)Largest decline over 3 years | -23.14% | -14.79% | -8.35% |
Max Drawdown (5Y)Largest decline over 5 years | -25.09% | -43.70% | +18.61% |
Max Drawdown (10Y)Largest decline over 10 years | -63.42% | -48.35% | -15.07% |
Current DrawdownCurrent decline from peak | -5.75% | -41.60% | +35.85% |
Average DrawdownAverage peak-to-trough decline | -17.98% | -14.00% | -3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 3.65% | -0.81% |
Volatility
POWR vs. TLT - Volatility Comparison
iShares U.S. Power Infrastructure ETF (POWR) has a higher volatility of 5.32% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that POWR'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
| POWR | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 2.51% | +2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 13.52% | 6.88% | +6.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.29% | 9.25% | +8.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.92% | 15.74% | +7.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.50% | 14.83% | +10.67% |
POWR vs. TLT - Expense Ratio Comparison
POWR has a 0.40% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
POWR vs. TLT - Dividend Comparison
POWR's dividend yield for the trailing twelve months is around 5.69%, more than TLT's 4.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
POWR iShares U.S. Power Infrastructure ETF | 5.69% | 7.56% | 4.36% | 4.16% | 4.82% | 3.94% | 3.96% | 5.71% | 3.17% | 3.11% | 2.75% | 3.42% |
TLT iShares 20+ Year Treasury Bond ETF | 4.70% | 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
POWR and TLT have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
POWR has higher volatility (5.32%) compared to TLT (2.51%). In terms of maximum drawdown, POWR dropped -65.98% vs TLT's -48.35%.
On 10-year performance, POWR leads with 8.15% vs -2.23% 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, POWR has performed better with a 8.15% return vs -2.23%. 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 0.40% for POWR.
POWR has the higher dividend yield at 5.69%, compared with 4.70% for TLT.
POWR is categorized as Infrastructure Equities, while TLT is Government Bonds. POWR tracks S&P U.S. Power Infrastructure Select Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.40% for POWR and 0.15% for TLT.
POWR currently has the higher Sharpe Ratio (1.01 vs -0.19), 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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