REET vs. TLT
REET (iShares Global REIT ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - REET is a REIT fund tracking the FTSE EPRA/NAREIT Global REIT 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, REET returned 4.01%/yr vs -2.33%/yr for TLT. Their 0.09 correlation means their historical movements had little consistent relationship. REET charges 0.14%/yr vs 0.15%/yr for TLT.
Performance
REET vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, REET achieves a 15.16% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, REET has outperformed TLT with an annualized return of 4.01%, while TLT has yielded a comparatively lower -2.33% annualized return.
REET
- 1D
- 0.04%
- 1M
- 1.47%
- 6M
- 12.67%
- YTD
- 15.16%
- 1Y
- 20.36%
- 3Y*
- 10.98%
- 5Y*
- 3.01%
- 10Y*
- 4.01%
- ALL TIME*
- 4.94%
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) |
|---|---|---|---|
| $82.36M | $81.98M | $69.69M | |
| $2.39B | $2.06B | $2.20B |
REET vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REET iShares Global REIT ETF | 15.16% | 7.97% | 2.65% | 10.28% | -24.10% | 32.43% | -10.48% | 24.42% | -5.27% | 7.48% |
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 REET and TLT is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.27 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2014 | 0.09 |
Over the past year, REET and TLT have become more correlated (0.34) than their long-term average of 0.09, meaning their price movements have been converging.
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Return for Risk
REET vs. TLT — Risk / Return Rank
REET
TLT
REET vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global REIT ETF (REET) 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.
| REET | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.89 | ||
| Sortino ratioReturn per unit of downside risk | +2.57 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.97 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | -0.28 | +2.54 |
| Martin ratioReturn relative to average drawdown | 8.30 | -0.59 | +8.89 |
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Drawdowns
REET vs. TLT - Drawdown Comparison
The maximum REET drawdown since its inception was -44.59%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for REET and TLT.
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Drawdown Indicators
| REET | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.59% | -48.35% | +3.76% |
Max Drawdown (1Y)Largest decline over 1 year | -9.04% | -7.74% | -1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -18.02% | -14.79% | -3.23% |
Max Drawdown (5Y)Largest decline over 5 years | -32.11% | -43.70% | +11.59% |
Max Drawdown (10Y)Largest decline over 10 years | -44.59% | -48.35% | +3.76% |
Current DrawdownCurrent decline from peak | -1.73% | -42.17% | +40.44% |
Average DrawdownAverage peak-to-trough decline | -9.66% | -14.00% | +4.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 3.60% | -1.14% |
Volatility
REET vs. TLT - Volatility Comparison
iShares Global REIT ETF (REET) has a higher volatility of 3.53% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that REET'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
| REET | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.53% | 2.51% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 9.88% | 6.84% | +3.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.38% | 9.24% | +3.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.97% | 15.74% | +1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.84% | 14.83% | +4.01% |
REET vs. TLT - Expense Ratio Comparison
REET has a 0.14% expense ratio, which is lower than TLT's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
REET vs. TLT - Dividend Comparison
REET's dividend yield for the trailing twelve months is around 3.27%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
REET iShares Global REIT ETF | 3.27% | 3.67% | 3.64% | 3.27% | 2.43% | 3.18% | 2.65% | 5.25% | 5.73% | 3.84% | 5.37% | 3.56% |
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
REET and TLT have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REET has higher volatility (3.53%) compared to TLT (2.51%). In terms of maximum drawdown, REET dropped -44.59% vs TLT's -48.35%.
On 10-year performance, REET leads with 4.01% vs -2.33% for TLT. On fees, REET is cheaper at 0.14% 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, REET has performed better with a 4.01% return vs -2.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REET is cheaper with a 0.14% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.75%, compared with 3.27% for REET.
REET is categorized as REIT, while TLT is Government Bonds. REET tracks FTSE EPRA/NAREIT Global REIT Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.14% for REET and 0.15% for TLT.
REET currently has the higher Sharpe Ratio (1.65 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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