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RINF vs. TLT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RINF vs. TLT

Last updated Jun 4, 2026

RINF (ProShares Inflation Expectations ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - RINF is a Inflation-Protected Bonds fund tracking the FTSE 30-Year TIPS (Treasury Rate-Hedged) 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, RINF returned 4.69%/yr vs -1.66%/yr for TLT. At a correlation of -0.30, they often move in opposite directions. RINF charges 0.30%/yr vs 0.15%/yr for TLT.

Performance

RINF vs. TLT - Performance Comparison

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

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Returns By Period

In the year-to-date period, RINF achieves a 2.37% return, which is significantly higher than TLT's -0.27% return. Over the past 10 years, RINF has outperformed TLT with an annualized return of 4.69%, while TLT has yielded a comparatively lower -1.66% annualized return.

RINF

1D
-0.07%
1M
0.43%
YTD
2.37%
6M
3.08%
1Y
2.48%
3Y*
4.84%
5Y*
5.43%
10Y*
4.69%

TLT

1D
-0.40%
1M
0.81%
YTD
-0.27%
6M
-2.02%
1Y
4.93%
3Y*
-1.80%
5Y*
-6.31%
10Y*
-1.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RINF vs. TLT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RINF
ProShares Inflation Expectations ETF		2.37%1.64%9.79%0.21%8.77%16.20%1.98%1.82%-0.79%-1.70%
TLT
iShares 20+ Year Treasury Bond ETF		-0.27%4.25%-8.05%2.77%-31.23%-4.60%18.15%14.12%-1.61%9.18%

Correlation

The correlation between RINF and TLT is -0.55, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.55

Correlation (3Y)
Calculated over the trailing 3-year period

-0.56

Correlation (5Y)
Calculated over the trailing 5-year period

-0.48

Correlation (10Y)
Calculated over the trailing 10-year period

-0.35

Correlation (All Time)
Calculated using the full available price history since Jan 13, 2012

-0.30

Over the past year, the inverse relationship between RINF and TLT has strengthened: their correlation has moved from -0.30 to -0.55, meaning they now move in opposite directions more often than their long-term average.

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ProShares Inflation Expectations ETF

iShares 20+ Year Treasury Bond ETF

Often compared with RINF:
RINF vs. COMM.LRINF vs. TUARINF vs. TYARINF vs. IEFRINF vs. IRVHRINF vs. TIPZRINF vs. SPY
Often compared with TLT:
TLT vs. SPYTLT vs. IEFTLT vs. TMFTLT vs. BNDTLT vs. VGLTTLT vs. TLTWTLT vs. EDV

Return for Risk

RINF vs. TLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RINF
RINF Risk / Return Rank: 1818
Overall Rank
RINF Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
RINF Sortino Ratio Rank: 1616
Sortino Ratio Rank
RINF Omega Ratio Rank: 1616
Omega Ratio Rank
RINF Calmar Ratio Rank: 2121
Calmar Ratio Rank
RINF Martin Ratio Rank: 1818
Martin Ratio Rank
TLT
TLT Risk / Return Rank: 1616
Overall Rank
TLT Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
TLT Sortino Ratio Rank: 1515
Sortino Ratio Rank
TLT Omega Ratio Rank: 1515
Omega Ratio Rank
TLT Calmar Ratio Rank: 1717
Calmar Ratio Rank
TLT Martin Ratio Rank: 1616
Martin Ratio Rank
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.

RINF vs. TLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Inflation Expectations ETF (RINF) 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.

RINFTLTDifference
Sharpe ratioReturn per unit of total volatility
0.56
0.51

+0.05

Sortino ratioReturn per unit of downside risk
0.82
0.80

+0.02

Omega ratioGain probability vs. loss probability

1.10

1.09

+0.01

Calmar ratioReturn relative to maximum drawdown

0.96

0.65

+0.31

Martin ratioReturn relative to average drawdown

1.83

1.63

+0.20

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RINF vs. TLT - Sharpe Ratio Comparison

The current RINF Sharpe Ratio is 0.56, which is comparable to the TLT Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of RINF 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.

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Sharpe Ratios by Period

RINFTLTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.56

0.51

+0.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.43

-0.40

+0.83

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.37

-0.11

+0.49

Sharpe Ratio (All Time)

Calculated using the full available price history

0.08

0.26

-0.17

Drawdowns

RINF vs. TLT - Drawdown Comparison

The maximum RINF drawdown since its inception was -43.51%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for RINF and TLT.

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Drawdown Indicators

RINFTLTDifference

Max Drawdown

Largest peak-to-trough decline

-43.51%

-48.35%

+4.84%

Max Drawdown (1Y)

Largest decline over 1 year

-2.60%

-7.58%

+4.98%

Max Drawdown (3Y)

Largest decline over 3 years

-9.62%

-19.18%

+9.56%

Max Drawdown (5Y)

Largest decline over 5 years

-13.58%

-43.70%

+30.12%

Max Drawdown (10Y)

Largest decline over 10 years

-29.18%

-48.35%

+19.17%

Current Drawdown

Current decline from peak

-0.66%

-40.44%

+39.78%

Average Drawdown

Average peak-to-trough decline

-16.45%

-13.82%

-2.63%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.37%

3.04%

-1.67%

Volatility

RINF vs. TLT - Volatility Comparison

The current volatility for ProShares Inflation Expectations ETF (RINF) is 1.19%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.76%. This indicates that RINF 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.

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Volatility by Period

RINFTLTDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.19%

2.76%

-1.57%

Volatility (6M)

Calculated over the trailing 6-month period

2.77%

6.50%

-3.73%

Volatility (1Y)

Calculated over the trailing 1-year period

4.49%

9.77%

-5.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.82%

15.87%

-3.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.57%

14.91%

-2.34%

RINF vs. TLT - Expense Ratio Comparison

RINF has a 0.30% expense ratio, which is higher than TLT's 0.15% expense ratio.

Dividends

RINF vs. TLT - Dividend Comparison

RINF's dividend yield for the trailing twelve months is around 3.70%, less than TLT's 4.59% yield.

PositionTTM20252024202320222021202020192018201720162015
RINF
ProShares Inflation Expectations ETF		3.70%3.89%4.68%5.07%1.15%2.76%0.82%1.90%2.47%2.99%1.09%1.83%
TLT
iShares 20+ Year Treasury Bond ETF		4.59%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

RINF and TLT have a correlation of -0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TLT has higher volatility (2.76%) compared to RINF (1.19%). In terms of maximum drawdown, RINF dropped -43.51% vs TLT's -48.35%.

On 10-year performance, RINF leads with 4.69% vs -1.66% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, RINF has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RINF has performed better with a 4.69% return vs -1.66%. 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 0.30% for RINF.

TLT has the higher dividend yield at 4.59%, compared with 3.70% for RINF.

RINF is categorized as Inflation-Protected Bonds, while TLT is Government Bonds. RINF tracks FTSE 30-Year TIPS (Treasury Rate-Hedged) Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.30% for RINF and 0.15% for TLT.

RINF currently has the higher Sharpe Ratio (0.56 vs 0.51), 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.

Portfolio Optimizer

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