SOXX vs. TLT
SOXX (iShares Semiconductor ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - SOXX is a Semiconductors fund tracking the NYSE Semiconductor 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, SOXX returned 32.83%/yr vs -2.25%/yr for TLT. Their -0.22 correlation means they have often moved in opposite directions in the past. SOXX charges 0.34%/yr vs 0.15%/yr for TLT.
Performance
SOXX vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, SOXX achieves a 80.24% return, which is significantly higher than TLT's -2.43% return. Over the past 10 years, SOXX has outperformed TLT with an annualized return of 32.83%, while TLT has yielded a comparatively lower -2.25% annualized return.
SOXX
- 1D
- 6.80%
- 1M
- -4.26%
- 6M
- 57.04%
- YTD
- 80.24%
- 1Y
- 126.60%
- 3Y*
- 47.89%
- 5Y*
- 29.31%
- 10Y*
- 32.83%
- ALL TIME*
- 14.15%
TLT
- 1D
- 0.77%
- 1M
- -2.76%
- 6M
- -2.36%
- YTD
- -2.43%
- 1Y
- -1.64%
- 3Y*
- -0.90%
- 5Y*
- -8.10%
- 10Y*
- -2.25%
- ALL TIME*
- 3.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.23B | $5.65B | $5.90B | |
| $2.59B | $2.11B | $2.22B |
SOXX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXX iShares Semiconductor ETF | 80.24% | 40.74% | 12.92% | 67.12% | -35.09% | 44.09% | 52.72% | 62.42% | -6.49% | 39.79% |
TLT iShares 20+ Year Treasury Bond ETF | -2.43% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between SOXX and TLT is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.03 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.22 |
The correlation between SOXX and TLT shifts across timeframes, from -0.22 (all time) to 0.11 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SOXX vs. TLT — Risk / Return Rank
SOXX
TLT
SOXX vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Semiconductor ETF (SOXX) 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.
| SOXX | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.02 | ||
| Sortino ratioReturn per unit of downside risk | +3.26 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 0.98 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 4.39 | -0.21 | +4.60 |
| Martin ratioReturn relative to average drawdown | 17.88 | -0.45 | +18.33 |
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Drawdowns
SOXX vs. TLT - Drawdown Comparison
The maximum SOXX drawdown since its inception was -70.21%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for SOXX and TLT.
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Drawdown Indicators
| SOXX | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.21% | -48.35% | -21.86% |
Max Drawdown (1Y)Largest decline over 1 year | -29.01% | -7.74% | -21.27% |
Max Drawdown (3Y)Largest decline over 3 years | -41.36% | -14.79% | -26.57% |
Max Drawdown (5Y)Largest decline over 5 years | -45.75% | -43.70% | -2.05% |
Max Drawdown (10Y)Largest decline over 10 years | -45.75% | -48.35% | +2.60% |
Current DrawdownCurrent decline from peak | -17.22% | -41.73% | +24.51% |
Average DrawdownAverage peak-to-trough decline | -19.92% | -14.00% | -5.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.11% | 3.63% | +3.48% |
Volatility
SOXX vs. TLT - Volatility Comparison
iShares Semiconductor ETF (SOXX) has a higher volatility of 18.28% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.67%. This indicates that SOXX'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
| SOXX | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.28% | 2.67% | +15.61% |
Volatility (6M)Calculated over the trailing 6-month period | 39.14% | 6.88% | +32.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.78% | 9.25% | +35.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.37% | 15.75% | +22.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.61% | 14.83% | +19.78% |
SOXX vs. TLT - Expense Ratio Comparison
SOXX has a 0.34% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
SOXX vs. TLT - Dividend Comparison
SOXX's dividend yield for the trailing twelve months is around 0.27%, less than TLT's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SOXX iShares Semiconductor ETF | 0.27% | 0.57% | 0.67% | 0.78% | 1.26% | 0.64% | 0.81% | 1.23% | 1.37% | 0.90% | 1.08% | 1.29% |
TLT iShares 20+ Year Treasury Bond ETF | 4.71% | 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
SOXX and TLT have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXX has higher volatility (18.28%) compared to TLT (2.67%). In terms of maximum drawdown, SOXX dropped -70.21% vs TLT's -48.35%.
On 10-year performance, SOXX leads with 32.83% vs -2.25% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SOXX has performed better with a 32.83% return vs -2.25%. 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 0.34% for SOXX.
TLT has the higher dividend yield at 4.71%, compared with 0.27% for SOXX.
SOXX is categorized as Semiconductors, while TLT is Government Bonds. SOXX tracks NYSE Semiconductor Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.34% for SOXX and 0.15% for TLT.
SOXX currently has the higher Sharpe Ratio (2.84 vs -0.18), 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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