SPY vs. TLT
Compare and contrast key facts about SPDR S&P 500 ETF (SPY) and iShares 20+ Year Treasury Bond ETF (TLT).
SPY and TLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. TLT is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 20+ Year Treasury Bond Index. It was launched on Jul 26, 2002. Both SPY and TLT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPY or TLT.
Correlation
The correlation between SPY and TLT is -0.27. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
SPY vs. TLT - Performance Comparison
Key characteristics
SPY:
0.54
TLT:
0.27
SPY:
0.90
TLT:
0.46
SPY:
1.13
TLT:
1.05
SPY:
0.58
TLT:
0.09
SPY:
2.32
TLT:
0.50
SPY:
4.69%
TLT:
7.61%
SPY:
20.01%
TLT:
14.43%
SPY:
-55.19%
TLT:
-48.35%
SPY:
-8.61%
TLT:
-41.21%
Returns By Period
In the year-to-date period, SPY achieves a -4.42% return, which is significantly lower than TLT's 2.61% return. Over the past 10 years, SPY has outperformed TLT with an annualized return of 12.16%, while TLT has yielded a comparatively lower -0.72% annualized return.
SPY
-4.42%
-0.45%
-1.16%
13.04%
16.32%
12.16%
TLT
2.61%
-3.06%
-2.03%
3.96%
-9.66%
-0.72%
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SPY vs. TLT - Expense Ratio Comparison
SPY has a 0.09% 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%.
Risk-Adjusted Performance
SPY vs. TLT — Risk-Adjusted Performance Rank
SPY
TLT
SPY vs. TLT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 ETF (SPY) 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.
Dividends
SPY vs. TLT - Dividend Comparison
SPY's dividend yield for the trailing twelve months is around 1.28%, less than TLT's 3.90% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY SPDR S&P 500 ETF | 1.28% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
TLT iShares 20+ Year Treasury Bond ETF | 3.90% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% | 2.67% |
Drawdowns
SPY vs. TLT - Drawdown Comparison
The maximum SPY drawdown since its inception was -55.19%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for SPY and TLT. For additional features, visit the drawdowns tool.
Volatility
SPY vs. TLT - Volatility Comparison
SPDR S&P 500 ETF (SPY) has a higher volatility of 15.00% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 5.85%. This indicates that SPY'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.