PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
SYSB vs. TLT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SYSB vs. TLT

Last updated Jun 5, 2026

SYSB (iShares Systematic Bond ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - SYSB is a Intermediate Core-Plus Bond fund tracking the BlackRock Universal Systematic Bond 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, SYSB returned 2.31%/yr vs -1.56%/yr for TLT. A 0.52 correlation means they provide meaningful diversification when combined. SYSB charges 0.25%/yr vs 0.15%/yr for TLT.

Performance

SYSB vs. TLT - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, SYSB achieves a 0.24% return, which is significantly higher than TLT's -0.05% return. Over the past 10 years, SYSB has outperformed TLT with an annualized return of 2.31%, while TLT has yielded a comparatively lower -1.56% annualized return.

SYSB

1D
0.18%
1M
0.20%
YTD
0.24%
6M
0.32%
1Y
5.37%
3Y*
6.74%
5Y*
1.57%
10Y*
2.31%

TLT

1D
0.22%
1M
0.48%
YTD
-0.05%
6M
-1.27%
1Y
3.48%
3Y*
-1.67%
5Y*
-6.27%
10Y*
-1.56%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SYSB vs. TLT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SYSB
iShares Systematic Bond ETF		0.24%8.32%6.04%8.22%-13.57%-1.00%3.31%10.03%-0.93%3.89%
TLT
iShares 20+ Year Treasury Bond ETF		-0.05%4.25%-8.05%2.77%-31.23%-4.60%18.15%14.12%-1.61%9.18%

Correlation

The correlation between SYSB and TLT is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.80

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

0.71

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

0.71

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

0.56

Correlation (All Time)
Calculated using the full available price history since Feb 27, 2015

0.52

Over the past year, SYSB and TLT have become more correlated (0.80) than their long-term average of 0.52, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Systematic Bond ETF

iShares 20+ Year Treasury Bond ETF

Often compared with SYSB:
SYSB vs. FBNDSYSB vs. JHCPSYSB vs. NCPBSYSB vs. CFITSYSB vs. APCBSYSB vs. VPLSSYSB vs. MAMB
Often compared with TLT:
TLT vs. SPYTLT vs. IEFTLT vs. TMFTLT vs. BNDTLT vs. VGLTTLT vs. TLTWTLT vs. EDV

Return for Risk

SYSB vs. TLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SYSB
SYSB Risk / Return Rank: 3939
Overall Rank
SYSB Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
SYSB Sortino Ratio Rank: 4141
Sortino Ratio Rank
SYSB Omega Ratio Rank: 4040
Omega Ratio Rank
SYSB Calmar Ratio Rank: 3737
Calmar Ratio Rank
SYSB Martin Ratio Rank: 3636
Martin Ratio Rank
TLT
TLT Risk / Return Rank: 1414
Overall Rank
TLT Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
TLT Sortino Ratio Rank: 1414
Sortino Ratio Rank
TLT Omega Ratio Rank: 1313
Omega Ratio Rank
TLT Calmar Ratio Rank: 1515
Calmar Ratio Rank
TLT Martin Ratio Rank: 1515
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.

SYSB vs. TLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Bond ETF (SYSB) 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.

SYSBTLTDifference
Sharpe ratioReturn per unit of total volatility
1.42
0.36

+1.06

Sortino ratioReturn per unit of downside risk
2.03
0.59

+1.44

Omega ratioGain probability vs. loss probability

1.26

1.07

+0.19

Calmar ratioReturn relative to maximum drawdown

1.80

0.46

+1.34

Martin ratioReturn relative to average drawdown

5.50

1.14

+4.36

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

SYSB vs. TLT - Sharpe Ratio Comparison

The current SYSB Sharpe Ratio is 1.42, which is higher than the TLT Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of SYSB 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.

Loading charts...

Sharpe Ratios by Period

SYSBTLTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.42

0.36

+1.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.28

-0.40

+0.68

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.47

-0.11

+0.57

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.26

+0.25

Drawdowns

SYSB vs. TLT - Drawdown Comparison

The maximum SYSB drawdown since its inception was -18.47%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for SYSB and TLT.

Loading charts...

Drawdown Indicators

SYSBTLTDifference

Max Drawdown

Largest peak-to-trough decline

-18.47%

-48.35%

+29.88%

Max Drawdown (1Y)

Largest decline over 1 year

-2.99%

-7.58%

+4.59%

Max Drawdown (3Y)

Largest decline over 3 years

-3.08%

-19.18%

+16.10%

Max Drawdown (5Y)

Largest decline over 5 years

-18.47%

-43.70%

+25.23%

Max Drawdown (10Y)

Largest decline over 10 years

-18.47%

-48.35%

+29.88%

Current Drawdown

Current decline from peak

-1.61%

-40.31%

+38.70%

Average Drawdown

Average peak-to-trough decline

-3.27%

-13.82%

+10.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.98%

3.05%

-2.07%

Volatility

SYSB vs. TLT - Volatility Comparison

The current volatility for iShares Systematic Bond ETF (SYSB) is 1.40%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.71%. This indicates that SYSB 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.

Loading charts...

Volatility by Period

SYSBTLTDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.40%

2.71%

-1.31%

Volatility (6M)

Calculated over the trailing 6-month period

3.11%

6.50%

-3.39%

Volatility (1Y)

Calculated over the trailing 1-year period

3.80%

9.77%

-5.97%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.63%

15.86%

-10.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.95%

14.90%

-9.95%

SYSB vs. TLT - Expense Ratio Comparison

SYSB has a 0.25% expense ratio, which is higher than TLT's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SYSB vs. TLT - Dividend Comparison

SYSB's dividend yield for the trailing twelve months is around 4.61%, which matches TLT's 4.58% yield.

PositionTTM20252024202320222021202020192018201720162015
SYSB
iShares Systematic Bond ETF		4.61%4.78%5.04%4.44%3.27%1.92%2.57%3.27%3.61%2.74%2.92%2.26%
TLT
iShares 20+ Year Treasury Bond ETF		4.58%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

SYSB and TLT have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TLT has higher volatility (2.71%) compared to SYSB (1.40%). In terms of maximum drawdown, SYSB dropped -18.47% vs TLT's -48.35%.

On 10-year performance, SYSB leads with 2.31% vs -1.56% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, SYSB has been the lower-risk option at 1.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SYSB has performed better with a 2.31% return vs -1.56%. 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 0.25% for SYSB.

SYSB has the higher dividend yield at 4.61%, compared with 4.58% for TLT.

SYSB is categorized as Intermediate Core-Plus Bond, while TLT is Government Bonds. SYSB tracks BlackRock Universal Systematic Bond Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.25% for SYSB and 0.15% for TLT.

SYSB currently has the higher Sharpe Ratio (1.42 vs 0.36), 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

Find the right allocation for SYSB and TLT

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer