TEK vs. TLT
TEK (iShares Technology Opportunities Active ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - TEK is a Technology Equities fund actively managed by iShares, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. TEK is actively managed, while TLT is passively managed. Over the past year, TEK returned 30.40% vs -2.45% for TLT. Their 0.11 correlation means their historical movements had little consistent relationship. TEK charges 0.75%/yr vs 0.15%/yr for TLT.
Performance
TEK vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, TEK achieves a 21.44% return, which is significantly higher than TLT's -3.49% return.
TEK
- 1D
- 1.29%
- 1M
- -7.12%
- 6M
- 19.04%
- YTD
- 21.44%
- 1Y
- 30.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 24.70%
TLT
- 1D
- -0.66%
- 1M
- -3.81%
- 6M
- -3.46%
- YTD
- -3.49%
- 1Y
- -2.45%
- 3Y*
- -1.80%
- 5Y*
- -8.18%
- 10Y*
- -2.38%
- ALL TIME*
- 3.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $171.97K | $226.82K | $208.52K | |
| $2.33B | $2.02B | $2.19B |
TEK vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TEK iShares Technology Opportunities Active ETF | 21.44% | 18.63% | 2.63% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 4.25% | -4.29% |
Correlation
The correlation between TEK and TLT is 0.15, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024 | 0.11 |
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Return for Risk
TEK vs. TLT — Risk / Return Rank
TEK
TLT
TEK vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Technology Opportunities Active ETF (TEK) 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.
| TEK | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.99 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | -0.14 | +1.36 |
| Martin ratioReturn relative to average drawdown | 3.53 | -0.30 | +3.83 |
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Drawdowns
TEK vs. TLT - Drawdown Comparison
The maximum TEK drawdown since its inception was -28.24%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for TEK and TLT.
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Drawdown Indicators
| TEK | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.24% | -48.35% | +20.11% |
Max Drawdown (1Y)Largest decline over 1 year | -22.55% | -7.74% | -14.81% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.79% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -15.72% | -42.36% | +26.64% |
Average DrawdownAverage peak-to-trough decline | -6.17% | -13.99% | +7.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.82% | 3.57% | +4.25% |
Volatility
TEK vs. TLT - Volatility Comparison
iShares Technology Opportunities Active ETF (TEK) has a higher volatility of 14.74% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.46%. This indicates that TEK'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
| TEK | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.74% | 2.46% | +12.28% |
Volatility (6M)Calculated over the trailing 6-month period | 29.28% | 6.85% | +22.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.18% | 9.32% | +23.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.24% | 15.74% | +16.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.24% | 14.83% | +17.41% |
TEK vs. TLT - Expense Ratio Comparison
TEK has a 0.75% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
TEK vs. TLT - Dividend Comparison
TEK's dividend yield for the trailing twelve months is around 1.31%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TEK iShares Technology Opportunities Active ETF | 1.31% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.34% | 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
TEK and TLT have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TEK has higher volatility (14.74%) compared to TLT (2.46%). In terms of maximum drawdown, TEK dropped -28.24% vs TLT's -48.35%.
On 1-year performance, TEK leads with 30.40% vs -2.45% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TEK has performed better with a 30.40% return vs -2.45%. 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 0.75% for TEK.
TLT has the higher dividend yield at 4.34%, compared with 1.31% for TEK.
TEK is categorized as Technology Equities, while TLT is Government Bonds. Their fees differ too: 0.75% for TEK and 0.15% for TLT.
TEK currently has the higher Sharpe Ratio (0.83 vs -0.11), 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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