TEXN vs. TLT

Last updated Jun 4, 2026

TEXN (iShares Texas Equity ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - TEXN is a Large Cap Blend Equities fund tracking the Russell Texas Equity Index, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. At a 0.05 correlation, their price movements are largely independent. TEXN charges 0.20%/yr vs 0.15%/yr for TLT.

Performance

TEXN vs. TLT - Performance Comparison

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

Returns By Period

In the year-to-date period, TEXN achieves a 25.94% return, which is significantly higher than TLT's -0.27% return.

TEXN

• 1D: -0.24%
• 1M: 5.35%
• YTD: 25.94%
• 6M: 24.41%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

TEXN vs. TLT - Yearly Performance Comparison

	2026 (YTD)	2025
TEXN iShares Texas Equity ETF	25.94%	8.16%
TLT iShares 20+ Year Treasury Bond ETF	-0.27%	2.34%

Correlation

The correlation between TEXN and TLT is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.05

Return for Risk

TEXN vs. TLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TLT

TLT Risk / Return Rank: 16
TLT Sharpe Ratio Rank: 16
TLT Sortino Ratio Rank: 15
TLT Omega Ratio Rank: 15
TLT Calmar Ratio Rank: 17
TLT Martin Ratio Rank: 16

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.

TEXN vs. TLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Texas Equity ETF (TEXN) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TEXN	TLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.51	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.40	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.75	0.26	+2.49

Drawdowns

TEXN vs. TLT - Drawdown Comparison

The maximum TEXN drawdown since its inception was -6.34%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for TEXN and TLT.

Drawdown Indicators

	TEXN	TLT	Difference
Max Drawdown Largest peak-to-trough decline	-6.34%	-48.35%	+42.01%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.58%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-48.35%	—
Current Drawdown Current decline from peak	-0.24%	-40.44%	+40.20%
Average Drawdown Average peak-to-trough decline	-1.12%	-13.82%	+12.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.04%	—

Volatility

Volatility by Period

	TEXN	TLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.76%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.19%	9.77%	+4.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.19%	15.87%	-1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.19%	14.91%	-0.72%

TEXN vs. TLT - Expense Ratio Comparison

TEXN has a 0.20% 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

TEXN vs. TLT - Dividend Comparison

TEXN's dividend yield for the trailing twelve months is around 1.01%, less than TLT's 4.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TEXN iShares Texas Equity ETF	1.01%	0.86%	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	4.59%	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

Can I hold both TEXN and TLT in my portfolio?

TEXN and TLT have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TEXN or TLT?

On fees, TLT is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TEXN or TLT?

TLT is cheaper with a 0.15% expense ratio, compared with 0.20% for TEXN.

Which ETF pays a higher dividend yield, TEXN or TLT?

TLT has the higher dividend yield at 4.59%, compared with 1.01% for TEXN.

What is the main difference between TEXN and TLT?

TEXN is categorized as Large Cap Blend Equities, while TLT is Government Bonds. TEXN tracks Russell Texas Equity Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.20% for TEXN and 0.15% for TLT.