TLH vs. BTTRX

Last updated Apr 1, 2026

Compare and contrast key facts about iShares 10-20 Year Treasury Bond ETF (TLH) and American Century Zero Coupon 2025 Fund (BTTRX).

TLH is a passively managed fund by iShares that tracks the performance of the ICE U.S. Treasury 10-20 Year Bond Index. It was launched on Jan 11, 2007. BTTRX is managed by American Century. It was launched on Feb 14, 1996.

Performance

TLH vs. BTTRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 10-20 Year Treasury Bond ETF (TLH) and American Century Zero Coupon 2025 Fund (BTTRX). The values are adjusted to include any dividend payments, if applicable.

TLH vs. BTTRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TLH iShares 10-20 Year Treasury Bond ETF	-0.24%	6.47%	-4.21%	4.03%	-25.24%	-5.38%	13.78%	10.11%	0.37%	4.21%
BTTRX American Century Zero Coupon 2025 Fund	0.00%	2.79%	9.54%	7.82%	-7.63%	-2.65%	17.73%	11.43%	5.77%	1.22%

Returns By Period

TLH

• 1D: 0.09%
• 1M: -3.77%
• YTD: -0.24%
• 6M: -0.12%
• 1Y: 1.31%
• 3Y*: -0.20%
• 5Y*: -3.45%
• 10Y*: -0.67%

BTTRX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TLH vs. BTTRX - Expense Ratio Comparison

TLH has a 0.15% expense ratio, which is lower than BTTRX's 0.54% expense ratio.

BTTRX

American Century Zero Coupon 2025 Fund

TLH

iShares 10-20 Year Treasury Bond ETF

Return for Risk

TLH vs. BTTRX — Risk / Return Rank

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

TLH

TLH Risk / Return Rank: 16
TLH Sharpe Ratio Rank: 16
TLH Sortino Ratio Rank: 14
TLH Omega Ratio Rank: 14
TLH Calmar Ratio Rank: 18
TLH Martin Ratio Rank: 17

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.

TLH vs. BTTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 10-20 Year Treasury Bond ETF (TLH) and American Century Zero Coupon 2025 Fund (BTTRX). 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.

	TLH	BTTRX	Difference
Sharpe ratio Return per unit of total volatility	0.14	—	—
Sortino ratio Return per unit of downside risk	0.25	—	—
Omega ratio Gain probability vs. loss probability	1.03	—	—
Calmar ratio Return relative to maximum drawdown	0.25	—	—
Martin ratio Return relative to average drawdown	0.58	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TLH	BTTRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.14	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.06	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	—	—

Correlation

The correlation between TLH and BTTRX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TLH vs. BTTRX - Dividend Comparison

TLH's dividend yield for the trailing twelve months is around 4.33%, while BTTRX has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TLH iShares 10-20 Year Treasury Bond ETF	4.33%	4.17%	4.28%	3.83%	2.78%	1.50%	2.65%	2.31%	2.17%	1.83%	1.91%	2.13%
BTTRX American Century Zero Coupon 2025 Fund	0.00%	0.00%	4.96%	4.00%	3.47%	3.27%	7.69%	3.90%	5.25%	1.05%	3.42%	2.85%

Drawdowns

Drawdown Indicators

	TLH	BTTRX	Difference
Max Drawdown Largest peak-to-trough decline	-41.14%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-7.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.14%	—	—
Current Drawdown Current decline from peak	-29.63%	—	—
Average Drawdown Average peak-to-trough decline	-10.58%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	—	—

Volatility

Volatility by Period

	TLH	BTTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.29%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.70%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.19%	—	—