TLH vs. GBIL
TLH (iShares 10-20 Year Treasury Bond ETF) and GBIL (Goldman Sachs Access Treasury 0-1 Year ETF) are both Government Bonds funds - TLH tracks the ICE U.S. Treasury 10-20 Year Bond Index while GBIL tracks the FTSE US Treasury 0-1 Year Composite Select Index. Both are passively managed. Over the past 5 years, TLH returned -3.80%/yr vs 3.32%/yr for GBIL. At a 0.16 correlation, their price movements are largely independent. TLH charges 0.15%/yr vs 0.12%/yr for GBIL.
Performance
TLH vs. GBIL - Performance Comparison
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Returns By Period
In the year-to-date period, TLH achieves a -0.51% return, which is significantly lower than GBIL's 1.42% return.
TLH
- 1D
- -0.38%
- 1M
- 0.62%
- YTD
- -0.51%
- 6M
- -1.42%
- 1Y
- 5.33%
- 3Y*
- 0.59%
- 5Y*
- -3.80%
- 10Y*
- -0.83%
GBIL
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.42%
- 6M
- 1.73%
- 1Y
- 3.91%
- 3Y*
- 4.64%
- 5Y*
- 3.32%
- 10Y*
- —
TLH vs. GBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLH iShares 10-20 Year Treasury Bond ETF | -0.51% | 6.47% | -4.21% | 4.03% | -25.24% | -5.38% | 13.78% | 10.11% | 0.37% | 4.21% |
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 1.42% | 4.12% | 5.24% | 4.91% | 1.05% | -0.08% | 0.79% | 2.31% | 1.78% | 0.69% |
Correlation
The correlation between TLH and GBIL is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2016 | 0.16 |
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Return for Risk
TLH vs. GBIL — Risk / Return Rank
TLH
GBIL
TLH vs. GBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 10-20 Year Treasury Bond ETF (TLH) and Goldman Sachs Access Treasury 0-1 Year ETF (GBIL). 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 | GBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -16.22 | ||
| Sortino ratioReturn per unit of downside risk | -101.88 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 39.42 | -38.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 196.43 | -195.61 |
| Martin ratioReturn relative to average drawdown | 2.28 | 1,608.66 | -1,606.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TLH | GBIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 16.89 | -16.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | 5.78 | -6.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.07 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 4.87 | -4.60 |
Drawdowns
TLH vs. GBIL - Drawdown Comparison
The maximum TLH drawdown since its inception was -41.14%, which is greater than GBIL's maximum drawdown of -0.76%. Use the drawdown chart below to compare losses from any high point for TLH and GBIL.
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Drawdown Indicators
| TLH | GBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.14% | -0.76% | -40.38% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -0.02% | -6.48% |
Max Drawdown (3Y)Largest decline over 3 years | -15.35% | -0.76% | -14.59% |
Max Drawdown (5Y)Largest decline over 5 years | -35.41% | -0.76% | -34.65% |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | — | — |
Current DrawdownCurrent decline from peak | -29.82% | 0.00% | -29.82% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -0.04% | -10.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 0.00% | +2.35% |
Volatility
TLH vs. GBIL - Volatility Comparison
iShares 10-20 Year Treasury Bond ETF (TLH) has a higher volatility of 2.46% compared to Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) at 0.04%. This indicates that TLH's price experiences larger fluctuations and is considered to be riskier than GBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLH | GBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.46% | 0.04% | +2.42% |
Volatility (6M)Calculated over the trailing 6-month period | 5.49% | 0.14% | +5.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.01% | 0.23% | +7.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.70% | 0.58% | +12.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.19% | 0.47% | +10.72% |
TLH vs. GBIL - Expense Ratio Comparison
TLH has a 0.15% expense ratio, which is higher than GBIL's 0.12% 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
TLH vs. GBIL - Dividend Comparison
TLH's dividend yield for the trailing twelve months is around 4.48%, more than GBIL's 3.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 3.74% | 4.02% | 4.93% | 4.77% | 1.37% | 0.00% | 0.81% | 2.20% | 1.70% | 0.74% | 0.11% | 0.00% |
TLH iShares 10-20 Year Treasury Bond ETF | 4.48% | 4.17% | 4.28% | 3.83% | 2.78% | 1.50% | 2.65% | 2.31% | 2.17% | 1.83% | 1.91% | 2.13% |
Frequently Asked Questions
TLH and GBIL have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLH has higher volatility (2.46%) compared to GBIL (0.04%). In terms of maximum drawdown, TLH dropped -41.14% vs GBIL's -0.76%.
On 5-year performance, GBIL leads with 3.32% vs -3.80% for TLH. On fees, GBIL is cheaper at 0.12% per year. On volatility, GBIL has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GBIL has performed better with a 3.32% return vs -3.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GBIL is cheaper with a 0.12% expense ratio, compared with 0.15% for TLH.
TLH has the higher dividend yield at 4.48%, compared with 3.74% for GBIL.
TLH tracks ICE U.S. Treasury 10-20 Year Bond Index, while GBIL tracks FTSE US Treasury 0-1 Year Composite Select Index. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.15% for TLH and 0.12% for GBIL.
GBIL currently has the higher Sharpe Ratio (16.89 vs 0.67), 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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