TLH vs. S600.L
TLH (iShares 10-20 Year Treasury Bond ETF) and S600.L (Invesco STOXX Europe 600 UCITS ETF) are both exchange-traded funds - TLH is a Government Bonds fund tracking the ICE U.S. Treasury 10-20 Year Bond Index, while S600.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, TLH returned -0.87%/yr vs 9.30%/yr for S600.L. At a correlation of -0.04, they often move in opposite directions. TLH charges 0.15%/yr vs 0.19%/yr for S600.L.
Performance
TLH vs. S600.L - Performance Comparison
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Different Trading Currencies
TLH is traded in USD, while S600.L is traded in GBp. To make them comparable, the S600.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, TLH achieves a -0.95% return, which is significantly lower than S600.L's 6.36% return. Over the past 10 years, TLH has underperformed S600.L with an annualized return of -0.87%, while S600.L has yielded a comparatively higher 9.30% annualized return.
TLH
- 1D
- -0.62%
- 1M
- -1.02%
- YTD
- -0.95%
- 6M
- -1.04%
- 1Y
- 3.54%
- 3Y*
- 0.36%
- 5Y*
- -3.89%
- 10Y*
- -0.87%
S600.L
- 1D
- 0.68%
- 1M
- 2.40%
- YTD
- 6.36%
- 6M
- 9.62%
- 1Y
- 18.03%
- 3Y*
- 16.81%
- 5Y*
- 8.55%
- 10Y*
- 9.30%
TLH vs. S600.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLH iShares 10-20 Year Treasury Bond ETF | -0.95% | 6.47% | -4.21% | 4.03% | -25.24% | -5.38% | 13.78% | 10.11% | 0.37% | 4.21% |
S600.L Invesco STOXX Europe 600 UCITS ETF | 6.37% | 35.70% | 1.97% | 19.11% | -15.11% | 15.38% | 6.87% | 24.98% | -14.86% | 26.20% |
Correlation
The correlation between TLH and S600.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2014 | -0.04 |
The correlation between TLH and S600.L shifts across timeframes, from -0.04 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TLH vs. S600.L — Risk / Return Rank
TLH
S600.L
TLH vs. S600.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 10-20 Year Treasury Bond ETF (TLH) and Invesco STOXX Europe 600 UCITS ETF (S600.L). 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 | S600.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.23 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 1.56 | -1.01 |
| Martin ratioReturn relative to average drawdown | 1.50 | 5.57 | -4.08 |
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 | S600.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | 1.24 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.31 | 0.49 | -0.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | 0.53 | -0.60 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.37 | -0.10 |
Drawdowns
TLH vs. S600.L - Drawdown Comparison
The maximum TLH drawdown since its inception was -41.14%, which is greater than S600.L's maximum drawdown of -35.87%. Use the drawdown chart below to compare losses from any high point for TLH and S600.L.
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Drawdown Indicators
| TLH | S600.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.14% | -35.87% | -5.27% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -11.54% | +5.04% |
Max Drawdown (3Y)Largest decline over 3 years | -15.35% | -14.41% | -0.94% |
Max Drawdown (5Y)Largest decline over 5 years | -35.41% | -32.53% | -2.88% |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | -35.87% | -5.27% |
Current DrawdownCurrent decline from peak | -30.13% | -1.64% | -28.49% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -8.09% | -2.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 3.23% | -0.86% |
Volatility
TLH vs. S600.L - Volatility Comparison
The current volatility for iShares 10-20 Year Treasury Bond ETF (TLH) is 2.37%, while Invesco STOXX Europe 600 UCITS ETF (S600.L) has a volatility of 4.94%. This indicates that TLH experiences smaller price fluctuations and is considered to be less risky than S600.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLH | S600.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 4.94% | -2.57% |
Volatility (6M)Calculated over the trailing 6-month period | 5.52% | 11.92% | -6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.92% | 14.51% | -6.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.69% | 17.48% | -4.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.19% | 17.67% | -6.48% |
TLH vs. S600.L - Expense Ratio Comparison
TLH has a 0.15% expense ratio, which is lower than S600.L's 0.19% expense ratio. Despite the difference, 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. S600.L - Dividend Comparison
TLH's dividend yield for the trailing twelve months is around 4.50%, while S600.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
S600.L Invesco STOXX Europe 600 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLH iShares 10-20 Year Treasury Bond ETF | 4.50% | 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 S600.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TLH is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLH is cheaper with a 0.15% expense ratio, compared with 0.19% for S600.L.
TLH is categorized as Government Bonds, while S600.L is Europe Equities. TLH tracks ICE U.S. Treasury 10-20 Year Bond Index, while S600.L tracks MSCI Europe NR EUR. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for TLH and 0.19% for S600.L.
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