TLH vs. TIP
Compare and contrast key facts about iShares 10-20 Year Treasury Bond ETF (TLH) and iShares TIPS Bond ETF (TIP).
TLH and TIP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TLH is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 10-20 Year Treasury Bond Index. It was launched on Jan 11, 2007. TIP is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). It was launched on Dec 4, 2003. Both TLH and TIP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TLH or TIP.
Key characteristics
| TLH | TIP | |
|---|---|---|
| YTD Return | -6.95% | -1.60% |
| 1Y Return | -9.24% | -1.37% |
| 3Y Return (Ann) | -8.68% | -1.71% |
| 5Y Return (Ann) | -3.46% | 1.98% |
| 10Y Return (Ann) | -0.17% | 1.69% |
| Sharpe Ratio | -0.55 | -0.10 |
| Daily Std Dev | 13.66% | 5.95% |
| Max Drawdown | -41.14% | -14.56% |
| Current Drawdown | -35.64% | -10.85% |
Correlation
The correlation between TLH and TIP is 0.75, 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.
Performance
TLH vs. TIP - Performance Comparison
In the year-to-date period, TLH achieves a -6.95% return, which is significantly lower than TIP's -1.60% return. Over the past 10 years, TLH has underperformed TIP with an annualized return of -0.17%, while TIP has yielded a comparatively higher 1.69% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TLH vs. TIP - Expense Ratio Comparison
TLH has a 0.15% expense ratio, which is lower than TIP'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%.
Risk-Adjusted Performance
TLH vs. TIP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 10-20 Year Treasury Bond ETF (TLH) and iShares TIPS Bond ETF (TIP). 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.
Dividends
TLH vs. TIP - Dividend Comparison
TLH's dividend yield for the trailing twelve months is around 4.24%, more than TIP's 2.85% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLH iShares 10-20 Year Treasury Bond ETF | 4.24% | 3.83% | 2.78% | 1.50% | 2.65% | 2.31% | 2.17% | 1.83% | 1.91% | 2.13% | 2.12% | 2.41% |
TIP iShares TIPS Bond ETF | 2.85% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% | 1.67% | 1.15% |
Drawdowns
TLH vs. TIP - Drawdown Comparison
The maximum TLH drawdown since its inception was -41.14%, which is greater than TIP's maximum drawdown of -14.56%. Use the drawdown chart below to compare losses from any high point for TLH and TIP. For additional features, visit the drawdowns tool.
Volatility
TLH vs. TIP - Volatility Comparison
iShares 10-20 Year Treasury Bond ETF (TLH) has a higher volatility of 3.56% compared to iShares TIPS Bond ETF (TIP) at 1.57%. This indicates that TLH's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.