TLT vs. AVDV
TLT (iShares 20+ Year Treasury Bond ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. TLT is passively managed, while AVDV is actively managed. Over the past 5 years, TLT returned -6.53%/yr vs 13.63%/yr for AVDV. At a correlation of -0.03, they often move in opposite directions. TLT charges 0.15%/yr vs 0.36%/yr for AVDV.
Performance
TLT vs. AVDV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TLT achieves a 0.27% return, which is significantly lower than AVDV's 14.99% return.
TLT
- 1D
- -0.24%
- 1M
- 1.40%
- YTD
- 0.27%
- 6M
- 0.45%
- 1Y
- 3.88%
- 3Y*
- -1.38%
- 5Y*
- -6.53%
- 10Y*
- -1.75%
AVDV
- 1D
- 0.89%
- 1M
- -1.99%
- YTD
- 14.99%
- 6M
- 17.18%
- 1Y
- 41.91%
- 3Y*
- 26.72%
- 5Y*
- 13.63%
- 10Y*
- —
TLT vs. AVDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 0.27% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | -3.58% |
AVDV Avantis International Small Cap Value ETF | 14.99% | 49.37% | 8.67% | 16.85% | -11.47% | 15.80% | 5.01% | 11.78% |
Correlation
The correlation between TLT and AVDV is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | -0.03 |
The correlation between TLT and AVDV shifts across timeframes, from -0.03 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TLT vs. AVDV — Risk / Return Rank
TLT
AVDV
TLT vs. AVDV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and Avantis International Small Cap Value ETF (AVDV). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TLT | AVDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.86 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.46 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 3.12 | -2.74 |
| Martin ratioReturn relative to average drawdown | 0.92 | 12.44 | -11.52 |
Loading charts...
Drawdowns
TLT vs. AVDV - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, which is greater than AVDV's maximum drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for TLT and AVDV.
Loading charts...
Drawdown Indicators
| TLT | AVDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -43.01% | -5.34% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -13.19% | +5.61% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | -14.17% | -5.01% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | -28.08% | -15.62% |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | — | — |
Current DrawdownCurrent decline from peak | -40.12% | -2.24% | -37.88% |
Average DrawdownAverage peak-to-trough decline | -13.84% | -6.76% | -7.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 3.30% | -0.16% |
Volatility
TLT vs. AVDV - Volatility Comparison
The current volatility for iShares 20+ Year Treasury Bond ETF (TLT) is 2.83%, while Avantis International Small Cap Value ETF (AVDV) has a volatility of 6.26%. This indicates that TLT experiences smaller price fluctuations and is considered to be less risky than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TLT | AVDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.83% | 6.26% | -3.43% |
Volatility (6M)Calculated over the trailing 6-month period | 6.64% | 13.88% | -7.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.68% | 16.25% | -6.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.85% | 17.41% | -1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.91% | 19.77% | -4.86% |
TLT vs. AVDV - Expense Ratio Comparison
TLT has a 0.15% expense ratio, which is lower than AVDV's 0.36% expense ratio.
Dividends
TLT vs. AVDV - Dividend Comparison
TLT's dividend yield for the trailing twelve months is around 4.56%, more than AVDV's 4.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVDV Avantis International Small Cap Value ETF | 4.11% | 3.05% | 4.31% | 3.29% | 3.17% | 2.39% | 1.67% | 0.36% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.56% | 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
TLT and AVDV have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVDV has higher volatility (6.26%) compared to TLT (2.83%). In terms of maximum drawdown, TLT dropped -48.35% vs AVDV's -43.01%.
On 5-year performance, AVDV leads with 13.63% vs -6.53% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AVDV has performed better with a 13.63% return vs -6.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.36% for AVDV.
TLT has the higher dividend yield at 4.56%, compared with 4.11% for AVDV.
TLT is categorized as Government Bonds, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.15% for TLT and 0.36% for AVDV.
AVDV currently has the higher Sharpe Ratio (2.53 vs 0.30), 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.
Find the right allocation for TLT and AVDV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer