TLT vs. BOND
Compare and contrast key facts about iShares 20+ Year Treasury Bond ETF (TLT) and PIMCO Active Bond ETF (BOND).
TLT and BOND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TLT is a passively managed fund by iShares that tracks the performance of the ICE U.S. Treasury 20+ Year Bond Index. It was launched on Jul 22, 2002. BOND is an actively managed fund by PIMCO. It was launched on Mar 1, 2012.
Performance
TLT vs. BOND - Performance Comparison
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TLT vs. BOND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 0.17% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
BOND PIMCO Active Bond ETF | -0.02% | 8.39% | 2.77% | 6.48% | -14.57% | -0.77% | 7.80% | 8.54% | 0.08% | 4.76% |
Returns By Period
In the year-to-date period, TLT achieves a 0.17% return, which is significantly higher than BOND's -0.02% return. Over the past 10 years, TLT has underperformed BOND with an annualized return of -1.38%, while BOND has yielded a comparatively higher 2.24% annualized return.
TLT
- 1D
- -0.10%
- 1M
- -4.23%
- YTD
- 0.17%
- 6M
- -0.87%
- 1Y
- -0.49%
- 3Y*
- -2.78%
- 5Y*
- -5.85%
- 10Y*
- -1.38%
BOND
- 1D
- 0.25%
- 1M
- -2.06%
- YTD
- -0.02%
- 6M
- 1.43%
- 1Y
- 5.07%
- 3Y*
- 4.76%
- 5Y*
- 0.62%
- 10Y*
- 2.24%
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TLT vs. BOND - Expense Ratio Comparison
TLT has a 0.15% expense ratio, which is lower than BOND's 0.54% expense ratio.
Return for Risk
TLT vs. BOND — Risk / Return Rank
TLT
BOND
TLT vs. BOND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and PIMCO Active Bond ETF (BOND). 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.
| TLT | BOND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.04 | 1.08 | -1.12 |
Sortino ratioReturn per unit of downside risk | 0.02 | 1.51 | -1.49 |
Omega ratioGain probability vs. loss probability | 1.00 | 1.20 | -0.19 |
Calmar ratioReturn relative to maximum drawdown | 0.05 | 1.58 | -1.53 |
Martin ratioReturn relative to average drawdown | 0.11 | 4.65 | -4.54 |
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
| TLT | BOND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.04 | 1.08 | -1.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | 0.11 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.09 | 0.44 | -0.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.63 | -0.37 |
Correlation
The correlation between TLT and BOND is 0.78, 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
TLT vs. BOND - Dividend Comparison
TLT's dividend yield for the trailing twelve months is around 4.49%, less than BOND's 5.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 4.49% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
BOND PIMCO Active Bond ETF | 5.18% | 5.11% | 5.02% | 4.06% | 3.44% | 2.58% | 2.66% | 3.38% | 3.18% | 2.87% | 2.85% | 4.14% |
Drawdowns
TLT vs. BOND - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, which is greater than BOND's maximum drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for TLT and BOND.
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Drawdown Indicators
| TLT | BOND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -19.71% | -28.64% |
Max Drawdown (1Y)Largest decline over 1 year | -9.23% | -3.29% | -5.94% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | -19.71% | -23.99% |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | -19.71% | -28.64% |
Current DrawdownCurrent decline from peak | -40.17% | -2.06% | -38.11% |
Average DrawdownAverage peak-to-trough decline | -13.62% | -3.53% | -10.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.38% | 1.12% | +3.26% |
Volatility
TLT vs. BOND - Volatility Comparison
iShares 20+ Year Treasury Bond ETF (TLT) has a higher volatility of 3.71% compared to PIMCO Active Bond ETF (BOND) at 1.82%. This indicates that TLT's price experiences larger fluctuations and is considered to be riskier than BOND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLT | BOND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.71% | 1.82% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 6.61% | 2.70% | +3.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.44% | 4.72% | +6.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.90% | 5.73% | +10.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.93% | 5.07% | +9.86% |