TLT vs. BRK-B
TLT (iShares 20+ Year Treasury Bond ETF) is Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, TLT returned -1.85%/yr vs 13.14%/yr for BRK-B. At a correlation of -0.21, they often move in opposite directions.
Performance
TLT vs. BRK-B - Performance Comparison
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Returns By Period
In the year-to-date period, TLT achieves a -1.08% return, which is significantly higher than BRK-B's -3.11% return. Over the past 10 years, TLT has underperformed BRK-B with an annualized return of -1.85%, while BRK-B has yielded a comparatively higher 13.14% annualized return.
TLT
- 1D
- -0.52%
- 1M
- -1.31%
- YTD
- -1.08%
- 6M
- -1.51%
- 1Y
- 3.67%
- 3Y*
- -2.05%
- 5Y*
- -6.70%
- 10Y*
- -1.85%
BRK-B
- 1D
- -0.23%
- 1M
- 2.32%
- YTD
- -3.11%
- 6M
- -2.06%
- 1Y
- -1.32%
- 3Y*
- 13.25%
- 5Y*
- 11.03%
- 10Y*
- 13.14%
TLT vs. BRK-B - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | -1.08% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
BRK-B Berkshire Hathaway Inc. | -3.11% | 10.89% | 27.09% | 15.46% | 3.31% | 28.95% | 2.37% | 10.93% | 3.01% | 21.62% |
Correlation
The correlation between TLT and BRK-B is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2002 | -0.21 |
The correlation between TLT and BRK-B shifts across timeframes, from -0.21 (all time) to 0.09 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TLT vs. BRK-B — Risk / Return Rank
TLT
BRK-B
TLT vs. BRK-B - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and Berkshire Hathaway Inc. (BRK-B). 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 | BRK-B | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.00 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.49 | -0.14 | +0.63 |
| Martin ratioReturn relative to average drawdown | 1.19 | -0.30 | +1.49 |
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 | BRK-B | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.38 | -0.09 | +0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | 0.65 | -1.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.12 | 0.68 | -0.80 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.48 | -0.23 |
Drawdowns
TLT vs. BRK-B - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for TLT and BRK-B.
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Drawdown Indicators
| TLT | BRK-B | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -53.86% | +5.51% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -9.42% | +1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | -14.95% | -4.23% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | -26.58% | -17.12% |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | -29.57% | -18.78% |
Current DrawdownCurrent decline from peak | -40.92% | -9.78% | -31.14% |
Average DrawdownAverage peak-to-trough decline | -13.83% | -11.07% | -2.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 4.49% | -1.41% |
Volatility
TLT vs. BRK-B - Volatility Comparison
The current volatility for iShares 20+ Year Treasury Bond ETF (TLT) is 2.65%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.98%. This indicates that TLT experiences smaller price fluctuations and is considered to be less risky than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLT | BRK-B | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 3.98% | -1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 6.51% | 10.87% | -4.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.60% | 14.38% | -4.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.85% | 17.13% | -1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.91% | 19.44% | -4.53% |
Dividends
TLT vs. BRK-B - Dividend Comparison
TLT's dividend yield for the trailing twelve months is around 4.63%, while BRK-B has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRK-B Berkshire Hathaway Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.63% | 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 BRK-B have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRK-B has higher volatility (3.98%) compared to TLT (2.65%). In terms of maximum drawdown, TLT dropped -48.35% vs BRK-B's -53.86%.
TLT currently has the higher Sharpe Ratio (0.38 vs -0.09), 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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