TLT vs. BTC-USD
TLT (iShares 20+ Year Treasury Bond ETF) is Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, TLT returned -1.85%/yr vs 59.68%/yr for BTC-USD. At a correlation of -0.00, they often move in opposite directions.
Performance
TLT vs. BTC-USD - 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 BTC-USD's -28.54% return. Over the past 10 years, TLT has underperformed BTC-USD with an annualized return of -1.85%, while BTC-USD has yielded a comparatively higher 59.68% 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%
BTC-USD
- 1D
- -1.22%
- 1M
- -22.47%
- YTD
- -28.54%
- 6M
- -31.02%
- 1Y
- -40.89%
- 3Y*
- 33.16%
- 5Y*
- 10.82%
- 10Y*
- 59.68%
TLT vs. BTC-USD - 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% |
BTC-USD Bitcoin | -28.54% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between TLT and BTC-USD is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2012 | -0.00 |
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Return for Risk
TLT vs. BTC-USD — Risk / Return Rank
TLT
BTC-USD
TLT vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and Bitcoin (BTC-USD). 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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.34 | ||
| Sortino ratioReturn per unit of downside risk | +1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.86 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.49 | -0.80 | +1.28 |
| Martin ratioReturn relative to average drawdown | 1.19 | -1.42 | +2.61 |
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 | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.38 | -0.95 | +1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | 0.20 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.12 | 0.87 | -1.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 1.13 | -0.88 |
Drawdowns
TLT vs. BTC-USD - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for TLT and BTC-USD.
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Drawdown Indicators
| TLT | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -85.30% | +36.95% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -51.21% | +43.63% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | -51.21% | +32.03% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | -76.67% | +32.97% |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | -83.80% | +35.45% |
Current DrawdownCurrent decline from peak | -40.92% | -49.86% | +8.94% |
Average DrawdownAverage peak-to-trough decline | -13.83% | -42.32% | +28.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 34.46% | -31.38% |
Volatility
TLT vs. BTC-USD - Volatility Comparison
The current volatility for iShares 20+ Year Treasury Bond ETF (TLT) is 2.65%, while Bitcoin (BTC-USD) has a volatility of 11.59%. This indicates that TLT experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLT | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 11.59% | -8.94% |
Volatility (6M)Calculated over the trailing 6-month period | 6.51% | 34.53% | -28.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.60% | 35.67% | -26.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.85% | 44.95% | -29.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.91% | 56.71% | -41.80% |
Frequently Asked Questions
TLT and BTC-USD have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (11.59%) compared to TLT (2.65%). In terms of maximum drawdown, TLT dropped -48.35% vs BTC-USD's -85.30%.
TLT currently has the higher Sharpe Ratio (0.38 vs -0.95), 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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