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TLT vs. GLEN.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TLT vs. GLEN.L

Last updated Jun 13, 2026

TLT (iShares 20+ Year Treasury Bond ETF) is Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while GLEN.L (Glencore plc) is a stock. Over the past 10 years, TLT returned -1.75%/yr vs 20.32%/yr for GLEN.L. At a correlation of -0.17, they often move in opposite directions.

Performance

TLT vs. GLEN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 20+ Year Treasury Bond ETF (TLT) and Glencore plc (GLEN.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

TLT is traded in USD, while GLEN.L is traded in GBp. To make them comparable, the GLEN.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, TLT achieves a 0.27% return, which is significantly lower than GLEN.L's 45.81% return. Over the past 10 years, TLT has underperformed GLEN.L with an annualized return of -1.75%, while GLEN.L has yielded a comparatively higher 20.32% annualized 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%

GLEN.L

1D
2.39%
1M
-1.48%
YTD
45.81%
6M
58.94%
1Y
106.32%
3Y*
15.24%
5Y*
16.73%
10Y*
20.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TLT vs. GLEN.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TLT
iShares 20+ Year Treasury Bond ETF		0.27%4.25%-8.05%2.77%-31.23%-4.60%18.15%14.12%-1.61%9.18%
GLEN.L
Glencore plc		45.81%27.27%-24.64%-1.15%40.33%65.47%2.03%-11.04%-26.31%56.59%

Correlation

The correlation between TLT and GLEN.L is 0.07, 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

0.07

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

-0.13

Correlation (All Time)
Calculated using the full available price history since May 19, 2011

-0.17

The correlation between TLT and GLEN.L shifts across timeframes, from -0.17 (all time) to 0.09 (3 years), 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.

iShares 20+ Year Treasury Bond ETF

Glencore plc

Often compared with TLT:
TLT vs. SPYTLT vs. IEFTLT vs. TMFTLT vs. BNDTLT vs. VGLTTLT vs. TLTWTLT vs. EDV
Often compared with GLEN.L:
GLEN.L vs. RIOGLEN.L vs. VALEGLEN.L vs. BA.LGLEN.L vs. KOGLEN.L vs. GSKGLEN.L vs. WMAT.ASGLEN.L vs. NWG

Return for Risk

TLT vs. GLEN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TLT
TLT Risk / Return Rank: 1414
Overall Rank
TLT Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
TLT Sortino Ratio Rank: 1313
Sortino Ratio Rank
TLT Omega Ratio Rank: 1313
Omega Ratio Rank
TLT Calmar Ratio Rank: 1414
Calmar Ratio Rank
TLT Martin Ratio Rank: 1414
Martin Ratio Rank
GLEN.L
GLEN.L Risk / Return Rank: 9696
Overall Rank
GLEN.L Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
GLEN.L Sortino Ratio Rank: 9696
Sortino Ratio Rank
GLEN.L Omega Ratio Rank: 9595
Omega Ratio Rank
GLEN.L Calmar Ratio Rank: 9696
Calmar Ratio Rank
GLEN.L Martin Ratio Rank: 9797
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TLT vs. GLEN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and Glencore plc (GLEN.L). 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.

TLTGLEN.LDifference
Sharpe ratioReturn per unit of total volatility
0.30
3.22

-2.91

Sortino ratioReturn per unit of downside risk
0.50
3.90

-3.40

Omega ratioGain probability vs. loss probability

1.06

1.49

-0.44

Calmar ratioReturn relative to maximum drawdown

0.38

7.07

-6.69

Martin ratioReturn relative to average drawdown

0.92

21.94

-21.02

TLT vs. GLEN.L - Sharpe Ratio Comparison

The current TLT Sharpe Ratio is 0.30, which is lower than the GLEN.L Sharpe Ratio of 3.22. The chart below compares the historical Sharpe Ratios of TLT and GLEN.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

TLT vs. GLEN.L - Drawdown Comparison

The maximum TLT drawdown since its inception was -48.35%, smaller than the maximum GLEN.L drawdown of -88.55%. Use the drawdown chart below to compare losses from any high point for TLT and GLEN.L.

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Drawdown Indicators

TLTGLEN.LDifference

Max Drawdown

Largest peak-to-trough decline

-48.35%

-88.55%

+40.20%

Max Drawdown (1Y)

Largest decline over 1 year

-7.58%

-14.96%

+7.38%

Max Drawdown (3Y)

Largest decline over 3 years

-19.18%

-53.53%

+34.35%

Max Drawdown (5Y)

Largest decline over 5 years

-43.70%

-54.01%

+10.31%

Max Drawdown (10Y)

Largest decline over 10 years

-48.35%

-75.39%

+27.04%

Current Drawdown

Current decline from peak

-40.12%

-4.75%

-35.37%

Average Drawdown

Average peak-to-trough decline

-13.84%

-40.97%

+27.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.14%

4.83%

-1.69%

Volatility

TLT vs. GLEN.L - Volatility Comparison

The current volatility for iShares 20+ Year Treasury Bond ETF (TLT) is 2.83%, while Glencore plc (GLEN.L) has a volatility of 11.37%. This indicates that TLT experiences smaller price fluctuations and is considered to be less risky than GLEN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TLTGLEN.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.83%

11.37%

-8.54%

Volatility (6M)

Calculated over the trailing 6-month period

6.64%

24.07%

-17.43%

Volatility (1Y)

Calculated over the trailing 1-year period

9.68%

32.88%

-23.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.85%

35.19%

-19.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.91%

38.23%

-23.32%

Dividends

TLT vs. GLEN.L - Dividend Comparison

TLT's dividend yield for the trailing twelve months is around 4.56%, more than GLEN.L's 1.70% yield.

PositionTTM20252024202320222021202020192018201720162015
GLEN.L
Glencore plc		1.70%1.84%2.87%8.72%5.58%3.08%0.00%6.70%5.16%1.37%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 GLEN.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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