TLT vs. INDA
TLT (iShares 20+ Year Treasury Bond ETF) and INDA (iShares MSCI India ETF) are both exchange-traded funds - TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while INDA is a Asia Pacific Equities fund tracking the MSCI India Index. Both are passively managed. Over the past 10 years, TLT returned -1.75%/yr vs 7.09%/yr for INDA. At a correlation of -0.10, they often move in opposite directions. TLT charges 0.15%/yr vs 0.69%/yr for INDA.
Performance
TLT vs. INDA - Performance Comparison
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Returns By Period
In the year-to-date period, TLT achieves a 0.27% return, which is significantly higher than INDA's -10.58% return. Over the past 10 years, TLT has underperformed INDA with an annualized return of -1.75%, while INDA has yielded a comparatively higher 7.09% 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%
INDA
- 1D
- 1.13%
- 1M
- -0.06%
- YTD
- -10.58%
- 6M
- -9.05%
- 1Y
- -10.57%
- 3Y*
- 4.51%
- 5Y*
- 2.79%
- 10Y*
- 7.09%
TLT vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
INDA iShares MSCI India ETF | -10.58% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
Correlation
The correlation between TLT and INDA is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | -0.10 |
The correlation between TLT and INDA shifts across timeframes, from -0.10 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TLT vs. INDA — Risk / Return Rank
TLT
INDA
TLT vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and iShares MSCI India ETF (INDA). 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 | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.88 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | -0.63 | +1.02 |
| Martin ratioReturn relative to average drawdown | 0.92 | -1.46 | +2.38 |
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Drawdowns
TLT vs. INDA - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, which is greater than INDA's maximum drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for TLT and INDA.
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Drawdown Indicators
| TLT | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -45.07% | -3.28% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -18.69% | +11.11% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | -22.72% | +3.54% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | -22.72% | -20.98% |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | -45.07% | -3.28% |
Current DrawdownCurrent decline from peak | -40.12% | -17.77% | -22.35% |
Average DrawdownAverage peak-to-trough decline | -13.84% | -9.59% | -4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 8.09% | -4.95% |
Volatility
TLT vs. INDA - Volatility Comparison
The current volatility for iShares 20+ Year Treasury Bond ETF (TLT) is 2.83%, while iShares MSCI India ETF (INDA) has a volatility of 4.16%. This indicates that TLT experiences smaller price fluctuations and is considered to be less risky than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLT | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.83% | 4.16% | -1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 6.64% | 12.77% | -6.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.68% | 14.79% | -5.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.85% | 15.40% | +0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.91% | 21.11% | -6.20% |
TLT vs. INDA - Expense Ratio Comparison
TLT has a 0.15% expense ratio, which is lower than INDA's 0.69% expense ratio.
Dividends
TLT vs. INDA - Dividend Comparison
TLT's dividend yield for the trailing twelve months is around 4.56%, while INDA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | 0.00% | 0.00% | 0.76% | 0.16% | 0.00% | 6.44% | 0.27% | 0.99% | 0.94% | 1.09% | 0.90% | 1.19% |
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 INDA have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDA has higher volatility (4.16%) compared to TLT (2.83%). In terms of maximum drawdown, TLT dropped -48.35% vs INDA's -45.07%.
On 10-year performance, INDA leads with 7.09% vs -1.75% 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 10-year period, INDA has performed better with a 7.09% return vs -1.75%. 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 0.69% for INDA.
TLT has the higher dividend yield at 4.56%, compared with 0.00% for INDA.
TLT is categorized as Government Bonds, while INDA is Asia Pacific Equities. TLT tracks ICE U.S. Treasury 20+ Year Bond Index, while INDA tracks MSCI India Index. Their fees differ too: 0.15% for TLT and 0.69% for INDA.
TLT currently has the higher Sharpe Ratio (0.30 vs -0.80), 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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