TLT vs. PG
TLT (iShares 20+ Year Treasury Bond ETF) is Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while PG (The Procter & Gamble Company) is a stock. Over the past 10 years, TLT returned -2.20%/yr vs 8.53%/yr for PG. At a correlation of -0.08, they often move in opposite directions.
Performance
TLT vs. PG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TLT achieves a -1.57% return, which is significantly lower than PG's 5.59% return. Over the past 10 years, TLT has underperformed PG with an annualized return of -2.20%, while PG has yielded a comparatively higher 8.53% annualized return.
TLT
- 1D
- -0.75%
- 1M
- -2.94%
- 6M
- -2.29%
- YTD
- -1.57%
- 1Y
- 2.90%
- 3Y*
- -2.24%
- 5Y*
- -7.64%
- 10Y*
- -2.20%
- ALL TIME*
- 3.56%
PG
- 1D
- -0.57%
- 1M
- -0.83%
- 6M
- 4.70%
- YTD
- 5.59%
- 1Y
- -1.76%
- 3Y*
- 1.56%
- 5Y*
- 4.00%
- 10Y*
- 8.53%
- ALL TIME*
- 10.13%
TLT vs. PG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | -1.57% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
PG The Procter & Gamble Company | 5.59% | -12.26% | 17.25% | -0.86% | -5.05% | 20.52% | 14.15% | 39.70% | 3.57% | 12.69% |
Correlation
The correlation between TLT and PG is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.08 |
The correlation between TLT and PG shifts across timeframes, from -0.08 (all time) to 0.26 (1 year), 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.
Return for Risk
TLT vs. PG — Risk / Return Rank
TLT
PG
TLT vs. PG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and The Procter & Gamble Company (PG). 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 | PG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.00 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | -0.11 | +0.50 |
| Martin ratioReturn relative to average drawdown | 0.87 | -0.20 | +1.07 |
Loading charts...
Drawdowns
TLT vs. PG - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, smaller than the maximum PG drawdown of -54.25%. Use the drawdown chart below to compare losses from any high point for TLT and PG.
Loading charts...
Drawdown Indicators
| TLT | PG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -54.25% | +5.90% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -15.52% | +7.94% |
Max Drawdown (3Y)Largest decline over 3 years | -17.91% | -21.15% | +3.24% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | -23.77% | -19.93% |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | -23.77% | -24.58% |
Current DrawdownCurrent decline from peak | -41.21% | -13.57% | -27.64% |
Average DrawdownAverage peak-to-trough decline | -13.95% | -12.17% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 8.87% | -5.52% |
Volatility
TLT vs. PG - Volatility Comparison
The current volatility for iShares 20+ Year Treasury Bond ETF (TLT) is 2.63%, while The Procter & Gamble Company (PG) has a volatility of 7.35%. This indicates that TLT experiences smaller price fluctuations and is considered to be less risky than PG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TLT | PG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.63% | 7.35% | -4.72% |
Volatility (6M)Calculated over the trailing 6-month period | 6.82% | 15.86% | -9.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.41% | 19.69% | -10.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.75% | 18.08% | -2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.84% | 19.17% | -4.33% |
Dividends
TLT vs. PG - Dividend Comparison
TLT's dividend yield for the trailing twelve months is around 4.65%, more than PG's 2.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PG The Procter & Gamble Company | 2.15% | 2.91% | 2.36% | 2.55% | 2.38% | 2.08% | 2.24% | 2.37% | 3.09% | 2.98% | 3.18% | 3.31% |
TLT iShares 20+ Year Treasury Bond ETF | 4.65% | 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 PG have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PG has higher volatility (7.35%) compared to TLT (2.63%). In terms of maximum drawdown, TLT dropped -48.35% vs PG's -54.25%.
TLT currently has the higher Sharpe Ratio (0.31 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.
Find the right allocation for TLT and PG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer