TLT vs. SOXX
TLT (iShares 20+ Year Treasury Bond ETF) and SOXX (iShares Semiconductor ETF) are both exchange-traded funds - TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. Both are passively managed. Over the past 10 years, TLT returned -2.23%/yr vs 32.54%/yr for SOXX. Their -0.22 correlation means they have often moved in opposite directions in the past. TLT charges 0.15%/yr vs 0.34%/yr for SOXX.
Performance
TLT vs. SOXX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TLT achieves a -2.22% return, which is significantly lower than SOXX's 76.42% return. Over the past 10 years, TLT has underperformed SOXX with an annualized return of -2.23%, while SOXX has yielded a comparatively higher 32.54% annualized return.
TLT
- 1D
- 0.22%
- 1M
- -2.48%
- 6M
- -1.90%
- YTD
- -2.22%
- 1Y
- -1.73%
- 3Y*
- -0.82%
- 5Y*
- -7.75%
- 10Y*
- -2.23%
- ALL TIME*
- 3.52%
SOXX
- 1D
- -2.12%
- 1M
- -8.74%
- 6M
- 60.81%
- YTD
- 76.42%
- 1Y
- 123.34%
- 3Y*
- 46.84%
- 5Y*
- 28.89%
- 10Y*
- 32.54%
- ALL TIME*
- 14.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.41B | $5.67B | $5.91B | |
| $2.70B | $2.15B | $2.23B |
TLT vs. SOXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | -2.22% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
SOXX iShares Semiconductor ETF | 76.42% | 40.74% | 12.92% | 67.12% | -35.09% | 44.09% | 52.72% | 62.42% | -6.49% | 39.79% |
Correlation
The correlation between TLT and SOXX is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.03 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.22 |
The correlation between TLT and SOXX shifts across timeframes, from -0.22 (all time) to 0.11 (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. SOXX — Risk / Return Rank
TLT
SOXX
TLT vs. SOXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and iShares Semiconductor ETF (SOXX). 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 | SOXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.96 | ||
| Sortino ratioReturn per unit of downside risk | -3.22 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.41 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 4.28 | -4.50 |
| Martin ratioReturn relative to average drawdown | -0.48 | 17.18 | -17.66 |
Loading charts...
Drawdowns
TLT vs. SOXX - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for TLT and SOXX.
Loading charts...
Drawdown Indicators
| TLT | SOXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -70.21% | +21.86% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -29.01% | +21.27% |
Max Drawdown (3Y)Largest decline over 3 years | -14.79% | -41.36% | +26.57% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | -45.75% | +2.05% |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | -45.75% | -2.60% |
Current DrawdownCurrent decline from peak | -41.60% | -18.98% | -22.62% |
Average DrawdownAverage peak-to-trough decline | -14.00% | -19.92% | +5.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.65% | 7.21% | -3.56% |
Volatility
TLT vs. SOXX - Volatility Comparison
The current volatility for iShares 20+ Year Treasury Bond ETF (TLT) is 2.51%, while iShares Semiconductor ETF (SOXX) has a volatility of 17.65%. This indicates that TLT experiences smaller price fluctuations and is considered to be less risky than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TLT | SOXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | 17.65% | -15.14% |
Volatility (6M)Calculated over the trailing 6-month period | 6.88% | 39.14% | -32.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.25% | 44.84% | -35.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.74% | 38.38% | -22.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.83% | 34.61% | -19.78% |
TLT vs. SOXX - Expense Ratio Comparison
TLT has a 0.15% expense ratio, which is lower than SOXX's 0.34% expense ratio.
Dividends
TLT vs. SOXX - Dividend Comparison
TLT's dividend yield for the trailing twelve months is around 4.70%, more than SOXX's 0.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SOXX iShares Semiconductor ETF | 0.28% | 0.57% | 0.67% | 0.78% | 1.26% | 0.64% | 0.81% | 1.23% | 1.37% | 0.90% | 1.08% | 1.29% |
TLT iShares 20+ Year Treasury Bond ETF | 4.70% | 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 SOXX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXX has higher volatility (17.65%) compared to TLT (2.51%). In terms of maximum drawdown, TLT dropped -48.35% vs SOXX's -70.21%.
On 10-year performance, SOXX leads with 32.54% vs -2.23% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SOXX has performed better with a 32.54% return vs -2.23%. 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 0.34% for SOXX.
TLT has the higher dividend yield at 4.70%, compared with 0.28% for SOXX.
TLT is categorized as Government Bonds, while SOXX is Semiconductors. TLT tracks ICE U.S. Treasury 20+ Year Bond Index, while SOXX tracks NYSE Semiconductor Index. Their fees differ too: 0.15% for TLT and 0.34% for SOXX.
SOXX currently has the higher Sharpe Ratio (2.77 vs -0.19), 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 SOXX
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