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TLT vs. V
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TLT vs. V

Last updated Jun 14, 2026

TLT (iShares 20+ Year Treasury Bond ETF) is Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while V (Visa Inc.) is a stock. Over the past 10 years, TLT returned -1.75%/yr vs 15.98%/yr for V. At a correlation of -0.18, they often move in opposite directions.

Performance

TLT vs. V - Performance Comparison

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

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Returns By Period

In the year-to-date period, TLT achieves a 0.27% return, which is significantly higher than V's -7.69% return. Over the past 10 years, TLT has underperformed V with an annualized return of -1.75%, while V has yielded a comparatively higher 15.98% annualized return.

TLT

1D
-0.24%
1M
2.93%
YTD
0.27%
6M
0.45%
1Y
3.88%
3Y*
-1.38%
5Y*
-6.53%
10Y*
-1.75%

V

1D
1.05%
1M
-1.03%
YTD
-7.69%
6M
-6.93%
1Y
-7.91%
3Y*
13.87%
5Y*
7.33%
10Y*
15.98%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TLT vs. V - 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%
V
Visa Inc.		-7.69%11.76%22.32%26.31%-3.40%-0.31%17.12%43.33%16.49%47.18%

Correlation

The correlation between TLT and V is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.11

Correlation (3Y)
Calculated over the trailing 3-year period

0.14

Correlation (5Y)
Calculated over the trailing 5-year period

0.06

Correlation (10Y)
Calculated over the trailing 10-year period

-0.05

Correlation (All Time)
Calculated using the full available price history since Mar 19, 2008

-0.18

The correlation between TLT and V shifts across timeframes, from -0.18 (all time) to 0.14 (3 years), reflecting how their relationship changes across market environments.

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iShares 20+ Year Treasury Bond ETF

Visa Inc.

Often compared with TLT:
TLT vs. SPYTLT vs. IEFTLT vs. TMFTLT vs. BNDTLT vs. VGLTTLT vs. TLTWTLT vs. EDV
Often compared with V:
V vs. MAV vs. SPYV vs. AXPV vs. HDV vs. VOOV vs. NVDAV vs. TSM

Return for Risk

TLT vs. V — 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
V
V Risk / Return Rank: 1515
Overall Rank
V Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
V Sortino Ratio Rank: 1717
Sortino Ratio Rank
V Omega Ratio Rank: 1818
Omega Ratio Rank
V Calmar Ratio Rank: 1515
Calmar Ratio Rank
V Martin Ratio Rank: 55
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. V - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and Visa Inc. (V). 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.

TLTVDifference
Sharpe ratioReturn per unit of total volatility
0.30
-0.56

+0.86

Sortino ratioReturn per unit of downside risk
0.50
-0.68

+1.19

Omega ratioGain probability vs. loss probability

1.06

0.92

+0.14

Calmar ratioReturn relative to maximum drawdown

0.38

-0.73

+1.11

Martin ratioReturn relative to average drawdown

0.92

-1.57

+2.49

TLT vs. V - Sharpe Ratio Comparison

The current TLT Sharpe Ratio is 0.30, which is higher than the V Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of TLT and V, 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. V - Drawdown Comparison

The maximum TLT drawdown since its inception was -48.35%, smaller than the maximum V drawdown of -51.90%. Use the drawdown chart below to compare losses from any high point for TLT and V.

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Drawdown Indicators

TLTVDifference

Max Drawdown

Largest peak-to-trough decline

-48.35%

-51.90%

+3.55%

Max Drawdown (1Y)

Largest decline over 1 year

-7.58%

-17.18%

+9.60%

Max Drawdown (3Y)

Largest decline over 3 years

-19.18%

-20.38%

+1.20%

Max Drawdown (5Y)

Largest decline over 5 years

-43.70%

-28.60%

-15.10%

Max Drawdown (10Y)

Largest decline over 10 years

-48.35%

-36.36%

-11.99%

Current Drawdown

Current decline from peak

-40.12%

-12.96%

-27.16%

Average Drawdown

Average peak-to-trough decline

-13.84%

-8.26%

-5.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.14%

10.73%

-7.59%

Volatility

TLT vs. V - Volatility Comparison

The current volatility for iShares 20+ Year Treasury Bond ETF (TLT) is 2.83%, while Visa Inc. (V) has a volatility of 5.57%. This indicates that TLT experiences smaller price fluctuations and is considered to be less risky than V based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TLTVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.83%

5.57%

-2.74%

Volatility (6M)

Calculated over the trailing 6-month period

6.64%

17.57%

-10.93%

Volatility (1Y)

Calculated over the trailing 1-year period

9.68%

22.35%

-12.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.85%

22.82%

-6.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.91%

24.45%

-9.54%

Dividends

TLT vs. V - Dividend Comparison

TLT's dividend yield for the trailing twelve months is around 4.56%, more than V's 0.81% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
V
Visa Inc.		0.81%0.70%0.68%0.72%0.76%0.62%0.56%0.56%0.67%0.61%0.75%0.64%

Frequently Asked Questions

TLT and V 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.

V has higher volatility (5.57%) compared to TLT (2.83%). In terms of maximum drawdown, TLT dropped -48.35% vs V's -51.90%.

TLT currently has the higher Sharpe Ratio (0.30 vs -0.56), 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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