TLT vs. VFINX
TLT (iShares 20+ Year Treasury Bond ETF) and VFINX (Vanguard 500 Index Fund Investor Shares) are both funds - TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while VFINX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, TLT returned -1.78%/yr vs 15.37%/yr for VFINX. At a correlation of -0.25, they often move in opposite directions. TLT charges 0.15%/yr vs 0.14%/yr for VFINX.
Performance
TLT vs. VFINX - Performance Comparison
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Returns By Period
In the year-to-date period, TLT achieves a 0.21% return, which is significantly lower than VFINX's 9.08% return. Over the past 10 years, TLT has underperformed VFINX with an annualized return of -1.78%, while VFINX has yielded a comparatively higher 15.37% annualized return.
TLT
- 1D
- -0.06%
- 1M
- 2.87%
- YTD
- 0.21%
- 6M
- 0.32%
- 1Y
- 3.82%
- 3Y*
- -1.84%
- 5Y*
- -6.36%
- 10Y*
- -1.78%
VFINX
- 1D
- 0.51%
- 1M
- 0.41%
- YTD
- 9.08%
- 6M
- 9.58%
- 1Y
- 25.66%
- 3Y*
- 20.83%
- 5Y*
- 13.30%
- 10Y*
- 15.37%
TLT vs. VFINX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 0.21% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
VFINX Vanguard 500 Index Fund Investor Shares | 9.08% | 17.71% | 24.84% | 26.12% | -18.24% | 28.53% | 18.20% | 31.33% | -4.55% | 21.66% |
Correlation
The correlation between TLT and VFINX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.25 |
The correlation between TLT and VFINX shifts across timeframes, from -0.25 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TLT vs. VFINX — Risk / Return Rank
TLT
VFINX
TLT vs. VFINX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and Vanguard 500 Index Fund Investor Shares (VFINX). 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 | VFINX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.36 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | 2.73 | -2.23 |
| Martin ratioReturn relative to average drawdown | 1.22 | 12.39 | -11.18 |
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Drawdowns
TLT vs. VFINX - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, smaller than the maximum VFINX drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for TLT and VFINX.
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Drawdown Indicators
| TLT | VFINX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -55.25% | +6.90% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -8.92% | +1.34% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | -18.76% | -0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | -24.59% | -19.11% |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | -33.83% | -14.52% |
Current DrawdownCurrent decline from peak | -40.15% | -2.30% | -37.85% |
Average DrawdownAverage peak-to-trough decline | -13.85% | -8.28% | -5.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 1.96% | +1.18% |
Volatility
TLT vs. VFINX - Volatility Comparison
The current volatility for iShares 20+ Year Treasury Bond ETF (TLT) is 2.84%, while Vanguard 500 Index Fund Investor Shares (VFINX) has a volatility of 4.42%. This indicates that TLT experiences smaller price fluctuations and is considered to be less risky than VFINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLT | VFINX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.84% | 4.42% | -1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 6.64% | 9.69% | -3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.57% | 12.37% | -2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.86% | 16.97% | -1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.91% | 18.09% | -3.18% |
TLT vs. VFINX - Expense Ratio Comparison
TLT has a 0.15% expense ratio, which is higher than VFINX's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TLT vs. VFINX - Dividend Comparison
TLT's dividend yield for the trailing twelve months is around 4.57%, more than VFINX's 0.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 4.57% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
VFINX Vanguard 500 Index Fund Investor Shares | 0.95% | 1.02% | 1.14% | 1.36% | 1.57% | 1.15% | 1.45% | 1.77% | 1.94% | 1.69% | 1.92% | 1.99% |
Frequently Asked Questions
TLT and VFINX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFINX has higher volatility (4.42%) compared to TLT (2.84%). In terms of maximum drawdown, TLT dropped -48.35% vs VFINX's -55.25%.
VFINX currently has the higher Sharpe Ratio (1.97 vs 0.40), 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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