PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
TLT vs. VGIT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TLT vs. VGIT

Last updated Jun 5, 2026

TLT (iShares 20+ Year Treasury Bond ETF) and VGIT (Vanguard Intermediate-Term Treasury ETF) are both Government Bonds funds - TLT tracks the ICE U.S. Treasury 20+ Year Bond Index while VGIT tracks the Bloomberg U.S. Treasury 3-10 Year Index. Both are passively managed. Over the past 10 years, TLT returned -1.56%/yr vs 1.26%/yr for VGIT. Their correlation of 0.83 suggests significant overlap in exposure. TLT charges 0.15%/yr vs 0.03%/yr for VGIT.

Performance

TLT vs. VGIT - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, TLT achieves a -0.05% return, which is significantly higher than VGIT's -0.32% return. Over the past 10 years, TLT has underperformed VGIT with an annualized return of -1.56%, while VGIT has yielded a comparatively higher 1.26% annualized return.

TLT

1D
0.22%
1M
0.48%
YTD
-0.05%
6M
-1.27%
1Y
3.48%
3Y*
-1.67%
5Y*
-6.27%
10Y*
-1.56%

VGIT

1D
0.14%
1M
-0.08%
YTD
-0.32%
6M
-0.27%
1Y
3.19%
3Y*
3.44%
5Y*
0.07%
10Y*
1.26%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TLT vs. VGIT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TLT
iShares 20+ Year Treasury Bond ETF		-0.05%4.25%-8.05%2.77%-31.23%-4.60%18.15%14.12%-1.61%9.18%
VGIT
Vanguard Intermediate-Term Treasury ETF		-0.32%7.34%1.39%4.28%-10.53%-2.64%7.71%6.19%1.35%1.70%

Correlation

The correlation between TLT and VGIT is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.83

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

0.86

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

0.85

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

0.85

Correlation (All Time)
Calculated using the full available price history since Nov 24, 2009

0.84

The correlation between TLT and VGIT has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares 20+ Year Treasury Bond ETF

Vanguard Intermediate-Term Treasury ETF

Often compared with TLT:
TLT vs. SPYTLT vs. IEFTLT vs. TMFTLT vs. BNDTLT vs. VGLTTLT vs. TLTWTLT vs. EDV
Often compared with VGIT:
VGIT vs. BNDVGIT vs. IEFVGIT vs. VGLTVGIT vs. VTIPVGIT vs. GOVTVGIT vs. SCHRVGIT vs. VGsh

Return for Risk

TLT vs. VGIT — 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: 1515
Sharpe Ratio Rank
TLT Sortino Ratio Rank: 1414
Sortino Ratio Rank
TLT Omega Ratio Rank: 1313
Omega Ratio Rank
TLT Calmar Ratio Rank: 1515
Calmar Ratio Rank
TLT Martin Ratio Rank: 1515
Martin Ratio Rank
VGIT
VGIT Risk / Return Rank: 2626
Overall Rank
VGIT Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
VGIT Sortino Ratio Rank: 2727
Sortino Ratio Rank
VGIT Omega Ratio Rank: 2525
Omega Ratio Rank
VGIT Calmar Ratio Rank: 2525
Calmar Ratio Rank
VGIT Martin Ratio Rank: 2525
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. VGIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and Vanguard Intermediate-Term Treasury ETF (VGIT). 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.

TLTVGITDifference
Sharpe ratioReturn per unit of total volatility
0.36
0.96

-0.59

Sortino ratioReturn per unit of downside risk
0.59
1.44

-0.85

Omega ratioGain probability vs. loss probability

1.07

1.17

-0.10

Calmar ratioReturn relative to maximum drawdown

0.46

1.13

-0.67

Martin ratioReturn relative to average drawdown

1.14

3.36

-2.22

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TLT vs. VGIT - Sharpe Ratio Comparison

The current TLT Sharpe Ratio is 0.36, which is lower than the VGIT Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of TLT and VGIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

TLTVGITDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.36

0.96

-0.59

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.40

0.01

-0.41

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.11

0.28

-0.39

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

0.50

-0.24

Drawdowns

TLT vs. VGIT - Drawdown Comparison

The maximum TLT drawdown since its inception was -48.35%, which is greater than VGIT's maximum drawdown of -16.05%. Use the drawdown chart below to compare losses from any high point for TLT and VGIT.

Loading charts...

Drawdown Indicators

TLTVGITDifference

Max Drawdown

Largest peak-to-trough decline

-48.35%

-16.05%

-32.30%

Max Drawdown (1Y)

Largest decline over 1 year

-7.58%

-2.83%

-4.75%

Max Drawdown (3Y)

Largest decline over 3 years

-19.18%

-4.34%

-14.84%

Max Drawdown (5Y)

Largest decline over 5 years

-43.70%

-15.02%

-28.68%

Max Drawdown (10Y)

Largest decline over 10 years

-48.35%

-16.05%

-32.30%

Current Drawdown

Current decline from peak

-40.31%

-2.26%

-38.05%

Average Drawdown

Average peak-to-trough decline

-13.82%

-3.52%

-10.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.05%

0.95%

+2.10%

Volatility

TLT vs. VGIT - Volatility Comparison

iShares 20+ Year Treasury Bond ETF (TLT) has a higher volatility of 2.71% compared to Vanguard Intermediate-Term Treasury ETF (VGIT) at 1.06%. This indicates that TLT's price experiences larger fluctuations and is considered to be riskier than VGIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

TLTVGITDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.71%

1.06%

+1.65%

Volatility (6M)

Calculated over the trailing 6-month period

6.50%

2.33%

+4.17%

Volatility (1Y)

Calculated over the trailing 1-year period

9.77%

3.38%

+6.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.86%

5.38%

+10.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.90%

4.50%

+10.40%

TLT vs. VGIT - Expense Ratio Comparison

TLT has a 0.15% expense ratio, which is higher than VGIT's 0.03% 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. VGIT - Dividend Comparison

TLT's dividend yield for the trailing twelve months is around 4.58%, more than VGIT's 3.86% yield.

PositionTTM20252024202320222021202020192018201720162015
TLT
iShares 20+ Year Treasury Bond ETF		4.58%4.43%4.30%3.38%2.67%1.50%1.50%2.27%2.63%2.43%2.60%2.61%
VGIT
Vanguard Intermediate-Term Treasury ETF		3.86%3.79%3.67%2.73%1.74%1.69%2.23%2.24%2.05%1.67%1.69%1.69%

Frequently Asked Questions

TLT and VGIT have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TLT has higher volatility (2.71%) compared to VGIT (1.06%). In terms of maximum drawdown, TLT dropped -48.35% vs VGIT's -16.05%.

On 10-year performance, VGIT leads with 1.26% vs -1.56% for TLT. On fees, VGIT is cheaper at 0.03% per year. On volatility, VGIT has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VGIT has performed better with a 1.26% return vs -1.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VGIT is cheaper with a 0.03% expense ratio, compared with 0.15% for TLT.

TLT has the higher dividend yield at 4.58%, compared with 3.86% for VGIT.

TLT tracks ICE U.S. Treasury 20+ Year Bond Index, while VGIT tracks Bloomberg U.S. Treasury 3-10 Year Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for TLT and 0.03% for VGIT.

VGIT currently has the higher Sharpe Ratio (0.96 vs 0.36), 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.

Portfolio Optimizer

Find the right allocation for TLT and VGIT

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