TLT vs. VTI
TLT (iShares 20+ Year Treasury Bond ETF) and VTI (Vanguard Total Stock Market ETF) are both exchange-traded funds - TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while VTI is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index. Both are passively managed. Over the past 10 years, TLT returned -2.33%/yr vs 14.66%/yr for VTI. Their -0.25 correlation means they have often moved in opposite directions in the past. TLT charges 0.15%/yr vs 0.03%/yr for VTI.
Performance
TLT vs. VTI - Performance Comparison
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Returns By Period
In the year-to-date period, TLT achieves a -3.18% return, which is significantly lower than VTI's 12.18% return. Over the past 10 years, TLT has underperformed VTI with an annualized return of -2.33%, while VTI has yielded a comparatively higher 14.66% annualized return.
TLT
- 1D
- 0.33%
- 1M
- -3.49%
- 6M
- -2.86%
- YTD
- -3.18%
- 1Y
- -2.12%
- 3Y*
- -1.15%
- 5Y*
- -8.33%
- 10Y*
- -2.33%
- ALL TIME*
- 3.48%
VTI
- 1D
- 1.53%
- 1M
- 1.38%
- 6M
- 9.81%
- YTD
- 12.18%
- 1Y
- 23.70%
- 3Y*
- 20.38%
- 5Y*
- 12.06%
- 10Y*
- 14.66%
- ALL TIME*
- 9.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.39B | $2.06B | $2.20B | |
| $1.08B | $1.16B | $1.24B |
TLT vs. VTI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | -3.18% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
VTI Vanguard Total Stock Market ETF | 12.18% | 17.10% | 23.81% | 26.05% | -19.52% | 25.68% | 21.08% | 30.67% | -5.23% | 21.21% |
Correlation
The correlation between TLT and VTI is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.25 |
The correlation between TLT and VTI shifts across timeframes, from -0.25 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TLT vs. VTI — Risk / Return Rank
TLT
VTI
TLT vs. VTI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and Vanguard Total Stock Market ETF (VTI). 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 | VTI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -2.78 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.32 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 2.67 | -2.95 |
| Martin ratioReturn relative to average drawdown | -0.59 | 11.50 | -12.10 |
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Drawdowns
TLT vs. VTI - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, smaller than the maximum VTI drawdown of -55.45%. Use the drawdown chart below to compare losses from any high point for TLT and VTI.
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Drawdown Indicators
| TLT | VTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -55.45% | +7.10% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -8.92% | +1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -14.79% | -19.30% | +4.51% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | -25.36% | -18.34% |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | -35.00% | -13.35% |
Current DrawdownCurrent decline from peak | -42.17% | 0.00% | -42.17% |
Average DrawdownAverage peak-to-trough decline | -14.00% | -7.98% | -6.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.60% | 2.07% | +1.53% |
Volatility
TLT vs. VTI - Volatility Comparison
The current volatility for iShares 20+ Year Treasury Bond ETF (TLT) is 2.51%, while Vanguard Total Stock Market ETF (VTI) has a volatility of 3.78%. This indicates that TLT experiences smaller price fluctuations and is considered to be less risky than VTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLT | VTI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | 3.78% | -1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 6.84% | 10.33% | -3.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.24% | 13.08% | -3.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.74% | 17.53% | -1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.83% | 18.31% | -3.48% |
TLT vs. VTI - Expense Ratio Comparison
TLT has a 0.15% expense ratio, which is higher than VTI'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. VTI - Dividend Comparison
TLT's dividend yield for the trailing twelve months is around 4.75%, more than VTI's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 4.75% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
VTI Vanguard Total Stock Market ETF | 1.04% | 1.12% | 1.27% | 1.44% | 1.66% | 1.21% | 1.42% | 1.78% | 2.04% | 1.71% | 1.92% | 1.98% |
Frequently Asked Questions
TLT and VTI 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.
VTI has higher volatility (3.78%) compared to TLT (2.51%). In terms of maximum drawdown, TLT dropped -48.35% vs VTI's -55.45%.
On 10-year performance, VTI leads with 14.66% vs -2.33% for TLT. On fees, VTI is cheaper at 0.03% 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, VTI has performed better with a 14.66% return vs -2.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTI is cheaper with a 0.03% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.75%, compared with 1.04% for VTI.
TLT is categorized as Government Bonds, while VTI is Large Cap Blend Equities. TLT tracks ICE U.S. Treasury 20+ Year Bond Index, while VTI tracks CRSP US Total Market Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for TLT and 0.03% for VTI.
VTI currently has the higher Sharpe Ratio (1.82 vs -0.23), 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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