TLT vs. VUSTX
Compare and contrast key facts about iShares 20+ Year Treasury Bond ETF (TLT) and Vanguard Long-Term Treasury Fund Investor Shares (VUSTX).
TLT is a passively managed fund by iShares that tracks the performance of the ICE U.S. Treasury 20+ Year Bond Index. It was launched on Jul 22, 2002. VUSTX is managed by Vanguard. It was launched on May 19, 1986.
Performance
TLT vs. VUSTX - Performance Comparison
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TLT vs. VUSTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 0.69% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
VUSTX Vanguard Long-Term Treasury Fund Investor Shares | -0.18% | 5.55% | -6.41% | 3.33% | -29.58% | -4.93% | 18.20% | 14.14% | -1.89% | 8.60% |
Returns By Period
In the year-to-date period, TLT achieves a 0.69% return, which is significantly higher than VUSTX's -0.18% return. Over the past 10 years, TLT has underperformed VUSTX with an annualized return of -1.34%, while VUSTX has yielded a comparatively higher -0.90% annualized return.
TLT
- 1D
- 0.61%
- 1M
- -2.26%
- YTD
- 0.69%
- 6M
- -0.72%
- 1Y
- -1.22%
- 3Y*
- -2.76%
- 5Y*
- -5.75%
- 10Y*
- -1.34%
VUSTX
- 1D
- 0.51%
- 1M
- -2.59%
- YTD
- -0.18%
- 6M
- -0.60%
- 1Y
- -0.86%
- 3Y*
- -1.67%
- 5Y*
- -4.91%
- 10Y*
- -0.90%
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TLT vs. VUSTX - Expense Ratio Comparison
TLT has a 0.15% expense ratio, which is lower than VUSTX's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
TLT vs. VUSTX — Risk / Return Rank
TLT
VUSTX
TLT vs. VUSTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and Vanguard Long-Term Treasury Fund Investor Shares (VUSTX). 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.
| TLT | VUSTX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.07 | -0.01 | -0.05 |
Sortino ratioReturn per unit of downside risk | -0.01 | 0.05 | -0.07 |
Omega ratioGain probability vs. loss probability | 1.00 | 1.01 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | -0.09 | -0.03 | -0.06 |
Martin ratioReturn relative to average drawdown | -0.19 | -0.06 | -0.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TLT | VUSTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.07 | -0.01 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.36 | -0.34 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.09 | -0.07 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.44 | -0.18 |
Correlation
The correlation between TLT and VUSTX is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
TLT vs. VUSTX - Dividend Comparison
TLT's dividend yield for the trailing twelve months is around 4.51%, more than VUSTX's 4.00% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 4.51% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
VUSTX Vanguard Long-Term Treasury Fund Investor Shares | 4.00% | 4.29% | 4.03% | 3.33% | 2.93% | 4.21% | 10.38% | 2.82% | 2.82% | 2.64% | 5.27% | 5.52% |
Drawdowns
TLT vs. VUSTX - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, roughly equal to the maximum VUSTX drawdown of -46.37%. Use the drawdown chart below to compare losses from any high point for TLT and VUSTX.
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Drawdown Indicators
| TLT | VUSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -46.37% | -1.98% |
Max Drawdown (1Y)Largest decline over 1 year | -9.23% | -8.77% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | -41.45% | -2.25% |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | -46.37% | -1.98% |
Current DrawdownCurrent decline from peak | -39.86% | -36.54% | -3.32% |
Average DrawdownAverage peak-to-trough decline | -13.63% | -9.23% | -4.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.40% | 3.97% | +0.43% |
Volatility
TLT vs. VUSTX - Volatility Comparison
iShares 20+ Year Treasury Bond ETF (TLT) and Vanguard Long-Term Treasury Fund Investor Shares (VUSTX) have volatilities of 3.79% and 3.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLT | VUSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 3.65% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 6.63% | 6.08% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.38% | 10.41% | +0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 14.62% | +1.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.93% | 13.78% | +1.15% |