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TLT vs. VV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TLT vs. VV

Last updated Jun 3, 2026

TLT (iShares 20+ Year Treasury Bond ETF) and VV (Vanguard Large-Cap ETF) are both exchange-traded funds - TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while VV is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Index. Both are passively managed. Over the past 10 years, TLT returned -1.62%/yr vs 15.66%/yr for VV. At a correlation of -0.24, they often move in opposite directions. TLT charges 0.15%/yr vs 0.04%/yr for VV.

Performance

TLT vs. VV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 20+ Year Treasury Bond ETF (TLT) and Vanguard Large-Cap ETF (VV). 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 0.13% return, which is significantly lower than VV's 11.49% return. Over the past 10 years, TLT has underperformed VV with an annualized return of -1.62%, while VV has yielded a comparatively higher 15.66% annualized return.

TLT

1D
0.21%
1M
0.44%
YTD
0.13%
6M
-1.35%
1Y
5.16%
3Y*
-1.67%
5Y*
-5.98%
10Y*
-1.62%

VV

1D
0.18%
1M
5.61%
YTD
11.49%
6M
11.76%
1Y
29.28%
3Y*
22.98%
5Y*
13.92%
10Y*
15.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TLT vs. VV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TLT
iShares 20+ Year Treasury Bond ETF		0.13%4.25%-8.05%2.77%-31.23%-4.60%18.15%14.12%-1.61%9.18%
VV
Vanguard Large-Cap ETF		11.49%18.11%25.25%27.18%-19.91%27.41%21.04%31.25%-4.46%22.00%

Correlation

The correlation between TLT and VV is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.20

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 Feb 2, 2004

-0.24

The correlation between TLT and VV shifts across timeframes, from -0.24 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.

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 Large-Cap ETF

Often compared with TLT:
TLT vs. SPYTLT vs. IEFTLT vs. TMFTLT vs. BNDTLT vs. VGLTTLT vs. TLTWTLT vs. EDV
Often compared with VV:
VV vs. VOOVV vs. FXAIXVV vs. VUGVV vs. VTVVV vs. VTIVV vs. VIGVV vs. SCHD

Return for Risk

TLT vs. VV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TLT
TLT Risk / Return Rank: 1616
Overall Rank
TLT Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
TLT Sortino Ratio Rank: 1717
Sortino Ratio Rank
TLT Omega Ratio Rank: 1616
Omega Ratio Rank
TLT Calmar Ratio Rank: 1515
Calmar Ratio Rank
TLT Martin Ratio Rank: 1515
Martin Ratio Rank
VV
VV Risk / Return Rank: 7373
Overall Rank
VV Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
VV Sortino Ratio Rank: 7373
Sortino Ratio Rank
VV Omega Ratio Rank: 7474
Omega Ratio Rank
VV Calmar Ratio Rank: 6565
Calmar Ratio Rank
VV Martin Ratio Rank: 7777
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. VV - Risk-Adjusted Trends Comparison

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

TLTVVDifference

Sharpe ratio

Return per unit of total volatility

0.53

2.46

-1.93

Sortino ratio

Return per unit of downside risk

0.83

3.35

-2.51

Omega ratio

Gain probability vs. loss probability

1.09

1.44

-0.35

Calmar ratio

Return relative to maximum drawdown

0.55

3.28

-2.73

Martin ratio

Return relative to average drawdown

1.38

15.05

-13.66

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. VV - Sharpe Ratio Comparison

The current TLT Sharpe Ratio is 0.53, which is lower than the VV Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of TLT and VV, 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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Sharpe Ratios by Period

TLTVVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.53

2.46

-1.93

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.38

0.81

-1.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.11

0.86

-0.97

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

0.60

-0.34

Drawdowns

TLT vs. VV - Drawdown Comparison

The maximum TLT drawdown since its inception was -48.35%, smaller than the maximum VV drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for TLT and VV.

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Drawdown Indicators

TLTVVDifference

Max Drawdown

Largest peak-to-trough decline

-48.35%

-54.81%

+6.46%

Max Drawdown (1Y)

Largest decline over 1 year

-7.58%

-9.21%

+1.63%

Max Drawdown (3Y)

Largest decline over 3 years

-19.18%

-18.97%

-0.21%

Max Drawdown (5Y)

Largest decline over 5 years

-43.70%

-25.66%

-18.04%

Max Drawdown (10Y)

Largest decline over 10 years

-48.35%

-34.28%

-14.07%

Current Drawdown

Current decline from peak

-40.20%

0.00%

-40.20%

Average Drawdown

Average peak-to-trough decline

-13.81%

-6.84%

-6.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.02%

2.01%

+1.01%

Volatility

TLT vs. VV - Volatility Comparison

iShares 20+ Year Treasury Bond ETF (TLT) and Vanguard Large-Cap ETF (VV) have volatilities of 2.84% and 2.72%, 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

TLTVVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.84%

2.72%

+0.12%

Volatility (6M)

Calculated over the trailing 6-month period

6.60%

8.96%

-2.36%

Volatility (1Y)

Calculated over the trailing 1-year period

9.81%

11.98%

-2.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.87%

17.22%

-1.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.91%

18.20%

-3.29%

TLT vs. VV - Expense Ratio Comparison

TLT has a 0.15% expense ratio, which is higher than VV's 0.04% 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. VV - Dividend Comparison

TLT's dividend yield for the trailing twelve months is around 4.57%, more than VV's 0.97% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VV
Vanguard Large-Cap ETF		0.97%1.08%1.24%1.41%1.66%1.19%1.46%1.81%2.09%1.75%1.98%1.96%

Frequently Asked Questions

TLT and VV have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TLT has higher volatility (2.84%) compared to VV (2.72%). In terms of maximum drawdown, TLT dropped -48.35% vs VV's -54.81%.

On 10-year performance, VV leads with 15.66% vs -1.62% for TLT. On fees, VV is cheaper at 0.04% per year. On volatility, VV has been the lower-risk option at 2.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VV has performed better with a 15.66% return vs -1.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VV is cheaper with a 0.04% expense ratio, compared with 0.15% for TLT.

TLT has the higher dividend yield at 4.57%, compared with 0.97% for VV.

TLT is categorized as Government Bonds, while VV is Large Cap Growth Equities. TLT tracks ICE U.S. Treasury 20+ Year Bond Index, while VV tracks CRSP US Large Cap Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for TLT and 0.04% for VV.

VV currently has the higher Sharpe Ratio (2.46 vs 0.53), 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

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