TUR vs. TLT
TUR (iShares MSCI Turkey ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - TUR is a Emerging Markets Equities fund tracking the MSCI Turkey Investable Market Index, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 10 years, TUR returned 2.47%/yr vs -1.66%/yr for TLT. At a correlation of -0.15, they often move in opposite directions. TUR charges 0.59%/yr vs 0.15%/yr for TLT.
Performance
TUR vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TUR achieves a 13.80% return, which is significantly higher than TLT's -0.27% return. Over the past 10 years, TUR has outperformed TLT with an annualized return of 2.47%, while TLT has yielded a comparatively lower -1.66% annualized return.
TUR
- 1D
- -2.34%
- 1M
- -6.69%
- YTD
- 13.80%
- 6M
- 16.84%
- 1Y
- 30.29%
- 3Y*
- 10.24%
- 5Y*
- 14.80%
- 10Y*
- 2.47%
TLT
- 1D
- -0.40%
- 1M
- 0.81%
- YTD
- -0.27%
- 6M
- -2.02%
- 1Y
- 4.93%
- 3Y*
- -1.80%
- 5Y*
- -6.31%
- 10Y*
- -1.66%
TUR vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TUR iShares MSCI Turkey ETF | 13.80% | -1.54% | 12.91% | -8.83% | 105.75% | -27.41% | -1.19% | 14.49% | -41.46% | 37.58% |
TLT iShares 20+ Year Treasury Bond ETF | -0.27% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between TUR and TLT is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2008 | -0.15 |
The correlation between TUR and TLT shifts across timeframes, from -0.15 (all time) to 0.14 (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.
Return for Risk
TUR vs. TLT — Risk / Return Rank
TUR
TLT
TUR vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Turkey ETF (TUR) and iShares 20+ Year Treasury Bond ETF (TLT). 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.
| TUR | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.09 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 0.65 | +1.24 |
| Martin ratioReturn relative to average drawdown | 5.67 | 1.63 | +4.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| TUR | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 0.51 | +0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | -0.40 | +0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.07 | -0.11 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.26 | -0.22 |
Drawdowns
TUR vs. TLT - Drawdown Comparison
The maximum TUR drawdown since its inception was -72.34%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for TUR and TLT.
Loading charts...
Drawdown Indicators
| TUR | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.34% | -48.35% | -23.99% |
Max Drawdown (1Y)Largest decline over 1 year | -16.07% | -7.58% | -8.49% |
Max Drawdown (3Y)Largest decline over 3 years | -31.63% | -19.18% | -12.45% |
Max Drawdown (5Y)Largest decline over 5 years | -31.63% | -43.70% | +12.07% |
Max Drawdown (10Y)Largest decline over 10 years | -59.25% | -48.35% | -10.90% |
Current DrawdownCurrent decline from peak | -28.38% | -40.44% | +12.06% |
Average DrawdownAverage peak-to-trough decline | -39.90% | -13.82% | -26.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.36% | 3.04% | +2.32% |
Volatility
TUR vs. TLT - Volatility Comparison
iShares MSCI Turkey ETF (TUR) has a higher volatility of 14.14% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. This indicates that TUR's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TUR | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.14% | 2.76% | +11.38% |
Volatility (6M)Calculated over the trailing 6-month period | 19.90% | 6.50% | +13.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.40% | 9.77% | +15.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.16% | 15.87% | +18.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.39% | 14.91% | +19.48% |
TUR vs. TLT - Expense Ratio Comparison
TUR has a 0.59% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
TUR vs. TLT - Dividend Comparison
TUR's dividend yield for the trailing twelve months is around 2.11%, less than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 4.59% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
TUR iShares MSCI Turkey ETF | 2.11% | 2.40% | 1.79% | 4.43% | 1.97% | 4.22% | 0.87% | 3.29% | 4.05% | 2.64% | 2.89% | 3.04% |
Frequently Asked Questions
TUR and TLT have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TUR has higher volatility (14.14%) compared to TLT (2.76%). In terms of maximum drawdown, TUR dropped -72.34% vs TLT's -48.35%.
On 10-year performance, TUR leads with 2.47% vs -1.66% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TUR has performed better with a 2.47% return vs -1.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.59% for TUR.
TLT has the higher dividend yield at 4.59%, compared with 2.11% for TUR.
TUR is categorized as Emerging Markets Equities, while TLT is Government Bonds. TUR tracks MSCI Turkey Investable Market Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.59% for TUR and 0.15% for TLT.
TUR currently has the higher Sharpe Ratio (1.20 vs 0.51), 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.
Find the right allocation for TUR and TLT
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