ULTA vs. TLT
ULTA (Ulta Beauty, Inc.) is a stock, while TLT (iShares 20+ Year Treasury Bond ETF) is Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Over the past 10 years, ULTA returned 7.00%/yr vs -1.75%/yr for TLT. At a correlation of -0.15, they often move in opposite directions.
Performance
ULTA vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, ULTA achieves a -22.69% return, which is significantly lower than TLT's 0.27% return. Over the past 10 years, ULTA has outperformed TLT with an annualized return of 7.00%, while TLT has yielded a comparatively lower -1.75% annualized return.
ULTA
- 1D
- -1.82%
- 1M
- -6.13%
- YTD
- -22.69%
- 6M
- -22.25%
- 1Y
- 1.87%
- 3Y*
- 1.77%
- 5Y*
- 6.68%
- 10Y*
- 7.00%
TLT
- 1D
- -0.24%
- 1M
- 1.40%
- YTD
- 0.27%
- 6M
- 0.45%
- 1Y
- 3.88%
- 3Y*
- -1.38%
- 5Y*
- -6.53%
- 10Y*
- -1.75%
ULTA vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ULTA Ulta Beauty, Inc. | -22.69% | 39.11% | -11.24% | 4.46% | 13.76% | 43.59% | 13.44% | 3.39% | 9.47% | -12.27% |
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 ULTA and TLT is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2007 | -0.15 |
The correlation between ULTA and TLT shifts across timeframes, from -0.15 (all time) to 0.11 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ULTA vs. TLT — Risk / Return Rank
ULTA
TLT
ULTA vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ulta Beauty, Inc. (ULTA) 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.
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.
| ULTA | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.06 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 0.38 | -0.35 |
| Martin ratioReturn relative to average drawdown | 0.08 | 0.92 | -0.84 |
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Drawdowns
ULTA vs. TLT - Drawdown Comparison
The maximum ULTA drawdown since its inception was -87.89%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for ULTA and TLT.
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Drawdown Indicators
| ULTA | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.89% | -48.35% | -39.54% |
Max Drawdown (1Y)Largest decline over 1 year | -34.56% | -7.58% | -26.98% |
Max Drawdown (3Y)Largest decline over 3 years | -44.56% | -19.18% | -25.38% |
Max Drawdown (5Y)Largest decline over 5 years | -44.56% | -43.70% | -0.86% |
Max Drawdown (10Y)Largest decline over 10 years | -64.92% | -48.35% | -16.57% |
Current DrawdownCurrent decline from peak | -33.82% | -40.12% | +6.30% |
Average DrawdownAverage peak-to-trough decline | -20.81% | -13.84% | -6.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.13% | 3.14% | +10.99% |
Volatility
ULTA vs. TLT - Volatility Comparison
Ulta Beauty, Inc. (ULTA) has a higher volatility of 9.69% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.83%. This indicates that ULTA'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.
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Volatility by Period
| ULTA | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.69% | 2.83% | +6.86% |
Volatility (6M)Calculated over the trailing 6-month period | 25.04% | 6.64% | +18.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.39% | 9.68% | +23.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.26% | 15.85% | +18.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.32% | 14.91% | +23.41% |
Dividends
ULTA vs. TLT - Dividend Comparison
ULTA has not paid dividends to shareholders, while TLT's dividend yield for the trailing twelve months is around 4.56%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 4.56% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
ULTA Ulta Beauty, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ULTA and TLT have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ULTA has higher volatility (9.69%) compared to TLT (2.83%). In terms of maximum drawdown, ULTA dropped -87.89% vs TLT's -48.35%.
TLT currently has the higher Sharpe Ratio (0.30 vs 0.03), 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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