URTH vs. TLT
URTH (iShares MSCI World ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - URTH is a Global Equities fund tracking the MSCI World Index (Net), 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, URTH returned 13.05%/yr vs -2.33%/yr for TLT. Their -0.13 correlation means they have often moved in opposite directions in the past. URTH charges 0.24%/yr vs 0.15%/yr for TLT.
Performance
URTH vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, URTH achieves a 11.55% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, URTH has outperformed TLT with an annualized return of 13.05%, while TLT has yielded a comparatively lower -2.33% annualized return.
URTH
- 1D
- 1.22%
- 1M
- 1.58%
- 6M
- 8.69%
- YTD
- 11.55%
- 1Y
- 23.64%
- 3Y*
- 19.83%
- 5Y*
- 11.46%
- 10Y*
- 13.05%
- ALL TIME*
- 12.26%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.39B | $2.06B | $2.20B | |
| $88.61M | $87.13M | $139.76M |
URTH vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
URTH iShares MSCI World ETF | 11.55% | 21.36% | 18.66% | 23.95% | -17.97% | 22.27% | 15.78% | 28.15% | -8.56% | 22.95% |
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% |
Correlation
The correlation between URTH and TLT is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2012 | -0.13 |
The correlation between URTH and TLT shifts across timeframes, from -0.13 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
URTH vs. TLT — Risk / Return Rank
URTH
TLT
URTH vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World ETF (URTH) 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.
| URTH | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.05 | ||
| Sortino ratioReturn per unit of downside risk | +2.81 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.97 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | -0.28 | +2.90 |
| Martin ratioReturn relative to average drawdown | 11.33 | -0.59 | +11.92 |
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Drawdowns
URTH vs. TLT - Drawdown Comparison
The maximum URTH drawdown since its inception was -34.01%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for URTH and TLT.
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Drawdown Indicators
| URTH | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.01% | -48.35% | +14.34% |
Max Drawdown (1Y)Largest decline over 1 year | -9.06% | -7.74% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -16.94% | -14.79% | -2.15% |
Max Drawdown (5Y)Largest decline over 5 years | -26.05% | -43.70% | +17.65% |
Max Drawdown (10Y)Largest decline over 10 years | -34.01% | -48.35% | +14.34% |
Current DrawdownCurrent decline from peak | 0.00% | -42.17% | +42.17% |
Average DrawdownAverage peak-to-trough decline | -4.34% | -14.00% | +9.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 3.60% | -1.51% |
Volatility
URTH vs. TLT - Volatility Comparison
iShares MSCI World ETF (URTH) has a higher volatility of 3.77% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that URTH'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
| URTH | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 2.51% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 10.68% | 6.84% | +3.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.05% | 9.24% | +3.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.31% | 15.74% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.20% | 14.83% | +2.37% |
URTH vs. TLT - Expense Ratio Comparison
URTH has a 0.24% expense ratio, which is higher than TLT's 0.15% 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
URTH vs. TLT - Dividend Comparison
URTH's dividend yield for the trailing twelve months is around 1.38%, less than TLT's 4.75% 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% |
URTH iShares MSCI World ETF | 1.38% | 1.48% | 1.47% | 1.70% | 1.68% | 1.50% | 1.52% | 2.16% | 2.30% | 1.88% | 2.15% | 2.35% |
Frequently Asked Questions
URTH and TLT have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
URTH has higher volatility (3.77%) compared to TLT (2.51%). In terms of maximum drawdown, URTH dropped -34.01% vs TLT's -48.35%.
On 10-year performance, URTH leads with 13.05% vs -2.33% for TLT. On fees, TLT is cheaper at 0.15% 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, URTH has performed better with a 13.05% return vs -2.33%. 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 0.24% for URTH.
TLT has the higher dividend yield at 4.75%, compared with 1.38% for URTH.
URTH is categorized as Global Equities, while TLT is Government Bonds. URTH tracks MSCI World Index (Net), while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.24% for URTH and 0.15% for TLT.
URTH 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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