VBLIX vs. TLT
Compare and contrast key facts about Vanguard Long-Term Bond Index Fund Institutional Plus (VBLIX) and iShares 20+ Year Treasury Bond ETF (TLT).
VBLIX is managed by Vanguard. It was launched on Oct 6, 2011. 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.
Performance
VBLIX vs. TLT - Performance Comparison
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VBLIX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBLIX Vanguard Long-Term Bond Index Fund Institutional Plus | -0.96% | 6.61% | -4.11% | 6.78% | -27.20% | -3.08% | 16.29% | 19.16% | -4.70% | 10.90% |
TLT iShares 20+ Year Treasury Bond ETF | 0.07% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Returns By Period
In the year-to-date period, VBLIX achieves a -0.96% return, which is significantly lower than TLT's 0.07% return. Over the past 10 years, VBLIX has outperformed TLT with an annualized return of 1.00%, while TLT has yielded a comparatively lower -1.39% annualized return.
VBLIX
- 1D
- 0.19%
- 1M
- -3.26%
- YTD
- -0.96%
- 6M
- -1.47%
- 1Y
- 1.17%
- 3Y*
- 0.59%
- 5Y*
- -3.30%
- 10Y*
- 1.00%
TLT
- 1D
- -0.10%
- 1M
- -3.35%
- YTD
- 0.07%
- 6M
- -1.23%
- 1Y
- -1.44%
- 3Y*
- -2.81%
- 5Y*
- -5.87%
- 10Y*
- -1.39%
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VBLIX vs. TLT - Expense Ratio Comparison
VBLIX has a 0.04% expense ratio, which is lower than TLT's 0.15% 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
VBLIX vs. TLT — Risk / Return Rank
VBLIX
TLT
VBLIX vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond Index Fund Institutional Plus (VBLIX) 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.
| VBLIX | TLT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.19 | -0.13 | +0.32 |
Sortino ratioReturn per unit of downside risk | 0.32 | -0.10 | +0.42 |
Omega ratioGain probability vs. loss probability | 1.04 | 0.99 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 0.43 | -0.06 | +0.49 |
Martin ratioReturn relative to average drawdown | 1.03 | -0.13 | +1.17 |
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
| VBLIX | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.19 | -0.13 | +0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.26 | -0.37 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | -0.09 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.26 | -0.04 |
Correlation
The correlation between VBLIX and TLT is 0.97, 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
VBLIX vs. TLT - Dividend Comparison
VBLIX's dividend yield for the trailing twelve months is around 4.36%, less than TLT's 4.53% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBLIX Vanguard Long-Term Bond Index Fund Institutional Plus | 4.36% | 4.67% | 4.64% | 3.42% | 4.17% | 2.89% | 5.85% | 3.63% | 3.83% | 3.71% | 4.20% | 5.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.53% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Drawdowns
VBLIX vs. TLT - Drawdown Comparison
The maximum VBLIX drawdown since its inception was -38.61%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for VBLIX and TLT.
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Drawdown Indicators
| VBLIX | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.61% | -48.35% | +9.74% |
Max Drawdown (1Y)Largest decline over 1 year | -6.87% | -9.23% | +2.36% |
Max Drawdown (5Y)Largest decline over 5 years | -36.49% | -43.70% | +7.21% |
Max Drawdown (10Y)Largest decline over 10 years | -38.61% | -48.35% | +9.74% |
Current DrawdownCurrent decline from peak | -25.80% | -40.23% | +14.43% |
Average DrawdownAverage peak-to-trough decline | -11.34% | -13.62% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 4.39% | -1.57% |
Volatility
VBLIX vs. TLT - Volatility Comparison
The current volatility for Vanguard Long-Term Bond Index Fund Institutional Plus (VBLIX) is 3.44%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 3.71%. This indicates that VBLIX experiences smaller price fluctuations and is considered to be less risky 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
| VBLIX | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 3.71% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 5.49% | 6.61% | -1.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.55% | 11.40% | -1.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.89% | 15.88% | -2.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.58% | 14.93% | -3.35% |