VETZ vs. TLT
VETZ (Academy Veteran Bond ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - VETZ is a Mortgage Backed Securities fund actively managed by Academy, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. VETZ is actively managed, while TLT is passively managed. Over the past year, VETZ returned 3.17% vs -2.45% for TLT. Their 0.73 correlation means they have sometimes moved together and sometimes differently. VETZ charges 0.35%/yr vs 0.15%/yr for TLT.
Performance
VETZ vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VETZ achieves a -0.34% return, which is significantly higher than TLT's -3.49% return.
VETZ
- 1D
- -0.74%
- 1M
- -1.59%
- 6M
- -0.89%
- YTD
- -0.34%
- 1Y
- 3.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.55%
TLT
- 1D
- -0.66%
- 1M
- -3.81%
- 6M
- -3.46%
- YTD
- -3.49%
- 1Y
- -2.45%
- 3Y*
- -1.80%
- 5Y*
- -8.18%
- 10Y*
- -2.38%
- ALL TIME*
- 3.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.33B | $2.02B | $2.19B | |
| $1.58M | $821.90K | $556.10K |
VETZ vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VETZ Academy Veteran Bond ETF | -0.34% | 8.02% | 2.22% | 3.84% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 4.25% | -8.05% | 2.37% |
Correlation
The correlation between VETZ and TLT is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2023 | 0.73 |
The correlation between VETZ and TLT has been stable across timeframes, ranging from 0.70 to 0.73 - a consistent structural relationship.
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
VETZ vs. TLT — Risk / Return Rank
VETZ
TLT
VETZ vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Academy Veteran Bond ETF (VETZ) 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.
| VETZ | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.99 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | -0.14 | +1.64 |
| Martin ratioReturn relative to average drawdown | 4.39 | -0.30 | +4.69 |
Loading charts...
Drawdowns
VETZ vs. TLT - Drawdown Comparison
The maximum VETZ drawdown since its inception was -5.16%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for VETZ and TLT.
Loading charts...
Drawdown Indicators
| VETZ | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.16% | -48.35% | +43.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -7.74% | +5.01% |
Max Drawdown (3Y)Largest decline over 3 years | -5.16% | -14.79% | +9.63% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -2.33% | -42.36% | +40.03% |
Average DrawdownAverage peak-to-trough decline | -1.30% | -13.99% | +12.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 3.57% | -2.64% |
Volatility
VETZ vs. TLT - Volatility Comparison
The current volatility for Academy Veteran Bond ETF (VETZ) is 1.36%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.46%. This indicates that VETZ 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.
Loading charts...
Volatility by Period
| VETZ | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 2.46% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.36% | 6.85% | -3.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.69% | 9.32% | -4.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 15.74% | -9.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.08% | 14.83% | -8.75% |
VETZ vs. TLT - Expense Ratio Comparison
VETZ has a 0.35% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
VETZ vs. TLT - Dividend Comparison
VETZ's dividend yield for the trailing twelve months is around 6.14%, more 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 | 4.34% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
VETZ Academy Veteran Bond ETF | 5.63% | 6.14% | 5.89% | 1.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VETZ and TLT have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.46%) compared to VETZ (1.36%). In terms of maximum drawdown, VETZ dropped -5.16% vs TLT's -48.35%.
On 1-year performance, VETZ leads with 3.17% vs -2.45% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, VETZ has been the lower-risk option at 1.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VETZ has performed better with a 3.17% return vs -2.45%. 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 0.35% for VETZ.
VETZ has the higher dividend yield at 5.63%, compared with 4.34% for TLT.
VETZ is categorized as Mortgage Backed Securities, while TLT is Government Bonds. They also come from different issuers: Academy and iShares. Their fees differ too: 0.35% for VETZ and 0.15% for TLT.
VETZ currently has the higher Sharpe Ratio (0.88 vs -0.11), 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 VETZ 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