VFINX vs. TLT
VFINX (Vanguard 500 Index Fund Investor Shares) and TLT (iShares 20+ Year Treasury Bond ETF) are both funds - VFINX is a Large Cap Blend Equities fund tracking the S&P 500 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, VFINX returned 15.37%/yr vs -1.78%/yr for TLT. At a correlation of -0.25, they often move in opposite directions. VFINX charges 0.14%/yr vs 0.15%/yr for TLT.
Performance
VFINX vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, VFINX achieves a 9.08% return, which is significantly higher than TLT's 0.21% return. Over the past 10 years, VFINX has outperformed TLT with an annualized return of 15.37%, while TLT has yielded a comparatively lower -1.78% annualized return.
VFINX
- 1D
- 0.51%
- 1M
- 0.41%
- YTD
- 9.08%
- 6M
- 9.58%
- 1Y
- 25.66%
- 3Y*
- 20.83%
- 5Y*
- 13.30%
- 10Y*
- 15.37%
TLT
- 1D
- -0.06%
- 1M
- 2.87%
- YTD
- 0.21%
- 6M
- 0.32%
- 1Y
- 3.82%
- 3Y*
- -1.84%
- 5Y*
- -6.36%
- 10Y*
- -1.78%
VFINX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFINX Vanguard 500 Index Fund Investor Shares | 9.08% | 17.71% | 24.84% | 26.12% | -18.24% | 28.53% | 18.20% | 31.33% | -4.55% | 21.66% |
TLT iShares 20+ Year Treasury Bond ETF | 0.21% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between VFINX and TLT is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.25 |
The correlation between VFINX and TLT shifts across timeframes, from -0.25 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VFINX vs. TLT — Risk / Return Rank
VFINX
TLT
VFINX vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard 500 Index Fund Investor Shares (VFINX) 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.
| VFINX | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.57 | ||
| Sortino ratioReturn per unit of downside risk | +2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.07 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 0.51 | +2.23 |
| Martin ratioReturn relative to average drawdown | 12.39 | 1.22 | +11.18 |
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Drawdowns
VFINX vs. TLT - Drawdown Comparison
The maximum VFINX drawdown since its inception was -55.25%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for VFINX and TLT.
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Drawdown Indicators
| VFINX | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.25% | -48.35% | -6.90% |
Max Drawdown (1Y)Largest decline over 1 year | -8.92% | -7.58% | -1.34% |
Max Drawdown (3Y)Largest decline over 3 years | -18.76% | -19.18% | +0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -24.59% | -43.70% | +19.11% |
Max Drawdown (10Y)Largest decline over 10 years | -33.83% | -48.35% | +14.52% |
Current DrawdownCurrent decline from peak | -2.30% | -40.15% | +37.85% |
Average DrawdownAverage peak-to-trough decline | -8.28% | -13.85% | +5.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 3.14% | -1.18% |
Volatility
VFINX vs. TLT - Volatility Comparison
Vanguard 500 Index Fund Investor Shares (VFINX) has a higher volatility of 4.42% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.84%. This indicates that VFINX'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
| VFINX | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 2.84% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 9.69% | 6.64% | +3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.37% | 9.57% | +2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.97% | 15.86% | +1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.09% | 14.91% | +3.18% |
VFINX vs. TLT - Expense Ratio Comparison
VFINX has a 0.14% 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%.
Dividends
VFINX vs. TLT - Dividend Comparison
VFINX's dividend yield for the trailing twelve months is around 0.95%, less than TLT's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 4.57% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
VFINX Vanguard 500 Index Fund Investor Shares | 0.95% | 1.02% | 1.14% | 1.36% | 1.57% | 1.15% | 1.45% | 1.77% | 1.94% | 1.69% | 1.92% | 1.99% |
Frequently Asked Questions
VFINX and TLT have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFINX has higher volatility (4.42%) compared to TLT (2.84%). In terms of maximum drawdown, VFINX dropped -55.25% vs TLT's -48.35%.
VFINX currently has the higher Sharpe Ratio (1.97 vs 0.40), 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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