PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VLUE vs. TLT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VLUE vs. TLT

Last updated Jun 4, 2026

VLUE (iShares Edge MSCI USA Value Factor ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - VLUE is a Large Cap Value Equities fund tracking the MSCI USA Value Weighted 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, VLUE returned 15.43%/yr vs -1.66%/yr for TLT. At a correlation of -0.18, they often move in opposite directions. Both charge a 0.15% expense ratio.

Performance

VLUE vs. TLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI USA Value Factor ETF (VLUE) and iShares 20+ Year Treasury Bond ETF (TLT). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VLUE achieves a 49.00% return, which is significantly higher than TLT's -0.27% return. Over the past 10 years, VLUE has outperformed TLT with an annualized return of 15.43%, while TLT has yielded a comparatively lower -1.66% annualized return.

VLUE

1D
-0.42%
1M
20.77%
YTD
49.00%
6M
51.40%
1Y
91.45%
3Y*
34.26%
5Y*
16.36%
10Y*
15.43%

TLT

1D
-0.40%
1M
0.81%
YTD
-0.27%
6M
-2.02%
1Y
4.93%
3Y*
-1.80%
5Y*
-6.31%
10Y*
-1.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VLUE vs. TLT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VLUE
iShares Edge MSCI USA Value Factor ETF		49.00%32.67%7.25%14.26%-14.17%28.93%-0.23%27.20%-11.13%21.95%
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 VLUE and TLT is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.16

Correlation (3Y)
Calculated over the trailing 3-year period

0.18

Correlation (5Y)
Calculated over the trailing 5-year period

0.04

Correlation (10Y)
Calculated over the trailing 10-year period

-0.15

Correlation (All Time)
Calculated using the full available price history since Apr 19, 2013

-0.18

The correlation between VLUE and TLT shifts across timeframes, from -0.18 (all time) to 0.18 (3 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Edge MSCI USA Value Factor ETF

iShares 20+ Year Treasury Bond ETF

Often compared with VLUE:
VLUE vs. VLUVLUE vs. AVLVVLUE vs. VOOVLUE vs. IUSVVLUE vs. QVALVLUE vs. SCHVVLUE vs. SCHD
Often compared with TLT:
TLT vs. SPYTLT vs. IEFTLT vs. TMFTLT vs. BNDTLT vs. VGLTTLT vs. TLTWTLT vs. EDV

Return for Risk

VLUE vs. TLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VLUE
VLUE Risk / Return Rank: 9797
Overall Rank
VLUE Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
VLUE Sortino Ratio Rank: 9898
Sortino Ratio Rank
VLUE Omega Ratio Rank: 9797
Omega Ratio Rank
VLUE Calmar Ratio Rank: 9696
Calmar Ratio Rank
VLUE Martin Ratio Rank: 9797
Martin Ratio Rank
TLT
TLT Risk / Return Rank: 1616
Overall Rank
TLT Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
TLT Sortino Ratio Rank: 1515
Sortino Ratio Rank
TLT Omega Ratio Rank: 1515
Omega Ratio Rank
TLT Calmar Ratio Rank: 1717
Calmar Ratio Rank
TLT Martin Ratio Rank: 1616
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VLUE vs. TLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Value Factor ETF (VLUE) 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.

VLUETLTDifference

Sharpe ratio

Return per unit of total volatility

5.32

0.51

+4.82

Sortino ratio

Return per unit of downside risk

6.86

0.80

+6.06

Omega ratio

Gain probability vs. loss probability

1.91

1.09

+0.82

Calmar ratio

Return relative to maximum drawdown

10.17

0.65

+9.52

Martin ratio

Return relative to average drawdown

45.62

1.63

+43.99

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VLUE vs. TLT - Sharpe Ratio Comparison

The current VLUE Sharpe Ratio is 5.32, which is higher than the TLT Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of VLUE and TLT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

VLUETLTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

5.32

0.51

+4.82

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.92

-0.40

+1.32

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.78

-0.11

+0.89

Sharpe Ratio (All Time)

Calculated using the full available price history

0.76

0.26

+0.51

Drawdowns

VLUE vs. TLT - Drawdown Comparison

The maximum VLUE drawdown since its inception was -39.47%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for VLUE and TLT.

Loading charts...

Drawdown Indicators

VLUETLTDifference

Max Drawdown

Largest peak-to-trough decline

-39.47%

-48.35%

+8.88%

Max Drawdown (1Y)

Largest decline over 1 year

-9.04%

-7.58%

-1.46%

Max Drawdown (3Y)

Largest decline over 3 years

-17.89%

-19.18%

+1.29%

Max Drawdown (5Y)

Largest decline over 5 years

-27.12%

-43.70%

+16.58%

Max Drawdown (10Y)

Largest decline over 10 years

-39.47%

-48.35%

+8.88%

Current Drawdown

Current decline from peak

-0.42%

-40.44%

+40.02%

Average Drawdown

Average peak-to-trough decline

-6.01%

-13.82%

+7.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.01%

3.04%

-1.03%

Volatility

VLUE vs. TLT - Volatility Comparison

iShares Edge MSCI USA Value Factor ETF (VLUE) has a higher volatility of 8.03% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. This indicates that VLUE'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.

Loading charts...

Volatility by Period

VLUETLTDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.03%

2.76%

+5.27%

Volatility (6M)

Calculated over the trailing 6-month period

13.96%

6.50%

+7.46%

Volatility (1Y)

Calculated over the trailing 1-year period

17.30%

9.77%

+7.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.78%

15.87%

+1.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.82%

14.91%

+4.91%

VLUE vs. TLT - Expense Ratio Comparison

Both VLUE and TLT have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VLUE vs. TLT - Dividend Comparison

VLUE's dividend yield for the trailing twelve months is around 1.40%, less than TLT's 4.59% yield.

PositionTTM20252024202320222021202020192018201720162015
TLT
iShares 20+ Year Treasury Bond ETF		4.59%4.43%4.30%3.38%2.67%1.50%1.50%2.27%2.63%2.43%2.60%2.61%
VLUE
iShares Edge MSCI USA Value Factor ETF		1.40%2.11%2.73%2.66%3.18%2.22%2.42%2.61%2.70%2.14%2.07%2.39%

Frequently Asked Questions

VLUE and TLT have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VLUE has higher volatility (8.03%) compared to TLT (2.76%). In terms of maximum drawdown, VLUE dropped -39.47% vs TLT's -48.35%.

On 10-year performance, VLUE leads with 15.43% vs -1.66% for TLT. Both ETFs have the same 0.15% expense ratio. On volatility, TLT has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VLUE has performed better with a 15.43% return vs -1.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VLUE and TLT have the same expense ratio: 0.15% per year.

TLT has the higher dividend yield at 4.59%, compared with 1.40% for VLUE.

VLUE is categorized as Large Cap Value Equities, while TLT is Government Bonds. VLUE tracks MSCI USA Value Weighted Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index.

VLUE currently has the higher Sharpe Ratio (5.32 vs 0.51), 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.

Portfolio Optimizer

Find the right allocation for VLUE 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