VLUE vs. TLT

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Edge MSCI USA Value Factor ETF (VLUE) and iShares 20+ Year Treasury Bond ETF (TLT).

VLUE and TLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VLUE is a passively managed fund by iShares that tracks the performance of the MSCI USA Value Weighted Index. It was launched on Apr 16, 2013. 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. Both VLUE and TLT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

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.

VLUE vs. TLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLUE iShares Edge MSCI USA Value Factor ETF	4.44%	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	0.17%	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, VLUE achieves a 4.44% return, which is significantly higher than TLT's 0.17% return. Over the past 10 years, VLUE has outperformed TLT with an annualized return of 11.61%, while TLT has yielded a comparatively lower -1.38% annualized return.

VLUE

• 1D: 2.68%
• 1M: -5.29%
• YTD: 4.44%
• 6M: 14.88%
• 1Y: 36.35%
• 3Y*: 18.33%
• 5Y*: 9.45%
• 10Y*: 11.61%

TLT

• 1D: -0.10%
• 1M: -4.23%
• YTD: 0.17%
• 6M: -0.87%
• 1Y: -0.49%
• 3Y*: -2.78%
• 5Y*: -5.85%
• 10Y*: -1.38%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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%.

VLUE

iShares Edge MSCI USA Value Factor ETF

TLT

iShares 20+ Year Treasury Bond ETF

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: 90
VLUE Sharpe Ratio Rank: 89
VLUE Sortino Ratio Rank: 90
VLUE Omega Ratio Rank: 89
VLUE Calmar Ratio Rank: 90
VLUE Martin Ratio Rank: 92

TLT

TLT Risk / Return Rank: 12
TLT Sharpe Ratio Rank: 11
TLT Sortino Ratio Rank: 10
TLT Omega Ratio Rank: 10
TLT Calmar Ratio Rank: 14
TLT Martin Ratio Rank: 13

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.

	VLUE	TLT	Difference
Sharpe ratio Return per unit of total volatility	1.87	-0.04	+1.91
Sortino ratio Return per unit of downside risk	2.52	0.02	+2.50
Omega ratio Gain probability vs. loss probability	1.36	1.00	+0.36
Calmar ratio Return relative to maximum drawdown	2.92	0.05	+2.87
Martin ratio Return relative to average drawdown	12.74	0.11	+12.63
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 1.87, which is higher than the TLT Sharpe Ratio of -0.04. The chart below compares the historical Sharpe Ratios of VLUE and TLT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VLUE	TLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	-0.04	+1.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	-0.37	+0.92
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	-0.09	+0.69
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.26	+0.35

Correlation

The correlation between VLUE and TLT is -0.19. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

VLUE vs. TLT - Dividend Comparison

VLUE's dividend yield for the trailing twelve months is around 2.00%, less than TLT's 4.49% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VLUE iShares Edge MSCI USA Value Factor ETF	2.00%	2.11%	2.73%	2.66%	3.18%	2.22%	2.42%	2.61%	2.70%	2.14%	2.07%	2.39%
TLT iShares 20+ Year Treasury Bond ETF	4.49%	4.43%	4.30%	3.38%	2.67%	1.50%	1.50%	2.27%	2.63%	2.43%	2.60%	2.61%

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.

Drawdown Indicators

	VLUE	TLT	Difference
Max Drawdown Largest peak-to-trough decline	-39.47%	-48.35%	+8.88%
Max Drawdown (1Y) Largest decline over 1 year	-12.81%	-9.23%	-3.58%
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	-6.60%	-40.17%	+33.57%
Average Drawdown Average peak-to-trough decline	-6.08%	-13.62%	+7.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	4.38%	-1.44%

Volatility

VLUE vs. TLT - Volatility Comparison

iShares Edge MSCI USA Value Factor ETF (VLUE) has a higher volatility of 6.26% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 3.71%. 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.

Volatility by Period

	VLUE	TLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	3.71%	+2.55%
Volatility (6M) Calculated over the trailing 6-month period	12.28%	6.61%	+5.67%
Volatility (1Y) Calculated over the trailing 1-year period	19.55%	11.44%	+8.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	15.90%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.61%	14.93%	+4.68%