VPL vs. TLT
VPL (Vanguard FTSE Pacific ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - VPL is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific 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, VPL returned 9.50%/yr vs -2.33%/yr for TLT. Their -0.18 correlation means they have often moved in opposite directions in the past. VPL charges 0.08%/yr vs 0.15%/yr for TLT.
Performance
VPL vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, VPL achieves a 21.47% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, VPL has outperformed TLT with an annualized return of 9.50%, while TLT has yielded a comparatively lower -2.33% annualized return.
VPL
- 1D
- 0.72%
- 1M
- -1.92%
- 6M
- 11.30%
- YTD
- 21.47%
- 1Y
- 38.65%
- 3Y*
- 19.87%
- 5Y*
- 9.27%
- 10Y*
- 9.50%
- ALL TIME*
- 6.52%
TLT
- 1D
- 0.33%
- 1M
- -3.49%
- 6M
- -2.86%
- YTD
- -3.18%
- 1Y
- -2.12%
- 3Y*
- -1.15%
- 5Y*
- -8.33%
- 10Y*
- -2.33%
- ALL TIME*
- 3.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.39B | $2.06B | $2.20B | |
| $39.40M | $44.46M | $59.50M |
VPL vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VPL Vanguard FTSE Pacific ETF | 21.47% | 32.66% | 1.68% | 15.58% | -15.20% | 1.10% | 16.65% | 18.16% | -14.40% | 28.85% |
TLT iShares 20+ Year Treasury Bond ETF | -3.18% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between VPL and TLT is 0.31, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.31 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.15 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2005 | -0.18 |
The correlation between VPL and TLT shifts across timeframes, from -0.18 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VPL vs. TLT — Risk / Return Rank
VPL
TLT
VPL vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Pacific ETF (VPL) 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.
| VPL | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.87 | ||
| Sortino ratioReturn per unit of downside risk | +2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.97 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | -0.28 | +3.19 |
| Martin ratioReturn relative to average drawdown | 8.80 | -0.59 | +9.39 |
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Drawdowns
VPL vs. TLT - Drawdown Comparison
The maximum VPL drawdown since its inception was -55.49%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for VPL and TLT.
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Drawdown Indicators
| VPL | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.49% | -48.35% | -7.14% |
Max Drawdown (1Y)Largest decline over 1 year | -13.33% | -7.74% | -5.59% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -14.79% | -1.56% |
Max Drawdown (5Y)Largest decline over 5 years | -31.09% | -43.70% | +12.61% |
Max Drawdown (10Y)Largest decline over 10 years | -33.90% | -48.35% | +14.45% |
Current DrawdownCurrent decline from peak | -9.04% | -42.17% | +33.13% |
Average DrawdownAverage peak-to-trough decline | -11.59% | -14.00% | +2.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.40% | 3.60% | +0.80% |
Volatility
VPL vs. TLT - Volatility Comparison
Vanguard FTSE Pacific ETF (VPL) has a higher volatility of 9.21% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that VPL'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
| VPL | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.21% | 2.51% | +6.70% |
Volatility (6M)Calculated over the trailing 6-month period | 21.71% | 6.84% | +14.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.81% | 9.24% | +14.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.35% | 15.74% | +2.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.73% | 14.83% | +2.90% |
VPL vs. TLT - Expense Ratio Comparison
VPL has a 0.08% 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
VPL vs. TLT - Dividend Comparison
VPL's dividend yield for the trailing twelve months is around 2.76%, less 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 | 4.75% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
VPL Vanguard FTSE Pacific ETF | 2.76% | 4.01% | 3.15% | 3.12% | 2.75% | 3.19% | 1.81% | 2.84% | 3.06% | 2.57% | 2.65% | 2.43% |
Frequently Asked Questions
VPL and TLT have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPL has higher volatility (9.21%) compared to TLT (2.51%). In terms of maximum drawdown, VPL dropped -55.49% vs TLT's -48.35%.
On 10-year performance, VPL leads with 9.50% vs -2.33% for TLT. On fees, VPL is cheaper at 0.08% per year. On volatility, TLT has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VPL has performed better with a 9.50% return vs -2.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VPL is cheaper with a 0.08% expense ratio, compared with 0.15% for TLT.
TLT has the higher dividend yield at 4.75%, compared with 2.76% for VPL.
VPL is categorized as Asia Pacific Equities, while TLT is Government Bonds. VPL tracks FTSE Developed Asia Pacific Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.08% for VPL and 0.15% for TLT.
VPL currently has the higher Sharpe Ratio (1.63 vs -0.23), 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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