WOOD vs. TLT
WOOD (iShares Global Timber & Forestry ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - WOOD is a Materials fund tracking the S&P Global Timber & Forestry 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, WOOD returned 5.67%/yr vs -2.13%/yr for TLT. At a correlation of -0.21, they often move in opposite directions. WOOD charges 0.46%/yr vs 0.15%/yr for TLT.
Performance
WOOD vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, WOOD achieves a -3.36% return, which is significantly lower than TLT's -1.19% return. Over the past 10 years, WOOD has outperformed TLT with an annualized return of 5.67%, while TLT has yielded a comparatively lower -2.13% annualized return.
WOOD
- 1D
- 1.08%
- 1M
- 1.17%
- 6M
- -9.34%
- YTD
- -3.36%
- 1Y
- -4.61%
- 3Y*
- -0.61%
- 5Y*
- -2.45%
- 10Y*
- 5.67%
TLT
- 1D
- -0.04%
- 1M
- -1.94%
- 6M
- -2.48%
- YTD
- -1.19%
- 1Y
- 3.43%
- 3Y*
- -1.99%
- 5Y*
- -7.58%
- 10Y*
- -2.13%
WOOD vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WOOD iShares Global Timber & Forestry ETF | -3.36% | -3.27% | -4.21% | 13.84% | -19.39% | 17.03% | 20.36% | 19.75% | -17.73% | 34.49% |
TLT iShares 20+ Year Treasury Bond ETF | -1.19% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between WOOD and TLT is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2008 | -0.21 |
The correlation between WOOD and TLT shifts across timeframes, from -0.21 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WOOD vs. TLT — Risk / Return Rank
WOOD
TLT
WOOD vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Timber & Forestry ETF (WOOD) 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.
| WOOD | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.07 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 0.45 | -0.67 |
| Martin ratioReturn relative to average drawdown | -0.42 | 1.04 | -1.45 |
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Drawdowns
WOOD vs. TLT - Drawdown Comparison
The maximum WOOD drawdown since its inception was -63.25%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for WOOD and TLT.
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Drawdown Indicators
| WOOD | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.25% | -48.35% | -14.90% |
Max Drawdown (1Y)Largest decline over 1 year | -21.64% | -7.58% | -14.06% |
Max Drawdown (3Y)Largest decline over 3 years | -22.79% | -18.88% | -3.91% |
Max Drawdown (5Y)Largest decline over 5 years | -30.71% | -43.70% | +12.99% |
Max Drawdown (10Y)Largest decline over 10 years | -50.20% | -48.35% | -1.85% |
Current DrawdownCurrent decline from peak | -21.39% | -40.99% | +19.60% |
Average DrawdownAverage peak-to-trough decline | -14.82% | -13.94% | -0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.08% | 3.31% | +7.77% |
Volatility
WOOD vs. TLT - Volatility Comparison
iShares Global Timber & Forestry ETF (WOOD) has a higher volatility of 4.88% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.59%. This indicates that WOOD'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
| WOOD | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.88% | 2.59% | +2.29% |
Volatility (6M)Calculated over the trailing 6-month period | 14.36% | 6.79% | +7.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.70% | 9.35% | +9.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.73% | 15.78% | +3.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.71% | 14.83% | +6.88% |
WOOD vs. TLT - Expense Ratio Comparison
WOOD has a 0.46% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
WOOD vs. TLT - Dividend Comparison
WOOD's dividend yield for the trailing twelve months is around 2.44%, less than TLT's 4.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 4.64% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
WOOD iShares Global Timber & Forestry ETF | 2.44% | 2.51% | 2.09% | 1.64% | 2.26% | 1.24% | 0.98% | 1.85% | 2.82% | 1.19% | 1.65% | 2.04% |
Frequently Asked Questions
WOOD and TLT have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WOOD has higher volatility (4.88%) compared to TLT (2.59%). In terms of maximum drawdown, WOOD dropped -63.25% vs TLT's -48.35%.
On 10-year performance, WOOD leads with 5.67% vs -2.13% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, WOOD has performed better with a 5.67% return vs -2.13%. 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 0.46% for WOOD.
TLT has the higher dividend yield at 4.64%, compared with 2.44% for WOOD.
WOOD is categorized as Materials, while TLT is Government Bonds. WOOD tracks S&P Global Timber & Forestry Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.46% for WOOD and 0.15% for TLT.
TLT currently has the higher Sharpe Ratio (0.37 vs -0.25), 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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