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 5.20%/yr vs -1.66%/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 -6.95% return, which is significantly lower than TLT's -0.27% return. Over the past 10 years, WOOD has outperformed TLT with an annualized return of 5.20%, while TLT has yielded a comparatively lower -1.66% annualized return.
WOOD
- 1D
- -0.73%
- 1M
- -0.81%
- YTD
- -6.95%
- 6M
- -3.23%
- 1Y
- -6.85%
- 3Y*
- -0.20%
- 5Y*
- -3.93%
- 10Y*
- 5.20%
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%
WOOD vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WOOD iShares Global Timber & Forestry ETF | -6.95% | -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 | -0.27% | 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 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2008 | -0.21 |
The correlation between WOOD and TLT shifts across timeframes, from -0.21 (all time) to 0.36 (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.
| WOOD | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.20 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.09 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 0.65 | -0.97 |
| Martin ratioReturn relative to average drawdown | -0.74 | 1.63 | -2.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WOOD | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.37 | 0.51 | -0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | -0.40 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | -0.11 | +0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.26 | -0.10 |
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% | -19.18% | -3.61% |
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 | -24.31% | -40.44% | +16.13% |
Average DrawdownAverage peak-to-trough decline | -14.76% | -13.82% | -0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.27% | 3.04% | +6.23% |
Volatility
WOOD vs. TLT - Volatility Comparison
iShares Global Timber & Forestry ETF (WOOD) has a higher volatility of 5.70% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. 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 | 5.70% | 2.76% | +2.94% |
Volatility (6M)Calculated over the trailing 6-month period | 13.96% | 6.50% | +7.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.70% | 9.77% | +8.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.72% | 15.87% | +3.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.87% | 14.91% | +6.96% |
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 2.69%, less than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WOOD iShares Global Timber & Forestry ETF | 2.69% | 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 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WOOD has higher volatility (5.70%) compared to TLT (2.76%). In terms of maximum drawdown, WOOD dropped -63.25% vs TLT's -48.35%.
On 10-year performance, WOOD leads with 5.20% vs -1.66% for TLT. On fees, TLT is cheaper at 0.15% per year. 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, WOOD has performed better with a 5.20% return vs -1.66%. 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 4.59%, compared with 2.69% 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 (0.51 vs -0.37), 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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