XT vs. TLT
XT (iShares Future Exponential Technologies ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - XT is a Technology Equities fund tracking the Morningstar Exponential Technologies Index (Net), 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, XT returned 13.72%/yr vs -2.33%/yr for TLT. Their -0.07 correlation means they have often moved in opposite directions in the past. XT charges 0.46%/yr vs 0.15%/yr for TLT.
Performance
XT vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, XT achieves a 15.68% return, which is significantly higher than TLT's -3.18% return. Over the past 10 years, XT has outperformed TLT with an annualized return of 13.72%, while TLT has yielded a comparatively lower -2.33% annualized return.
XT
- 1D
- 0.94%
- 1M
- -2.33%
- 6M
- 11.05%
- YTD
- 15.68%
- 1Y
- 33.19%
- 3Y*
- 16.27%
- 5Y*
- 6.52%
- 10Y*
- 13.72%
- ALL TIME*
- 12.32%
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 | |
| $6.36M | $6.26M | $10.28M |
XT vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XT iShares Future Exponential Technologies ETF | 15.68% | 26.28% | 0.29% | 27.02% | -27.83% | 16.43% | 35.10% | 30.74% | -4.93% | 33.71% |
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 XT and TLT is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
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 24, 2015 | -0.07 |
The correlation between XT and TLT shifts across timeframes, from -0.07 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XT vs. TLT — Risk / Return Rank
XT
TLT
XT vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Future Exponential Technologies ETF (XT) 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.
| XT | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.11 | ||
| Sortino ratioReturn per unit of downside risk | +2.80 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.97 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | -0.28 | +3.47 |
| Martin ratioReturn relative to average drawdown | 11.45 | -0.59 | +12.05 |
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Drawdowns
XT vs. TLT - Drawdown Comparison
The maximum XT drawdown since its inception was -34.41%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for XT and TLT.
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Drawdown Indicators
| XT | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.41% | -48.35% | +13.94% |
Max Drawdown (1Y)Largest decline over 1 year | -10.45% | -7.74% | -2.71% |
Max Drawdown (3Y)Largest decline over 3 years | -22.09% | -14.79% | -7.30% |
Max Drawdown (5Y)Largest decline over 5 years | -34.41% | -43.70% | +9.29% |
Max Drawdown (10Y)Largest decline over 10 years | -34.41% | -48.35% | +13.94% |
Current DrawdownCurrent decline from peak | -4.22% | -42.17% | +37.95% |
Average DrawdownAverage peak-to-trough decline | -7.35% | -14.00% | +6.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 3.60% | -0.70% |
Volatility
XT vs. TLT - Volatility Comparison
iShares Future Exponential Technologies ETF (XT) has a higher volatility of 5.03% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.51%. This indicates that XT'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
| XT | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.03% | 2.51% | +2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 14.41% | 6.84% | +7.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.83% | 9.24% | +8.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.09% | 15.74% | +5.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.13% | 14.83% | +5.30% |
XT vs. TLT - Expense Ratio Comparison
XT has a 0.46% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
XT vs. TLT - Dividend Comparison
XT's dividend yield for the trailing twelve months is around 7.08%, more 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% |
XT iShares Future Exponential Technologies ETF | 7.08% | 7.95% | 0.66% | 0.41% | 0.78% | 0.84% | 0.77% | 1.55% | 1.40% | 0.97% | 1.37% | 1.34% |
Frequently Asked Questions
XT and TLT have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XT has higher volatility (5.03%) compared to TLT (2.51%). In terms of maximum drawdown, XT dropped -34.41% vs TLT's -48.35%.
On 10-year performance, XT leads with 13.72% vs -2.33% for TLT. On fees, TLT is cheaper at 0.15% 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, XT has performed better with a 13.72% return vs -2.33%. 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 XT.
XT has the higher dividend yield at 7.08%, compared with 4.75% for TLT.
XT is categorized as Technology Equities, while TLT is Government Bonds. XT tracks Morningstar Exponential Technologies Index (Net), while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.46% for XT and 0.15% for TLT.
XT currently has the higher Sharpe Ratio (1.87 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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