TLH — iShares 10-20 Year Treasury Bond ETF

TLH Price Performance — Growth of $10,000

Value of a $10,000 investment in TLH over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

TLH Drawdown

The "underwater" chart: TLH's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares 10-20 Year Treasury Bond ETF is a US Government bond fund issued by iShares with $11.0 billion in assets under management. It holds an overall rank of #376 out of 458 tracked ETFs and sits at #18 within its specific category of 22 funds. The fund carries an ETFValuer grade of C, reflecting a score of 51.0 out of 100. Its expense ratio of 0.15% is more than double the category median of 0.07%, while its dividend yield of 4.59% significantly exceeds the category median of 3.84%. The top ten holdings represent 37.5% of assets, with the largest single position being the United States of America at 5.5%.

The fund's price of $96.61 sits at the lower end of its 52-week range, representing only 8.0% of the distance between its low of $95.84 and high of $105.47. Short-term performance shows a slight decline over the past week at -0.32%, contrasting with a modest gain of +0.16% over the last month. Over the longer term, the three-year return stands at +6.07%, whereas the one-year return of -0.36% trails the category median of +0.33%. The ETFValuer grade has remained unchanged at C across the last 35 tracked days. Historical price data is available for only 3.0 years, limiting the depth of long-term trend analysis.

With a beta of 2.00, the fund exhibits high sensitivity to market movements compared to the broader market. Annualized volatility is recorded at 7.68%, which is labeled as Very Low, yet the Sharpe ratio of -0.70 indicates poor risk-adjusted returns. The maximum drawdown of -11.67% highlights the extent of recent losses from peak values. Liquidity is supported by an average daily volume of 996,825 shares, though the bid/ask spread of 1.02% suggests moderate trading costs. These metrics collectively describe a fund that has experienced significant volatility relative to its income generation.

AI-generated summary based on the data on this page.

TLH Top Holdings

Holdings as of 2026-05-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 37.5% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how TLH's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With TLH

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with TLH's top 10 — SGOV overlaps most, holding 1 of the same companies as TLH's top 10 (37.5% of TLH's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.77% (as of 2026-09-03) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 14.32 (as of 2026-09-03) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

TLH Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 1.02% and average daily volume is 997K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $11.0B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: TLH is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

TLH Performance History

How TLH Compares to Other US Bonds - Government ETFs