TLT — iShares 20+ Year Treasury Bond ETF

Overview

The iShares 20+ Year Treasury Bond ETF (TLT) operates within the US Bonds - Government category, where ETFValuer tracks a total of six funds. Issued by iShares, this fund has accumulated assets under management of $41.1 billion and currently trades at a price of $84.36. It holds an overall rank of #117 out of 120 tracked ETFs across all categories and has received an ETFValuer grade of D with a score of 45.1 out of 100. The fund charges an expense ratio of 0.15% and offers a dividend yield of 2.55%. The substantial asset size and relatively low cost structure suggest significant investor adoption despite the fund's lower overall ranking. These metrics collectively define the fund's position as a large-cap government bond vehicle with a modest income profile relative to its broad market standing.

Recent performance data shows a decline over the last day at -0.22% and a sharper drop over one week of -2.02%. The one-month return stands at -0.46%, while the three-month period reflects a -1.91% loss. Over the six-month horizon, the fund recorded a -1.74% return, and year-to-date performance is currently at -1.26%. In contrast, the one-year return shows a positive shift of +2.00%, though the three-year annualized return remains negative at -6.55%. This pattern indicates a divergence where short-term and medium-term results have been negative, while the one-year figure briefly turned positive before the three-year trend dragged the long-term average down.

The fund carries a volatility label of Low but exhibits a high beta of 2.40, indicating significant sensitivity to market movements relative to its benchmark. A Sharpe ratio of -0.32 suggests that the returns generated have not adequately compensated investors for the risk taken during the measured period. The maximum drawdown recorded is -18.88%, highlighting the potential for substantial capital erosion during market downturns. This combination of a low volatility label with a high beta and negative risk-adjusted return implies the fund may experience amplified swings that do not align with its classification. The data suggests the fund behaves with considerable downside risk in down markets while failing to generate sufficient excess returns in up markets to offset those losses.

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

TLT Top Holdings

Holdings as of 2026-02-28 per the fund's most recent SEC N-PORT-P filing.

Market Backdrop

10-Year Treasury Yield: 4.55% (as of 2026-07-07) — 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): 16.13 (as of 2026-07-07) — 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 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

TLT Performance History

How TLT Compares to Other US Bonds - Government ETFs