IVV vs TLT
iShares Core S&P 500 ETF vs iShares 20+ Year Treasury Bond ETF
Which is better, IVV or TLT?
Large Cap Blend against Long Term Government Bond.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IVV | TLT |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.15% |
| AUM | $876.4B | $46.9B |
| Dividend Yield | 1.06% | 4.73% |
| Holdings | 508 | 48 |
| YTD Return | +12.51%Best | -4.22% |
| 1Y Return | +17.57%Best | -6.38% |
| 3Y Return (annualized) | +21.27%Best | -0.49% |
| 5Y Return (annualized) | +12.95%Best | -8.17% |
| Volatility (annualized) | 14.7% | 13.3%Best |
| Max Drawdown | -56.5% | -48.7%Best |
| $10,000 over 5 years | $18,384Best | $6,530 |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | Long Term Government Bond |
| Inception | May 15, 2000 | Jul 22, 2002 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jul 26, 2002 to Sep 11, 2026 (24.1 years).
IVV vs TLT growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 24.1 years both funds cover.
IVV vs TLT Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and iShares 20+ Year Treasury Bond ETF (TLT) is an ETF from iShares by BlackRock (US). Over the past year IVV returned +17.57% while TLT returned -6.38%. Year to date, IVV is up 12.51% versus a loss of 4.22% for TLT.
Over three years, IVV compounded at +21.27% per year against -0.49% for TLT; over five years the annualized figures are +12.95% and -8.17% respectively. Across the full 24-year window we track, IVV has the edge at +9.86% annualized vs +0.74%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 14.7% compared with 13.3% for TLT. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -48.7% for TLT. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.10. They move largely independently of each other.
Fees and Cost Over Time
IVV charges 0.03% per year while TLT charges 0.15%. On a $10,000 position that is $3 vs $15 annually, a gap of $12 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 4.73% for TLT.
Holdings Overlap
At least 0.2% of IVV's money is in holdings TLT also owns.
Stated as a floor: for TLT, our book for it covers 87.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 505 positions we hold weights for in IVV and 44 in TLT, against full books of 508 and 48.
Top Shared Holdings
| Stock | Weight in IVV | Weight in TLT | Difference |
|---|---|---|---|
| XTSLABlackrock Cash Funds: Treasury, Sl Agency Shares | 0.18% | 1.09% | 0.91% |
You are not choosing between two funds in isolation.
Whichever of IVV and TLT you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or TLT?
IVV has an expense ratio of 0.03% while TLT charges 0.15%. IVV is the cheaper option, by $12 a year on a $10,000 investment.
Which performed better, IVV or TLT?
Over the past year IVV returned +17.57% vs -6.38% for TLT, so IVV leads on 1-year performance. Over the longest common window we track (24 years), IVV annualized +9.86% vs +0.74% for TLT. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or TLT?
IVV has been the more volatile fund at 14.7% annualized versus 13.3% for TLT. Worst drawdown: IVV -56.5% vs TLT -48.7%.
Should I hold both IVV and TLT?
IVV and TLT have a monthly-return correlation of -0.10, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IVV or TLT?
IVV yields 1.06% while TLT yields 4.73%, so TLT currently pays the higher dividend yield.
Is TLT better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.