TLT vs VGLT
iShares 20+ Year Treasury Bond ETF vs Vanguard Long Term Treasury ETF
Which is better, TLT or VGLT?
Nearly the same fund. VGLT costs less.
VGLT has a lower expense ratio. VGLT led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 1.00.
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 | TLT | VGLT |
|---|---|---|
| Expense Ratio | 0.15% | 0.03%Best |
| AUM | $46.9B | $10.3B |
| Dividend Yield | 4.73% | 4.76% |
| Holdings | 48 | 102 |
| YTD Return | -4.71% | -4.46%Best |
| 1Y Return | -5.79% | -5.05%Best |
| 3Y Return (annualized) | +1.18% | +1.68%Best |
| 5Y Return (annualized) | -8.14% | -7.23%Best |
| Volatility (annualized) | 13.5% | 12.3%Best |
| Max Drawdown | -48.7% | -47.1%Best |
| $10,000 over 5 years | $6,541 | $6,871Best |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) |
| Category | Fixed Income | Fixed Income |
| Style | Long Term Government Bond | Long Term Government Bond |
| Inception | Jul 22, 2002 | Nov 19, 2009 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 24, 2009 to Sep 23, 2026 (16.8 years).
TLT vs VGLT 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 16.8 years both funds cover.
TLT vs VGLT Performance
iShares 20+ Year Treasury Bond ETF (TLT) is an ETF from iShares by BlackRock (US) and Vanguard Long Term Treasury ETF (VGLT) is an ETF from Vanguard (US). Over the past year TLT returned -5.79% while VGLT returned -5.05%. Year to date, TLT is down 4.71% versus a loss of 4.46% for VGLT.
Over three years, TLT compounded at +1.18% per year against +1.68% for VGLT; over five years the annualized figures are -8.14% and -7.23% respectively. Across the full 17-year window we track, VGLT has the edge at +0.22% annualized vs +0.16%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TLT has been the more volatile fund, with annualized monthly volatility of 13.5% compared with 12.3% for VGLT. 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 -48.7% for TLT and -47.1% for VGLT. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
TLT charges 0.15% per year while VGLT charges 0.03%. On a $10,000 position that is $15 vs $3 annually, a gap of $12 per year that compounds over a long holding period. On income, TLT currently yields 4.73% against 4.76% for VGLT.
Holdings Overlap
We hold position weights for 44 holdings in TLT and 94 in VGLT, totalling 87.6% and 89.5% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 43 positions appear in both.
43 positions in common, counted across the 44 positions we hold weights for in TLT and 94 in VGLT, against full books of 48 and 102.
Top Shared Holdings
| Stock | Weight in TLT | Weight in VGLT | Difference |
|---|---|---|---|
| T 4.75 05/15/55Treasury Bond (Otr) 4.75% May 15, 2055 | 4.51% | 2.20% | 2.31% |
| T 4.625 05/15/54U.S. Treasury Bond 4.625 05/15/2054 | 4.28% | 2.08% | 2.20% |
| T 4.75 11/15/53Us Treasury N/ 4.75 11/53 | 3.98% | 2.12% | 1.86% |
| T 4.25 02/15/54Treasury Bond 4.25 02/15/2054 | 4.04% | 2.03% | 2.01% |
| T 4.125 08/15/53Treasury Bond 4 08/15/2053 | 4.19% | 1.83% | 2.36% |
| T 4.625 02/15/55Us Treasury N/B 4.63 2055-02-15 | 3.81% | 2.15% | 1.66% |
| T 4.25 08/15/54Treasury Bond (Otr) 4.25% Aug 15, 2054 | 3.95% | 2.00% | 1.95% |
| T 4.5 11/15/54Treasury Bond (Otr) 4.5% Nov 15, 2054 | 3.80% | 2.04% | 1.76% |
| T 4.75 08/15/55Wi Treasury Sec 08/55 4.75 | 3.31% | 2.20% | 1.11% |
| T 1.875 11/15/51Government Of The United States Of America 1.875% 15-Nov-2051 | 3.80% | 1.24% | 2.56% |
You are not choosing between two funds in isolation.
Whichever of TLT and VGLT 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, TLT or VGLT?
TLT has an expense ratio of 0.15% while VGLT charges 0.03%. VGLT is the cheaper option, by $12 a year on a $10,000 investment.
Which performed better, TLT or VGLT?
Over the past year TLT returned -5.79% vs -5.05% for VGLT, so VGLT leads on 1-year performance. Over the longest common window we track (17 years), TLT annualized +0.16% vs +0.22% for VGLT. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TLT or VGLT?
TLT has been the more volatile fund at 13.5% annualized versus 12.3% for VGLT. Worst drawdown: TLT -48.7% vs VGLT -47.1%.
Should I hold both TLT and VGLT?
TLT and VGLT have a monthly-return correlation of 1.00, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, TLT or VGLT?
TLT yields 4.73% while VGLT yields 4.76%, so VGLT currently pays the higher dividend yield.
Is VGLT better than TLT?
VGLT has a lower expense ratio. VGLT led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 1.00. Which one suits a particular account depends on what it is for. This is information, not a recommendation.