Data as of Nov 4, 2026.
ASMF vs TLT: Differences, Returns & Fees
Over the year to Nov 4, 2026, ASMF returned +13.2% to TLT's −4.8%, and TLT charges 0.15% to ASMF's 0.80%.
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Net assets: $30m on Jul 31, 2026 for Virtus AlphaSimplex Managed Futures ETF, and $48.3bn on Nov 3, 2026 for iShares 20+ Year Treasury Bond ETF.
Pair scorecard
TLT costs 0.65 points a year less; their one-year returns differ by 18.0 points.
| Measure | ASMF | TLT |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.2% | −4.8% |
| Total return, 52 weeks | +12.9% | |
| Drawdown | ||
| Below its high | 41.8%, high on Aug 4, 2020 | |
| Against its benchmark | ||
| What it tracks | not published | ICE U.S. Treasury 20+ Year Bond Index |
| Treasury bills, 52 weeks | +3.7% | |
| Against cash | 9.2 points ahead | |
| Cost and size | ||
| Expense ratio | 0.80% | 0.15% |
| Net assets, ASMF as of Jul 31, 2026 and TLT as of Nov 3, 2026 | $30m | $48.3bn |
| Holdings | ||
| Holdings in common | not published | |
| Risk | ||
| Correlation with the S&P 500’s weekly returns | +0.40 | |
| Beta to the S&P 500 | +0.32: about 0.32% for each 1% | |
| Its average week when the S&P 500 fell | fell 0.49% | |
| Down-week capture | 45.9% | |
| Weeks the S&P 500 fell | 26 of 52, by 1.07% on average | |
Side by side
ASMF and TLT on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.
ASMF
ASMF is a managed futures fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.40 with the S&P 500’s and a beta of +0.32, so for each 1% the index moved it moved about 0.32% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks ASMF fell 0.49% on average, a down-week capture of 45.9%. Over the same 52 weeks ASMF returned +12.9% and a Treasury bill fund +3.7%, so it finished 9.2 percentage points ahead of cash.
TLT
TLT tracks an index of 20+ year Treasuries. Over the year to Nov 4, 2026 it returned −4.8% with distributions reinvested, against −4.7% for its benchmark, the ICE U.S. Treasury 20+ Year Bond Index. The prospectus expense ratio is 0.15% a year. It sat 41.8% below its high of Aug 4, 2020 on Nov 4, 2026.
Questions people ask
- Are ASMF and TLT in the same category?
- ASMF is an alternatives ETF and TLT is a bond ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, ASMF or TLT?
- In the year to Nov 4, 2026, with distributions reinvested, ASMF returned +13.2% and TLT −4.8%.
- Which is cheaper, ASMF or TLT?
- TLT is cheaper, by 0.65 percentage points a year. That is about $65 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, ASMF against TLT, data as of Nov 4, 2026. https://etfiq.com/compare/any/asmf-vs-tlt
ETFIQ. (Nov 4, 2026). ASMF against TLT. Retrieved from https://etfiq.com/compare/any/asmf-vs-tlt
[ASMF against TLT (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/any/asmf-vs-tlt)
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