Are IBB and TLT in the same category?

IBB is a thematic 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, IBB or TLT?

In the year to Oct 28, 2026, with distributions reinvested, IBB returned +37.5% and TLT −7.9%.

Which is cheaper, IBB or TLT?

TLT is cheaper, by 0.29 percentage points a year. That is about $29 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

IBB vs TLT: Differences, Returns & Fees

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Over the year to Oct 28, 2026, IBB returned +37.5% to TLT's −7.9%, and TLT charges 0.15% to IBB's 0.44%.

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Net assets on Oct 27, 2026: $11.0bn for iShares Biotechnology ETF and $47.4bn for iShares 20+ Year Treasury Bond ETF.

IBB on its own →TLT on its own →

At a glance

+37.5%

IBB total return, 1 year

−7.9%

TLT total return, 1 year

0.44%

IBB expense ratio

0.15%

TLT expense ratio

Pair scorecard

TLT costs 0.29 points a year less; their one-year returns differ by 45.4 points; TLT is 4.3 times larger.

IBB vs TLT: Differences, Returns & Fees
Measure	IBB	TLT
Return
Measure	IBB	TLT
Total return, 1 year	+37.5%	−7.9%
Drawdown
Measure	IBB	TLT
Below its high		42.6%, high on Aug 4, 2020
Benchmark
Measure	IBB	TLT
What it tracks	Biotech	ICE U.S. Treasury 20+ Year Bond Index
Cost and size
Measure	IBB	TLT
Expense ratio	0.44%	0.15%
Net assets, as of Oct 27, 2026	$11.0bn	$47.4bn
Active share vs the S&P 500	99%
Holdings
Measure	IBB	TLT
Holdings in common	0%
In the S&P 500, by weight	40%
Top ten holdings, share of the fund	50%

Holdings in common uses holdings dated Oct 27, 2026. Method

What they share

By the books each fund has filed, IBB and TLT hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first IBB TLT

Only in one fund ↓

Only in IBB

GILEAD SCIENCES 8.56%

AMGEN INC 8.20%

VERTEX PHARMACEUTICALS 7.53%

REGENERON PHARMACEUTICALS 5.64%

MODERNA 5.29%

NATERA 3.85%

ARGENX SE ADR 3.42%

ILLUMINA INC 2.93%

Only in TLT

TREASURY BOND 4.32%

TREASURY BOND 4.12%

TREASURY BOND (OLD) 4.07%

TREASURY BOND 4.02%

TREASURY BOND 3.93%

TREASURY BOND 3.92%

TREASURY BOND 3.89%

TREASURY BOND 3.88%

Check overlap with more funds →

Side by side

IBB iShares Biotechnology ETF TLT iShares 20+ Year Treasury Bond ETF

Where it sits Thematic ETF Bond ETF

Issuer iShares iShares

What it is Biotech Tracks an index of 20+ year Treasuries

Total return, 1 year +37.5% −7.9%

Its benchmark over the same days not measured −7.8% (BBLB)

Gap to its benchmark not measured −0.1 pts vs BBLB

Expense ratio 0.44% 0.15%

Holdings 245 47

Net assets, as of Oct 27, 2026 $11.0bn $47.4bn

IBB and TLT on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Alert

About each fund

IBB

By weight, 40% of IBB's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 50% of the fund across 245 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +37.5% with distributions reinvested.

TLT

TLT tracks an index of 20+ year Treasuries. Over the year to Oct 28, 2026 it returned −7.9% with distributions reinvested, against −7.8% for its benchmark, the ICE U.S. Treasury 20+ Year Bond Index. The prospectus expense ratio is 0.15% a year. It sat 42.6% below its high of Aug 4, 2020 on Oct 28, 2026.

Questions people ask

Are IBB and TLT in the same category?: IBB is a thematic 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, IBB or TLT?: In the year to Oct 28, 2026, with distributions reinvested, IBB returned +37.5% and TLT −7.9%.
Which is cheaper, IBB or TLT?: TLT is cheaper, by 0.29 percentage points a year. That is about $29 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

EDV vs IBB IBB vs VGLT IBB vs IUSB IBB vs IEF TLT vs XBI AIRR vs TLT GDX vs TLT REMX vs TLT

Where to next

IBB on its own →TLT on its own →Hold both: look the portfolio through →Rankings →IBB dividend history →IBB holdings →TLT dividend history →TLT holdings →Standards and sources →

Sources and dates

IBB and TLT filings on SEC EDGAR ↗

IBB prospectus with the expense ratio (SEC) ↗

iShares page for IBB ↗

TLT prospectus with the expense ratio (SEC) ↗

iShares page for TLT ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, IBB against TLT, data as of Oct 28, 2026. https://etfiq.com/compare/any/ibb-vs-tlt

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.