Which returned more over the last year, IEF or TLT?

In the year to Oct 28, 2026, with distributions reinvested, IEF returned −3.2% and TLT −7.9%.

Which is cheaper, IEF or TLT?

Neither: IEF and TLT both charge 0.15% a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

IEF vs TLT: Differences, Returns & Fees

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On Aug 31, 2026 IEF's duration was 7.0 years and TLT's 15.1; both charge 0.15%.

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Net assets on Oct 27, 2026: $43.5bn for iShares 7-10 Year Treasury Bond ETF and $47.4bn for iShares 20+ Year Treasury Bond ETF.

IEF on its own →TLT on its own →

At a glance

−3.2%

IEF total return, 1 year

−7.9%

TLT total return, 1 year

0.15%

IEF expense ratio

0.15%

TLT expense ratio

Pair scorecard

Both cost 0.15% a year; their one-year returns differ by 4.7 points; TLT is 1.1 times larger.

Points (pts) are percentage points.

IEF vs TLT: Differences, Returns & Fees
Measure	IEF	TLT
Return
Measure	IEF	TLT
Total return, 1 year	−3.2%	−7.9%
Drawdown
Measure	IEF	TLT
Below its high	13.1%, high on Aug 4, 2020	42.6%, high on Aug 4, 2020
Benchmark
Measure	IEF	TLT
What it tracks	ICE U.S. Treasury 7-10 Year Bond Index	ICE U.S. Treasury 20+ Year Bond Index
Cost and size
Measure	IEF	TLT
Expense ratio	0.15%	0.15%
Net assets, as of Oct 27, 2026	$43.5bn	$47.4bn
Holdings
Measure	IEF	TLT
Holdings in common	0%

Holdings in common uses holdings dated Aug 31, 2026. Method

Risk and return

Aug 2, 2002 to Oct 23, 2026 · 1,264 weekly returns

IEF TLT

Return

Total return edge TLT (slight) +116.1% +123.8%

Annualized edge TLT (slight) +3.2% +3.4%

Price return edge IEF +9.0% −3.0%

Risk

Volatility edge IEF 6.4% 13.4%

Max drawdown edge IEF −23.3% −47.8%

Risk-adjusted

Sharpe edge IEF 0.25 0.18

Sortino edge IEF 0.35 0.26

Calmar edge IEF 0.14 0.07

Reading

TLT returned slightly more: +123.8% to +116.1%. IEF swung less: 6.4% to 13.4%. IEF fell less at its worst: −23.3% to −47.8%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: IEF vs TLT: Differences, Returns & Fees
Measure	IEF	TLT	Edge	How it is measured
Return
Total return	+116.1%	+123.8%	TLT (slight)	Price change plus distributions, reinvested.
Annualized	+3.2%	+3.4%	TLT (slight)	Total return as a yearly rate.
Price return	+9.0%	−3.0%	IEF	Price change alone, distributions left out.
Risk
Volatility	6.4%	13.4%	IEF	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	4.6%	9.5%	IEF	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−23.3%	−47.8%	IEF	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.25	0.18	IEF	Return above Treasury bills per unit of volatility.
Sortino	0.35	0.26	IEF	Return above Treasury bills per unit of downside deviation.
Calmar	0.14	0.07	IEF	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,264 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, IEF and TLT hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first IEF TLT

Only in one fund ↓

Only in IEF

U.S. Treasury Notes, due Feb 15, 2036 9.31%

U.S. Treasury Notes, due Feb 15, 2035 8.74%

U.S. Treasury Notes, due Nov 15, 2034 8.63%

U.S. Treasury Notes, due Nov 15, 2035 8.52%

U.S. Treasury Notes, due May 15, 2034 8.31%

U.S. Treasury Notes, due Aug 15, 2035 8.25%

U.S. Treasury Notes, due May 15, 2035 8.21%

U.S. Treasury Notes, due Feb 15, 2034 8.12%

Only in TLT

U.S. Treasury Bonds, due May 15, 2055 4.46%

U.S. Treasury Bonds, due May 15, 2054 4.40%

U.S. Treasury Bonds, due Aug 15, 2053 4.18%

U.S. Treasury Bonds, due Feb 15, 2054 4.03%

U.S. Treasury Bonds, due Feb 15, 2056 3.94%

U.S. Treasury Bonds, due Aug 15, 2054 3.94%

U.S. Treasury Bonds, due Nov 15, 2053 3.92%

U.S. Treasury Bonds, due Feb 15, 2055 3.80%

Check overlap with more funds →

Side by side

IEF iShares 7-10 Year Treasury Bond ETF TLT iShares 20+ Year Treasury Bond ETF

Where it sits Bond ETF Bond ETF

Issuer iShares iShares

What it is Tracks an index of 7-10 Year Treasury Bond Tracks an index of 20+ year Treasuries

Total return, 1 year −3.2% −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 0.15% 0.15%

Holdings 17 47

Net assets, as of Oct 27, 2026 $43.5bn $47.4bn

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

Client brief · page 1 of 2 Report BR-71E4AF0C43

IEF and TLT do different jobs. What does each one do in a portfolio?

What each follows. IEF follows ICE U.S. Treasury 7-10 Year Bond Index and TLT follows ICE U.S. Treasury 20+ Year Bond Index.
Holdings in common. 0% of the weight is in the same securities (holdings dated Aug 31, 2026).
One-year total return. Over 1 year to Oct 28, 2026 IEF returned −3.2% and TLT −7.9% with distributions reinvested, a gap of 4.7 points.

Data as of Oct 28, 2026.

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About each fund

IEF

IEF tracks an index of 7-10 Year Treasury Bond. Over the year to Oct 28, 2026 it returned −3.2% with distributions reinvested. The prospectus expense ratio is 0.15% a year. It sat 13.1% below its high of Aug 4, 2020 on Oct 28, 2026.

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. It sat 42.6% below its high of Aug 4, 2020 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, IEF or TLT?: In the year to Oct 28, 2026, with distributions reinvested, IEF returned −3.2% and TLT −7.9%.
Which is cheaper, IEF or TLT?: Neither: IEF and TLT both charge 0.15% a year. Fees come from each fund's prospectus.

Other comparisons

IEF vs VGLT EDV vs IEF IEF vs MBB IEF vs JNK TLT vs VGIT GOVT vs TLT JAAA vs TLT TLT vs VCIT

Where to next

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

Sources and dates

IEF and TLT filings on SEC EDGAR ↗

IEF and TLT prospectus with the expense ratio (SEC) ↗

iShares page for IEF ↗

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

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