Data as of Oct 28, 2026.
IEF vs TLT: Differences, Returns & Fees
On Aug 31, 2026 IEF's duration was 7.0 years and TLT's 15.1; both charge 0.15%.
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askIQ about IEF and TLTNet 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.
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.
| Measure | IEF | TLT |
|---|---|---|
| Return | ||
| Total return, 1 year | −3.2% | −7.9% |
| Drawdown | ||
| Below its high | 13.1%, high on Aug 4, 2020 | 42.6%, high on Aug 4, 2020 |
| Benchmark | ||
| What it tracks | ICE U.S. Treasury 7-10 Year Bond Index | ICE U.S. Treasury 20+ Year Bond Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.15% |
| Net assets, as of Oct 27, 2026 | $43.5bn | $47.4bn |
| Holdings | ||
| 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 returnsTLT 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 ↓
| 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.
half
0% in common
Only in one fund ↓
Side by side
IEF and TLT on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
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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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
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
ETFIQ. (Oct 28, 2026). IEF against TLT. Retrieved from https://etfiq.com/compare/any/ief-vs-tlt
[IEF against TLT (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/ief-vs-tlt)
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