Data as of Oct 28, 2026.

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IEI vs TLT: Differences, Returns & Fees

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On Aug 31, 2026 IEI's duration was 4.3 years and TLT's 15.1; both charge 0.15%.

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Net assets on Oct 27, 2026: $17.0bn for iShares 3-7 Year Treasury Bond ETF and $47.4bn for iShares 20+ Year Treasury Bond ETF.

At a glance
−1.1%
IEI total return, 1 year
−7.9%
TLT total return, 1 year
0.15%
IEI expense ratio
0.15%
TLT expense ratio

Pair scorecard

Both cost 0.15% a year; their one-year returns differ by 6.8 points; TLT is 2.8 times larger.

Points (pts) are percentage points.

IEI vs TLT: Differences, Returns & Fees
MeasureIEITLT
Return
Total return, 1 year−1.1%−7.9%
Drawdown
Below its high42.6%, high on Aug 4, 2020
Benchmark
What it tracksICE U.S. Treasury 3-7 Year Bond IndexICE U.S. Treasury 20+ Year Bond Index
Cost and size
Expense ratio0.15%0.15%
Net assets, as of Oct 27, 2026$17.0bn$47.4bn
Holdings
Holdings in common0%

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

Risk and return

Jan 19, 2007 to Oct 23, 2026 · 1,031 weekly returns
IEI TLT
Return
Total return edge Tie +71.7% +72.4%
Annualized edge Tie +2.8% +2.8%
Price return edge IEI +14.9% −7.6%
Risk
Volatility edge IEI 3.8% 14.2%
Max drawdown edge IEI −14.1% −47.8%
Risk-adjusted
Sharpe edge IEI 0.31 0.15
Sortino edge IEI 0.45 0.22
Calmar edge IEI 0.20 0.06
Reading

IEI and TLT returned about the same: +71.7% and +72.4%. IEI swung less: 3.8% to 14.2%. IEI fell less at its worst: −14.1% to −47.8%.

Full scorecard

9 measures, with how each is measured
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Risk and return: IEI vs TLT: Differences, Returns & Fees
MeasureIEITLTEdgeHow it is measured
Return
Total return+71.7%+72.4%TiePrice change plus distributions, reinvested.
Annualized+2.8%+2.8%TieTotal return as a yearly rate.
Price return+14.9%−7.6%IEIPrice change alone, distributions left out.
Risk
Volatility3.8%14.2%IEISpread of weekly returns, annualized. Lower is steadier.
Downside deviation2.6%9.9%IEILike volatility, counting only weeks below the Treasury bill rate.
Max drawdown−14.1%−47.8%IEIDeepest fall from a high to the low after it.
Risk-adjusted
Sharpe0.310.15IEIReturn above Treasury bills per unit of volatility.
Sortino0.450.22IEIReturn above Treasury bills per unit of downside deviation.
Calmar0.200.06IEIAnnualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,031 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

0%

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

0 half 100%

half

0% in common

Positions both hold · largest shared weight first IEI TLT
Only in one fund ↓
Only in IEI
U.S. Treasury Notes, due Nov 30, 2030 2.90%
U.S. Treasury Notes, due Feb 15, 2032 2.30%
U.S. Treasury Notes, due Feb 28, 2030 2.29%
U.S. Treasury Notes, due Nov 15, 2031 2.26%
U.S. Treasury Notes, due Aug 31, 2030 2.24%
U.S. Treasury Notes, due May 15, 2033 2.17%
U.S. Treasury Notes, due Aug 15, 2031 2.11%
U.S. Treasury Notes, due Feb 15, 2033 2.10%
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%
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Side by side

IEI iShares 3-7 Year Treasury Bond ETF TLT iShares 20+ Year Treasury Bond ETF
Where it sits Bond ETF Bond ETF
What it is Tracks an index of 3-7 Year Treasury Bond Tracks an index of 20+ year Treasuries
Total return, 1 year −1.1% −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 82 47
Net assets, as of Oct 27, 2026 $17.0bn $47.4bn

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

Client brief · page 1 of 2 Report BR-C1AEC9372A

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

  1. What each follows. IEI follows ICE U.S. Treasury 3-7 Year Bond Index and TLT follows ICE U.S. Treasury 20+ Year Bond Index.
  2. Holdings in common. 0% of the weight is in the same securities (holdings dated Aug 31, 2026).
  3. One-year total return. Over 1 year to Oct 28, 2026 IEI returned −1.1% and TLT −7.9% with distributions reinvested, a gap of 6.8 points.

Data as of Oct 28, 2026.

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About each fund
IEI

IEI tracks an index of 3-7 Year Treasury Bond. Over the year to Oct 28, 2026 it returned −1.1% with distributions reinvested. The prospectus expense ratio is 0.15% a year.

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, IEI or TLT?
In the year to Oct 28, 2026, with distributions reinvested, IEI returned −1.1% and TLT −7.9%.
Which is cheaper, IEI or TLT?
Neither: IEI and TLT both charge 0.15% a year. Fees come from each fund's prospectus.
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ETFIQ, IEI against TLT, data as of Oct 28, 2026. https://etfiq.com/compare/any/iei-vs-tlt

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