Are LSEQ and TLT in the same category?

LSEQ 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, LSEQ or TLT?

In the year to Nov 4, 2026, with distributions reinvested, LSEQ returned +26.5% and TLT −4.8%.

Which is cheaper, LSEQ or TLT?

TLT is cheaper, by 2.13 percentage points a year. That is about $213 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Across categories

LSEQ vs TLT: Differences, Returns & Fees

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Over the year to Nov 4, 2026, LSEQ returned +26.5% to TLT's −4.8%, and TLT charges 0.15% to LSEQ's 2.28%.

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Net assets on Nov 3, 2026: $17m for Harbor Long-Short Equity ETF and $48.3bn for iShares 20+ Year Treasury Bond ETF.

LSEQ on its own →TLT on its own →

At a glance

+26.5%

LSEQ total return, 1 year

−4.8%

TLT total return, 1 year

2.28%

LSEQ expense ratio

0.15%

TLT expense ratio

Pair scorecard

TLT costs 2.13 points a year less; their one-year returns differ by 31.3 points; TLT is far larger, $48.3bn against $17m.

LSEQ vs TLT: Differences, Returns & Fees
Measure	LSEQ	TLT
Return
Measure	LSEQ	TLT
Total return, 1 year	+26.5%	−4.8%
Total return, 52 weeks	+24.5%
Drawdown
Measure	LSEQ	TLT
Below its high		41.8%, high on Aug 4, 2020
Against its benchmark
Measure	LSEQ	TLT
What it tracks	not published	ICE U.S. Treasury 20+ Year Bond Index
Treasury bills, 52 weeks	+3.7%
Against cash	20.8 points ahead
Cost and size
Measure	LSEQ	TLT
Expense ratio	2.28%	0.15%
Net assets, as of Nov 3, 2026	$17m	$48.3bn
Holdings
Measure	LSEQ	TLT
Holdings in common	not published
Risk
Measure	LSEQ	TLT
Correlation with the S&P 500’s weekly returns	+0.18
Beta to the S&P 500	+0.24: about 0.24% for each 1%
Its average week when the S&P 500 fell	fell 0.27%
Down-week capture	24.8%
Weeks the S&P 500 fell	26 of 52, by 1.07% on average

Method

Side by side

LSEQ Harbor Long-Short Equity ETF TLT iShares 20+ Year Treasury Bond ETF

Where it sits Alternatives ETF Bond ETF

Issuer Harbor iShares

What it is Long-short equity Tracks an index of 20+ year Treasuries

Total return, 1 year +26.5% −4.8%

Its benchmark over the same days not measured −4.7% (BBLB)

Gap to its benchmark not measured −0.1 pts vs BBLB

Expense ratio 2.28% 0.15%

Holdings not read by ETFIQ 47

Net assets, as of Nov 3, 2026 $17m $48.3bn

LSEQ and TLT on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.

Alert

About each fund

LSEQ

LSEQ is a long-short equity 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 +0.18 with the S&P 500’s and a beta of +0.24, so for each 1% the index moved it moved about 0.24% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks LSEQ fell 0.27% on average, a down-week capture of 24.8%. Over the same 52 weeks LSEQ returned +24.5% and a Treasury bill fund +3.7%, so it finished 20.8 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 LSEQ and TLT in the same category?: LSEQ 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, LSEQ or TLT?: In the year to Nov 4, 2026, with distributions reinvested, LSEQ returned +26.5% and TLT −4.8%.
Which is cheaper, LSEQ or TLT?: TLT is cheaper, by 2.13 percentage points a year. That is about $213 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

AGG vs LSEQ BND vs LSEQ GLD vs LSEQ LSEQ vs QQQ CSM vs TLT CLSE vs TLT FTLS vs TLT FFLS vs TLT

Where to next

BIL, the T-bill fund these are measured against →SPY, the S&P 500 fund these are measured against →LSEQ on its own →TLT on its own →Hold both: look the portfolio through →Rankings →LSEQ dividend history →TLT dividend history →TLT holdings →Standards and sources →

Sources and dates

LSEQ filings on SEC EDGAR ↗

LSEQ prospectus with the expense ratio (SEC) ↗

Harbor page for LSEQ ↗

TLT filings on SEC EDGAR ↗

TLT prospectus with the expense ratio (SEC) ↗

iShares page for TLT ↗

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

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ETFIQ, LSEQ against TLT, data as of Nov 4, 2026. https://etfiq.com/compare/any/lseq-vs-tlt

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