Are MKTN and TLT the same kind of fund?

MKTN is an alternatives ETF and TLT is an index ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each holds.

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

In the year to Oct 1, 2026, with distributions reinvested, MKTN returned +12.5% and TLT −9.0%.

Which is cheaper, MKTN or TLT?

TLT is cheaper, by 1.79 percentage points a year. On $10,000 held for a year that difference is about $179. Fees come from each fund's prospectus.

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MKTN vs TLT: how they differ

Over the year MKTN returned +12.5% to TLT's −9.0%, and TLT charges 0.15% to MKTN's 1.94%. Federated Hermes MDT Market Neutral ETF and iShares 20+ Year Treasury Bond ETF.

+12.5%

MKTN total return, 1 year

−9.0%

TLT total return, 1 year

1.94%

MKTN expense ratio

0.15%

TLT expense ratio

On the same fields

MKTN

Federated Hermes MDT Market Neutral ETF

TLT

iShares 20+ Year Treasury Bond ETF

Where it sits Alternatives ETF Core fund

Issuer Federated Hermes iShares

What it is Market neutral Tracks an index of 20+ year Treasuries

Total return, 1 year +12.5% −9.0%

S&P 500 over the same days +15.7% +15.7%

Gap to the S&P 500 −3.2 pts −24.7 pts

Expense ratio 1.94% 0.15%

Holdings not filed 49

Net assets $107m $46.2bn

MKTN and TLT on the fields both publish, as of Oct 1, 2026. Source: ETFIQ.

MKTN in plain words

MKTN is a market neutral fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Sep 30, 2026, its weekly returns had a correlation of −0.01 with the S&P 500’s and a beta of 0.00, so on average it did not move with the index at all. The S&P 500 fell in 25 of those 52 weeks, by 1.15% on average. In the same weeks MKTN rose 0.40% on average, a down-week capture of −35.0%. Over the same 52 weeks MKTN returned +13.9% and a Treasury bill fund +3.6%, so it finished 10.2 percentage points ahead of cash.

TLT in plain words

TLT tracks an index of 20+ year Treasuries. Over the year to Sep 30, 2026 it returned −9.0% with distributions reinvested, against +15.7% for the S&P 500 and +23.8% for the Nasdaq-100. The prospectus expense ratio is 0.15% a year. It sat 45.1% below its high of Aug 4, 2020 on Sep 30, 2026.

Questions people ask

Are MKTN and TLT the same kind of fund?: MKTN is an alternatives ETF and TLT is an index ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each holds.
Which returned more over the last year, MKTN or TLT?: In the year to Oct 1, 2026, with distributions reinvested, MKTN returned +12.5% and TLT −9.0%.
Which is cheaper, MKTN or TLT?: TLT is cheaper, by 1.79 percentage points a year. On $10,000 held for a year that difference is about $179. Fees come from each fund's prospectus.

Other comparisons

GLD vs MKTN MKTN vs QQQ MKTN vs SPY MKTN vs VOO TLT vs VGIT TLT vs VGK TLT vs VGLT TLT vs VGSH

BIL, the T-bill fund these are measured against →MKTN on its own →TLT on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

MKTN filings on SEC EDGAR ↗MKTN prospectus with the expense ratio (SEC) ↗Federated Hermes website ↗TLT filings on SEC EDGAR ↗TLT prospectus with the expense ratio (SEC) ↗iShares page for TLT ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, MKTN against TLT, data as of Oct 1, 2026. https://etfiq.com/compare/any/mktn-vs-tlt

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.