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

In the year to Oct 28, 2026, with distributions reinvested, TLT returned −7.9% and USMV +10.8%.

Which is cheaper, TLT or USMV?

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

Data as of Oct 28, 2026.

Across categories

TLT vs USMV: Differences, Returns & Fees

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Over the year to Oct 28, 2026, TLT returned −7.9% to USMV's +10.8%; 0% of their weight is in the same names.

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Net assets on Oct 27, 2026: $47.4bn for iShares 20+ Year Treasury Bond ETF and $24.1bn for iShares MSCI USA Min Vol Factor ETF.

TLT on its own →USMV on its own →

At a glance

−7.9%

TLT total return, 1 year

+10.8%

USMV total return, 1 year

0.15%

TLT expense ratio

0.15%

USMV expense ratio

Pair scorecard

Both cost 0.15% a year; their one-year returns differ by 18.7 points; TLT is 2.0 times larger.

Points (pts) are percentage points.

TLT vs USMV: Differences, Returns & Fees
Measure	TLT	USMV
Return
Measure	TLT	USMV
Total return, 1 year	−7.9%	+10.8%
Drawdown
Measure	TLT	USMV
Below its high	42.6%, high on Aug 4, 2020
Benchmark
Measure	TLT	USMV
What it tracks	ICE U.S. Treasury 20+ Year Bond Index	MSCI USA Minimum Volatility (USD) Index
Cost and size
Measure	TLT	USMV
Expense ratio	0.15%	0.15%
Net assets, as of Oct 27, 2026	$47.4bn	$24.1bn
Holdings
Measure	TLT	USMV
Holdings in common	0%
In the S&P 500, by weight		93%
Top ten holdings, share of the fund		14.8%

Holdings in common uses holdings dated Oct 27, 2026. Method

What they share

By the books each fund has filed, TLT and USMV hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first TLT USMV

Only in one fund ↓

Only in TLT

TREASURY BOND 4.32%

TREASURY BOND 4.12%

TREASURY BOND (OLD) 4.07%

TREASURY BOND 4.02%

TREASURY BOND 3.93%

TREASURY BOND 3.92%

TREASURY BOND 3.89%

TREASURY BOND 3.88%

Only in USMV

MICROSOFT 1.61%

EXXONMOBIL HOLDINGS CORP 1.54%

BERKSHIRE HATHAWAY INC CLASS B 1.50%

CHUBB 1.50%

MOTOROLA SOLUTIONS INC 1.48%

AMPHENOL CORP CLASS A 1.47%

NVIDIA 1.47%

JOHNSON & JOHNSON 1.44%

Check overlap with more funds →

Side by side

TLT iShares 20+ Year Treasury Bond ETF USMV iShares MSCI USA Min Vol Factor ETF

Where it sits Bond ETF Stock ETF

Issuer iShares iShares

What it is Tracks an index of 20+ year Treasuries Tracks the MSCI USA Min Vol Factor

Total return, 1 year −7.9% +10.8%

Its benchmark over the same days −7.8% (BBLB) not measured

Gap to its benchmark −0.1 pts vs BBLB not measured

Expense ratio 0.15% 0.15%

Holdings 47 176

Net assets, as of Oct 27, 2026 $47.4bn $24.1bn

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

Alert

About each fund

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. The prospectus expense ratio is 0.15% a year. It sat 42.6% below its high of Aug 4, 2020 on Oct 28, 2026.

USMV

USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 14.8%.

Questions people ask

Which returned more over the last year, TLT or USMV?: In the year to Oct 28, 2026, with distributions reinvested, TLT returned −7.9% and USMV +10.8%.
Which is cheaper, TLT or USMV?: Neither: TLT and USMV both charge 0.15% a year. Fees come from each fund's prospectus.

Other comparisons

CGGR vs TLT DFUS vs TLT DGRW vs TLT AVUS vs TLT EDV vs USMV USMV vs VGLT IEF vs USMV BNDX vs USMV

Where to next

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

Sources and dates

TLT and USMV filings on SEC EDGAR ↗

TLT prospectus with the expense ratio (SEC) ↗

iShares page for TLT ↗

USMV prospectus with the expense ratio (SEC) ↗

iShares page for USMV ↗

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

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