Data as of Oct 28, 2026.
TLT vs XLF: Differences, Returns & Fees
Over the year to Oct 28, 2026, TLT returned −7.9% to XLF's +7.6%; 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 $51.6bn for State Street Financial Select Sector SPDR ETF.
Pair scorecard
XLF costs 0.07 points a year less; their one-year returns differ by 15.5 points; XLF is 1.1 times larger.
| Measure | TLT | XLF |
|---|---|---|
| Return | ||
| Total return, 1 year | −7.9% | +7.6% |
| Drawdown | ||
| Below its high | 42.6%, high on Aug 4, 2020 | 3.8%, high on Sep 3, 2026 |
| Benchmark | ||
| What it tracks | ICE U.S. Treasury 20+ Year Bond Index | Financial Select Sector Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.08% |
| Net assets, as of Oct 27, 2026 | $47.4bn | $51.6bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 57.4% | |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Aug 2, 2002 to Oct 23, 2026 · 1,264 weekly returnsXLF returned more: +411.5% to +123.8%. TLT swung less: 13.4% to 25.8%. TLT fell less at its worst: −47.8% to −82.7%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | TLT | XLF | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +123.8% | +411.5% | XLF | Price change plus distributions, reinvested. |
| Annualized | +3.4% | +6.9% | XLF | Total return as a yearly rate. |
| Price return | −3.0% | +155.1% | XLF | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 13.4% | 25.8% | TLT | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 9.5% | 17.7% | TLT | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −47.8% | −82.7% | TLT | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.18 | 0.32 | XLF | Return above Treasury bills per unit of volatility. |
| Sortino | 0.26 | 0.47 | XLF | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.07 | 0.08 | XLF | 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, TLT and XLF hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
TLT and XLF on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
TLT and XLF do different jobs. What does each one do in a portfolio?
- What each follows. TLT follows ICE U.S. Treasury 20+ Year Bond Index and XLF follows Financial Select Sector Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 TLT returned −7.9% and XLF +7.6% with distributions reinvested, a gap of 15.5 points.
Data as of Oct 28, 2026.
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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.
XLF
XLF tracks an index of Financials. Over the year to Oct 28, 2026 it returned +7.6% with distributions reinvested. The prospectus expense ratio is 0.08% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 77 positions, with the top ten at 57.4%. It sat 3.8% below its high of Sep 3, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, TLT or XLF?
- In the year to Oct 28, 2026, with distributions reinvested, TLT returned −7.9% and XLF +7.6%.
- Which is cheaper, TLT or XLF?
- XLF is cheaper, by 0.07 percentage points a year. That is about $7 on $10,000 held for a year. Fees come from each fund's prospectus.
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.
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ETFIQ, TLT against XLF, data as of Oct 28, 2026. https://etfiq.com/compare/any/tlt-vs-xlf
ETFIQ. (Oct 28, 2026). TLT against XLF. Retrieved from https://etfiq.com/compare/any/tlt-vs-xlf
[TLT against XLF (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/tlt-vs-xlf)
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