iShares 20+ Year Treasury Bond ETF
$80.39−1.36 (−1.66%)
- Expense ratio
- 0.15%
- Fund size
- $46.9B
- 1Y return
- −3.6%
- Yield · Last 12 months
- 4.76%
- Holdings
- 47
- Volume · 30D
- 29M sh
- NAV per share
- $81.77
- 52W range
The ETF.net TLT Grade
Score 69 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 42Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 53Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 86Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 64Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 89Category rank
Our read on TLT
BThe long bond's most famous ticker. iShares launched TLT in 2002, and it became the default way to take a view on 20-year-plus Treasuries: index-tracked, heavily traded, with a deep listed options market.
The fund seeks to track an index of U.S. Treasury bonds with remaining maturities greater than twenty years, providing targeted exposure to long-duration government debt.
Why people hold it
- Pure long-duration Treasuries: it tracks the ICE U.S. Treasury 20+ Year Bond Index, government debt maturing in 20 years or more, no corporate credit, no short-end dilution.ishares.com
- One of the most actively traded bond ETFs, with a deep listed options market around it, so positions and hedges can be built and unwound on-screen.marketchameleon.com
- Running since 2002 and now a multi-billion-dollar fund, paying distributions monthly.
Worth knowing
- You pay for that liquidity: 0.15% a year, while BBLB tracks the very same index for 0.04% and VGLT charges 0.03% for long Treasuries.
- Long duration cuts both ways. Bonds this far out the curve move sharply when long-term yields shift, so the ride is far more volatile than a short-term Treasury fund.ishares.com
- Concentrated by design: roughly 50 Treasury bonds clustered at the long end, and the monthly payout floats with the coupons of whatever the index holds.
TLT Holdings
- Bonds
- 47
- 41%
- TREASURY BOND 4.75% 05/15/2055
Geography
- United States100.00%
TLT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
TLT$9,640
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | TLT |
|---|---|
| Year to date | −3.3% |
| 1 month | +0.0% |
| 3 months | −3.9% |
| 1 year | −3.6% |
| 3 years | +0.5% |
| 5 years | −8.5% |
| 10 years | −2.3% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TLT |
|---|---|---|
| 2026 YTD | −3.3% | |
| 2025 | +4.2% | |
| 2024 | −8.1% | |
| 2023 | +2.8% | |
| 2022 | −31.2% | |
| 2021 | −4.6% | |
| 2020 | +18.2% |
TLT in the news
TLT Dividends
- 4.76%
- $3.89
- $0.31 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.31 |
| Aug 3, 2026 | Aug 6, 2026 | $0.33 |
| Jul 1, 2026 | Jul 7, 2026 | $0.32 |
| Jun 1, 2026 | Jun 4, 2026 | $0.34 |
| May 1, 2026 | May 6, 2026 | $0.32 |
| Apr 1, 2026 | Apr 7, 2026 | $0.34 |
| Mar 2, 2026 | Mar 5, 2026 | $0.30 |
| Feb 2, 2026 | Feb 5, 2026 | $0.33 |
| Dec 19, 2025 | Dec 24, 2025 | $0.34 |
| Dec 1, 2025 | Dec 4, 2025 | $0.32 |
| Nov 3, 2025 | Nov 6, 2025 | $0.33 |
| Oct 1, 2025 | Oct 6, 2025 | $0.31 |
TLT Risk
- 13.9%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.34
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −43.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 2.40
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TLT Cost
0.15%
TLT0.15%
- The middle half of Treasuries (20+ Year) funds
- Median 0.15%
4 of the 11 Treasuries (20+ Year) funds charge less.