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DWWN vs TLT

Principal Long Duration ETF

DWWNDCboe

iShares 20+ Year Treasury Bond ETF

TLTBNasdaq

Overlap

No data

Expense ratio

TLT −0.04pt a year

DWWN0.19%TLT0.15%

Avg volume · 30D

TLT 235179.0×the volume

DWWN148TLT34.8M

DWWN vs TLT Performance

Jul 31, 2026 – Oct 30, 2026

+1.1%DWWN+0.7%TLT

Jul 31, 2026 to Oct 30, 2026. DWWN +1.1%. TLT +0.7%. Use the arrow keys to read each point.−8%−6%−4%−2%Jul 2026Sep 2026Oct 2026
Expense ratio
DWWN 0.19%
TLT 0.15%, better
Fund size
DWWN $11M
TLT $47.5B
1Y total return
DWWN No data
TLT −5.1%
Yield (12M)
DWWN No data
TLT 4.75%
Holdings
DWWN 57
TLT 49
Avg volume (30D)
DWWN 148 sh
TLT 34.8M sh, better
NAV per share
DWWN $24.12
TLT $81.80
52W range

ETF.net Grade

DWWN: Cost 15, Risk 35, Mission not scored, Tradability 11, Holdings 74, Durability 12. TLT: Cost 37, Risk 57, Mission 100, Tradability 91, Holdings 64, Durability 89.
Pillar letters and Scores for DWWN, TLT, with each pillar’s weight
PillarDWWNTLT
Cost30% weightF15D37Higher
Mission25% weightNot scoredA100
Risk15% weightD35B57Higher
Tradability15% weightF11A91Higher
Holdings10% weightA74HigherB64
Durability5% weightF12A89Higher

Rank among Treasuries (20+ Year) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DWWN and TLT are both graded against the same 11 Treasuries (20+ Year) funds, so their Grades compare head to head.

Treasuries (20+ Year)⁠

Category · 11 funds
See all 11 ›

TLT ranks 4th and DWWN 11th of 11 funds in the Treasuries (20+ Year) Category.

  1. Rank 1AVGLTVanguard Long-Term Treasury ETFScore 84
  2. Rank 2ABBLBJPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETFScore 73
  3. Rank 3AEDVVanguard Extended Duration Treasury ETFScore 72
  4. Rank 4BTLTiShares 20+ Year Treasury Bond ETFScore 69
  5. Rank 5BGOVZiShares 25+ Year Treasury STRIPS Bond ETFScore 62
  6. Rank 10DTFJLInnovator 20+ Year Treasury Bond 5 Floor ETFScore 38
  7. Rank 11DDWWNPrincipal Long Duration ETFScore 25

Our read on each fund

ETF.net Research

DWWNDPrincipal Long Duration ETF

TLTBiShares 20+ Year Treasury Bond ETF

In short

DWWN No data

TLT The 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.

Stated mandate

DWWN No data

TLT 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

DWWN No data

  • TLT 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

DWWN No data

  • TLT 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.

Full DWWN profile⁠

Full TLT profile⁠

DWWN vs TLT Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DWWN vs TLT Cost

Overpaying DWWN vs TLT

$815

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DWWN 0.19%

    $3,952

  • TLT 0.15%

    $3,137

$10,000
30 years

Cost over time

  • DWWN 0.19%
  • TLT 0.15%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530DWWN $3,952TLT $3,137

Year by year

YearDWWNTLTOverpaying
10$347$274$73
20$1,351$1,071$280
30$3,952$3,137$815

Expense ratio

  • 0.19%DWWN
  • 0.15%TLT, cheaper
  • Middle half of Treasuries (20+ Year) funds
  • Median 0.15%

TLT 6th cheapest of 11 funds

DWWN 10th cheapest of 11 funds

DWWN vs TLT Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DWWN No data
TLT 4.75%
Payout (12M)
DWWN No data
TLT $3.89
Last payment
DWWN $0.10
TLT $0.31
Ex-dividend
DWWN Oct 1, 2026
TLT Oct 1, 2026
Paid on
DWWN Oct 5, 2026
TLT Oct 6, 2026
Frequency
DWWN Monthly
TLT Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

DWWNMonthly · 4 paymentsAll DWWN payments⁠
One bar per payment. 4 payments from 2023 to 2026 YTD. Jul 1, 2026 $0.12; Aug 3, 2026 $0.11; Sep 1, 2026 $0.11; Oct 1, 2026 $0.10. Use the arrow keys to read each point.$0$0.2520232026YTD
TLTMonthly · 45 paymentsAll TLT payments⁠
One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.28; Mar 1, 2023 $0.25; Apr 3, 2023 $0.27; May 1, 2023 $0.27; Jun 1, 2023 $0.27; Jul 3, 2023 $0.28; Aug 1, 2023 $0.28; Sep 1, 2023 $0.29; Oct 2, 2023 $0.28; Nov 1, 2023 $0.29; Dec 1, 2023 $0.29; Dec 14, 2023 $0.31; Feb 1, 2024 $0.31; Mar 1, 2024 $0.30; Apr 1, 2024 $0.31; May 1, 2024 $0.31; Jun 3, 2024 $0.31; Jul 1, 2024 $0.29; Aug 1, 2024 $0.31; Sep 3, 2024 $0.31; Oct 1, 2024 $0.32; Nov 1, 2024 $0.31; Dec 2, 2024 $0.33; Dec 18, 2024 $0.35; Feb 3, 2025 $0.31; Mar 3, 2025 $0.29; Apr 1, 2025 $0.33; May 1, 2025 $0.33; Jun 2, 2025 $0.32; Jul 1, 2025 $0.33; Aug 1, 2025 $0.33; Sep 2, 2025 $0.33; Oct 1, 2025 $0.31; Nov 3, 2025 $0.33; Dec 1, 2025 $0.32; Dec 19, 2025 $0.34; Feb 2, 2026 $0.33; Mar 2, 2026 $0.30; Apr 1, 2026 $0.34; May 1, 2026 $0.32; Jun 1, 2026 $0.34; Jul 1, 2026 $0.32; Aug 3, 2026 $0.33; Sep 1, 2026 $0.31; Oct 1, 2026 $0.31. Use the arrow keys to read each point.$0$0.2520232026YTD

DWWN vs TLT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DWWN No dataTLT 13.5%
Return per unit of riskSharpe ratio, 3 years
DWWN No dataTLT −0.002
Worst fallMax drawdown, 5 years
DWWN No dataTLT −43.7%
Market sensitivityBeta, 5 years
DWWN 0.46TLT 2.40

DWWN and TLT in the news

All news⁠

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