LLDR vs TLH

LLDRBGlobal X Long-Term Treasury Ladder ETF

TLHBiShares 10-20 Year Treasury Bond ETF

In short

LLDR A bond ladder for the long end of the curve. LLDR holds roughly 100 Treasuries maturing 10 to 30 years out and rolls the rungs forward each year, so you get ladder mechanics in one ticker instead of a spreadsheet.

TLH A precision tool for one slice of the yield curve: about 60 US Treasuries maturing in 10 to 20 years, tracked against a single ICE index since 2007. No corporate credit, no curve guessing, just that band.

Stated mandate

LLDR The fund seeks to provide returns generally corresponding to the price and yield performance of the FTSE US Treasury 10-30 Years Laddered Bond Index before fees and expenses.

TLH The fund seeks to track the ICE U.S. Treasury 10-20 Year Bond Index, which represents U.S. Treasury obligations with maturities in the 10-to-20-year range.

Why people hold it

• LLDR Ladder mechanics, no maintenance: maturities spread across the 10 to 30 year range and rolled annually, rather than one lump of long bonds.globalxetfs.comaaii.com
• 0.12% expense ratio, right at the median for Treasury ETFs in its peer group.
• Treasuries only, no corporate or credit sleeve, and it pays monthly.globalxetfs.com

• TLH One job, defined narrowly: track the ICE U.S. Treasury 10-20 Year Bond Index. Roughly 60 government bonds, a single maturity band, no corporate credit in the mix.ishares.com
• It stays close to that index and trades actively, so entering and exiting a position is generally straightforward rather than a spread-hunting exercise.
• Live since 2007 and now a multi-billion-dollar iShares fund, it has traded through the financial crisis and every rate cycle since.
• Interest arrives monthly rather than quarterly, which suits anyone matching bond income to a regular schedule.

Worth knowing

• LLDR Long duration by design. Price swings when yields move are far bigger than in short or intermediate Treasury funds.globalxetfs.com
• Small and thinly traded, so bid-ask spreads can run wider than the category giants.
• Broad Treasury exposure comes cheaper elsewhere: VGIT and VTG charge 0.03%, though at different maturity bands.

• TLH At 0.15% it runs above the typical Treasury ETF and well above the cheapest rivals, such as VGIT at 0.03%. The targeted maturity band carries a price.
• Long maturities move hard on rate news. A given shift in yields hits 10-to-20-year paper far more than short-term Treasuries, in both directions.
• This is one segment of the curve, not a whole bond sleeve: no corporates, no TIPS, no short end to cushion the ride.

Full LLDR profile⁠

Full TLH profile⁠