Head-to-head over the 11-year window both funds have in common (2015-07-27 → 2026-07-24): TLT (iShares 20+ Year Treasury Bond ETF) vs IEF (iShares 7-10 Year Treasury ETF) — total return with dividends reinvested, both starting at $10,000 on the same date.
On risk-adjusted return, IEF came out ahead of TLT —
but the gap is only half the story. Drawdown and yield often matter more.
TLT vs IEF — the numbers
| Metric | TLT | IEF |
|---|---|---|
| CAGR | -0.7% | 1.1% |
| Volatility | 14.7% | 6.5% |
| Sharpe | 0.03 | 0.20 |
| Sortino | 0.04 | 0.30 |
| Max drawdown | -48.4% | -23.9% |
| Dividend yield | 4.69% | 3.95% |
| $10k → today | $9,257 | $11,234 |
Compared over the exact period both funds existed, so the window is shorter than 10 years when one fund is newer. Past performance doesn't predict the future — try your own dates in the tool.