Head-to-head over the 11-year window both funds have in common (2015-10-26 → 2026-10-23): 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 | -1.0% | 0.8% |
| Volatility | 14.6% | 6.5% |
| Sharpe | 0.00 | 0.15 |
| Sortino | 0.01 | 0.23 |
| Max drawdown | -48.4% | -23.9% |
| Dividend yield | 4.78% | 4.08% |
| $10k → today | $8,949 | $10,894 |
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.