GOVTvsTLTETF Comparison
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iShares U.S. Treasury Bond ETF (GOVT) and iShares 20+ Year Treasury Bond ETF (TLT) belong to the same industry segment: US Government Bonds. Both ETFs have the same top 2 sector exposures: Sovereign and Non-Corporate. GOVT is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.15% for TLT. GOVT is down -0.78% year-to-date (YTD) with +$10.77B in YTD flows. TLT performs worse with -3.09% YTD performance, and +$2.89B in YTD flows. Run a side-by-side ETF comparison of GOVT and TLT below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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GOVT vs TLT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | GOVT TLT | +1.76%+4.32% | -0.39%-1.31% | -0.78%-3.09% | -1.17%-6.85% | +12.94%+9.67% | -3.12%-32.66% |
| Flows | GOVT TLT | +$795M+$519M | -$426M+$5.80B | +$10.77B+$2.89B | +$12.15B+$2.76B | +$20.18B+$9.57B | +$31.30B+$49.40B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | GOVT TLT | +4.16%+11.24% | +3.66%+9.56% | +4.64%+12.69% | +5.69%+15.43% |
| Max drawdown | GOVT TLT | -2.85%-7.39% | -4.44%-12.42% | -4.87%-16.55% | -16.15%-43.68% |
| Max drawdown duration | GOVT TLT | 62d90d | 239d239d | 318d770d | 1786d1786d |
Trading data
GOVT | TLT | |
Last sale 10/27/2026 at 1:30 PM | $22.21 | $81.63 |
| Previous close 10/26/2026 | $22.22 | $81.68 |
| Consolidated volume 10/26/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 28, 2026
1-year trailing difference
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GOVT | TLT | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
GOVT | TLT | |
|---|---|---|
| Last price | $22.21 | $81.63 |
| 1D performance | -0.05% | -0.06% |
| AuM | $42.80 B | $47.76 B |
| E/R | 0.05% | 0.15% |
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Exposure
Countries
GOVT
USA
99.58%
Other
0.42%
TLT
USA
99.66%
Other
0.34%
Sectors
GOVT
Sovereign
98.85%
Other
1.15%
TLT
Sovereign
98.58%
Other
1.42%
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Diversification
GOVT
Total weight of top 15 holdings out of 15
26.71%
TLT
Total weight of top 15 holdings out of 15
58.22%
Top 15 holdings
Data as of August 31, 2026
GOVT
USA, Notes 1.375% 15nov2031, USD (F-2031)
5.28%
USA, Notes 2.625% 15feb2029, USD (B-2029)
2.96%
USA, Notes 3.125% 15nov2028, USD (F-2028)
2.10%
USA, Notes 2.75% 15feb2028, USD (B-2028)
1.93%
USA, Notes 2.875% 15may2028, USD (C-2028)
1.63%
USA, Bonds 2.5% 15may2046, USD
1.51%
USA, Bonds 2.75% 15nov2042, USD
1.49%
USA, Bonds 6.125% 15nov2027, USD
1.40%
USA, Bonds 3.75% 15nov2043, USD
1.39%
USA, Notes 2.25% 15nov2027, USD (F-2027)
1.37%
USA, Bonds 1.875% 15feb2051, USD
1.34%
USA, Notes 4% 31may2028, USD (BC-2028)
1.21%
USA, Notes 2.375% 15may2029, USD (C-2029)
1.08%
USA, Notes 4% 31may2030, USD (Z-2030)
1.02%
USA, Notes 3.875% 31mar2028, USD (AZ-2028)
0.99%
TLT
USA, Bonds 4.75% 15may2055, USD
4.51%
USA, Bonds 4.625% 15may2054, USD
4.28%
USA, Bonds 4.125% 15aug2053, USD
4.19%
USA, Bonds 4.75% 15feb2056, USD
4.14%
USA, Bonds 4.25% 15feb2054, USD
4.04%
USA, Bonds 5% 15may2056, USD
4.03%
USA, Bonds 4.75% 15nov2053, USD
3.98%
USA, Bonds 4.25% 15aug2054, USD
3.95%
USA, Bonds 4.625% 15nov2055, USD
3.85%
USA, Bonds 4.625% 15feb2055, USD
3.81%
USA, Bonds 4.5% 15nov2054, USD
3.80%
USA, Bonds 1.875% 15nov2051, USD
3.80%
USA, Bonds 2% 15aug2051, USD
3.35%
USA, Bonds 4.75% 15aug2055, USD
3.31%
USA, Bonds 3.625% 15may2053, USD
3.16%
Frequently asked questions about GOVT and TLT
How have the GOVT and TLT ETFs performed in 2026?
As of October 26, 2026, GOVT is down -0.78% year-to-date (YTD), while TLT has lost -3.09%. That puts GOVT better performer ahead so far this year.
Which ETF is attracting more investor money: GOVT or TLT?
Year-to-date, the GOVT ETF saw +$10.77B in flows, compared to +$2.89B for TLT.
Which ETF is more volatile: GOVT or TLT?
Over the past year, GOVT had a volatility of 3.66%, while TLT experienced 9.56%.
Which ETF is bigger: GOVT or TLT?
As of October 26, 2026, GOVT holds $42.80 B in assets under management (AUM), while TLT manages $47.76 B.
What sectors do the GOVT and TLT ETFs invest in?
GOVT leans toward sectors like Sovereign. Meanwhile, TLT focuses on Sovereign.
What are the top holdings of the GOVT ETF and TLT ETF?
GOVT top holdings include USA, Notes 1.375% 15nov2031, USD (F-2031), USA, Notes 2.625% 15feb2029, USD (B-2029) and USA, Notes 3.125% 15nov2028, USD (F-2028). TLT holds in its top three: USA, Bonds 4.75% 15may2055, USD, USA, Bonds 4.625% 15may2054, USD and USA, Bonds 4.125% 15aug2053, USD.
Which ETF is more diversified: GOVT or TLT?
GOVT holds 219 securities with 26.71% of its assets in the top 15. TLT has 48 securities and a top 15 weight of 58.22%.
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