IBTPvsTLTETF Comparison
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iShares iBonds Dec 2034 Term Treasury ETF (IBTP) 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. IBTP is less expensive with a Total Expense Ratio (TER) of 0.07%, versus 0.15% for TLT. IBTP is down -2.87% year-to-date (YTD) with +$138M in YTD flows. TLT performs worse with -5.08% YTD performance, and +$3.12B in YTD flows. Run a side-by-side ETF comparison of IBTP 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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IBTP vs TLT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IBTP TLT | +0.08%-0.69% | -2.39%-3.86% | -2.87%-5.08% | -3.36%-8.34% | n/a+5.47% | n/a-34.32% |
| Flows | IBTP TLT | +$25M+$228M | +$66M+$6.29B | +$138M+$3.12B | +$165M+$2.28B | -+$12.12B | -+$49.51B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IBTP TLT | +4.98%+10.41% | +4.68%+9.32% | n/a+12.82% | n/a+15.43% |
| Max drawdown | IBTP TLT | -4.03%-7.66% | -6.48%-12.42% | n/a-16.55% | n/a-43.68% |
| Max drawdown duration | IBTP TLT | 52d89d | 229d229d | n/a760d | n/a1776d |
Trading data
IBTP | TLT | |
Last sale 10/16/2026 at 1:30 PM | $24.33 | $80.05 |
| Previous close 10/15/2026 | $24.31 | $79.97 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 19, 2026
1-year trailing difference
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IBTP | 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 10/16/2026 at 1:30 PM
Live
Closed
IBTP | TLT | |
|---|---|---|
| Last price | $24.33 | $80.05 |
| 1D performance | +0.08% | +0.10% |
| AuM | $336.74 M | $47.01 B |
| E/R | 0.07% | 0.15% |
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Exposure
Countries
IBTP
USA
100.63%
Other
-0.63%
TLT
USA
99.66%
Other
0.34%
Sectors
IBTP
Sovereign
99.63%
Other
0.37%
TLT
Sovereign
98.58%
Other
1.42%
Diversification
IBTP
Total weight of top 5 holdings out of 5
100.63%
TLT
Total weight of top 15 holdings out of 15
58.22%
Top 15 holdings
Data as of August 31, 2026
IBTP
USA, Notes 4.375% 15may2034, USD (C-2034)
25.33%
USA, Notes 4.25% 15nov2034, USD (F-2034)
25.31%
USA, Notes 4% 15feb2034, USD (B-2034)
24.63%
USA, Notes 3.875% 15aug2034, USD (E-2034)
24.37%
BlackRock Cash Funds - Treasury
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 IBTP and TLT
How have the IBTP and TLT ETFs performed in 2026?
As of October 16, 2026, IBTP is down -2.87% year-to-date (YTD), while TLT has lost -5.08%. That puts IBTP better performer ahead so far this year.
Which ETF is attracting more investor money: IBTP or TLT?
Year-to-date, the IBTP ETF saw +$138M in flows, compared to +$3.12B for TLT.
Which ETF is more volatile: IBTP or TLT?
Over the past year, IBTP had a volatility of 4.68%, while TLT experienced 9.32%.
Which ETF is bigger: IBTP or TLT?
As of October 16, 2026, IBTP holds $336.74 M in assets under management (AUM), while TLT manages $47.01 B.
What sectors do the IBTP and TLT ETFs invest in?
IBTP leans toward sectors like Sovereign. Meanwhile, TLT focuses on Sovereign.
What are the top holdings of the IBTP ETF and TLT ETF?
IBTP top holdings include USA, Notes 4.375% 15may2034, USD (C-2034), USA, Notes 4.25% 15nov2034, USD (F-2034) and USA, Notes 4% 15feb2034, USD (B-2034). 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: IBTP or TLT?
IBTP has 5 securities. TLT has 48 securities and a top 15 weight of 58.22%.
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