FlexShares Morningstar US Market Factors Tilt… (TILT) Performance
TILT total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +13.0% since Dec 31, 2025
- 1 year
- +15.6% total return
- 5 years
- +10.9% a year
- 10 years
- +13.8% a year
- Since first price
- +14.3% a year since 2011
TILT trailing returns vs SPY, QQQ, AGG
| Period | TILT total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.4% | −0.4% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.3% | +2.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.4% | +6.8% | +7.8% | +8.4% | −1.5% |
| YTD | +13.0% | +12.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +15.6% | +14.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +83.6%+22.4%/yr | +76.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +67.7%+10.9%/yr | +56.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +263.0%+13.8%/yr | +212.2% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +591.0%+13.8%/yr | +455.4% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionSep 22, 2011 | +655.5%+14.3%/yr | +507.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: TILT vs SPY
From Sep 22, 2011: TILT grew to $75,552, SPY to $87,439.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TILT returns by calendar year
11 of 14 full years positive. Best 2013 (+35.8%), worst 2022 (−17.2%). 2026 is year to date.
TILT annual returns table
| Year | TILT | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +13.0% | −8.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +16.6% | −19.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +19.9% | −8.3% | +24.9% | +25.6% | +1.3% |
| 2023 | +24.7% | −12.0% | +26.2% | +54.9% | +5.7% |
| 2022 | −17.2% | −24.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +27.6% | −6.0% | +28.7% | +27.4% | −1.8% |
| 2020 | +16.0% | −38.5% | +18.3% | +48.6% | +7.5% |
| 2019 | +29.0% | −7.8% | +31.2% | +39.0% | +8.5% |
| 2018 | −8.9% | −21.5% | −4.6% | −0.1% | +0.1% |
| 2017 | +18.3% | −3.8% | +21.7% | +32.7% | +3.6% |
| 2016 | +16.8% | −10.5% | +12.0% | +7.1% | +2.4% |
| 2015 | −2.5% | −12.9% | +1.2% | +9.4% | +0.5% |
| 2014 | +10.5% | −8.4% | +13.5% | +19.2% | +6.0% |
| 2013 | +35.8% | −5.4% | +32.3% | +36.6% | −2.0% |
| 2012 | +15.9% | −11.0% | +16.0% | +18.1% | +3.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
TILT largest drawdowns
Now 2.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −38.5% | Mar 23, 2020 | Sep 2, 2020 | 33 days | 6 months |
| Jan 4, 2022 | −24.1% | Sep 30, 2022 | Dec 14, 2023 | 9 months | 1.9 years |
| Sep 20, 2018 | −21.5% | Dec 24, 2018 | Jul 12, 2019 | 3 months | 10 months |
| Dec 4, 2024 | −19.8% | Apr 8, 2025 | Jul 2, 2025 | 4 months | 7 months |
| Jun 23, 2015 | −17.6% | Feb 11, 2016 | Jul 14, 2016 | 8 months | 1.1 years |
| Mar 27, 2012 | −11.0% | Jun 4, 2012 | Sep 6, 2012 | 2 months | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
TILT risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2011 |
|---|---|---|---|---|
| Annualized return | +20.9% | +12.0% | +13.5% | +14.3% |
| Volatility (annualized) | 13.1% | 16.3% | 16.9% | 15.5% |
| Sharpe ratio | 1.20 | 0.56 | 0.70 | 0.85 |
| Sortino ratio | 2.27 | 0.88 | 1.08 | 1.35 |
| Best month | +9.5% | +9.5% | +14.2% | +14.2% |
| Worst month | −5.6% | −9.6% | −17.6% | −17.6% |
| Best 12 months | +36.2% | +36.2% | +73.7% | +73.7% |
| Worst 12 months | +5.0% | −17.2% | −17.2% | −17.2% |
| Positive months | 75% | 65% | 68% | 68% |
| Beta vs S&P 500 | 1.01 | 1.01 | 1.07 | — |
| Correlation with S&P 500 | 0.96 | 0.97 | 0.97 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
TILT rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 170 | −17.2% | +14.6% | +73.7% | 82% |
| 3-year (a year) | 146 | −0.7% | +11.1% | +24.1% | 99% |
| 5-year (a year) | 122 | +2.9% | +12.3% | +18.8% | 100% |
| 10-year (a year) | 62 | +9.2% | +11.7% | +15.5% | 100% |
Every holding period starting at a month-end since 2011. Returns for 3 years and longer are annualized.
TILT performance overview
FlexShares Morningstar US Market Factors Tilt… (TILT) returned +15.6% over the past year and +13.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2011 it has returned +14.3% a year, turning $10,000 into about $75,552. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −38.5%, from Feb 19, 2020 to Mar 23, 2020, and it took 5 months to get back to the old high. TILT finished 11 of its 14 full calendar years with a gain; the best year was 2013 (+35.8%) and the worst 2022 (−17.2%). Volatility has been 15.5% a year.
Related: TILT chart, TILT holdings, TILT dividends, TILT valuation. See the TILT overview for the latest quote and fund facts.
TILT performance FAQ
What is the TILT return over the past year?
TILT returned +15.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 14.2%.
What is the average annual return of TILT?
TILT has returned +10.9% a year over 5 years, +13.8% a year over 10 years, +14.3% a year since September 22, 2011 (total return, distributions reinvested).
How much would $10,000 invested in TILT be worth?
$10,000 invested in TILT at its first recorded close on September 22, 2011 would be worth about $75,552 on October 23, 2026 with distributions reinvested.
What was the worst year for TILT?
The worst calendar year was 2022, with a total return of −17.2%. The best was 2013 at +35.8%.
What is the biggest drawdown of TILT?
The largest peak-to-trough decline was −38.5% between February 19, 2020 and March 23, 2020. It recovered to the old high on September 2, 2020, 5 months after the bottom.
How volatile is TILT?
Over the past 3 years TILT had an annualized volatility of 13.1% and a Sharpe ratio of 1.20 (excess return over 1–3 month T-bills per unit of risk).