iShares 10-20 Year Treasury Bond ETF (TLH) Performance
TLH total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −3.0% since Dec 31, 2025
- 1 year
- −4.9% total return
- 5 years
- −4.7% a year
- 10 years
- −1.1% a year
- Since first price
- +2.7% a year since 2007
TLH trailing returns vs AGG, TLT, SPY
| Period | TLH total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.4% | +1.0% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.7% | −1.8% | −0.4% | −1.0% | +3.2% |
| 6 months | −3.1% | −5.3% | −1.5% | −3.8% | +7.8% |
| YTD | −3.0% | −6.2% | −1.0% | −3.4% | +12.3% |
| 1 year | −4.9% | −9.0% | −1.1% | −6.9% | +14.4% |
| 3 years | +14.2%+4.5%/yr | +0.6% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | −21.4%−4.7%/yr | −34.7% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | −10.7%−1.1%/yr | −33.1% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| 15 years | +11.0%+0.7%/yr | −25.4% | +32.2%+1.9%/yr | +9.9%+0.6%/yr | +696.0%+14.8%/yr |
| Since inceptionJan 11, 2007 | +69.8%+2.7%/yr | −5.0% | — | — | — |
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: TLH vs AGG
From Jan 11, 2007: TLH grew to $16,984, AGG to $17,635.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TLH returns by calendar year
13 of 18 full years positive. Best 2011 (+21.7%), worst 2022 (−25.2%). 2026 is year to date.
TLH annual returns table
| Year | TLH | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −3.0% | −10.3% | −1.0% | −3.4% | +12.3% |
| 2025 | +6.5% | −7.6% | +7.2% | +4.3% | +17.7% |
| 2024 | −4.2% | −10.0% | +1.3% | −8.1% | +24.9% |
| 2023 | +4.0% | −18.4% | +5.7% | +2.8% | +26.2% |
| 2022 | −25.2% | −29.2% | −13.0% | −31.2% | −18.2% |
| 2021 | −5.4% | −12.5% | −1.8% | −4.6% | +28.7% |
| 2020 | +13.8% | −11.8% | +7.5% | +18.2% | +18.3% |
| 2019 | +10.1% | −5.6% | +8.5% | +14.1% | +31.2% |
| 2018 | +0.4% | −5.7% | +0.1% | −1.6% | −4.6% |
| 2017 | +4.2% | −3.4% | +3.6% | +9.2% | +21.7% |
| 2016 | +0.8% | −11.0% | +2.4% | +1.2% | +12.0% |
| 2015 | +1.4% | −6.6% | +0.5% | −1.8% | +1.2% |
| 2014 | +14.3% | −2.8% | +6.0% | +27.3% | +13.5% |
| 2013 | −8.3% | −11.3% | −2.0% | −13.4% | +32.3% |
| 2012 | +3.7% | −5.3% | +3.8% | +2.6% | +16.0% |
| 2011 | +21.7% | −6.4% | +7.7% | +34.0% | +1.9% |
| 2010 | +9.7% | −9.6% | +6.4% | +9.0% | +15.1% |
| 2009 | −9.1% | −12.5% | +3.0% | −21.8% | +26.4% |
| 2008 | +20.6% | −7.3% | +7.9% | +33.9% | −36.8% |
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.
TLH largest drawdowns
Now 31.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 4, 2020 | −41.1% | Oct 19, 2023 | not yet | 3.2 years | 6.2 years so far |
| Dec 30, 2008 | −14.3% | Jun 10, 2009 | Jun 30, 2010 | 5 months | 1.5 years |
| Mar 9, 2020 | −11.8% | Mar 18, 2020 | Jul 23, 2020 | 9 days | 4 months |
| Jul 24, 2012 | −11.8% | Sep 5, 2013 | Oct 13, 2014 | 1.1 years | 2.2 years |
| Jul 8, 2016 | −11.6% | Oct 8, 2018 | May 30, 2019 | 2.3 years | 2.9 years |
| Aug 31, 2010 | −10.7% | Feb 8, 2011 | Aug 2, 2011 | 5 months | 11 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
TLH risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +2.0% | −5.5% | −1.6% | +2.6% |
| Volatility (annualized) | 11.1% | 12.3% | 10.7% | 10.0% |
| Sharpe ratio | -0.16 | -0.70 | -0.31 | 0.17 |
| Sortino ratio | -0.22 | -0.87 | -0.42 | 0.26 |
| Best month | +8.2% | +8.2% | +8.2% | +11.7% |
| Worst month | −5.3% | −7.8% | −7.8% | −7.8% |
| Best 12 months | +15.7% | +15.7% | +26.6% | +26.6% |
| Worst 12 months | −6.5% | −28.0% | −28.0% | −28.0% |
| Positive months | 56% | 45% | 48% | 53% |
| Beta vs S&P 500 | 0.43 | 0.44 | 0.14 | — |
| Correlation with S&P 500 | 0.48 | 0.56 | 0.21 | — |
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.
TLH rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 226 | −28.0% | +4.3% | +26.6% | 65% |
| 3-year (a year) | 202 | −14.1% | +3.9% | +12.1% | 76% |
| 5-year (a year) | 178 | −7.3% | +3.1% | +10.9% | 70% |
| 10-year (a year) | 118 | −1.6% | +3.3% | +7.0% | 74% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
TLH performance overview
iShares 10-20 Year Treasury Bond ETF (TLH) returned −4.9% over the past year and −1.1% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +2.7% a year, turning $10,000 into about $16,984. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −41.1%, from Aug 4, 2020 to Oct 19, 2023; the fund has not yet regained that high. TLH finished 13 of its 18 full calendar years with a gain; the best year was 2011 (+21.7%) and the worst 2022 (−25.2%). Volatility has been 10.0% a year.
Related: TLH chart, TLH dividends, TLH bond profile. See the TLH overview for the latest quote and fund facts.
TLH performance FAQ
What is the TLH return over the past year?
TLH returned −4.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 9.0%.
What is the average annual return of TLH?
TLH has returned −4.7% a year over 5 years, −1.1% a year over 10 years, +2.7% a year since January 11, 2007 (total return, distributions reinvested).
How much would $10,000 invested in TLH be worth?
$10,000 invested in TLH at its first recorded close on January 11, 2007 would be worth about $16,984 on October 23, 2026 with distributions reinvested.
What was the worst year for TLH?
The worst calendar year was 2022, with a total return of −25.2%. The best was 2011 at +21.7%.
What is the biggest drawdown of TLH?
The largest peak-to-trough decline was −41.1% between August 4, 2020 and October 19, 2023. It has not yet recovered to that high; it is 31.6% below its peak.
How volatile is TLH?
Over the past 3 years TLH had an annualized volatility of 11.1% and a Sharpe ratio of -0.16 (excess return over 1–3 month T-bills per unit of risk).