What is the expense ratio of IEF vs TLT?

IEF has an expense ratio of 0.15%, while TLT has an expense ratio of 0.15%.

IEF vs TLT

iShares 7-10 Year Treasury Bond ETF vs iShares 20+ Year Treasury Bond ETF

Last updated: 2026-04-10

IEF iShares

iShares 7-10 Year Treasury Bond ETF (IEF) is an exchange-traded fund issued by iShares that provides exposure to intermediate-term U.S. Treasury bonds. It charges a low expense ratio of 0.15%. The fund offers an attractive dividend yield of 3.84%. Launched in 2002, the fund has a 24-year track record.

AUM: $49.6B ER: 0.15% Yield: 3.84% Since: Jul 22, 2002

TLT iShares

iShares 20+ Year Treasury Bond ETF (TLT) is an exchange-traded fund issued by iShares that provides exposure to long-duration U.S. Treasury bonds with high interest rate sensitivity. It charges a low expense ratio of 0.15%. The fund offers a high dividend yield of 4.53%. Launched in 2002, the fund has a 24-year track record.

AUM: $42.3B ER: 0.15% Yield: 4.53% Since: Jul 22, 2002

Quick Verdict

IEF has edged ahead over the past year (1.4% vs -0.0%). Income investors may prefer TLT for its higher yield (4.5% vs 3.8%).

Key Metrics

Metric	IEF	TLT
Expense Ratio	0.15%	0.15%
Dividend Yield	3.8%	4.5%
Fund Family	iShares	iShares
Category	US Intermediate Treasury	US Long-Term Treasury

Performance Chart

Indexed to 100 at start (5-year comparison)

IEF -16.0%

TLT -37.1%

Performance Comparison

Period	IEF	TLT	Difference
1 Month	-0.70%	-0.85%	+0.15%
3 Months	-0.89%	-1.45%	+0.56%
6 Months	-1.69%	-4.61%	+2.92%
YTD	-0.79%	-0.73%	-0.06%
1 Year	+1.37%	-0.03%	+1.40%
3 Years	-4.15%	-19.26%	+15.11%
5 Years	-16.04%	-37.14%	+21.10%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment	Period	IEF Fees	TLT Fees	You Save
$10,000	10 years	$298	$298	$0
$10,000	20 years	$1,278	$1,278	$0
$10,000	30 years	$4,109	$4,109	$0
$50,000	10 years	$1,490	$1,490	$0
$50,000	30 years	$20,547	$20,547	$0
$100,000	30 years	$41,094	$41,094	$0

Risk Metrics

Based on 5 years of daily returns

Metric	IEF	TLT
Annualized Volatility	7.7%	15.9%
Max Drawdown	-24.7%	-46.4%
Sharpe Ratio	-1.00	-0.79

Dividend Comparison

Metric	IEF	TLT
Annual Dividend (per share)	$3.66	$3.91
Dividend Yield	3.84%	4.53%
Distribution Frequency	Monthly	Monthly

Which One Should You Choose?

Choose TLT if...

you prioritize dividend income and want higher regular distributions from your portfolio.

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