TLH vs SPY

Comparison between ISHARES 10-20 YEAR TREASURY BOND ETF (TLH, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed TLH, delivering a return of +13.3% compared to -3.7%

TLH vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	TLH(ETF)	SPY(ETF)
Net Assets	$12B	$652B
Expense Ratio	0.15%	0.09%
Max Drawdown	45.97%	56.47%
Sharpe Ratio	0.03	2.07
5Y Beta	0.04	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	3.59%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

TLH

$12B

Winner

SPY

$652B

Expense Ratio

TLH

0.15%

Winner

SPY

0.09%

Max Drawdown

Winner

TLH

45.97%

SPY

56.47%

Sharpe Ratio

TLH

0.03

Winner

SPY

2.07

5Y Beta

Winner

TLH

0.04

SPY

1.00

P/E Ratio

TLH

N/A

SPY

28.24

Forward P/E

TLH

N/A

SPY

21.85

5Y Dividends CAGR

TLH

3.59%

Winner

SPY

5.43%

5Y EPS CAGR

TLH

N/A

SPY

25.79%

Debt to Equity

TLH

N/A

SPY

22.35%

P/S Ratio

TLH

N/A

SPY

3.55

P/B Ratio

TLH

N/A

SPY

5.29

TLH vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	TLH	SPY
1 month	-0.32%	+9.11%
3 months	-0.55%	+6.59%
6 months	-0.73%	+10.56%
1 year	+4.67%	+32.04%
5 years(CAGR)	-3.66%	+13.35%
10 years(CAGR)	-0.68%	+15.49%
Max(CAGR)	+2.94%	+8.50%

TLH

-0.32%

Winner

SPY

+9.11%

TLH

-0.55%

Winner

SPY

+6.59%

TLH

-0.73%

Winner

SPY

+10.56%

TLH

+4.67%

Winner

SPY

+32.04%

5Y(CAGR)

TLH

-3.66%

Winner

SPY

+13.35%

10Y(CAGR)

TLH

-0.68%

Winner

SPY

+15.49%

Max(CAGR)

TLH

+2.94%

Winner

SPY

+8.50%

TLH vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	TLH	SPY
2026	+0.21%	+8.27%
2025	+6.28%	+18.00%
2024	-3.73%	+25.59%
2023	+2.39%	+26.72%
2022	-23.85%	-18.64%
2021	-5.33%	+30.52%
2020	+12.93%	+17.28%
2019	+9.81%	+31.09%
2018	+0.83%	-5.24%
2017	+4.08%	+20.78%
2016	+0.35%	+13.59%
2015	+0.59%	+1.31%
2014	+13.85%	+14.56%
2013	-7.64%	+29.00%
2012	+4.58%	+14.17%
2011	+22.09%	+0.85%
2010	+9.59%	+13.14%
2009	-7.01%	+22.67%
2008	+19.24%	-36.25%
2007	+9.49%	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

TLH vs SPY Drawdown Comparison

The maximum drawdown for TLH was -41.13%, occurring on Oct 19, 2023. This drawdown has not yet recovered.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current TLH drawdown is -29.43%.

Rank	TLH	SPY
#1	-41.13% Aug 4, 2020 - Oct 19, 2023	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-14.27% Dec 30, 2008 - Jun 30, 2010	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-11.83% Mar 9, 2020 - Jul 23, 2020	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-11.81% Jul 24, 2012 - Oct 13, 2014	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-11.56% Jul 8, 2016 - May 30, 2019	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-10.72% Aug 31, 2010 - Aug 2, 2011	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-7.30% Sep 17, 2008 - Nov 20, 2008	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-6.63% Sep 22, 2011 - Dec 19, 2011	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-6.59% Jan 30, 2015 - Jan 29, 2016	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-6.19% Mar 20, 2008 - Sep 4, 2008	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-5.64% Dec 19, 2011 - May 9, 2012	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-5.62% Sep 4, 2019 - Jan 31, 2020	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-5.52% Mar 7, 2007 - Aug 21, 2007	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-3.87% Nov 26, 2007 - Jan 8, 2008	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-3.47% Jan 22, 2008 - Mar 12, 2008	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between TLH and SPY is 0.47 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.47

-101

Dividend Comparison (1999 - 2026)

TLH vs SPY dividend yield comparison.

Year	TLH	SPY
2026	1.47%	0.24%
2025	4.17%	1.07%
2024	4.28%	1.21%
2023	3.83%	1.40%
2022	2.78%	1.65%
2021	1.50%	1.20%
2020	2.65%	1.52%
2019	2.31%	1.75%
2018	2.17%	2.04%
2017	1.83%	1.80%
2016	1.91%	2.03%
2015	2.13%	2.06%
2014	2.12%	1.87%
2013	2.41%	1.81%
2012	2.22%	2.18%
2011	2.78%	2.05%
2010	3.61%	1.80%
2009	3.90%	1.95%
2008	3.57%	3.02%
2007	4.41%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%