TLT vs MUB

Comparison between ISHARES 20+ YEAR TREASURY BOND ETF (TLT, ETF) and ISHARES NATIONAL MUNI BOND ETF (MUB, ETF).

5-Year PerformanceMUB has outperformed TLT, delivering a return of +0.9% compared to -6.1%

TLT vs MUB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	TLT(ETF)	MUB(ETF)
Net Assets	$43B	$43B
Expense Ratio	0.15%	0.05%
Max Drawdown	51.76%	14.39%
Sharpe Ratio	-0.08	0.67
5Y Beta	0.06	0.05
5Y Dividends CAGR	14.06%	9.25%

Net Assets

TLT

$43B

MUB

$43B

Expense Ratio

TLT

0.15%

Winner

MUB

0.05%

Max Drawdown

TLT

51.76%

Winner

MUB

14.39%

Sharpe Ratio

TLT

-0.08

Winner

MUB

0.67

5Y Beta

TLT

0.06

Winner

MUB

0.05

5Y Dividends CAGR

Winner

TLT

14.06%

MUB

9.25%

TLT vs MUB - Historical Returns

Returns include dividend reinvestment.

Period	TLT	MUB
1 month	-0.60%	+0.50%
3 months	-0.56%	+0.07%
6 months	-1.72%	+1.40%
1 year	+3.54%	+6.03%
5 years(CAGR)	-6.10%	+0.88%
10 years(CAGR)	-1.41%	+1.98%
Max(CAGR)	+3.68%	+3.12%

TLT

-0.60%

Winner

MUB

+0.50%

TLT

-0.56%

Winner

MUB

+0.07%

TLT

-1.72%

Winner

MUB

+1.40%

TLT

+3.54%

Winner

MUB

+6.03%

5Y(CAGR)

TLT

-6.10%

Winner

MUB

+0.88%

10Y(CAGR)

TLT

-1.41%

Winner

MUB

+1.98%

Max(CAGR)

Winner

TLT

+3.68%

MUB

+3.12%

TLT vs MUB - Annual Returns (2002 - 2026)

Returns include dividend reinvestment.

Year	TLT	MUB
2026	+0.39%	+0.84%
2025	+3.96%	+3.65%
2024	-7.53%	+1.40%
2023	+0.84%	+5.17%
2022	-29.39%	-7.26%
2021	-4.49%	+1.08%
2020	+16.83%	+5.03%
2019	+13.52%	+7.08%
2018	-0.53%	+1.07%
2017	+8.72%	+4.82%
2016	+0.45%	+0.05%
2015	-2.87%	+3.17%
2014	+26.91%	+9.00%
2013	-12.20%	-4.44%
2012	+4.20%	+5.08%
2011	+34.98%	+12.54%
2010	+9.14%	-0.05%
2009	-19.78%	+7.11%
2008	+32.03%	+0.84%
2007	+9.50%	+1.76%
2006	+0.84%	N/A
2005	+8.37%	N/A
2004	+10.01%	N/A
2003	+4.32%	N/A
2002	+9.75%	N/A

TLT vs MUB Drawdown Comparison

The maximum drawdown for TLT was -48.35%, occurring on Oct 19, 2023. This drawdown has not yet recovered.

The maximum drawdown for MUB was -13.68%, occurring on Mar 19, 2020. Recovery took 100 trading sessions.

The current TLT drawdown is -40.15%. The current MUB drawdown is -0.97%.

Rank	TLT	MUB
#1	-48.35% Aug 4, 2020 - Oct 19, 2023	-13.68% Mar 9, 2020 - Jul 30, 2020
#2	-26.58% Dec 30, 2008 - Aug 18, 2011	-12.33% Sep 9, 2008 - Jan 8, 2009
#3	-20.48% Jul 25, 2012 - Dec 10, 2014	-11.89% Jul 19, 2021 - Dec 4, 2024
#4	-17.88% Jul 8, 2016 - Jul 2, 2019	-9.74% Nov 30, 2012 - Jul 21, 2014
#5	-15.80% Jan 30, 2015 - Jun 9, 2016	-8.86% Aug 25, 2010 - Jul 13, 2011
#6	-15.73% Mar 9, 2020 - Apr 21, 2020	-6.70% Jul 7, 2016 - Dec 21, 2018
#7	-15.69% Jun 13, 2003 - Dec 15, 2004	-5.67% Jan 17, 2008 - May 20, 2008
#8	-10.91% Oct 3, 2011 - Dec 19, 2011	-5.41% Feb 13, 2012 - Sep 28, 2012
#9	-10.82% Jun 30, 2005 - Nov 24, 2006	-4.80% Jan 12, 2009 - Apr 16, 2009
#10	-10.41% Dec 19, 2011 - May 17, 2012	-4.78% Dec 6, 2024 - Sep 10, 2025
#11	-8.63% Apr 21, 2020 - Jul 30, 2020	-3.79% May 20, 2008 - Sep 5, 2008
#12	-8.24% Aug 28, 2019 - Feb 20, 2020	-3.53% May 20, 2009 - Aug 19, 2009
#13	-8.03% Dec 4, 2006 - Aug 31, 2007	-3.16% Sep 30, 2009 - Apr 21, 2010
#14	-7.49% Mar 20, 2008 - Sep 4, 2008	-2.94% Jan 30, 2015 - Nov 23, 2015
#15	-6.68% Sep 24, 2002 - Feb 20, 2003	-2.79% Feb 26, 2026 - Mar 26, 2026

Correlation

Correlation between TLT and MUB is 0.78 which considered as a strong positive correlation - the stocks tend to move together.

0.78

-101

Dividend Comparison (2002 - 2026)

TLT vs MUB dividend yield comparison.

Year	TLT	MUB
2026	1.50%	1.07%
2025	4.43%	3.14%
2024	4.30%	3.01%
2023	3.38%	2.65%
2022	2.67%	2.11%
2021	1.50%	1.81%
2020	1.50%	2.11%
2019	2.27%	2.42%
2018	2.63%	2.46%
2017	2.43%	2.26%
2016	2.60%	2.21%
2015	2.61%	2.51%
2014	2.67%	2.73%
2013	3.26%	3.02%
2012	2.68%	2.89%
2011	3.30%	3.31%
2010	4.16%	3.80%
2009	4.05%	3.61%
2008	3.49%	3.54%
2007	4.50%	1.15%
2006	4.52%	0.00%
2005	4.55%	0.00%
2004	4.68%	0.00%
2003	5.30%	0.00%
2002	2.19%	0.00%