TLT Stock: iShares 20+ Year Treasury Bond ETF Profile & Analysis (2026)
A liquid exchange-traded fund tracking the performance of long-term U.S. Treasury bonds with remaining maturities of twenty years or more — Updated May 2026 with current AUM, expense ratio, holdings, and performance data.
The iShares 20+ Year Treasury Bond ETF (TLT) is one of the most widely followed fixed-income instruments in the financial markets, providing investors with exposure to long-dated U.S. government debt. As a cornerstone of the bond market, TLT serves as a primary vehicle for managing interest rate risk and seeking a “safe haven” during periods of equity market volatility. While many investors look at a complete list of utilities listed on U.S. exchanges for defensive dividend yield, TLT offers a direct bet on the direction of long-term interest rates with the full backing of the U.S. Treasury.
Since its inception in 2002, TLT has become a benchmark for long-term Treasury performance. It is particularly sensitive to shifts in the federal funds rate and inflation expectations, making it a favorite for both tactical traders and institutional portfolios. Investors seeking to diversify beyond fixed income might explore a complete list of semiconductor companies listed on U.S. exchanges for growth, but TLT remains the gold standard for those prioritizing capital preservation via sovereign debt. Its sensitivity to interest rates, known as duration, makes it a powerful tool for hedging against an economic slowdown.
Key Takeaways — TLT Stock
TLT tracks long-dated bonds, making it highly sensitive to interest rate changes; its price generally rises when rates fall and vice-versa.
The underlying assets are U.S. Treasury bonds, which are considered among the safest investments in the world regarding default risk.
With over $43 billion in AUM and massive daily trading volume, TLT offers efficient entry and exit points for all types of investors.
The fund pays out interest income on a monthly basis, currently providing a dividend yield of approximately 4.43%.
TLT — Live Price Chart
Real-time chart from TradingView.
TLT ETF Vitals & Key Statistics
Core data as of May 2026.
| Data Point | Value | Data Point | Value |
|---|---|---|---|
| Full Name | iShares 20+ Year Treasury Bond ETF | Ticker | TLT |
| Issuer | iShares (BlackRock) | Asset Class | Fixed Income / Long Government (Long-Term Treasury Bonds) |
| Index Tracked | ICE U.S. Treasury 20+ Year Bond Index | Structure | Open-Ended Investment Company |
| Expense Ratio | 0.15% | AUM | ~$43.05B |
| Inception Date | July 22, 2002 | Exchange | AMEX |
| No. of Holdings | 47 | Dividend Yield | 4.43% |
| 52-Week High | $92.19 | 52-Week Low | $82.77 |
| Avg Daily Volume | 30.66 million shares | YTD Return | 1.40% |
| 1-Year Return | 4.88% | 5-Year Return | 8.37% |
| Category | Bond ETF | Dividend Frequency | Monthly |
TLT Top 10 Holdings (May 2026)
Largest positions by weight. Click columns to sort.
| Rank | Ticker | Company Name | Sector | Weight % |
|---|---|---|---|---|
| 1 | BOND | US Treasury Bond 2045 4.125% | Treasury | 4.65% |
| 2 | BOND | US Treasury Bond 2044 4.75% | Treasury | 4.51% |
| 3 | BOND | US Treasury Bond 2045 4.75% | Treasury | 4.47% |
| 4 | BOND | US Treasury Bond 2044 4.625% | Treasury | 4.42% |
| 5 | BOND | US Treasury Bond 2051 1.875% | Treasury | 4.27% |
| 6 | BOND | US Treasury Bond 2052 2% | Treasury | 4.19% |
| 7 | BOND | US Treasury Bond 2051 4.25% | Treasury | 4.10% |
| 8 | BOND | US Treasury Bond 2050 4.25% | Treasury | 4.00% |
| 9 | BOND | US Treasury Bond 2049 3.625% | Treasury | 3.87% |
| 10 | BOND | US Treasury Bond 2050 4.625% | Treasury | 3.86% |
TLT — Pros & Cons
✓ Safe Haven Asset
Treasuries are backed by the U.S. government, making them a primary destination for safety during market turmoil.
✗ Interest Rate Sensitivity
Because it holds long-dated bonds, TLT can see significant price drops if the Fed raises interest rates.
✓ Monthly Income
The fund distributes cash monthly, which is beneficial for investors looking to supplement their income.
✗ Inflation Risk
Persistent inflation can erode the real value of bond interest payments, negatively impacting the ETF’s performance.
✓ Market Liquidity
It is one of the most liquid bond ETFs available, allowing for large-scale trading with minimal price impact.
✗ Opportunity Cost
In strong bull markets for stocks or commodities, TLT may significantly underperform other asset classes.
Who Should Consider TLT?
Investors seeking a hedge against equity market volatility or those betting that interest rates will trend lower.
Investors who believe interest rates will rise sharply or those who cannot tolerate price volatility in their “safe” assets.
You want to capitalize on a flight-to-safety trade or an economic environment marked by slowing growth and cooling inflation.
Effective in tax-deferred accounts like IRAs where monthly interest payments can grow without immediate tax consequences.
TLT vs Similar ETFs
Key metrics comparison.
| ETF | Full Name | Expense Ratio | AUM | Holdings | Div Yield | YTD | Best For |
|---|---|---|---|---|---|---|---|
| TLT ★ | iShares 20+ Year Treasury Bond ETF | 0.15% | $43.05B | 47 | 4.43% | 1.40% | Highly liquid long-term exposure |
| VGLT | Vanguard Long Term Treasury ETF | 0.03% | $18.2B | 75 | 4.45% | 1.45% | Low-cost passive hold |
| EDV | Vanguard Extended Duration Treasury ETF | 0.05% | $4.1B | 80 | 4.50% | 1.60% | Max duration exposure |
| IEF | iShares 7-10 Year Treasury Bond ETF | 0.15% | $28.5B | 13 | 4.10% | 1.10% | Intermediate-term risk |
TLT Technical Analysis
Real-time buy/sell signals.
TLT — Risks & Considerations
Duration Risk
Because the fund holds bonds with 20+ years to maturity, its price is highly volatile. A 1% increase in rates can cause a double-digit percentage drop in NAV.
Opportunity Cost
In high-growth economies, fixed-income assets like TLT may underperform compared to equities or sectors like a complete list of food and beverage companies listed on U.S. exchanges.
Federal Reserve Policy
Decisions by the Fed to tighten monetary policy or raise the federal funds rate usually act as a direct headwind for TLT prices.
Purchasing Power Risk
If inflation remains higher than the yield of the bonds, the real return of the investment could be negative over time.