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TLT vs IAU: iShares 20+ Year Treasury Bond ETF vs iShares Gold Trust Comparison

Compare TLT (iShares 20+ Year Treasury Bond ETF) and IAU (iShares Gold Trust) by expense ratio, dividend yield, holdings, and more.

Key Differences

  • 1Expense ratio: TLT 0.15% vs IAU 0.25% (TLT is 0.10%p cheaper)
  • 2Dividend yield: TLT 3.31% vs IAU 0%
  • 3Holdings: TLT 50 vs IAU 1

Conclusion

Recommended:TLT

TLT has an overall advantage with lower expense ratio (0.15% vs 0.25%), higher dividend yield (3.31% vs 0%). However, IAU also offers Lower expense ratio than GLD, making it worth considering depending on your portfolio goals.

CategoryTLTIAU
Fund NameiShares 20+ Year Treasury Bond ETFiShares Gold Trust
Current Price......
CategoryBonds & CommoditiesBonds & Commodities
Expense Ratio0.15%0.25%
Dividend Yield3.31%0%
Holdings501

TLT Top Holdings

  1. 1. U.S. 30-Year Treasury Bonds
  2. 2. U.S. 20-Year Treasury Bonds

IAU Top Holdings

  1. 1. Physical Gold

TLT Features

  • •Long-term government bonds
  • •Interest rate sensitive
  • •Safe-haven asset
  • •Hedging tool

IAU Features

  • •Gold investing
  • •Inflation hedge
  • •Safe-haven asset
  • •Low cost

Pros & Cons

TLT

Advantages
  • ✓ Rises when equities fall
  • ✓ Safe-haven asset
  • ✓ Excellent liquidity
Disadvantages
  • ⚠ Rising interest rate risk
  • ⚠ Inflation risk
  • ⚠ High duration

IAU

Advantages
  • ✓ Lower expense ratio than GLD
  • ✓ Inflation defense
  • ✓ Portfolio diversification
Disadvantages
  • ⚠ No interest income
  • ⚠ Storage costs
  • ⚠ Disadvantaged during dollar strength

Investment Strategy

Best For: TLT

For risk hedging; bet on falling rates; 10-20% of total portfolio

Best For: IAU

Allocate 5-10% of portfolio to gold; alternative to GLD

Detailed Analysis

1. 분석

TLT (iShares 20+ Year Treasury Bond ETF) and IAU (iShares Gold Trust) Both belong to the Bonds & Commodities category, covering a similar investment area but with different strategies. TLT: iShares 20+ Year Treasury Bond ETF (TLT) is an exchange-traded fund that provides investors with exposure to bonds, gold, and other commodities. It carries an expense ratio of 0.15%. The fund offers a dividend yield of approximately 3.31%. The portfolio holds 50 securities. With an expense ratio of 0.15% and dividend yield of 3.31%, its top holdings include U.S. 30-Year Treasury Bonds, U.S. 20-Year Treasury Bonds. Key features include Long-term government bonds, Interest rate sensitive, with Rises when equities fall being a major advantage. IAU: iShares Gold Trust (IAU) is an exchange-traded fund that provides investors with exposure to bonds, gold, and other commodities. It carries an expense ratio of 0.25%. The portfolio holds 1 securities. With an expense ratio of 0.25% and dividend yield of 0%, top holdings include Physical Gold. Notable features are Gold investing, Inflation hedge, with Lower expense ratio than GLD as a core strength. In terms of expense ratio, TLT is 0.10%p cheaper, which can lead to significant cost savings through compounding over long-term investment. Over 20 years with a $100,000 investment, this difference can amount to thousands of dollars.

2. 추천

TLT is suitable for For risk hedging; bet on falling rates; 10-20% of total portfolio, while IAU is suitable for Allocate 5-10% of portfolio to gold; alternative to GLD. Since both ETFs are in the same category, choosing one for your portfolio is more efficient. Base your decision on expense ratio, liquidity, and issuer preference. For beginners, we recommend a core-satellite strategy: choose a low-cost, well-diversified ETF as your core holding, and allocate the rest to satellite positions.

3. 결론

Both TLT and IAU are excellent ETFs for their respective investment objectives. The key is to choose based on your investment goals, time horizon, and risk tolerance. Rather than focusing on a single metric (dividend yield, fees, etc.), evaluate from a holistic portfolio perspective. Use our rebalancing calculator to easily determine the optimal asset allocation including both ETFs.

TLT vs IAU Investment Guide

Both TLT and IAU are popular US ETFs, but they differ in investment strategy and portfolio role. TLT has an expense ratio of 0.15%, while IAU charges 0.25%, giving TLT a cost advantage. In terms of dividend yield, TLT offers 3.31% while IAU offers 0%, making TLT the better choice for income investors.

When choosing between the two, consider your investment goals, time horizon, and risk tolerance. If long-term growth is your priority, favor the ETF with lower fees and broader diversification. If you need steady cash flow, the higher-yielding ETF may be more suitable. You can also hold both in your portfolio for a complementary approach.

Regardless of which ETF you choose, maintaining your target allocation through regular rebalancing is key to long-term performance. Review your portfolio quarterly or semi-annually, and adjust if weights have drifted significantly. Our rebalancing calculator can automatically determine the buy/sell quantities for each holding.

5 Things to Check When Comparing ETFs

1.

Expense Ratio: Even a 0.1% difference in fees can translate to thousands of dollars over long-term investing. When two ETFs track a similar index, the lower-cost option has the edge.

2.

Tracking Index & Holdings: Even ETFs in the same category may track different indices. Review the top holdings and sector weights to find the best fit for your investment goals.

3.

Dividend Policy: Compare dividend frequency (monthly vs quarterly), yield, and dividend growth rate. Monthly dividend ETFs may be preferable if you need regular cash flow.

4.

Trading Volume & Liquidity: Sufficient daily trading volume ensures you can buy and sell at fair prices. Low-volume ETFs may have wider bid-ask spreads, increasing your trading costs.

5.

Portfolio Role: Determine whether the ETF serves as a core or satellite holding in your portfolio, and size your position accordingly.

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Related Content

TLT Detail Analysis
ETF Details
IAU Detail Analysis
ETF Details
ETF Selection Guide
Investment Guide