What is the expense ratio of IWD vs TLT?

IWD has an expense ratio of 0.18%, while TLT has an expense ratio of 0.15%.

IWD vs TLT

iShares Russell 1000 Value ETF vs iShares 20+ Year Treasury Bond ETF

Last updated: 2026-04-02

IWD iShares

iShares Russell 1000 Value ETF (IWD) is an exchange-traded fund issued by iShares that provides exposure to large-cap U.S. value stocks trading at below-market valuations. It charges a moderate expense ratio of 0.18%. The fund offers a moderate dividend yield of 1.67%. Launched in 2000, the fund has a 26-year track record.

AUM: $68.2B ER: 0.18% Yield: 1.67% Since: May 22, 2000

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 4.51%. Launched in 2002, the fund has a 24-year track record.

AUM: $41.7B ER: 0.15% Yield: 4.51% Since: Jul 22, 2002

Quick Verdict

TLT has a slightly lower expense ratio (0.15% vs 0.18%), saving about $59 per $10,000 over 10 years. Over the past year, IWD has significantly outperformed with a 14.4% return vs -5.7%. Income investors may prefer TLT for its higher yield (4.5% vs 1.7%).

Key Metrics

Metric	IWD	TLT
Expense Ratio	0.18%	0.15%
Dividend Yield	1.7%	4.5%
Fund Family	iShares	iShares
Category	US Large Cap Value	US Long-Term Treasury

Performance Chart

Indexed to 100 at start (5-year comparison)

IWD +39.4%

TLT -37.0%

Performance Comparison

Period	IWD	TLT	Difference
1 Month	-4.53%	-3.74%	-0.79%
3 Months	+1.29%	-0.88%	+2.17%
6 Months	+4.87%	-3.49%	+8.36%
YTD	+1.29%	-0.88%	+2.17%
1 Year	+14.39%	-5.72%	+20.11%
3 Years	+40.40%	-19.08%	+59.48%
5 Years	+39.38%	-37.00%	+76.38%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment	Period	IWD Fees	TLT Fees	You Save
$10.000	10 years	$357	$298	$59
$10.000	20 years	$1.529	$1.278	$252
$10.000	30 years	$4.912	$4.109	$802
$50.000	10 years	$1.786	$1.490	$296
$50.000	30 years	$24.558	$20.547	$4.011
$100.000	30 years	$49.116	$41.094	$8.022

Risk Metrics

Based on 5 years of daily returns

Metric	IWD	TLT
Annualized Volatility	14.9%	15.9%
Max Drawdown	-20.3%	-46.4%
Sharpe Ratio	0.22	-0.79

Dividend Comparison

Metric	IWD	TLT
Annual Dividend (per share)	$3.58	$3.89
Dividend Yield	1.67%	4.51%
Distribution Frequency	Quarterly	Monthly

Top Holdings

IWD Top Holdings

Name	Weight
Berkshire Hathaway Inc.BRK.B	2.89%
JPMorgan Chase & Co.JPM	2.57%
Exxon Mobil CorporationXOM	2.42%
Johnson & JohnsonJNJ	1.94%
Amazon.com, Inc.AMZN	1.76%
Walmart Inc.WMT	1.61%
Alphabet Inc.GOOG	1.54%
Micron Technology, Inc.MU	1.34%
Chevron CorporationCVX	1.32%

Which One Should You Choose?

Choose TLT if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose IWD if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Choose TLT if...

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

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