iShares 20+ Year Treasury Bond ETF (TLT)
Bonds — Long Treasuries · Benchmark: Bloomberg US Agg Bond Index · Domiciled in US
VMCI-Composite holdings score
ValueMarkers builds the VMCI-Composite by taking the underlying VMCI score for each of the ETF's top-10 holdings and weighting it by the holding's share of the fund. The number summarizes the fundamentals of the largest positions on the five-pillar framework — Value, Quality, Integrity, Growth, Risk.
iShares 20+ Year Treasury Bond ETF — analysis
Top-line read on TLT: $34.1B of investor capital sitting inside the bonds — long treasuries iShares 20+ Year Treasury Bond ETF fund, with the issuer charging 54 bps on top of total expenses each year. Inception 2014-04-15, benchmark Bloomberg US Agg Bond Index.
On the underlying-fundamentals lens, TLT prints VMCI-Composite 61/100. The composite is a weighted mean of the top-10 holdings' VMCI scores, so a higher number indicates the fund's largest positions screen well on the five-pillar framework against Bloomberg US Agg Bond Index alternatives.
Against Bloomberg US Agg Bond Index, TLT compounded 17.1% per year over five years (benchmark: 16.0%). Tracking quality on the bonds — long treasuries sleeve reads fair on that single statistic.
TLT income summary: 1.60% trailing yield, distributions up 5.1% per year over five years. The yield sits in the mid-yield band for the bonds — long treasuries cohort.
Concentration: top-10 holdings represent 31% of TLT, with AAPL as the largest position at 3.63% of the fund. The sector tilt leans to Technology (33%), which is the dominant exposure investors should size around.
Direct peer set for TLT: IEF, SHY. The comparison is most useful on three lines — expense ratio, tracking error to Bloomberg US Agg Bond Index, and distribution behaviour over five years.
Top 25 holdings
| # | Ticker | Weight | VMCI |
|---|---|---|---|
| 1 | AAPL | 3.63% | 56 |
| 2 | MSFT | 3.77% | 84 |
| 3 | NVDA | 3.43% | 53 |
| 4 | AMZN | 3.38% | 60 |
| 5 | GOOGL | 3.09% | 46 |
| 6 | META | 2.89% | 47 |
| 7 | BRK-B | 3.04% | 68 |
| 8 | TSLA | 2.70% | 76 |
| 9 | V | 2.65% | 48 |
| 10 | JPM | 2.55% | 67 |
| 11 | UNH | 2.25% | 73 |
| 12 | XOM | 2.01% | 60 |
| 13 | JNJ | 2.01% | 52 |
| 14 | PG | 1.91% | 71 |
| 15 | MA | 1.62% | 44 |
| 16 | HD | 1.57% | 52 |
| 17 | MRK | 1.47% | 86 |
| 18 | AVGO | 1.18% | 59 |
| 19 | PEP | 1.13% | 45 |
| 20 | COST | 0.88% | 87 |
| 21 | KO | 0.69% | 86 |
| 22 | WMT | 0.83% | 74 |
| 23 | BAC | 0.69% | 54 |
| 24 | CVX | 0.34% | 47 |
| 25 | ADBE | 0.29% | 66 |
Performance & income
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Data refreshed at request time and cached for 6 hours. As of 2026-05-15.