IWM vs TLT — 21-Year Performance Comparison
US Small-Cap vs Long-Term Treasuries — backtested 2004–2024
IWM wins$52,741 vs $20,150 on $10,000 over 21 years
IWMUS Small-Cap
Final value$52,741
CAGR+8.2%
Max drawdown-35.3%
Best year+39% (2013)
Years won14 of 21
TLTLong-Term Treasuries
Final value$20,150
CAGR+3.4%
Max drawdown-38.0%
Best year+34% (2011)
Years won7 of 21
Growth of $10,000
2004–2024IWMTLT
IWM$52,741
TLT$20,150
50/50 mix$38,642
50/50 blend: $38,642 (+6.6%/yr CAGR)
Splitting equally between IWM and TLT would have landed between the two — slightly lower CAGR than IWM but less volatility. Try a custom split →
Year-by-year: IWM vs TLT
| Year | IWM | TLT | Winner |
|---|---|---|---|
| 2024 | +11.4% | -8.1% | IWM |
| 2023 | +16.8% | +2.8% | IWM |
| 2022 | -20.5% | -31.2% | IWM |
| 2021 | +14.5% | -4.6% | IWM |
| 2020 | +20.0% | +18.1% | IWM |
| 2019 | +25.4% | +14.1% | IWM |
| 2018 | -11.1% | -1.6% | TLT |
| 2017 | +14.6% | +9.2% | IWM |
| 2016 | +21.6% | +1.2% | IWM |
| 2015 | -4.5% | -1.8% | TLT |
| 2014 | +5.0% | +27.3% | TLT |
| 2013 | +38.7% | -13.4% | IWM |
| 2012 | +16.7% | +2.6% | IWM |
| 2011 | -4.4% | +34.0% | TLT |
| 2010 | +26.9% | +9.1% | IWM |
| 2009 | +28.5% | -21.8% | IWM |
| 2008 | -34.2% | +33.9% | TLT |
| 2007 | -1.8% | +10.3% | TLT |
| 2006 | +18.3% | +0.7% | IWM |
| 2005 | +4.5% | +8.8% | TLT |
| 2004 | +18.1% | +7.9% | IWM |
More comparisons
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