TLT vs VNQ — 20-Year Performance Comparison
Long-Term Treasuries vs Real Estate (REIT) — backtested 2005–2024
VNQ wins$37,027 vs $18,673 on $10,000 over 20 years
TLTLong-Term Treasuries
Final value$18,673
CAGR+3.2%
Max drawdown-38.0%
Best year+34% (2011)
Years won6 of 20
VNQReal Estate (REIT)
Final value$37,027
CAGR+6.8%
Max drawdown-47.3%
Best year+41% (2021)
Years won14 of 20
Growth of $10,000
2005–2024TLTVNQ
TLT$18,673
VNQ$37,027
50/50 mix$31,096
50/50 blend: $31,096 (+5.8%/yr CAGR)
Splitting equally between TLT and VNQ would have landed between the two — slightly lower CAGR than VNQ but less volatility. Try a custom split →
Year-by-year: TLT vs VNQ
| Year | TLT | VNQ | Winner |
|---|---|---|---|
| 2024 | -8.1% | +4.8% | VNQ |
| 2023 | +2.8% | +11.8% | VNQ |
| 2022 | -31.2% | -26.2% | VNQ |
| 2021 | -4.6% | +40.5% | VNQ |
| 2020 | +18.1% | -4.7% | TLT |
| 2019 | +14.1% | +28.9% | VNQ |
| 2018 | -1.6% | -6.0% | TLT |
| 2017 | +9.2% | +4.9% | TLT |
| 2016 | +1.2% | +8.6% | VNQ |
| 2015 | -1.8% | +2.4% | VNQ |
| 2014 | +27.3% | +30.4% | VNQ |
| 2013 | -13.4% | +2.3% | VNQ |
| 2012 | +2.6% | +17.6% | VNQ |
| 2011 | +34.0% | +8.6% | TLT |
| 2010 | +9.1% | +28.4% | VNQ |
| 2009 | -21.8% | +30.1% | VNQ |
| 2008 | +33.9% | -37.0% | TLT |
| 2007 | +10.3% | -16.3% | TLT |
| 2006 | +0.7% | +35.2% | VNQ |
| 2005 | +8.8% | +11.6% | VNQ |
More comparisons
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