TLT vs VWO — 20-Year Performance Comparison
Long-Term Treasuries vs Emerging Markets — backtested 2005–2024
VWO wins$29,877 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
VWOEmerging Markets
Final value$29,877
CAGR+5.6%
Max drawdown-52.5%
Best year+76% (2009)
Years won14 of 20
Growth of $10,000
2005–2024TLTVWO
TLT$18,673
VWO$29,877
50/50 mix$31,521
50/50 blend: $31,521 (+5.9%/yr CAGR)
Splitting equally between TLT and VWO would have outperformed both individually — diversification smoothed the ride. Try a custom split →
Year-by-year: TLT vs VWO
| Year | TLT | VWO | Winner |
|---|---|---|---|
| 2024 | -8.1% | +10.6% | VWO |
| 2023 | +2.8% | +9.3% | VWO |
| 2022 | -31.2% | -18.0% | VWO |
| 2021 | -4.6% | +1.3% | VWO |
| 2020 | +18.1% | +15.2% | TLT |
| 2019 | +14.1% | +20.8% | VWO |
| 2018 | -1.6% | -14.8% | TLT |
| 2017 | +9.2% | +31.5% | VWO |
| 2016 | +1.2% | +12.2% | VWO |
| 2015 | -1.8% | -15.8% | TLT |
| 2014 | +27.3% | -0.0% | TLT |
| 2013 | -13.4% | -4.9% | VWO |
| 2012 | +2.6% | +19.2% | VWO |
| 2011 | +34.0% | -18.7% | TLT |
| 2010 | +9.1% | +19.5% | VWO |
| 2009 | -21.8% | +76.3% | VWO |
| 2008 | +33.9% | -52.5% | TLT |
| 2007 | +10.3% | +37.3% | VWO |
| 2006 | +0.7% | +29.4% | VWO |
| 2005 | +8.8% | +23.5% | VWO |
More comparisons
Build your portfolio
Mix TLT + VWO with custom allocations
Try a 70/30 or 40/60 split — or add up to 3 more ETFs. See exactly how your custom portfolio would have performed.
Open Portfolio Builder →Past performance does not guarantee future results.