What if you invested in 20+ Year Treasury (TLT) in 2005?
TLT · Bond · Data through 2026-06-01
If you invested $1,000 in 20+ Year Treasury (TLT) in 2005
The same $1,000 in the S&P 500 would be worth $9,342(+834.2%)
The S&P 500 returned $9,342 on the same $1,000. S&P 500 outperformed by $7,459.
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See how 20+ Year Treasury (TLT) stacks up since 2005, head to head.
What if 20+ Year Treasury (TLT) keeps this up?
Project forward at 20+ Year Treasury (TLT)'s 3% historical growth rate. See 5-30 year scenarios.
Growth of $1,000
20+ Year Treasury (TLT) vs. S&P 500 vs. US Dollar, 2005 to present
Year-by-Year Returns
$1,000 invested in 20+ Year Treasury (TLT) starting January 2005
| Year | Price | Value | Annual |
|---|---|---|---|
| 2005 | $45.70 | $1,000 | - |
| 2006 | $47.28 | $1,035 | +3.5% |
| 2007 | $47.78 | $1,045 | +1.1% |
| 2008 | $54.35 | $1,189 | +13.7% |
| 2009 | $61.99 | $1,356 | +14.1% |
| 2010 | $57.26 | $1,253 | -7.6% |
| 2011 | $58.91 | $1,289 | +2.9% |
| 2012 | $81.18 | $1,776 | +37.8% |
| 2013 | $80.76 | $1,767 | -0.5% |
| 2014 | $76.81 | $1,681 | -4.9% |
| 2015 | $101.01 | $2,210 | +31.5% |
| 2016 | $95.37 | $2,087 | -5.6% |
| 2017 | $92.14 | $2,016 | -3.4% |
| 2018 | $96.53 | $2,112 | +4.8% |
| 2019 | $98.55 | $2,156 | +2.1% |
| 2020 | $120.65 | $2,640 | +22.4% |
| 2021 | $127.56 | $2,791 | +5.7% |
| 2022 | $121.34 | $2,655 | -4.9% |
| 2023 | $93.48 | $2,045 | -23% |
| 2024 | $87.24 | $1,909 | -6.7% |
| 2025 | $82.46 | $1,804 | -5.5% |
| 2026 | $85.51 | $1,871 | +3.7% |
What this return means
$1,000 placed in 20+ Year Treasury (TLT) in 2005 is worth $1,884 now. The total return is +88.4% over 21.6 years, as of 2026-06-01.
That is only about 3% a year once you compound it across 21.6 years. The same $1,000 in an S&P 500 index fund would be about $9,342 over the identical span, so the index came out ahead by roughly $7,459. The index compounded at about 10.9% a year, a reminder that a single stock can lag a basket of them.
The year-by-year record shows how bumpy the ride was. The best single year was 2012 at +37.8%, and the worst was 2023 at -23.0%. At its lowest point the position was down about 35% from an earlier high. These figures use split-adjusted closing prices and exclude dividends, taxes, trading fees, and inflation, so a real after-tax result would differ.
None of this is a recommendation. It is a record of what already happened, and past performance does not guarantee future results.
What if you invested $100 a month instead?
Most people do not drop a lump sum in on day one. They add a fixed amount every month. Putting $100 into 20+ Year Treasury (TLT) at the close of every month from January 2005 through June 2026 means 258 buys and $25,800 contributed over about 21.5 years.
$100/month, dollar-cost averaged
$29,354
+13.8% on $25,800 in
Same $25,800, all in at the start
$48,597
+88.4% on $25,800 in
Going all in at the start beat spreading the buys out by $19,243. That is the usual result when a stock trends up: each monthly buy pays a higher price than the last, so the average cost climbs. Averaging in also meant an average buy price of $75.66 per share across the whole stretch, so the monthly buyer never had to time a single low. Neither number counts dividends, taxes, or trading costs.
Illustrative fixed $100/month example, not a recommendation. Figures are computed from TLT split-adjusted monthly closes through June 2026. Past performance does not guarantee future results.
20+ Year Treasury (TLT) at different times
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Numbers worth sharing
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For informational and educational purposes only. Not financial advice. Past performance does not guarantee future results. All calculations are based on split-adjusted closing prices from Yahoo Finance and do not account for dividends, taxes, or trading fees. See our methodology and full disclaimer.