iShares 20+ Year Treasury Bond ETFTLT

iShares 20+ Year Treasury Bond ETF (TLT) holds long-duration US Treasury bonds with at least 20 years to maturity. It is one of the most-traded ways to express a view on long-term US interest rates: TLT rises when long rates fall, and falls when they rise. Long-duration bonds are very sensitive to rate moves — TLT can be far more volatile than shorter-dated bond funds. It is used both as a tactical rates trade and as a portfolio hedge against severe equity stress.