TLT holds Treasuries with over 20 years to maturity, so rising yields have pushed its shares to a record low despite higher income.
Rising long-term Treasury yields hit TLT hard because it holds bonds with more than 20 years left. Higher income cushions some losses but cannot stop price declines when yields jump.
IEF holds 7-10 year Treasuries and has fallen less this year, showing relative resilience as yields rise.
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