# TLT vs IDTL vs DTLA: which ETF for UAE residents?

Source page: https://www.rudowealth.com/etf/compare/tlt-vs-idtl-vs-dtla

All three funds track the ICE US Treasury 20+ Year index, so their returns move almost together. Long bonds move a lot when interest rates change. For an investor living in the UAE the differences that matter are cost, domicile, whether income is paid out, and how US tax treats each one.

| ETF | Name | Domicile | Index | Dividends | Expense ratio | Listing |
|---|---|---|---|---|---|---|
| TLT | iShares 20+ Year Treasury Bond ETF | United States | ICE US Treasury 20+ Year | Paid out monthly | 0.15% | Nasdaq, US dollars |
| IDTL | iShares $ Treasury Bond 20+yr UCITS ETF (Dist) | Ireland (UCITS) | ICE US Treasury 20+ Year | Paid out twice a year | 0.07% | London, US dollars |
| DTLA | iShares $ Treasury Bond 20+yr UCITS ETF (Acc) | Ireland (UCITS) | ICE US Treasury 20+ Year | Reinvested (accumulating) | 0.07% | London, US dollars |

Returns in US dollars (3 years and longer annualised):

| ETF | 1 year | 3 years | 5 years | 10 years |
|---|---|---|---|---|
| TLT | -9.53% | +1.13% | -8.24% | -2.67% |
| DTLA | -9.46% | +0.89% | -8.12% | N/A |

What differs for an investor living in the UAE:
- US estate tax. Shares of a US bond ETF count as US assets, even though the fund holds US government bonds; a Treasury bond held directly generally would not. For a person who is not a US citizen or resident, US estate tax can apply above US$60,000 of US assets, at rates that rise to 40%. The Irish UCITS funds are shares of an Irish company and are generally not treated as US assets.
- Tax on the income. Income a US bond fund reports as interest-related dividends is exempt from the 30% US withholding for an investor outside the US who has given a W-8BEN form. iShares reports TLT's 2026 payouts as 100% qualifying and AGG's as about 93%. Whether the exemption is applied depends on the fund's reporting and on your broker: some withhold first, and getting it back means filing a US tax return.
- Paid out or reinvested. The US funds pay income every month. The accumulating Irish funds reinvest it inside the fund, so nothing reaches your account until you sell.
- Cost. Compare the expense ratios above; on funds holding similar bonds, a lower yearly cost is the most certain difference in what you keep.
- The outcome depends on your nationality, residence and facts, so confirm your own position with a tax adviser. Sources: 26 USC 871(k), interest-related dividends (https://www.law.cornell.edu/uscode/text/26/871); IRS Publication 515 (https://www.irs.gov/publications/p515); iShares 2026 qualified interest income memo (https://www.ishares.com/us/literature/tax-information/2026-ishares-monthly-qii-memo-stamped.pdf); IRS, nonresidents with US assets (https://www.irs.gov/individuals/international-taxpayers/some-nonresidents-with-us-assets-must-file-estate-tax-returns).

## Questions

**Do TLT, IDTL and DTLA hold the same bonds?**
Yes. All three track the ICE US Treasury 20+ Year index. The differences are cost (TLT 0.15%, the Irish funds 0.07%), domicile, and whether income is paid out.

**Is income from TLT taxed for a UAE resident?**
Income TLT reports as interest-related dividends is exempt from the 30% US withholding for a non-US investor with a W-8BEN form on file, and iShares reports TLT's 2026 payouts as 100% qualifying. Whether your broker applies the exemption varies, so ask before you buy and confirm your position with a tax adviser.

**Why do long Treasury funds fall when rates rise?**
A bond's price moves the opposite way to interest rates, and the longer the bond, the bigger the move. Funds holding 20-year and longer bonds can fall sharply in a year when rates rise.

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RuDo Wealth is a fee-only cross-border advisory operating through two separate companies. India: RuDo Wealth Investment Advisory, SEBI Registered Investment Adviser, registration INA000019503. UAE: RuDo Digital Wealth, FSRA Financial Services Permission 220155, Category 3C (Retail), ADGM. The entity permitted to serve you depends on your country of residence.

General information, not a recommendation to buy or sell any fund. Past performance does not indicate future returns.