[kgwgk]

> The annualized returns of bond ETFs cannot be relied upon because

The annualized returns are calculated from the prices you pay when you buy and the price you get when you sell. Whatever you think they do seems irrelevant. The fact is that you put $100 in 2002 and you get $250 in 2020 (if you reinvest the money they give you every month - if you spend it you will have only $140 left but that doesn't seem the right way to calculate things).

> also you don't get coupon payments on ETFs.

You get distributions. You know that, right?

> Take a look for yourself, the TLT fund was ~99% 1.8 10YR treasuries

That would be remarkable for an ETF that "seeks to track the investment results of an index composed of U.S. Treasury bonds with remaining maturities greater than twenty years." Where do you suggest that I look?

The price of the TLT share has dropped more than 50% from July 2020 to October 2023. Imagine if they had not been manipulating the price! (In total returns terms it's slightly better but not that much: a 48% drawdown.)