iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with TLTW. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to TLTW
TLTW charges 0.35% annually. There are 11 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.10%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Parametric Equity Plus ETF | 0.10% | 29.28M | Nov 2024 | TLTW vs PEPS | |
| State Street US Equity Premium Income ETF | 0.25% | 45.73M | Sep 2024 | TLTW vs SPIN | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 324.77M | Mar 2024 | TLTW vs IVVW | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 198.84M | Apr 2024 | TLTW vs FYEE | |
| Parametric Equity Premium Income ETF | 0.29% | 414.48M | Oct 2023 | TLTW vs PAPI |
Best Risk-Adjusted Alternatives to TLTW
TLTW has a PortfoliosLab risk / return rank of 29. There are 99 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 95.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| SoFi Enhanced Yield ETF | 95 | 34.73M | Nov 2023 | TLTW vs THTA | |
| Simplify Treasury Option Income ETF | 95 | 474.96M | Oct 2022 | TLTW vs BUCK | |
| YieldMax Semiconductor Portfolio Option Income ETF | 94 | 1.16B | Apr 2025 | TLTW vs CHPY | |
| YieldMax AMD Option Income Strategy ETF | 93 | 443.39M | Sep 2023 | TLTW vs AMDY | |
| YieldMax GOOGL Option Income Strategy ETF | 93 | 246.95M | Jul 2023 | TLTW vs GOOY |
Top Performing TLTW Alternatives (YTD)
TLTW is at 0.30% YTD. There are 156 ETFs in the Derivative Income category with higher YTD returns, going as high as 207.86%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill ARM WeeklyPay ETF | 207.86% | 27.86M | Oct 2025 | TLTW vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 184.48% | 116.76M | Jul 2025 | TLTW vs AMDW | |
| YieldMax AMD Option Income Strategy ETF | 109.12% | 443.39M | Sep 2023 | TLTW vs AMDY | |
| YieldMax MRNA Option Income Strategy ETF | 89.76% | 127.56M | Oct 2023 | TLTW vs MRNY | |
| YieldMax Semiconductor Portfolio Option Income ETF | 70.96% | 1.16B | Apr 2025 | TLTW vs CHPY |
Lowest Volatility Alternatives to TLTW
TLTW has 7.62% 1-year volatility. There are 18 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.80%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 2.80% | 474.96M | Oct 2022 | TLTW vs BUCK | |
| FT Vest Laddered Autocallable Barrier & Resilient ... | 3.45% | 206.17M | Apr 2026 | TLTW vs ACYS | |
| FT Vest High Yield & Target Income ETF | 3.86% | 88.48M | Feb 2025 | TLTW vs HYTI | |
| Main Buywrite ETF | 4.86% | 1.26B | Dec 2015 | TLTW vs BUYW | |
| GraniteShares YieldBOOST 20Y+ Treasuries ETF | 5.08% | 726.94K | May 2026 | TLTW vs FIYY |
Lowest Drawdown Alternatives to TLTW
TLTW has a 1-year max drawdown of -5.97%. There are 23 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -0.84%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | -0.84% | 474.96M | Oct 2022 | TLTW vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 88.48M | Feb 2025 | TLTW vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.26B | Dec 2015 | TLTW vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | TLTW vs THTA | |
| VistaShares Target 15™ Berkshire Select Income ETF | -3.00% | 774.36M | Mar 2025 | TLTW vs OMAH |
Other ETFs from iShares
The 10 most viewed iShares ETFs shown here include SGOV, IBIT, SOXX and span 14 categories. AUM among these funds goes as high as $894B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | Ultrashort Bond | 100 | 1.92% | 97.69B | May 2020 | TLTW vs SGOV | |
| iShares Bitcoin Trust ETF | Cryptocurrency | 1 | -29.06% | 46.82B | Jan 2024 | TLTW vs IBIT | |
| iShares Semiconductor ETF | Semiconductors, Technology Equities | 93 | 84.03% | 47.60B | Jul 2001 | TLTW vs SOXX | |
| iShares Core S&P 500 ETF | S&P 500 | 66 | 10.46% | 894.38B | May 2000 | TLTW vs IVV | |
| iShares 20+ Year Treasury Bond ETF | Government Bonds, Long-Term Bond | 13 | -1.48% | 42.18B | Jul 2002 | TLTW vs TLT | |
| iShares Core Dividend Growth ETF | Large Cap Growth Equities, Dividend | 86 | 12.23% | 42.05B | Jun 2014 | TLTW vs DGRO | |
| iShares Silver Trust | Silver, Precious Metals | 27 | -19.03% | 28.37B | Apr 2006 | TLTW vs SLV | |
| iShares Gold Trust | Gold, Precious Metals | 22 | -7.29% | 60.94B | Jan 2005 | TLTW vs IAU | |
| iShares Russell 2000 ETF | Small Cap Blend Equities | 69 | 19.72% | 83.34B | May 2000 | TLTW vs IWM | |
| iShares MSCI ACWI ETF | Global Equities | 63 | 10.93% | 33.36B | Mar 2008 | TLTW vs ACWI |
Often Compared With TLTW
Investors most often compare TLTW with QQQ, JEPI, SPY. These 20 comparison targets span 13 categories, based on PortfoliosLab usage data.
Compare TLTW with Any Fund or Stock
Compare TLTW with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair TLTW with funds that move differently
iShares 20+ Year Treasury Bond BuyWrite Strategy ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to TLTW.
Explore TLTW Diversifiers