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% | 29.05M | Nov 2024 | TLTW vs PEPS | |
| State Street US Equity Premium Income ETF | 0.25% | 46.39M | Sep 2024 | TLTW vs SPIN | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 329.53M | Mar 2024 | TLTW vs IVVW | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 198.84M | Apr 2024 | TLTW vs FYEE | |
| Global X Treasury Bond Enhanced Income ETF | 0.29% | — | Jul 2025 | TLTW vs TLTX |
Best Risk-Adjusted Alternatives to TLTW
TLTW has a PortfoliosLab risk / return rank of 21. There are 138 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| SoFi Enhanced Yield ETF | 96 | 34.73M | Nov 2023 | TLTW vs THTA | |
| Global X S&P 500 Covered Call ETF | 94 | 3.24B | Jun 2013 | TLTW vs XYLD | |
| Invesco S&P 500 BuyWrite ETF | 94 | 358.08M | Dec 2007 | TLTW vs PBP | |
| Simplify Treasury Option Income ETF | 93 | 489.70M | Oct 2022 | TLTW vs BUCK | |
| Global X Russell 2000 Covered Call ETF | 93 | 1.37B | Apr 2019 | TLTW vs RYLD |
Top Performing TLTW Alternatives (YTD)
TLTW is at -1.13% YTD. There are 174 ETFs in the Derivative Income category with higher YTD returns, going as high as 150.89%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill AMD WeeklyPay ETF | 150.89% | 114.09M | Jul 2025 | TLTW vs AMDW | |
| Roundhill ARM WeeklyPay ETF | 133.71% | 22.04M | Oct 2025 | TLTW vs ARMW | |
| YieldMax AMD Option Income Strategy ETF | 90.29% | 382.78M | Sep 2023 | TLTW vs AMDY | |
| YieldMax MRNA Option Income Strategy ETF | 62.69% | 106.87M | Oct 2023 | TLTW vs MRNY | |
| YieldMax Target 12™ Semiconductor Option Income ET... | 59.66% | 64.01M | Dec 2024 | TLTW vs SOXY |
Lowest Volatility Alternatives to TLTW
TLTW has 7.71% 1-year volatility. There are 20 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.47%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 2.47% | 489.70M | Oct 2022 | TLTW vs BUCK | |
| iShares High Yield Corporate Bond Buywrite Strateg... | 2.94% | 112.06M | Aug 2022 | TLTW vs HYGW | |
| FT Vest Laddered Autocallable Barrier & Resilient ... | 3.76% | 289.20M | Apr 2026 | TLTW vs ACYS | |
| FT Vest High Yield & Target Income ETF | 3.81% | 90.28M | Feb 2025 | TLTW vs HYTI | |
| Main Buywrite ETF | 4.87% | 1.30B | Dec 2015 | TLTW vs BUYW |
Lowest Drawdown Alternatives to TLTW
TLTW has a 1-year max drawdown of -5.97%. There are 25 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% | 489.70M | Oct 2022 | TLTW vs BUCK | |
| iShares High Yield Corporate Bond Buywrite Strateg... | -1.82% | 112.06M | Aug 2022 | TLTW vs HYGW | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.28M | Feb 2025 | TLTW vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.30B | Dec 2015 | TLTW vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | TLTW vs THTA |
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 $869B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | Ultrashort Bond | 100 | 2.13% | 99.95B | May 2020 | TLTW vs SGOV | |
| iShares Bitcoin Trust ETF | Cryptocurrency | 2 | -27.17% | 46.52B | Jan 2024 | TLTW vs IBIT | |
| iShares Semiconductor ETF | Semiconductors, Technology Equities | 90 | 68.76% | 44.69B | Jul 2001 | TLTW vs SOXX | |
| iShares Core S&P 500 ETF | S&P 500 | 78 | 11.75% | 869.20B | May 2000 | TLTW vs IVV | |
| iShares Core Dividend Growth ETF | Large Cap Growth Equities, Dividend | 92 | 13.79% | 42.77B | Jun 2014 | TLTW vs DGRO | |
| iShares 20+ Year Treasury Bond ETF | Government Bonds, Long-Term Bond | 7 | -3.18% | 41.54B | Jul 2002 | TLTW vs TLT | |
| iShares Silver Trust | Silver, Precious Metals | 35 | -18.57% | 28.08B | Apr 2006 | TLTW vs SLV | |
| iShares Gold Trust | Gold, Precious Metals | 28 | -6.14% | 59.74B | Jan 2005 | TLTW vs IAU | |
| iShares Russell 2000 ETF | Small Cap Blend Equities | 85 | 20.84% | 80.11B | May 2000 | TLTW vs IWM | |
| iShares MSCI ACWI ETF | Global Equities | 77 | 12.35% | 32.49B | Mar 2008 | TLTW vs ACWI |
Often Compared With TLTW
Investors most often compare TLTW with QQQ, JEPI, SPY. These 20 comparison targets span 16 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