APRD vs. TLTW

Last updated Jun 5, 2026

APRD (Innovator Premium Income 10 Barrier ETF - April) and TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) are both Options Trading funds. APRD is actively managed, while TLTW is passively managed. APRD charges 0.79%/yr vs 0.35%/yr for TLTW.

Performance

APRD vs. TLTW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 10 Barrier ETF - April (APRD) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

APRD

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TLTW

• 1D: 0.23%
• 1M: 0.48%
• YTD: 1.44%
• 6M: 0.46%
• 1Y: 9.58%
• 3Y*: 0.85%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

APRD vs. TLTW - Yearly Performance Comparison

	2026 (YTD)
APRD Innovator Premium Income 10 Barrier ETF - April	0.00%
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF	0.44%

Return for Risk

APRD vs. TLTW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TLTW

TLTW Risk / Return Rank: 34
TLTW Sharpe Ratio Rank: 36
TLTW Sortino Ratio Rank: 35
TLTW Omega Ratio Rank: 34
TLTW Calmar Ratio Rank: 33
TLTW Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

APRD vs. TLTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 10 Barrier ETF - April (APRD) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	APRD	TLTW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.02	—

Drawdowns

APRD vs. TLTW - Drawdown Comparison

The maximum APRD drawdown since its inception was 0.00%, smaller than the maximum TLTW drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for APRD and TLTW.

Drawdown Indicators

	APRD	TLTW	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-18.61%	+18.61%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.97%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.19%	—
Current Drawdown Current decline from peak	0.00%	-2.98%	+2.98%
Average Drawdown Average peak-to-trough decline	0.00%	-8.25%	+8.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.00%	—

Volatility

Volatility by Period

	APRD	TLTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.79%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	7.70%	-7.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	11.39%	-11.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	11.39%	-11.39%

APRD vs. TLTW - Expense Ratio Comparison

APRD has a 0.79% expense ratio, which is higher than TLTW's 0.35% expense ratio.

Dividends

APRD vs. TLTW - Dividend Comparison

APRD has not paid dividends to shareholders, while TLTW's dividend yield for the trailing twelve months is around 11.73%.

Position	TTM	2025	2024	2023	2022
APRD Innovator Premium Income 10 Barrier ETF - April	0.00%	0.00%	0.00%	0.00%	0.00%
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF	11.73%	14.82%	14.47%	19.59%	8.71%

Frequently Asked Questions

Which ETF is better, APRD or TLTW?

On fees, TLTW is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, APRD or TLTW?

TLTW is cheaper with a 0.35% expense ratio, compared with 0.79% for APRD.

Which ETF pays a higher dividend yield, APRD or TLTW?

TLTW has the higher dividend yield at 11.73%, compared with 0.00% for APRD.

What is the main difference between APRD and TLTW?

They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for APRD and 0.35% for TLTW.