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CXW vs. TLTW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CXW vs. TLTW

Last updated Jun 4, 2026

CXW (CoreCivic, Inc.) is a stock, while TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) is Options Trading fund tracking the CBOE TLT 2% OTM Buywrite Index (USD). Over the past 3 years, CXW returned 34.56%/yr vs 0.74%/yr for TLTW. At a 0.08 correlation, their price movements are largely independent.

Performance

CXW vs. TLTW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CoreCivic, Inc. (CXW) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CXW achieves a 13.61% return, which is significantly higher than TLTW's 1.21% return.

CXW

1D
1.69%
1M
7.74%
YTD
13.61%
6M
16.72%
1Y
-1.09%
3Y*
34.56%
5Y*
19.18%
10Y*
-1.08%

TLTW

1D
-0.23%
1M
0.76%
YTD
1.21%
6M
-0.20%
1Y
10.46%
3Y*
0.74%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CXW vs. TLTW - Yearly Performance Comparison

2026 (YTD)2025202420232022
CXW
CoreCivic, Inc.		13.61%-12.10%49.62%25.69%18.56%
TLTW
iShares 20+ Year Treasury Bond BuyWrite Strategy ETF		1.21%11.36%-2.18%0.73%-11.09%

Correlation

The correlation between CXW and TLTW is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.04

Correlation (3Y)
Calculated over the trailing 3-year period

0.10

Correlation (All Time)
Calculated using the full available price history since Aug 23, 2022

0.08

Compare stocks, funds, or ETFs

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CoreCivic, Inc.

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF

Often compared with CXW:
CXW vs. GEOCXW vs. SPYCXW vs. VOOCXW vs. IRMCXW vs. MACCXW vs. AMZNCXW vs. ARM
Often compared with TLTW:
TLTW vs. TLTTLTW vs. QQQTLTW vs. JEPITLTW vs. SPYTLTW vs. LQDWTLTW vs. QYLDTLTW vs. HYGW

Return for Risk

CXW vs. TLTW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CXW
CXW Risk / Return Rank: 3737
Overall Rank
CXW Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
CXW Sortino Ratio Rank: 3535
Sortino Ratio Rank
CXW Omega Ratio Rank: 3535
Omega Ratio Rank
CXW Calmar Ratio Rank: 3838
Calmar Ratio Rank
CXW Martin Ratio Rank: 3838
Martin Ratio Rank
TLTW
TLTW Risk / Return Rank: 3636
Overall Rank
TLTW Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
TLTW Sortino Ratio Rank: 3737
Sortino Ratio Rank
TLTW Omega Ratio Rank: 3535
Omega Ratio Rank
TLTW Calmar Ratio Rank: 3535
Calmar Ratio Rank
TLTW Martin Ratio Rank: 3434
Martin Ratio Rank
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.

CXW vs. TLTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CoreCivic, Inc. (CXW) 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.

CXWTLTWDifference
Sharpe ratioReturn per unit of total volatility
-0.03
1.37

-1.40

Sortino ratioReturn per unit of downside risk
0.22
1.96

-1.75

Omega ratioGain probability vs. loss probability

1.03

1.24

-0.21

Calmar ratioReturn relative to maximum drawdown

-0.04

1.76

-1.80

Martin ratioReturn relative to average drawdown

-0.08

5.28

-5.35

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CXW vs. TLTW - Sharpe Ratio Comparison

The current CXW Sharpe Ratio is -0.03, which is lower than the TLTW Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of CXW and TLTW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CXWTLTWDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.03

1.37

-1.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.44

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.02

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.01

-0.03

+0.04

Drawdowns

CXW vs. TLTW - Drawdown Comparison

The maximum CXW drawdown since its inception was -98.54%, which is greater than TLTW's maximum drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for CXW and TLTW.

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Drawdown Indicators

CXWTLTWDifference

Max Drawdown

Largest peak-to-trough decline

-98.54%

-18.61%

-79.93%

Max Drawdown (1Y)

Largest decline over 1 year

-28.41%

-5.97%

-22.44%

Max Drawdown (3Y)

Largest decline over 3 years

-32.62%

-17.19%

-15.43%

Max Drawdown (5Y)

Largest decline over 5 years

-39.68%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-77.93%

—

—

Current Drawdown

Current decline from peak

-26.03%

-3.20%

-22.83%

Average Drawdown

Average peak-to-trough decline

-56.73%

-8.25%

-48.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

14.06%

1.99%

+12.07%

Volatility

CXW vs. TLTW - Volatility Comparison

CoreCivic, Inc. (CXW) has a higher volatility of 15.37% compared to iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) at 2.48%. This indicates that CXW's price experiences larger fluctuations and is considered to be riskier than TLTW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CXWTLTWDifference

Volatility (1M)

Calculated over the trailing 1-month period

15.37%

2.48%

+12.89%

Volatility (6M)

Calculated over the trailing 6-month period

28.12%

5.79%

+22.33%

Volatility (1Y)

Calculated over the trailing 1-year period

36.74%

7.70%

+29.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

44.05%

11.39%

+32.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

49.20%

11.39%

+37.81%

Dividends

CXW vs. TLTW - Dividend Comparison

CXW has not paid dividends to shareholders, while TLTW's dividend yield for the trailing twelve months is around 11.76%.

PositionTTM20252024202320222021202020192018201720162015
CXW
CoreCivic, Inc.		0.00%0.00%0.00%0.00%0.00%0.00%13.44%7.59%9.65%7.47%8.34%8.15%
TLTW
iShares 20+ Year Treasury Bond BuyWrite Strategy ETF		11.76%14.82%14.47%19.59%8.71%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

CXW and TLTW have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CXW has higher volatility (15.37%) compared to TLTW (2.48%). In terms of maximum drawdown, CXW dropped -98.54% vs TLTW's -18.61%.

TLTW currently has the higher Sharpe Ratio (1.37 vs -0.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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