DIPS vs. TLTX

Last updated Jun 4, 2026

DIPS (YieldMax Short NVDA Option Income Strategy ETF) and TLTX (Global X Treasury Bond Enhanced Income ETF) are both exchange-traded funds - DIPS is a Derivative Income fund actively managed by YieldMax, while TLTX is a Government Bonds fund actively managed by Global X. Both are actively managed. At a correlation of -0.08, they often move in opposite directions. DIPS charges 0.99%/yr vs 0.29%/yr for TLTX.

Performance

DIPS vs. TLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Short NVDA Option Income Strategy ETF (DIPS) and Global X Treasury Bond Enhanced Income ETF (TLTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIPS achieves a -8.73% return, which is significantly lower than TLTX's -0.36% return.

DIPS

• 1D: 2.87%
• 1M: -6.32%
• YTD: -8.73%
• 6M: -11.40%
• 1Y: -26.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TLTX

• 1D: -0.37%
• 1M: -0.19%
• YTD: -0.36%
• 6M: -1.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIPS vs. TLTX - Yearly Performance Comparison

	2026 (YTD)	2025
DIPS YieldMax Short NVDA Option Income Strategy ETF	-8.73%	-5.08%
TLTX Global X Treasury Bond Enhanced Income ETF	-0.36%	5.40%

Correlation

The correlation between DIPS and TLTX is -0.08, 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 (All Time) Calculated using the full available price history since Jul 17, 2025	-0.08

Return for Risk

DIPS vs. TLTX — Risk / Return Rank

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

DIPS

DIPS Risk / Return Rank: 2
DIPS Sharpe Ratio Rank: 2
DIPS Sortino Ratio Rank: 2
DIPS Omega Ratio Rank: 2
DIPS Calmar Ratio Rank: 2
DIPS Martin Ratio Rank: 2

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.

DIPS vs. TLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Short NVDA Option Income Strategy ETF (DIPS) and Global X Treasury Bond Enhanced Income ETF (TLTX). 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.

	DIPS	TLTX	Difference
Sharpe ratio: Return per unit of total volatility	-0.96	—	—
Sortino ratio: Return per unit of downside risk	-1.28	—	—
Omega ratio: Gain probability vs. loss probability	0.85	—	—
Calmar ratio: Return relative to maximum drawdown	-0.78	—	—
Martin ratio: Return relative to average drawdown	-1.36	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DIPS	TLTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.96	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.86	0.63	-1.49

Drawdowns

DIPS vs. TLTX - Drawdown Comparison

The maximum DIPS drawdown since its inception was -59.93%, which is greater than TLTX's maximum drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for DIPS and TLTX.

Drawdown Indicators

	DIPS	TLTX	Difference
Max Drawdown Largest peak-to-trough decline	-59.93%	-6.35%	-53.58%
Max Drawdown (1Y) Largest decline over 1 year	-33.97%	—	—
Current Drawdown Current decline from peak	-55.85%	-4.05%	-51.80%
Average Drawdown Average peak-to-trough decline	-38.22%	-2.27%	-35.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.49%	—	—

Volatility

Volatility by Period

	DIPS	TLTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.77%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	27.88%	9.14%	+18.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.03%	9.14%	+28.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.03%	9.14%	+28.89%

DIPS vs. TLTX - Expense Ratio Comparison

DIPS has a 0.99% expense ratio, which is higher than TLTX's 0.29% expense ratio.

Dividends

DIPS vs. TLTX - Dividend Comparison

DIPS's dividend yield for the trailing twelve months is around 66.49%, more than TLTX's 15.79% yield.

Position	TTM	2025	2024
DIPS YieldMax Short NVDA Option Income Strategy ETF	66.49%	96.20%	24.18%
TLTX Global X Treasury Bond Enhanced Income ETF	15.79%	7.54%	0.00%

Frequently Asked Questions

Can I hold both DIPS and TLTX in my portfolio?

DIPS and TLTX have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DIPS or TLTX?

On fees, TLTX is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DIPS or TLTX?

TLTX is cheaper with a 0.29% expense ratio, compared with 0.99% for DIPS.

Which ETF pays a higher dividend yield, DIPS or TLTX?

DIPS has the higher dividend yield at 66.49%, compared with 15.79% for TLTX.

What is the main difference between DIPS and TLTX?

DIPS is categorized as Derivative Income, while TLTX is Government Bonds. They also come from different issuers: YieldMax and Global X. Their fees differ too: 0.99% for DIPS and 0.29% for TLTX.