FIVY vs. TLTX

Last updated Jun 25, 2026

FIVY (YieldMax Dorsey Wright Hybrid 5 Income ETF) and TLTX (Global X Treasury Bond Enhanced Income ETF) are both exchange-traded funds - FIVY is a Derivative Income fund tracking the Nasdaq Dorsey Wright Tactical Hybrid Option Income Strategy Index, while TLTX is a Government Bonds fund actively managed by Global X. FIVY is passively managed, while TLTX is actively managed. At a 0.19 correlation, their price movements are largely independent. FIVY charges 0.88%/yr vs 0.29%/yr for TLTX.

Performance

FIVY vs. TLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Dorsey Wright Hybrid 5 Income ETF (FIVY) 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, FIVY achieves a -6.12% return, which is significantly lower than TLTX's 1.95% return.

FIVY

• 1D: 0.00%
• 1M: -1.85%
• YTD: -6.12%
• 6M: -8.33%
• 1Y: -8.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TLTX

• 1D: 0.82%
• 1M: 2.89%
• YTD: 1.95%
• 6M: 1.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FIVY vs. TLTX - Yearly Performance Comparison

	2026 (YTD)	2025
FIVY YieldMax Dorsey Wright Hybrid 5 Income ETF	-6.12%	-7.97%
TLTX Global X Treasury Bond Enhanced Income ETF	1.95%	6.02%

Correlation

The correlation between FIVY and TLTX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.19

Return for Risk

FIVY vs. TLTX — Risk / Return Rank

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

FIVY

FIVY Risk / Return Rank: 7
FIVY Sharpe Ratio Rank: 6
FIVY Sortino Ratio Rank: 7
FIVY Omega Ratio Rank: 7
FIVY Calmar Ratio Rank: 7
FIVY Martin Ratio Rank: 7

TLTX

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

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.

FIVY vs. TLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Dorsey Wright Hybrid 5 Income ETF (FIVY) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FIVY	TLTX	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	—	—
Sortino ratio: Return per unit of downside risk	-0.18	—	—
Omega ratio: Gain probability vs. loss probability	0.98	—	—
Calmar ratio: Return relative to maximum drawdown	-0.27	—	—
Martin ratio: Return relative to average drawdown	-0.53	—	—

Drawdowns

FIVY vs. TLTX - Drawdown Comparison

The maximum FIVY drawdown since its inception was -32.77%, which is greater than TLTX's maximum drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for FIVY and TLTX.

Drawdown Indicators

	FIVY	TLTX	Difference
Max Drawdown Largest peak-to-trough decline	-32.77%	-6.35%	-26.42%
Max Drawdown (1Y) Largest decline over 1 year	-32.77%	—	—
Current Drawdown Current decline from peak	-19.89%	-1.82%	-18.07%
Average Drawdown Average peak-to-trough decline	-13.67%	-2.29%	-11.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.60%	—	—

Volatility

Volatility by Period

	FIVY	TLTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.65%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	31.19%	9.28%	+21.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.82%	9.28%	+23.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.82%	9.28%	+23.54%

FIVY vs. TLTX - Expense Ratio Comparison

FIVY has a 0.88% expense ratio, which is higher than TLTX's 0.29% expense ratio.

Dividends

FIVY vs. TLTX - Dividend Comparison

FIVY's dividend yield for the trailing twelve months is around 47.61%, more than TLTX's 17.11% yield.

Position	TTM	2025
FIVY YieldMax Dorsey Wright Hybrid 5 Income ETF	47.61%	46.51%
TLTX Global X Treasury Bond Enhanced Income ETF	17.11%	7.54%

Frequently Asked Questions

Can I hold both FIVY and TLTX in my portfolio?

FIVY and TLTX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FIVY 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, FIVY or TLTX?

TLTX is cheaper with a 0.29% expense ratio, compared with 0.88% for FIVY.

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

FIVY has the higher dividend yield at 47.61%, compared with 17.11% for TLTX.

What is the main difference between FIVY and TLTX?

FIVY is categorized as Derivative Income, while TLTX is Government Bonds. They also come from different issuers: YieldMax and Global X. Their fees differ too: 0.88% for FIVY and 0.29% for TLTX.