FMCC vs. TLTW
FMCC (Freddie Mac) is a stock, while TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) is Derivative Income fund tracking the CBOE TLT 2% OTM Buywrite Index (USD). Over the past 3 years, FMCC returned 127.13%/yr vs 0.27%/yr for TLTW. Their -0.03 correlation means they have often moved in opposite directions in the past.
Performance
FMCC vs. TLTW - Performance Comparison
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Returns By Period
In the year-to-date period, FMCC achieves a -45.68% return, which is significantly lower than TLTW's -1.50% return.
FMCC
- 1D
- -0.94%
- 1M
- -3.03%
- 6M
- -23.74%
- YTD
- -45.68%
- 1Y
- -23.92%
- 3Y*
- 127.13%
- 5Y*
- 37.76%
- 10Y*
- 12.09%
- ALL TIME*
- -4.26%
TLTW
- 1D
- -0.65%
- 1M
- -3.60%
- 6M
- -1.68%
- YTD
- -1.50%
- 1Y
- 3.14%
- 3Y*
- 0.27%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
FMCC Freddie Mac | $7.86M | $8.85M | $13.54M |
| $26.30M | $26.52M | $33.25M |
FMCC vs. TLTW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FMCC Freddie Mac | -45.68% | 210.52% | 284.18% | 140.59% | -38.88% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | -1.50% | 11.36% | -2.18% | 0.73% | -11.14% |
Correlation
The correlation between FMCC and TLTW is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (3Y) Balances recent behavior with more history. | -0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2022 | -0.03 |
The correlation between FMCC and TLTW shifts across timeframes, from -0.04 (3 years) to 0.11 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FMCC vs. TLTW — Risk / Return Rank
FMCC
TLTW
FMCC vs. TLTW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Freddie Mac (FMCC) 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.
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.
| FMCC | TLTW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.09 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 0.63 | -0.81 |
| Martin ratioReturn relative to average drawdown | -0.30 | 1.57 | -1.88 |
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Drawdowns
FMCC vs. TLTW - Drawdown Comparison
The maximum FMCC drawdown since its inception was -99.81%, which is greater than TLTW's maximum drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for FMCC and TLTW.
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Drawdown Indicators
| FMCC | TLTW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.81% | -18.61% | -81.20% |
Max Drawdown (1Y)Largest decline over 1 year | -71.31% | -5.97% | -65.34% |
Max Drawdown (3Y)Largest decline over 3 years | -71.31% | -12.93% | -58.38% |
Max Drawdown (5Y)Largest decline over 5 years | -71.31% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -91.97% | — | — |
Current DrawdownCurrent decline from peak | -94.47% | -5.79% | -88.68% |
Average DrawdownAverage peak-to-trough decline | -68.97% | -8.04% | -60.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.74% | 2.37% | +41.37% |
Volatility
FMCC vs. TLTW - Volatility Comparison
Freddie Mac (FMCC) has a higher volatility of 16.29% compared to iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) at 2.20%. This indicates that FMCC'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
| FMCC | TLTW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.29% | 2.20% | +14.09% |
Volatility (6M)Calculated over the trailing 6-month period | 64.92% | 5.94% | +58.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 93.40% | 7.70% | +85.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 85.19% | 11.26% | +73.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.04% | 11.26% | +67.78% |
Dividends
FMCC vs. TLTW - Dividend Comparison
FMCC has not paid dividends to shareholders, while TLTW's dividend yield for the trailing twelve months is around 11.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FMCC Freddie Mac | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 11.31% | 14.82% | 14.47% | 19.59% | 8.71% |
Frequently Asked Questions
FMCC and TLTW have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMCC has higher volatility (16.29%) compared to TLTW (2.20%). In terms of maximum drawdown, FMCC dropped -99.81% vs TLTW's -18.61%.
TLTW currently has the higher Sharpe Ratio (0.49 vs -0.14), 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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