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 139.70%/yr vs 0.85%/yr for TLTW. At a correlation of -0.05, they often move in opposite directions.
Performance
FMCC vs. TLTW - Performance Comparison
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Returns By Period
In the year-to-date period, FMCC achieves a -40.24% return, which is significantly lower than TLTW's 1.44% return.
FMCC
- 1D
- 6.50%
- 1M
- -14.65%
- YTD
- -40.24%
- 6M
- -44.15%
- 1Y
- -11.53%
- 3Y*
- 139.70%
- 5Y*
- 21.17%
- 10Y*
- 11.02%
TLTW
- 1D
- 0.23%
- 1M
- 0.48%
- YTD
- 1.44%
- 6M
- 0.46%
- 1Y
- 9.58%
- 3Y*
- 0.85%
- 5Y*
- —
- 10Y*
- —
FMCC vs. TLTW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FMCC Freddie Mac | -40.24% | 210.52% | 284.18% | 140.59% | -36.91% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 1.44% | 11.36% | -2.18% | 0.73% | -11.09% |
Correlation
The correlation between FMCC and TLTW is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | -0.05 |
The correlation between FMCC and TLTW shifts across timeframes, from -0.05 (3 years) to 0.06 (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.
| FMCC | TLTW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.22 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 1.61 | -1.77 |
| Martin ratioReturn relative to average drawdown | -0.31 | 4.81 | -5.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FMCC | TLTW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.12 | 1.26 | -1.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.05 | -0.02 | -0.03 |
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% | -17.19% | -54.12% |
Max Drawdown (5Y)Largest decline over 5 years | -85.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -91.97% | — | — |
Current DrawdownCurrent decline from peak | -93.92% | -2.98% | -90.94% |
Average DrawdownAverage peak-to-trough decline | -68.87% | -8.25% | -60.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.39% | 2.00% | +35.39% |
Volatility
FMCC vs. TLTW - Volatility Comparison
Freddie Mac (FMCC) has a higher volatility of 17.51% compared to iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) at 2.44%. 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 | 17.51% | 2.44% | +15.07% |
Volatility (6M)Calculated over the trailing 6-month period | 66.46% | 5.79% | +60.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 93.23% | 7.70% | +85.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 86.67% | 11.39% | +75.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 78.77% | 11.39% | +67.38% |
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 11.73%.
| 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 | 11.73% | 14.82% | 14.47% | 19.59% | 8.71% |
Frequently Asked Questions
FMCC and TLTW have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMCC has higher volatility (17.51%) compared to TLTW (2.44%). In terms of maximum drawdown, FMCC dropped -99.81% vs TLTW's -18.61%.
TLTW currently has the higher Sharpe Ratio (1.26 vs -0.12), 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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