GTR vs. TLTW
GTR (WisdomTree Target Range Fund) and TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) are both exchange-traded funds - GTR is a Options Trading fund actively managed by WisdomTree, while TLTW is a Derivative Income fund tracking the CBOE TLT 2% OTM Buywrite Index (USD). GTR is actively managed, while TLTW is passively managed. Over the past 3 years, GTR returned 12.84%/yr vs 0.85%/yr for TLTW. At a 0.20 correlation, their price movements are largely independent. GTR charges 0.70%/yr vs 0.35%/yr for TLTW.
Performance
GTR vs. TLTW - Performance Comparison
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Returns By Period
In the year-to-date period, GTR achieves a 8.44% return, which is significantly higher than TLTW's 1.44% return.
GTR
- 1D
- 0.28%
- 1M
- 2.20%
- YTD
- 8.44%
- 6M
- 8.61%
- 1Y
- 19.56%
- 3Y*
- 12.84%
- 5Y*
- —
- 10Y*
- —
TLTW
- 1D
- 0.23%
- 1M
- 0.48%
- YTD
- 1.44%
- 6M
- 0.46%
- 1Y
- 9.58%
- 3Y*
- 0.85%
- 5Y*
- —
- 10Y*
- —
GTR vs. TLTW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GTR WisdomTree Target Range Fund | 8.44% | 12.90% | 8.41% | 12.45% | -6.27% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 1.44% | 11.36% | -2.18% | 0.73% | -11.09% |
Correlation
The correlation between GTR and TLTW is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.20 |
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Return for Risk
GTR vs. TLTW — Risk / Return Rank
GTR
TLTW
GTR vs. TLTW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Target Range Fund (GTR) 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.
| GTR | TLTW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.22 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | 1.61 | +1.68 |
| Martin ratioReturn relative to average drawdown | 13.06 | 4.81 | +8.25 |
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
| GTR | TLTW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 1.26 | +0.82 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | -0.02 | +0.48 |
Drawdowns
GTR vs. TLTW - Drawdown Comparison
The maximum GTR drawdown since its inception was -21.44%, which is greater than TLTW's maximum drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for GTR and TLTW.
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Drawdown Indicators
| GTR | TLTW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.44% | -18.61% | -2.83% |
Max Drawdown (1Y)Largest decline over 1 year | -5.97% | -5.97% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -12.88% | -17.19% | +4.31% |
Current DrawdownCurrent decline from peak | -0.13% | -2.98% | +2.85% |
Average DrawdownAverage peak-to-trough decline | -8.63% | -8.25% | -0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.50% | 2.00% | -0.50% |
Volatility
GTR vs. TLTW - Volatility Comparison
WisdomTree Target Range Fund (GTR) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) have volatilities of 2.36% and 2.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GTR | TLTW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 2.44% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 6.88% | 5.79% | +1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.45% | 7.70% | +1.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.86% | 11.39% | -0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.86% | 11.39% | -0.53% |
GTR vs. TLTW - Expense Ratio Comparison
GTR has a 0.70% expense ratio, which is higher than TLTW's 0.35% expense ratio.
Dividends
GTR vs. TLTW - Dividend Comparison
GTR's dividend yield for the trailing twelve months is around 5.30%, less than TLTW's 11.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GTR WisdomTree Target Range Fund | 5.30% | 5.74% | 5.30% | 2.85% | 0.46% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 11.73% | 14.82% | 14.47% | 19.59% | 8.71% |
Frequently Asked Questions
GTR and TLTW have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLTW has higher volatility (2.44%) compared to GTR (2.36%). In terms of maximum drawdown, GTR dropped -21.44% vs TLTW's -18.61%.
On 3-year performance, GTR leads with 12.84% vs 0.85% for TLTW. On fees, TLTW is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GTR has performed better with a 12.84% return vs 0.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLTW is cheaper with a 0.35% expense ratio, compared with 0.70% for GTR.
TLTW has the higher dividend yield at 11.73%, compared with 5.30% for GTR.
GTR is categorized as Options Trading, while TLTW is Derivative Income. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.70% for GTR and 0.35% for TLTW.
GTR currently has the higher Sharpe Ratio (2.08 vs 1.26), 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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