HYGW vs. TLTW
Compare and contrast key facts about iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW).
HYGW and TLTW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYGW is a passively managed fund by iShares that tracks the performance of the Cboe HYG BuyWrite Index. It was launched on Aug 18, 2022. TLTW is a passively managed fund by iShares that tracks the performance of the CBOE TLT 2% OTM Buywrite Index (USD). It was launched on Jun 18, 2022. Both HYGW and TLTW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYGW or TLTW.
Key characteristics
| HYGW | TLTW | |
|---|---|---|
| YTD Return | 7.64% | 1.54% |
| 1Y Return | 10.01% | 5.77% |
| Sharpe Ratio | 3.90 | 0.53 |
| Sortino Ratio | 6.09 | 0.75 |
| Omega Ratio | 1.90 | 1.10 |
| Calmar Ratio | 4.51 | 0.31 |
| Martin Ratio | 39.72 | 1.62 |
| Ulcer Index | 0.25% | 3.33% |
| Daily Std Dev | 2.57% | 10.24% |
| Max Drawdown | -5.49% | -18.59% |
| Current Drawdown | 0.00% | -9.84% |
Correlation
The correlation between HYGW and TLTW is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
HYGW vs. TLTW - Performance Comparison
In the year-to-date period, HYGW achieves a 7.64% return, which is significantly higher than TLTW's 1.54% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HYGW vs. TLTW - Expense Ratio Comparison
HYGW has a 0.69% expense ratio, which is higher than TLTW's 0.35% expense ratio.
Risk-Adjusted Performance
HYGW vs. TLTW - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) 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.
Dividends
HYGW vs. TLTW - Dividend Comparison
HYGW's dividend yield for the trailing twelve months is around 12.53%, less than TLTW's 14.99% yield.
| TTM | 2023 | 2022 | |
|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 12.53% | 15.98% | 8.72% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 14.99% | 19.59% | 8.71% |
Drawdowns
HYGW vs. TLTW - Drawdown Comparison
The maximum HYGW drawdown since its inception was -5.49%, smaller than the maximum TLTW drawdown of -18.59%. Use the drawdown chart below to compare losses from any high point for HYGW and TLTW. For additional features, visit the drawdowns tool.
Volatility
HYGW vs. TLTW - Volatility Comparison
The current volatility for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) is 1.04%, while iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) has a volatility of 4.51%. This indicates that HYGW experiences smaller price fluctuations and is considered to be less risky than TLTW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.