JULH vs. TLTW
JULH (Innovator Premium Income 20 Barrier ETF - July) and TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) are both exchange-traded funds - JULH is a Options Trading fund actively managed by Innovator, while TLTW is a Derivative Income fund tracking the CBOE TLT 2% OTM Buywrite Index (USD). JULH is actively managed, while TLTW is passively managed. Over the past year, JULH returned 5.17% vs 7.91% for TLTW. At a 0.18 correlation, their price movements are largely independent. JULH charges 0.79%/yr vs 0.35%/yr for TLTW.
Performance
JULH vs. TLTW - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JULH having a 2.62% return and TLTW slightly higher at 2.68%.
JULH
- 1D
- 0.17%
- 1M
- 0.41%
- YTD
- 2.62%
- 6M
- 0.91%
- 1Y
- 5.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLTW
- 1D
- -0.89%
- 1M
- 1.39%
- YTD
- 2.68%
- 6M
- 2.03%
- 1Y
- 7.91%
- 3Y*
- 0.63%
- 5Y*
- —
- 10Y*
- —
JULH vs. TLTW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JULH Innovator Premium Income 20 Barrier ETF - July | 2.62% | 5.39% | 6.93% | 4.51% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 2.68% | 11.36% | -2.18% | -8.88% |
Correlation
The correlation between JULH and TLTW is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2023 | 0.18 |
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Return for Risk
JULH vs. TLTW — Risk / Return Rank
JULH
TLTW
JULH vs. TLTW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 20 Barrier ETF - July (JULH) 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.
| JULH | TLTW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.18 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 1.33 | +1.68 |
| Martin ratioReturn relative to average drawdown | 7.62 | 3.80 | +3.81 |
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Drawdowns
JULH vs. TLTW - Drawdown Comparison
The maximum JULH drawdown since its inception was -5.51%, smaller than the maximum TLTW drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for JULH and TLTW.
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Drawdown Indicators
| JULH | TLTW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.51% | -18.61% | +13.10% |
Max Drawdown (1Y)Largest decline over 1 year | -1.72% | -5.97% | +4.25% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.19% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.79% | +1.79% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -8.13% | +7.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 2.08% | -1.40% |
Volatility
JULH vs. TLTW - Volatility Comparison
The current volatility for Innovator Premium Income 20 Barrier ETF - July (JULH) is 0.18%, while iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) has a volatility of 2.07%. This indicates that JULH 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.
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Volatility by Period
| JULH | TLTW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 2.07% | -1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 2.23% | 5.90% | -3.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.80% | 7.70% | -4.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.70% | 11.33% | -6.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 11.33% | -6.63% |
JULH vs. TLTW - Expense Ratio Comparison
JULH has a 0.79% expense ratio, which is higher than TLTW's 0.35% expense ratio.
Dividends
JULH vs. TLTW - Dividend Comparison
JULH's dividend yield for the trailing twelve months is around 4.78%, less than TLTW's 11.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
JULH Innovator Premium Income 20 Barrier ETF - July | 4.78% | 5.31% | 6.89% | 3.67% | 0.00% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 11.59% | 14.82% | 14.47% | 19.59% | 8.71% |
Frequently Asked Questions
JULH and TLTW have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLTW has higher volatility (2.07%) compared to JULH (0.18%). In terms of maximum drawdown, JULH dropped -5.51% vs TLTW's -18.61%.
On 1-year performance, TLTW leads with 7.91% vs 5.17% for JULH. On fees, TLTW is cheaper at 0.35% per year. On volatility, JULH has been the lower-risk option at 0.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TLTW has performed better with a 7.91% return vs 5.17%. 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 0.79% for JULH.
TLTW has the higher dividend yield at 11.59%, compared with 4.78% for JULH.
JULH is categorized as Options Trading, while TLTW is Derivative Income. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for JULH and 0.35% for TLTW.
JULH currently has the higher Sharpe Ratio (1.85 vs 1.03), 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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