LB vs. TLTW

Last updated Jun 4, 2026

LB (LandBridge Company LLC) is a stock, while TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) is Options Trading fund tracking the CBOE TLT 2% OTM Buywrite Index (USD). Over the past year, LB returned 5.17% vs 10.46% for TLTW. At a correlation of -0.00, they often move in opposite directions.

Performance

LB vs. TLTW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LandBridge Company LLC (LB) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LB achieves a 55.22% return, which is significantly higher than TLTW's 1.21% return.

LB

• 1D: 3.73%
• 1M: 16.67%
• YTD: 55.22%
• 6M: 25.90%
• 1Y: 5.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TLTW

• 1D: -0.23%
• 1M: 0.76%
• YTD: 1.21%
• 6M: -0.20%
• 1Y: 10.46%
• 3Y*: 0.74%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

LB vs. TLTW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LB LandBridge Company LLC	55.22%	-23.67%	179.45%
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF	1.21%	11.36%	-0.24%

Correlation

The correlation between LB and TLTW is -0.02, 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	-0.02
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024	-0.00

Return for Risk

LB vs. TLTW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LB

LB Risk / Return Rank: 43
LB Sharpe Ratio Rank: 44
LB Sortino Ratio Rank: 43
LB Omega Ratio Rank: 42
LB Calmar Ratio Rank: 43
LB Martin Ratio Rank: 42

TLTW

TLTW Risk / Return Rank: 36
TLTW Sharpe Ratio Rank: 37
TLTW Sortino Ratio Rank: 37
TLTW Omega Ratio Rank: 35
TLTW Calmar Ratio Rank: 35
TLTW Martin Ratio Rank: 34

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LB vs. TLTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LandBridge Company LLC (LB) 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.

	LB	TLTW	Difference
Sharpe ratio Return per unit of total volatility	0.09	1.37	-1.28
Sortino ratio Return per unit of downside risk	0.56	1.96	-1.40
Omega ratio Gain probability vs. loss probability	1.07	1.24	-0.17
Calmar ratio Return relative to maximum drawdown	0.11	1.76	-1.65
Martin ratio Return relative to average drawdown	0.21	5.28	-5.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LB vs. TLTW - Sharpe Ratio Comparison

The current LB Sharpe Ratio is 0.09, which is lower than the TLTW Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of LB and TLTW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LB	TLTW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.09	1.37	-1.28
Sharpe Ratio (All Time) Calculated using the full available price history	1.28	-0.03	+1.31

Drawdowns

LB vs. TLTW - Drawdown Comparison

The maximum LB drawdown since its inception was -48.25%, which is greater than TLTW's maximum drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for LB and TLTW.

Drawdown Indicators

	LB	TLTW	Difference
Max Drawdown Largest peak-to-trough decline	-48.25%	-18.61%	-29.64%
Max Drawdown (1Y) Largest decline over 1 year	-48.25%	-5.97%	-42.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.19%	—
Current Drawdown Current decline from peak	-10.97%	-3.20%	-7.77%
Average Drawdown Average peak-to-trough decline	-19.10%	-8.25%	-10.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.97%	1.99%	+22.98%

Volatility

LB vs. TLTW - Volatility Comparison

LandBridge Company LLC (LB) has a higher volatility of 14.86% compared to iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) at 2.48%. This indicates that LB'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.

Volatility by Period

	LB	TLTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.86%	2.48%	+12.38%
Volatility (6M) Calculated over the trailing 6-month period	40.68%	5.79%	+34.89%
Volatility (1Y) Calculated over the trailing 1-year period	59.81%	7.70%	+52.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.90%	11.39%	+56.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.90%	11.39%	+56.51%

Dividends

LB vs. TLTW - Dividend Comparison

LB's dividend yield for the trailing twelve months is around 0.55%, less than TLTW's 11.76% yield.

Position	TTM	2025	2024	2023	2022
LB LandBridge Company LLC	0.55%	0.82%	0.15%	0.00%	0.00%
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF	11.76%	14.82%	14.47%	19.59%	8.71%

Frequently Asked Questions

Can I hold both LB and TLTW in my portfolio?

LB and TLTW have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LB or TLTW?

LB has higher volatility (14.86%) compared to TLTW (2.48%). In terms of maximum drawdown, LB dropped -48.25% vs TLTW's -18.61%.

Which has better risk-adjusted returns?

TLTW currently has the higher Sharpe Ratio (1.37 vs 0.09), 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.