OPTT vs. TLTW
OPTT (Ocean Power Technologies, Inc.) 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, OPTT returned -32.97%/yr vs 0.27%/yr for TLTW. Their 0.04 correlation means their historical movements had little consistent relationship.
Performance
OPTT vs. TLTW - Performance Comparison
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Returns By Period
In the year-to-date period, OPTT achieves a -39.67% return, which is significantly lower than TLTW's -1.50% return.
OPTT
- 1D
- 12.35%
- 1M
- -29.35%
- 6M
- -63.78%
- YTD
- -39.67%
- 1Y
- -65.35%
- 3Y*
- -32.97%
- 5Y*
- -37.96%
- 10Y*
- -48.90%
- ALL TIME*
- -40.50%
TLTW
- 1D
- -0.65%
- 1M
- -3.60%
- 6M
- -1.68%
- YTD
- -1.50%
- 1Y
- 3.14%
- 3Y*
- 0.27%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.22M | $1.06M | $1.31M | |
| $26.30M | $26.52M | $33.25M |
OPTT vs. TLTW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OPTT Ocean Power Technologies, Inc. | -39.67% | -70.59% | 222.78% | -29.79% | -57.93% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | -1.50% | 11.36% | -2.18% | 0.73% | -11.14% |
Correlation
The correlation between OPTT and TLTW is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2022 | 0.04 |
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Return for Risk
OPTT vs. TLTW — Risk / Return Rank
OPTT
TLTW
OPTT vs. TLTW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ocean Power Technologies, Inc. (OPTT) 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.
| OPTT | TLTW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.09 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 0.63 | -1.46 |
| Martin ratioReturn relative to average drawdown | -1.57 | 1.57 | -3.14 |
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Drawdowns
OPTT vs. TLTW - Drawdown Comparison
The maximum OPTT drawdown since its inception was -100.00%, which is greater than TLTW's maximum drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for OPTT and TLTW.
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Drawdown Indicators
| OPTT | TLTW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -18.61% | -81.39% |
Max Drawdown (1Y)Largest decline over 1 year | -79.38% | -5.97% | -73.41% |
Max Drawdown (3Y)Largest decline over 3 years | -91.06% | -12.93% | -78.13% |
Max Drawdown (5Y)Largest decline over 5 years | -94.73% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.93% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -5.79% | -94.21% |
Average DrawdownAverage peak-to-trough decline | -88.60% | -8.04% | -80.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.18% | 2.37% | +39.81% |
Volatility
OPTT vs. TLTW - Volatility Comparison
Ocean Power Technologies, Inc. (OPTT) has a higher volatility of 31.54% compared to iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) at 2.20%. This indicates that OPTT'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
| OPTT | TLTW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.54% | 2.20% | +29.34% |
Volatility (6M)Calculated over the trailing 6-month period | 65.61% | 5.94% | +59.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 102.88% | 7.70% | +95.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 122.02% | 11.26% | +110.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 120.56% | 11.26% | +109.30% |
Dividends
OPTT vs. TLTW - Dividend Comparison
OPTT has not paid dividends to shareholders, while TLTW's dividend yield for the trailing twelve months is around 11.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
OPTT Ocean Power Technologies, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 11.31% | 14.82% | 14.47% | 19.59% | 8.71% |
Frequently Asked Questions
OPTT and TLTW have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OPTT has higher volatility (31.54%) compared to TLTW (2.20%). In terms of maximum drawdown, OPTT dropped -100.00% vs TLTW's -18.61%.
TLTW currently has the higher Sharpe Ratio (0.49 vs -0.64), 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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