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 -30.79%/yr vs 0.05%/yr for TLTW. At a 0.04 correlation, their price movements are largely independent.
Performance
OPTT vs. TLTW - Performance Comparison
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Returns By Period
In the year-to-date period, OPTT achieves a -27.60% return, which is significantly lower than TLTW's 0.30% return.
OPTT
- 1D
- -1.72%
- 1M
- -20.79%
- 6M
- -55.09%
- YTD
- -27.60%
- 1Y
- -59.40%
- 3Y*
- -30.79%
- 5Y*
- -35.85%
- 10Y*
- -48.51%
TLTW
- 1D
- -0.60%
- 1M
- -1.57%
- 6M
- -0.27%
- YTD
- 0.30%
- 1Y
- 6.79%
- 3Y*
- 0.05%
- 5Y*
- —
- 10Y*
- —
OPTT vs. TLTW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OPTT Ocean Power Technologies, Inc. | -27.60% | -70.59% | 222.78% | -29.79% | -57.93% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 0.30% | 11.36% | -2.18% | 0.73% | -11.14% |
Correlation
The correlation between OPTT and TLTW is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 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 | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.81 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.16 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 1.14 | -1.95 |
| Martin ratioReturn relative to average drawdown | -1.19 | 3.20 | -4.39 |
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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 | -74.14% | -5.97% | -68.17% |
Max Drawdown (3Y)Largest decline over 3 years | -86.51% | -17.19% | -69.32% |
Max Drawdown (5Y)Largest decline over 5 years | -94.73% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.95% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -4.07% | -95.92% |
Average DrawdownAverage peak-to-trough decline | -88.56% | -8.09% | -80.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.75% | 2.13% | +47.62% |
Volatility
OPTT vs. TLTW - Volatility Comparison
Ocean Power Technologies, Inc. (OPTT) has a higher volatility of 23.88% compared to iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) at 2.33%. 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 | 23.88% | 2.33% | +21.55% |
Volatility (6M)Calculated over the trailing 6-month period | 70.18% | 5.95% | +64.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 104.97% | 7.62% | +97.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 121.68% | 11.30% | +110.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 125.98% | 11.30% | +114.68% |
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 11.11%.
| 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 | 11.11% | 14.82% | 14.47% | 19.59% | 8.71% |
Frequently Asked Questions
OPTT and TLTW have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OPTT has higher volatility (23.88%) compared to TLTW (2.33%). In terms of maximum drawdown, OPTT dropped -100.00% vs TLTW's -18.61%.
TLTW currently has the higher Sharpe Ratio (0.90 vs -0.57), 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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