PLW vs. TLTX

Last updated Aug 5, 2026

PLW (Invesco 1-30 Laddered Treasury ETF) and TLTX (Global X Treasury Bond Enhanced Income ETF) are both Government Bonds funds. PLW is passively managed, while TLTX is actively managed. Over the past year, PLW returned 0.11% vs -0.71% for TLTX. Their 0.65 correlation means they have sometimes moved together and sometimes differently. PLW charges 0.25%/yr vs 0.29%/yr for TLTX.

Performance

PLW vs. TLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco 1-30 Laddered Treasury ETF (PLW) and Global X Treasury Bond Enhanced Income ETF (TLTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLW achieves a -1.49% return, which is significantly higher than TLTX's -2.60% return.

PLW

• 1D: 0.57%
• 1M: -1.60%
• 6M: -1.34%
• YTD: -1.49%
• 1Y: 0.11%
• 3Y*: 1.52%
• 5Y*: -3.79%
• 10Y*: -0.41%
• ALL TIME*: 2.91%

TLTX

• 1D: 0.43%
• 1M: -3.00%
• 6M: -2.25%
• YTD: -2.60%
• 1Y: -0.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.11%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PLW Invesco 1-30 Laddered Treasury ETF	$4.68M	$4.78M	$7.09M
TLTX Global X Treasury Bond Enhanced Income ETF	$161.97K	$191.43K	$332.84K

PLW vs. TLTX - Yearly Performance Comparison

	2026 (YTD)	2025
PLW Invesco 1-30 Laddered Treasury ETF	-1.49%	4.57%
TLTX Global X Treasury Bond Enhanced Income ETF	-2.60%	6.02%

Correlation

The correlation between PLW and TLTX is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.65

The correlation between PLW and TLTX has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.

Return for Risk

PLW vs. TLTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PLW

PLW Risk / Return Rank: 10
PLW Sharpe Ratio Rank: 11
PLW Sortino Ratio Rank: 9
PLW Omega Ratio Rank: 9
PLW Calmar Ratio Rank: 11
PLW Martin Ratio Rank: 11

TLTX

TLTX Risk / Return Rank: 9
TLTX Sharpe Ratio Rank: 9
TLTX Sortino Ratio Rank: 8
TLTX Omega Ratio Rank: 8
TLTX Calmar Ratio Rank: 9
TLTX Martin Ratio Rank: 9

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PLW vs. TLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco 1-30 Laddered Treasury ETF (PLW) and Global X Treasury Bond Enhanced Income ETF (TLTX). 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.

	PLW	TLTX	Difference
Sharpe ratio: Return per unit of total volatility	0.02	-0.08	+0.09
Sortino ratio: Return per unit of downside risk	0.07	-0.04	+0.11
Omega ratio: Gain probability vs. loss probability	1.01	1.00	+0.01
Calmar ratio: Return relative to maximum drawdown	0.02	-0.11	+0.13
Martin ratio: Return relative to average drawdown	0.05	-0.23	+0.28

PLW vs. TLTX - Sharpe Ratio Comparison

The current PLW Sharpe Ratio is 0.02, which is higher than the TLTX Sharpe Ratio of -0.08. The chart below compares the historical Sharpe Ratios of PLW and TLTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PLW vs. TLTX - Drawdown Comparison

The maximum PLW drawdown since its inception was -32.70%, which is greater than TLTX's maximum drawdown of -6.70%. Use the drawdown chart below to compare losses from any high point for PLW and TLTX.

Drawdown Indicators

	PLW	TLTX	Difference
Max Drawdown Largest peak-to-trough decline	-32.70%	-6.70%	-26.00%
Max Drawdown (1Y) Largest decline over 1 year	-5.45%	-6.70%	+1.25%
Max Drawdown (3Y) Largest decline over 3 years	-9.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.30%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.70%	—	—
Current Drawdown Current decline from peak	-23.12%	-6.20%	-16.92%
Average Drawdown Average peak-to-trough decline	-9.76%	-2.52%	-7.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	3.08%	-0.68%

Volatility

PLW vs. TLTX - Volatility Comparison

The current volatility for Invesco 1-30 Laddered Treasury ETF (PLW) is 1.78%, while Global X Treasury Bond Enhanced Income ETF (TLTX) has a volatility of 2.96%. This indicates that PLW experiences smaller price fluctuations and is considered to be less risky than TLTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLW	TLTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.78%	2.96%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	4.88%	7.30%	-2.42%
Volatility (1Y) Calculated over the trailing 1-year period	6.24%	9.45%	-3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.82%	9.41%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.07%	9.41%	-0.34%

PLW vs. TLTX - Expense Ratio Comparison

PLW has a 0.25% expense ratio, which is lower than TLTX's 0.29% expense ratio.

Dividends

PLW vs. TLTX - Dividend Comparison

PLW's dividend yield for the trailing twelve months is around 3.92%, less than TLTX's 19.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PLW Invesco 1-30 Laddered Treasury ETF	3.92%	3.75%	3.56%	2.87%	1.97%	1.15%	1.00%	1.96%	2.14%	2.02%	2.00%	2.14%
TLTX Global X Treasury Bond Enhanced Income ETF	19.20%	7.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PLW and TLTX in my portfolio?

PLW and TLTX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLW or TLTX?

TLTX has higher volatility (2.96%) compared to PLW (1.78%). In terms of maximum drawdown, PLW dropped -32.70% vs TLTX's -6.70%.

Which ETF is better, PLW or TLTX?

On 1-year performance, PLW leads with 0.11% vs -0.71% for TLTX. On fees, PLW is cheaper at 0.25% per year. On volatility, PLW has been the lower-risk option at 1.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLW or TLTX?

Over the 1-year period, PLW has performed better with a 0.11% return vs -0.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLW or TLTX?

PLW is cheaper with a 0.25% expense ratio, compared with 0.29% for TLTX.

Which ETF pays a higher dividend yield, PLW or TLTX?

TLTX has the higher dividend yield at 19.20%, compared with 3.92% for PLW.

What is the main difference between PLW and TLTX?

They also come from different issuers: Invesco and Global X. Their fees differ too: 0.25% for PLW and 0.29% for TLTX.

Which has better risk-adjusted returns?

PLW currently has the higher Sharpe Ratio (0.02 vs -0.08), 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.