QBER vs. TLTW
QBER (TrueShares Quarterly Bear Hedge ETF) and TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) are both exchange-traded funds - QBER is a Options Trading fund actively managed by TrueShares, while TLTW is a Derivative Income fund tracking the CBOE TLT 2% OTM Buywrite Index (USD). QBER is actively managed, while TLTW is passively managed. Over the past year, QBER returned -0.12% vs 9.03% for TLTW. At a correlation of -0.11, they often move in opposite directions. QBER charges 0.79%/yr vs 0.35%/yr for TLTW.
Performance
QBER vs. TLTW - Performance Comparison
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Returns By Period
In the year-to-date period, QBER achieves a -0.35% return, which is significantly lower than TLTW's 2.36% return.
QBER
- 1D
- 0.15%
- 1M
- 0.40%
- YTD
- -0.35%
- 6M
- 0.28%
- 1Y
- -0.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLTW
- 1D
- 0.18%
- 1M
- 2.22%
- YTD
- 2.36%
- 6M
- 2.13%
- 1Y
- 9.03%
- 3Y*
- 0.58%
- 5Y*
- —
- 10Y*
- —
QBER vs. TLTW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QBER TrueShares Quarterly Bear Hedge ETF | -0.35% | 0.25% | 0.04% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 2.36% | 11.36% | -0.24% |
Correlation
The correlation between QBER and TLTW is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024 | -0.11 |
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Return for Risk
QBER vs. TLTW — Risk / Return Rank
QBER
TLTW
QBER vs. TLTW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares Quarterly Bear Hedge ETF (QBER) 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.
| QBER | TLTW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.21 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 1.52 | -1.57 |
| Martin ratioReturn relative to average drawdown | -0.12 | 4.36 | -4.48 |
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Drawdowns
QBER vs. TLTW - Drawdown Comparison
The maximum QBER drawdown since its inception was -5.72%, smaller than the maximum TLTW drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for QBER and TLTW.
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Drawdown Indicators
| QBER | TLTW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.72% | -18.61% | +12.89% |
Max Drawdown (1Y)Largest decline over 1 year | -2.35% | -5.97% | +3.62% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.19% | — |
Current DrawdownCurrent decline from peak | -5.11% | -2.10% | -3.01% |
Average DrawdownAverage peak-to-trough decline | -4.73% | -8.17% | +3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 2.08% | -1.02% |
Volatility
QBER vs. TLTW - Volatility Comparison
The current volatility for TrueShares Quarterly Bear Hedge ETF (QBER) is 1.03%, while iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) has a volatility of 1.66%. This indicates that QBER 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
| QBER | TLTW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 1.66% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 5.80% | -2.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 7.62% | -3.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 11.33% | -5.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.33% | 11.33% | -5.00% |
QBER vs. TLTW - Expense Ratio Comparison
QBER has a 0.79% expense ratio, which is higher than TLTW's 0.35% expense ratio.
Dividends
QBER vs. TLTW - Dividend Comparison
QBER's dividend yield for the trailing twelve months is around 3.27%, less than TLTW's 11.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
QBER TrueShares Quarterly Bear Hedge ETF | 3.27% | 3.26% | 1.35% | 0.00% | 0.00% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 11.62% | 14.82% | 14.47% | 19.59% | 8.71% |
Frequently Asked Questions
QBER and TLTW have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLTW has higher volatility (1.66%) compared to QBER (1.03%). In terms of maximum drawdown, QBER dropped -5.72% vs TLTW's -18.61%.
On 1-year performance, TLTW leads with 9.03% vs -0.12% for QBER. On fees, TLTW is cheaper at 0.35% per year. On volatility, QBER has been the lower-risk option at 1.03%. 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 9.03% return vs -0.12%. 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 QBER.
TLTW has the higher dividend yield at 11.62%, compared with 3.27% for QBER.
QBER is categorized as Options Trading, while TLTW is Derivative Income. They also come from different issuers: TrueShares and iShares. Their fees differ too: 0.79% for QBER and 0.35% for TLTW.
TLTW currently has the higher Sharpe Ratio (1.19 vs -0.03), 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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