SDTY vs. TLTX

Last updated Aug 4, 2026

SDTY (YieldMax S&P 500 0DTE Covered Call Strategy ETF) and TLTX (Global X Treasury Bond Enhanced Income ETF) are both exchange-traded funds - SDTY is a Derivative Income fund actively managed by YieldMax, while TLTX is a Government Bonds fund actively managed by Global X. Both are actively managed. Over the past year, SDTY returned 21.18% vs -0.57% for TLTX. Their 0.25 correlation means their historical movements had little consistent relationship. SDTY charges 1.01%/yr vs 0.29%/yr for TLTX.

Performance

SDTY vs. TLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) 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, SDTY achieves a 10.44% return, which is significantly higher than TLTX's -3.02% return.

SDTY

• 1D: 1.26%
• 1M: 2.69%
• 6M: 8.01%
• YTD: 10.44%
• 1Y: 21.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.76%

TLTX

• 1D: 0.10%
• 1M: -3.42%
• 6M: -2.60%
• YTD: -3.02%
• 1Y: -0.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.69%

*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)
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	$537.49K	$460.25K	$563.86K
TLTX Global X Treasury Bond Enhanced Income ETF	$182.44K	$196.39K	$333.12K

SDTY vs. TLTX - Yearly Performance Comparison

	2026 (YTD)	2025
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	10.44%	9.97%
TLTX Global X Treasury Bond Enhanced Income ETF	-3.02%	6.02%

Correlation

The correlation between SDTY and TLTX is 0.26, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.26
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.25

Return for Risk

SDTY vs. TLTX — Risk / Return Rank

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

SDTY

SDTY Risk / Return Rank: 75
SDTY Sharpe Ratio Rank: 75
SDTY Sortino Ratio Rank: 74
SDTY Omega Ratio Rank: 75
SDTY Calmar Ratio Rank: 73
SDTY Martin Ratio Rank: 79

TLTX

TLTX Risk / Return Rank: 9
TLTX Sharpe Ratio Rank: 10
TLTX Sortino Ratio Rank: 9
TLTX Omega Ratio Rank: 9
TLTX Calmar Ratio Rank: 10
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.

SDTY vs. TLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) 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.

	SDTY	TLTX	Difference
Sharpe ratio: Return per unit of total volatility	1.79	-0.06	+1.85
Sortino ratio: Return per unit of downside risk	2.47	-0.02	+2.49
Omega ratio: Gain probability vs. loss probability	1.32	1.00	+0.32
Calmar ratio: Return relative to maximum drawdown	2.65	-0.09	+2.74
Martin ratio: Return relative to average drawdown	10.57	-0.19	+10.76

SDTY vs. TLTX - Sharpe Ratio Comparison

The current SDTY Sharpe Ratio is 1.79, which is higher than the TLTX Sharpe Ratio of -0.06. The chart below compares the historical Sharpe Ratios of SDTY 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

SDTY vs. TLTX - Drawdown Comparison

The maximum SDTY drawdown since its inception was -18.63%, which is greater than TLTX's maximum drawdown of -6.70%. Use the drawdown chart below to compare losses from any high point for SDTY and TLTX.

Drawdown Indicators

	SDTY	TLTX	Difference
Max Drawdown Largest peak-to-trough decline	-18.63%	-6.70%	-11.93%
Max Drawdown (1Y) Largest decline over 1 year	-8.02%	-6.70%	-1.32%
Current Drawdown Current decline from peak	0.00%	-6.60%	+6.60%
Average Drawdown Average peak-to-trough decline	-2.84%	-2.51%	-0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	3.06%	-1.05%

Volatility

SDTY vs. TLTX - Volatility Comparison

YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) has a higher volatility of 3.66% compared to Global X Treasury Bond Enhanced Income ETF (TLTX) at 2.91%. This indicates that SDTY's price experiences larger fluctuations and is considered to be riskier than TLTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDTY	TLTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	2.91%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	7.29%	+2.09%
Volatility (1Y) Calculated over the trailing 1-year period	11.92%	9.46%	+2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	9.42%	+7.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	9.42%	+7.06%

SDTY vs. TLTX - Expense Ratio Comparison

SDTY has a 1.01% expense ratio, which is higher than TLTX's 0.29% expense ratio.

Dividends

SDTY vs. TLTX - Dividend Comparison

SDTY's dividend yield for the trailing twelve months is around 26.85%, more than TLTX's 19.28% yield.

Position	TTM	2025
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	26.85%	22.00%
TLTX Global X Treasury Bond Enhanced Income ETF	19.28%	7.54%

Frequently Asked Questions

Can I hold both SDTY and TLTX in my portfolio?

SDTY and TLTX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SDTY or TLTX?

SDTY has higher volatility (3.66%) compared to TLTX (2.91%). In terms of maximum drawdown, SDTY dropped -18.63% vs TLTX's -6.70%.

Which ETF is better, SDTY or TLTX?

On 1-year performance, SDTY leads with 21.18% vs -0.57% for TLTX. On fees, TLTX is cheaper at 0.29% per year. On volatility, TLTX has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SDTY or TLTX?

Over the 1-year period, SDTY has performed better with a 21.18% return vs -0.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SDTY or TLTX?

TLTX is cheaper with a 0.29% expense ratio, compared with 1.01% for SDTY.

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

SDTY has the higher dividend yield at 26.85%, compared with 19.28% for TLTX.

What is the main difference between SDTY and TLTX?

SDTY is categorized as Derivative Income, while TLTX is Government Bonds. They also come from different issuers: YieldMax and Global X. Their fees differ too: 1.01% for SDTY and 0.29% for TLTX.

Which has better risk-adjusted returns?

SDTY currently has the higher Sharpe Ratio (1.79 vs -0.06), 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.