SMYY vs. TLTW

Last updated Apr 1, 2026

Compare and contrast key facts about GraniteShares YieldBOOST SMCI ETF (SMYY) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW).

SMYY and TLTW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMYY is managed by GraniteShares. TLTW is a passively managed fund by iShares that tracks the performance of the CBOE TLT 2% OTM Buywrite Index (USD). It was launched on Jun 18, 2022.

Performance

SMYY vs. TLTW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST SMCI ETF (SMYY) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW). The values are adjusted to include any dividend payments, if applicable.

SMYY vs. TLTW - Yearly Performance Comparison

	2026 (YTD)	2025
SMYY GraniteShares YieldBOOST SMCI ETF	-3.06%	-27.52%
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF	1.44%	0.77%

Returns By Period

In the year-to-date period, SMYY achieves a -3.06% return, which is significantly lower than TLTW's 1.44% return.

SMYY

• 1D: 2.49%
• 1M: -5.82%
• YTD: -3.06%
• 6M: -29.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TLTW

• 1D: 0.22%
• 1M: -2.98%
• YTD: 1.44%
• 6M: 2.22%
• 1Y: 7.46%
• 3Y*: 0.70%
• 5Y*: —
• 10Y*: —

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

SMYY vs. TLTW - Expense Ratio Comparison

SMYY has a 1.07% expense ratio, which is higher than TLTW's 0.35% expense ratio.

SMYY

GraniteShares YieldBOOST SMCI ETF

TLTW

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF

Return for Risk

SMYY vs. TLTW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TLTW

TLTW Risk / Return Rank: 48
TLTW Sharpe Ratio Rank: 50
TLTW Sortino Ratio Rank: 45
TLTW Omega Ratio Rank: 42
TLTW Calmar Ratio Rank: 61
TLTW Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SMYY vs. TLTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST SMCI ETF (SMYY) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SMYY	TLTW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.45	-0.03	-1.43

Correlation

The correlation between SMYY and TLTW is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SMYY vs. TLTW - Dividend Comparison

SMYY's dividend yield for the trailing twelve months is around 117.41%, more than TLTW's 13.66% yield.

	TTM	2025	2024	2023	2022
SMYY GraniteShares YieldBOOST SMCI ETF	117.41%	53.33%	0.00%	0.00%	0.00%
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF	13.66%	14.82%	14.47%	19.59%	8.71%

Drawdowns

SMYY vs. TLTW - Drawdown Comparison

The maximum SMYY drawdown since its inception was -36.84%, which is greater than TLTW's maximum drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for SMYY and TLTW.

Drawdown Indicators

	SMYY	TLTW	Difference
Max Drawdown Largest peak-to-trough decline	-36.84%	-18.61%	-18.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.80%	—
Current Drawdown Current decline from peak	-35.26%	-2.98%	-32.28%
Average Drawdown Average peak-to-trough decline	-23.05%	-8.49%	-14.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.20%	—

Volatility

Volatility by Period

	SMYY	TLTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.46%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.80%	—
Volatility (1Y) Calculated over the trailing 1-year period	35.19%	8.91%	+26.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.19%	11.55%	+23.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.19%	11.55%	+23.64%