SNOY vs. TLTX

Last updated Jun 25, 2026

SNOY (YieldMax SNOW Option Income Strategy ETF) and TLTX (Global X Treasury Bond Enhanced Income ETF) are both exchange-traded funds - SNOY 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. At a 0.07 correlation, their price movements are largely independent. SNOY charges 0.99%/yr vs 0.29%/yr for TLTX.

Performance

SNOY vs. TLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax SNOW Option Income Strategy ETF (SNOY) 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, SNOY achieves a 7.77% return, which is significantly higher than TLTX's 1.95% return.

SNOY

• 1D: -1.41%
• 1M: 37.61%
• YTD: 7.77%
• 6M: 7.39%
• 1Y: 4.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TLTX

• 1D: 0.82%
• 1M: 2.89%
• YTD: 1.95%
• 6M: 1.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SNOY vs. TLTX - Yearly Performance Comparison

	2026 (YTD)	2025
SNOY YieldMax SNOW Option Income Strategy ETF	7.77%	-0.06%
TLTX Global X Treasury Bond Enhanced Income ETF	1.95%	6.02%

Correlation

The correlation between SNOY and TLTX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.07

Return for Risk

SNOY vs. TLTX — Risk / Return Rank

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

SNOY

SNOY Risk / Return Rank: 11
SNOY Sharpe Ratio Rank: 10
SNOY Sortino Ratio Rank: 13
SNOY Omega Ratio Rank: 13
SNOY Calmar Ratio Rank: 10
SNOY Martin Ratio Rank: 10

TLTX

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

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.

SNOY vs. TLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax SNOW Option Income Strategy ETF (SNOY) 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.

	SNOY	TLTX	Difference
Sharpe ratio: Return per unit of total volatility	0.07	—	—
Sortino ratio: Return per unit of downside risk	0.59	—	—
Omega ratio: Gain probability vs. loss probability	1.08	—	—
Calmar ratio: Return relative to maximum drawdown	0.08	—	—
Martin ratio: Return relative to average drawdown	0.17	—	—

Drawdowns

SNOY vs. TLTX - Drawdown Comparison

The maximum SNOY drawdown since its inception was -50.90%, which is greater than TLTX's maximum drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for SNOY and TLTX.

Drawdown Indicators

	SNOY	TLTX	Difference
Max Drawdown Largest peak-to-trough decline	-50.90%	-6.35%	-44.55%
Max Drawdown (1Y) Largest decline over 1 year	-50.90%	—	—
Current Drawdown Current decline from peak	-12.54%	-1.82%	-10.72%
Average Drawdown Average peak-to-trough decline	-12.66%	-2.29%	-10.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.10%	—	—

Volatility

Volatility by Period

	SNOY	TLTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	47.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	57.61%	9.28%	+48.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.63%	9.28%	+42.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.63%	9.28%	+42.35%

SNOY vs. TLTX - Expense Ratio Comparison

SNOY has a 0.99% expense ratio, which is higher than TLTX's 0.29% expense ratio.

Dividends

SNOY vs. TLTX - Dividend Comparison

SNOY's dividend yield for the trailing twelve months is around 74.29%, more than TLTX's 17.11% yield.

Position	TTM	2025	2024
SNOY YieldMax SNOW Option Income Strategy ETF	74.29%	84.96%	33.32%
TLTX Global X Treasury Bond Enhanced Income ETF	17.11%	7.54%	0.00%

Frequently Asked Questions

Can I hold both SNOY and TLTX in my portfolio?

SNOY and TLTX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SNOY or TLTX?

On fees, TLTX is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SNOY or TLTX?

TLTX is cheaper with a 0.29% expense ratio, compared with 0.99% for SNOY.

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

SNOY has the higher dividend yield at 74.29%, compared with 17.11% for TLTX.

What is the main difference between SNOY and TLTX?

SNOY is categorized as Derivative Income, while TLTX is Government Bonds. They also come from different issuers: YieldMax and Global X. Their fees differ too: 0.99% for SNOY and 0.29% for TLTX.