SPP7.DE vs. TLTW

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF (SPP7.DE) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW).

SPP7.DE and TLTW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPP7.DE is a passively managed fund by State Street that tracks the performance of the Bloomberg US 7-10 Year Treasury Bond. It was launched on Feb 17, 2016. 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. Both SPP7.DE and TLTW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPP7.DE vs. TLTW - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF (SPP7.DE) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW). The values are adjusted to include any dividend payments, if applicable.

SPP7.DE vs. TLTW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SPP7.DE SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF	0.70%	-3.30%	5.21%	1.24%	-11.70%
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF	2.95%	-1.85%	4.27%	-2.29%	-17.40%

Different Trading Currencies

SPP7.DE is traded in EUR, while TLTW is traded in USD. To make them comparable, the TLTW values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPP7.DE achieves a 0.70% return, which is significantly lower than TLTW's 2.95% return.

SPP7.DE

• 1D: -0.65%
• 1M: -1.04%
• YTD: 0.70%
• 6M: 1.70%
• 1Y: -3.57%
• 3Y*: 0.24%
• 5Y*: -0.15%
• 10Y*: 0.73%

TLTW

• 1D: -0.15%
• 1M: -1.50%
• YTD: 2.95%
• 6M: 3.31%
• 1Y: -0.52%
• 3Y*: -1.47%
• 5Y*: —
• 10Y*: —

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

SPP7.DE vs. TLTW - Expense Ratio Comparison

SPP7.DE has a 0.15% expense ratio, which is lower than TLTW's 0.35% expense ratio.

TLTW

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF

SPP7.DE

SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF

Return for Risk

SPP7.DE vs. TLTW — Risk / Return Rank

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

SPP7.DE

SPP7.DE Risk / Return Rank: 5
SPP7.DE Sharpe Ratio Rank: 5
SPP7.DE Sortino Ratio Rank: 4
SPP7.DE Omega Ratio Rank: 4
SPP7.DE Calmar Ratio Rank: 6
SPP7.DE Martin Ratio Rank: 7

TLTW

TLTW Risk / Return Rank: 37
TLTW Sharpe Ratio Rank: 38
TLTW Sortino Ratio Rank: 34
TLTW Omega Ratio Rank: 32
TLTW Calmar Ratio Rank: 47
TLTW Martin Ratio Rank: 36

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.

SPP7.DE vs. TLTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF (SPP7.DE) 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.

	SPP7.DE	TLTW	Difference
Sharpe ratio Return per unit of total volatility	-0.44	-0.05	-0.40
Sortino ratio Return per unit of downside risk	-0.53	0.01	-0.54
Omega ratio Gain probability vs. loss probability	0.93	1.00	-0.07
Calmar ratio Return relative to maximum drawdown	-0.36	0.04	-0.40
Martin ratio Return relative to average drawdown	-0.58	0.08	-0.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPP7.DE vs. TLTW - Sharpe Ratio Comparison

The current SPP7.DE Sharpe Ratio is -0.44, which is lower than the TLTW Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of SPP7.DE and TLTW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPP7.DE	TLTW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.44	-0.05	-0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	-0.36	+0.42

Correlation

The correlation between SPP7.DE and TLTW is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SPP7.DE vs. TLTW - Dividend Comparison

SPP7.DE's dividend yield for the trailing twelve months is around 4.06%, less than TLTW's 13.67% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SPP7.DE SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF	4.06%	4.20%	3.47%	4.07%	1.66%	0.97%	1.69%	2.33%	1.98%	1.99%	0.70%
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF	13.67%	14.82%	14.47%	19.59%	8.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SPP7.DE vs. TLTW - Drawdown Comparison

The maximum SPP7.DE drawdown since its inception was -20.31%, smaller than the maximum TLTW drawdown of -24.13%. Use the drawdown chart below to compare losses from any high point for SPP7.DE and TLTW.

Drawdown Indicators

	SPP7.DE	TLTW	Difference
Max Drawdown Largest peak-to-trough decline	-20.31%	-18.61%	-1.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.16%	-5.80%	-2.36%
Max Drawdown (5Y) Largest decline over 5 years	-14.56%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-20.31%	—	—
Current Drawdown Current decline from peak	-14.91%	-3.02%	-11.89%
Average Drawdown Average peak-to-trough decline	-10.54%	-8.49%	-2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.06%	2.21%	+2.85%

Volatility

SPP7.DE vs. TLTW - Volatility Comparison

The current volatility for SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF (SPP7.DE) is 2.17%, while iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) has a volatility of 3.33%. This indicates that SPP7.DE 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.

Volatility by Period

	SPP7.DE	TLTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.17%	3.33%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	4.19%	6.63%	-2.44%
Volatility (1Y) Calculated over the trailing 1-year period	8.05%	11.41%	-3.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.17%	12.28%	-3.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.52%	12.28%	-3.76%