SQY vs. TLT
SQY (YieldMax SQ Option Income Strategy ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - SQY is a Derivative Income fund actively managed by YieldMax, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. SQY is actively managed, while TLT is passively managed. Over the past year, SQY returned -0.20% vs 4.93% for TLT. At a 0.20 correlation, their price movements are largely independent. SQY charges 1.01%/yr vs 0.15%/yr for TLT.
Performance
SQY vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SQY achieves a -1.01% return, which is significantly lower than TLT's -0.27% return.
SQY
- 1D
- -5.22%
- 1M
- -4.39%
- YTD
- -1.01%
- 6M
- 6.08%
- 1Y
- -0.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- -0.40%
- 1M
- 0.81%
- YTD
- -0.27%
- 6M
- -2.02%
- 1Y
- 4.93%
- 3Y*
- -1.80%
- 5Y*
- -6.31%
- 10Y*
- -1.66%
SQY vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SQY YieldMax SQ Option Income Strategy ETF | -1.01% | -29.43% | 21.72% | 44.45% |
TLT iShares 20+ Year Treasury Bond ETF | -0.27% | 4.25% | -8.05% | 12.87% |
Correlation
The correlation between SQY and TLT is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2023 | 0.20 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SQY vs. TLT — Risk / Return Rank
SQY
TLT
SQY vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax SQ Option Income Strategy ETF (SQY) and iShares 20+ Year Treasury Bond ETF (TLT). 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.
| SQY | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.09 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 0.65 | -0.66 |
| Martin ratioReturn relative to average drawdown | -0.01 | 1.63 | -1.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SQY | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 0.51 | -0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.40 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.26 | -0.06 |
Drawdowns
SQY vs. TLT - Drawdown Comparison
The maximum SQY drawdown since its inception was -52.30%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for SQY and TLT.
Loading charts...
Drawdown Indicators
| SQY | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.30% | -48.35% | -3.95% |
Max Drawdown (1Y)Largest decline over 1 year | -37.72% | -7.58% | -30.14% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -37.84% | -40.44% | +2.60% |
Average DrawdownAverage peak-to-trough decline | -21.82% | -13.82% | -8.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.18% | 3.04% | +14.14% |
Volatility
SQY vs. TLT - Volatility Comparison
YieldMax SQ Option Income Strategy ETF (SQY) has a higher volatility of 10.82% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. This indicates that SQY's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SQY | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.82% | 2.76% | +8.06% |
Volatility (6M)Calculated over the trailing 6-month period | 31.08% | 6.50% | +24.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.83% | 9.77% | +29.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.20% | 15.87% | +26.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.20% | 14.91% | +27.29% |
SQY vs. TLT - Expense Ratio Comparison
SQY has a 1.01% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
SQY vs. TLT - Dividend Comparison
SQY's dividend yield for the trailing twelve months is around 109.42%, more than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SQY YieldMax SQ Option Income Strategy ETF | 109.42% | 95.35% | 62.54% | 9.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.59% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
SQY and TLT have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQY has higher volatility (10.82%) compared to TLT (2.76%). In terms of maximum drawdown, SQY dropped -52.30% vs TLT's -48.35%.
On 1-year performance, TLT leads with 4.93% vs -0.20% for SQY. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TLT has performed better with a 4.93% return vs -0.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 1.01% for SQY.
SQY has the higher dividend yield at 109.42%, compared with 4.59% for TLT.
SQY is categorized as Derivative Income, while TLT is Government Bonds. They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.01% for SQY and 0.15% for TLT.
TLT currently has the higher Sharpe Ratio (0.51 vs -0.01), 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.
Find the right allocation for SQY and TLT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer