SVOL vs. TLTW
SVOL (Simplify Volatility Premium ETF) and TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) are both exchange-traded funds - SVOL is a Volatility fund actively managed by Simplify, while TLTW is a Options Trading fund tracking the CBOE TLT 2% OTM Buywrite Index (USD). SVOL is actively managed, while TLTW is passively managed. Over the past 3 years, SVOL returned 6.58%/yr vs 0.74%/yr for TLTW. At a 0.22 correlation, their price movements are largely independent. SVOL charges 0.50%/yr vs 0.35%/yr for TLTW.
Performance
SVOL vs. TLTW - Performance Comparison
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Returns By Period
In the year-to-date period, SVOL achieves a -0.40% return, which is significantly lower than TLTW's 1.21% return.
SVOL
- 1D
- -0.12%
- 1M
- 2.98%
- YTD
- -0.40%
- 6M
- 1.29%
- 1Y
- 10.62%
- 3Y*
- 6.58%
- 5Y*
- 6.70%
- 10Y*
- —
TLTW
- 1D
- -0.23%
- 1M
- 0.76%
- YTD
- 1.21%
- 6M
- -0.20%
- 1Y
- 10.46%
- 3Y*
- 0.74%
- 5Y*
- —
- 10Y*
- —
SVOL vs. TLTW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SVOL Simplify Volatility Premium ETF | -0.40% | 2.41% | 6.77% | 22.88% | 2.77% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 1.21% | 11.36% | -2.18% | 0.73% | -11.09% |
Correlation
The correlation between SVOL and TLTW is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.22 |
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Return for Risk
SVOL vs. TLTW — Risk / Return Rank
SVOL
TLTW
SVOL vs. TLTW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Volatility Premium ETF (SVOL) 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.
| SVOL | TLTW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.24 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 1.76 | -0.94 |
| Martin ratioReturn relative to average drawdown | 1.94 | 5.28 | -3.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SVOL | TLTW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.51 | 1.37 | -0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | -0.03 | +0.38 |
Drawdowns
SVOL vs. TLTW - Drawdown Comparison
The maximum SVOL drawdown since its inception was -33.50%, which is greater than TLTW's maximum drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for SVOL and TLTW.
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Drawdown Indicators
| SVOL | TLTW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.50% | -18.61% | -14.89% |
Max Drawdown (1Y)Largest decline over 1 year | -13.01% | -5.97% | -7.04% |
Max Drawdown (3Y)Largest decline over 3 years | -33.50% | -17.19% | -16.31% |
Max Drawdown (5Y)Largest decline over 5 years | -33.50% | — | — |
Current DrawdownCurrent decline from peak | -2.98% | -3.20% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -4.77% | -8.25% | +3.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.49% | 1.99% | +3.50% |
Volatility
SVOL vs. TLTW - Volatility Comparison
The current volatility for Simplify Volatility Premium ETF (SVOL) is 1.41%, while iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) has a volatility of 2.48%. This indicates that SVOL 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.
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Volatility by Period
| SVOL | TLTW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 2.48% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 9.57% | 5.79% | +3.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.90% | 7.70% | +13.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.99% | 11.39% | +10.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.92% | 11.39% | +10.53% |
SVOL vs. TLTW - Expense Ratio Comparison
SVOL has a 0.50% expense ratio, which is higher than TLTW's 0.35% expense ratio.
Dividends
SVOL vs. TLTW - Dividend Comparison
SVOL's dividend yield for the trailing twelve months is around 22.10%, more than TLTW's 11.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SVOL Simplify Volatility Premium ETF | 22.10% | 19.82% | 16.79% | 16.36% | 18.32% | 4.65% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 11.76% | 14.82% | 14.47% | 19.59% | 8.71% | 0.00% |
Frequently Asked Questions
SVOL and TLTW have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLTW has higher volatility (2.48%) compared to SVOL (1.41%). In terms of maximum drawdown, SVOL dropped -33.50% vs TLTW's -18.61%.
On 3-year performance, SVOL leads with 6.58% vs 0.74% for TLTW. On fees, TLTW is cheaper at 0.35% per year. On volatility, SVOL has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SVOL has performed better with a 6.58% return vs 0.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLTW is cheaper with a 0.35% expense ratio, compared with 0.50% for SVOL.
SVOL has the higher dividend yield at 22.10%, compared with 11.76% for TLTW.
SVOL is categorized as Volatility, while TLTW is Options Trading. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.50% for SVOL and 0.35% for TLTW.
TLTW currently has the higher Sharpe Ratio (1.37 vs 0.51), 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.
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