TLTI.L vs. MSTI.L

Last updated Apr 2, 2026

Compare and contrast key facts about IncomeShares 20+ Year Treasury (TLT) Options ETP (TLTI.L) and IncomeShares Microstrategy (MSTR) Options ETP (MSTI.L).

TLTI.L and MSTI.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TLTI.L is an actively managed fund by Leverage Shares. It was launched on Jun 27, 2025. MSTI.L is an actively managed fund by Leverage Shares. It was launched on Jun 27, 2025.

Performance

TLTI.L vs. MSTI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IncomeShares 20+ Year Treasury (TLT) Options ETP (TLTI.L) and IncomeShares Microstrategy (MSTR) Options ETP (MSTI.L). The values are adjusted to include any dividend payments, if applicable.

TLTI.L vs. MSTI.L - Yearly Performance Comparison

	2026 (YTD)	2025
TLTI.L IncomeShares 20+ Year Treasury (TLT) Options ETP	-2.31%	-0.47%
MSTI.L IncomeShares Microstrategy (MSTR) Options ETP	-44.04%	-61.38%

Returns By Period

In the year-to-date period, TLTI.L achieves a -2.31% return, which is significantly higher than MSTI.L's -44.04% return.

TLTI.L

• 1D: -1.39%
• 1M: -3.72%
• YTD: -2.31%
• 6M: -4.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTI.L

• 1D: -6.55%
• 1M: -18.01%
• YTD: -44.04%
• 6M: -74.13%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TLTI.L vs. MSTI.L - Expense Ratio Comparison

Both TLTI.L and MSTI.L have an expense ratio of 0.55%.

TLTI.L

IncomeShares 20+ Year Treasury (TLT) Options ETP

MSTI.L

IncomeShares Microstrategy (MSTR) Options ETP

Return for Risk

TLTI.L vs. MSTI.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IncomeShares 20+ Year Treasury (TLT) Options ETP (TLTI.L) and IncomeShares Microstrategy (MSTR) Options ETP (MSTI.L). 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

	TLTI.L	MSTI.L	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.34	-1.41	+1.07

Correlation

The correlation between TLTI.L and MSTI.L is 0.12, 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

TLTI.L vs. MSTI.L - Dividend Comparison

TLTI.L's dividend yield for the trailing twelve months is around 0.07%, less than MSTI.L's 0.79% yield.

	TTM	2025
TLTI.L IncomeShares 20+ Year Treasury (TLT) Options ETP	0.07%	0.02%
MSTI.L IncomeShares Microstrategy (MSTR) Options ETP	0.79%	0.16%

Drawdowns

TLTI.L vs. MSTI.L - Drawdown Comparison

The maximum TLTI.L drawdown since its inception was -10.31%, smaller than the maximum MSTI.L drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for TLTI.L and MSTI.L.

Drawdown Indicators

	TLTI.L	MSTI.L	Difference
Max Drawdown Largest peak-to-trough decline	-10.31%	-81.66%	+71.35%
Current Drawdown Current decline from peak	-8.28%	-81.66%	+73.38%
Average Drawdown Average peak-to-trough decline	-3.90%	-47.05%	+43.15%

Volatility

Volatility by Period

	TLTI.L	MSTI.L	Difference
Volatility (1Y) Calculated over the trailing 1-year period	10.49%	61.52%	-51.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.49%	61.52%	-51.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.49%	61.52%	-51.03%