TLTP vs. ASA

Last updated Jun 23, 2026

TLTP (Amplify Bloomberg U.S. Treasury Target High Income ETF) is Government Bonds fund tracking the Bloomberg U.S. Treasury 20+ Year 12% Premium Covered Call 2.0 Index, while ASA (ASA Gold and Precious Metals Limited) is a stock. Over the past year, TLTP returned 5.64% vs 79.54% for ASA. At a 0.07 correlation, their price movements are largely independent.

Performance

TLTP vs. ASA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Bloomberg U.S. Treasury Target High Income ETF (TLTP) and ASA Gold and Precious Metals Limited (ASA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLTP achieves a 0.90% return, which is significantly higher than ASA's -2.00% return.

TLTP

• 1D: -0.58%
• 1M: 1.71%
• YTD: 0.90%
• 6M: 1.04%
• 1Y: 5.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASA

• 1D: -1.30%
• 1M: -1.85%
• YTD: -2.00%
• 6M: -5.06%
• 1Y: 79.54%
• 3Y*: 58.58%
• 5Y*: 21.94%
• 10Y*: 15.72%

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

TLTP vs. ASA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TLTP Amplify Bloomberg U.S. Treasury Target High Income ETF	0.90%	5.39%	-3.31%
ASA ASA Gold and Precious Metals Limited	-2.00%	195.60%	-9.03%

Correlation

The correlation between TLTP and ASA is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024	0.07

Return for Risk

TLTP vs. ASA — Risk / Return Rank

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

TLTP

TLTP Risk / Return Rank: 21
TLTP Sharpe Ratio Rank: 22
TLTP Sortino Ratio Rank: 21
TLTP Omega Ratio Rank: 20
TLTP Calmar Ratio Rank: 22
TLTP Martin Ratio Rank: 22

ASA

ASA Risk / Return Rank: 79
ASA Sharpe Ratio Rank: 84
ASA Sortino Ratio Rank: 77
ASA Omega Ratio Rank: 77
ASA Calmar Ratio Rank: 78
ASA Martin Ratio Rank: 79

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.

TLTP vs. ASA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Bloomberg U.S. Treasury Target High Income ETF (TLTP) and ASA Gold and Precious Metals Limited (ASA). 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.

	TLTP	ASA	Difference
Sharpe ratio: Return per unit of total volatility	0.77	1.62	-0.85
Sortino ratio: Return per unit of downside risk	1.13	2.00	-0.88
Omega ratio: Gain probability vs. loss probability	1.14	1.27	-0.13
Calmar ratio: Return relative to maximum drawdown	0.98	2.25	-1.27
Martin ratio: Return relative to average drawdown	2.56	5.96	-3.40

TLTP vs. ASA - Sharpe Ratio Comparison

The current TLTP Sharpe Ratio is 0.77, which is lower than the ASA Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of TLTP and ASA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TLTP vs. ASA - Drawdown Comparison

The maximum TLTP drawdown since its inception was -8.54%, smaller than the maximum ASA drawdown of -80.36%. Use the drawdown chart below to compare losses from any high point for TLTP and ASA.

Drawdown Indicators

	TLTP	ASA	Difference
Max Drawdown Largest peak-to-trough decline	-8.54%	-80.36%	+71.82%
Max Drawdown (1Y) Largest decline over 1 year	-5.76%	-35.50%	+29.74%
Max Drawdown (3Y) Largest decline over 3 years	—	-35.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-48.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.66%	—
Current Drawdown Current decline from peak	-2.52%	-28.06%	+25.54%
Average Drawdown Average peak-to-trough decline	-3.24%	-42.52%	+39.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	13.38%	-11.17%

Volatility

TLTP vs. ASA - Volatility Comparison

The current volatility for Amplify Bloomberg U.S. Treasury Target High Income ETF (TLTP) is 1.66%, while ASA Gold and Precious Metals Limited (ASA) has a volatility of 17.84%. This indicates that TLTP experiences smaller price fluctuations and is considered to be less risky than ASA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLTP	ASA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	17.84%	-16.18%
Volatility (6M) Calculated over the trailing 6-month period	5.14%	41.21%	-36.07%
Volatility (1Y) Calculated over the trailing 1-year period	7.39%	49.38%	-41.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.76%	35.56%	-25.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.76%	35.61%	-25.85%

Dividends

TLTP vs. ASA - Dividend Comparison

TLTP's dividend yield for the trailing twelve months is around 13.07%, more than ASA's 0.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASA ASA Gold and Precious Metals Limited	0.12%	0.10%	0.20%	0.13%	0.14%	0.09%	0.09%	0.15%	0.32%	0.35%	0.36%	0.56%
TLTP Amplify Bloomberg U.S. Treasury Target High Income ETF	13.07%	12.53%	2.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TLTP and ASA in my portfolio?

TLTP and ASA have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLTP or ASA?

ASA has higher volatility (17.84%) compared to TLTP (1.66%). In terms of maximum drawdown, TLTP dropped -8.54% vs ASA's -80.36%.

Which has better risk-adjusted returns?

ASA currently has the higher Sharpe Ratio (1.62 vs 0.77), 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.