TLTP vs. FALN
TLTP (Amplify Bloomberg U.S. Treasury Target High Income ETF) and FALN (iShares Fallen Angels USD Bond ETF) are both exchange-traded funds - TLTP is a Government Bonds fund tracking the Bloomberg U.S. Treasury 20+ Year 12% Premium Covered Call 2.0 Index, while FALN is a High Yield Bonds fund tracking the Bloomberg US High Yield Fallen Angel 3% Capped Index. Both are passively managed. Over the past year, TLTP returned 5.64% vs 7.88% for FALN. At a 0.47 correlation, their price movements are largely independent. TLTP charges 0.38%/yr vs 0.25%/yr for FALN.
Performance
TLTP vs. FALN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TLTP achieves a 0.90% return, which is significantly lower than FALN's 2.24% return.
TLTP
- 1D
- -0.58%
- 1M
- 1.71%
- YTD
- 0.90%
- 6M
- 1.04%
- 1Y
- 5.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FALN
- 1D
- -0.11%
- 1M
- 1.07%
- YTD
- 2.24%
- 6M
- 2.46%
- 1Y
- 7.88%
- 3Y*
- 9.39%
- 5Y*
- 3.76%
- 10Y*
- 6.60%
TLTP vs. FALN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TLTP Amplify Bloomberg U.S. Treasury Target High Income ETF | 0.90% | 5.39% | -3.31% |
FALN iShares Fallen Angels USD Bond ETF | 2.24% | 8.92% | 0.16% |
Correlation
The correlation between TLTP and FALN is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024 | 0.47 |
The correlation between TLTP and FALN has been stable across timeframes, ranging from 0.47 to 0.51 - a consistent structural relationship.
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
TLTP vs. FALN — Risk / Return Rank
TLTP
FALN
TLTP vs. FALN - 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 iShares Fallen Angels USD Bond ETF (FALN). 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 | FALN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.33 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | 2.00 | -1.01 |
| Martin ratioReturn relative to average drawdown | 2.56 | 8.32 | -5.76 |
Loading charts...
Drawdowns
TLTP vs. FALN - Drawdown Comparison
The maximum TLTP drawdown since its inception was -8.54%, smaller than the maximum FALN drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for TLTP and FALN.
Loading charts...
Drawdown Indicators
| TLTP | FALN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.54% | -29.22% | +20.68% |
Max Drawdown (1Y)Largest decline over 1 year | -5.76% | -3.96% | -1.80% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.92% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.78% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.22% | — |
Current DrawdownCurrent decline from peak | -2.52% | -0.11% | -2.41% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -3.31% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 0.95% | +1.26% |
Volatility
TLTP vs. FALN - Volatility Comparison
Amplify Bloomberg U.S. Treasury Target High Income ETF (TLTP) has a higher volatility of 1.66% compared to iShares Fallen Angels USD Bond ETF (FALN) at 1.18%. This indicates that TLTP's price experiences larger fluctuations and is considered to be riskier than FALN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TLTP | FALN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 1.18% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 5.14% | 3.73% | +1.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.39% | 4.60% | +2.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.76% | 7.33% | +2.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.76% | 8.94% | +0.82% |
TLTP vs. FALN - Expense Ratio Comparison
TLTP has a 0.38% expense ratio, which is higher than FALN's 0.25% expense ratio.
Dividends
TLTP vs. FALN - Dividend Comparison
TLTP's dividend yield for the trailing twelve months is around 13.07%, more than FALN's 6.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FALN iShares Fallen Angels USD Bond ETF | 6.42% | 6.31% | 6.24% | 5.37% | 5.08% | 3.40% | 5.14% | 5.35% | 5.97% | 6.98% | 3.55% |
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% |
Frequently Asked Questions
TLTP and FALN have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLTP has higher volatility (1.66%) compared to FALN (1.18%). In terms of maximum drawdown, TLTP dropped -8.54% vs FALN's -29.22%.
On 1-year performance, FALN leads with 7.88% vs 5.64% for TLTP. On fees, FALN is cheaper at 0.25% per year. On volatility, FALN has been the lower-risk option at 1.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FALN has performed better with a 7.88% return vs 5.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FALN is cheaper with a 0.25% expense ratio, compared with 0.38% for TLTP.
TLTP has the higher dividend yield at 13.07%, compared with 6.42% for FALN.
TLTP is categorized as Government Bonds, while FALN is High Yield Bonds. TLTP tracks Bloomberg U.S. Treasury 20+ Year 12% Premium Covered Call 2.0 Index, while FALN tracks Bloomberg US High Yield Fallen Angel 3% Capped Index. They also come from different issuers: Amplify and iShares. Their fees differ too: 0.38% for TLTP and 0.25% for FALN.
FALN currently has the higher Sharpe Ratio (1.72 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.
Find the right allocation for TLTP and FALN
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