TLTP vs. PIT

Last updated Jun 23, 2026

TLTP (Amplify Bloomberg U.S. Treasury Target High Income ETF) and PIT (VanEck Commodity Strategy 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 PIT is a Commodities fund actively managed by VanEck. TLTP is passively managed, while PIT is actively managed. Over the past year, TLTP returned 5.64% vs 38.33% for PIT. At a correlation of -0.18, they often move in opposite directions. TLTP charges 0.38%/yr vs 0.55%/yr for PIT.

Performance

TLTP vs. PIT - 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 VanEck Commodity Strategy ETF (PIT). 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 lower than PIT's 27.31% return.

TLTP

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

PIT

• 1D: -0.75%
• 1M: -10.60%
• YTD: 27.31%
• 6M: 26.74%
• 1Y: 38.33%
• 3Y*: 19.51%
• 5Y*: —
• 10Y*: —

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

TLTP vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TLTP Amplify Bloomberg U.S. Treasury Target High Income ETF	0.90%	5.39%	-3.31%
PIT VanEck Commodity Strategy ETF	27.31%	21.63%	1.63%

Correlation

The correlation between TLTP and PIT is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.29
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024	-0.18

The correlation between TLTP and PIT shifts across timeframes, from -0.29 (1 year) to -0.18 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TLTP vs. PIT — 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

PIT

PIT Risk / Return Rank: 55
PIT Sharpe Ratio Rank: 54
PIT Sortino Ratio Rank: 48
PIT Omega Ratio Rank: 52
PIT Calmar Ratio Rank: 57
PIT Martin Ratio Rank: 62

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. PIT - 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 VanEck Commodity Strategy ETF (PIT). 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	PIT	Difference
Sharpe ratio: Return per unit of total volatility	0.77	1.78	-1.01
Sortino ratio: Return per unit of downside risk	1.13	2.32	-1.19
Omega ratio: Gain probability vs. loss probability	1.14	1.32	-0.18
Calmar ratio: Return relative to maximum drawdown	0.98	2.74	-1.76
Martin ratio: Return relative to average drawdown	2.56	10.88	-8.32

TLTP vs. PIT - Sharpe Ratio Comparison

The current TLTP Sharpe Ratio is 0.77, which is lower than the PIT Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of TLTP and PIT, 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. PIT - Drawdown Comparison

The maximum TLTP drawdown since its inception was -8.54%, smaller than the maximum PIT drawdown of -14.05%. Use the drawdown chart below to compare losses from any high point for TLTP and PIT.

Drawdown Indicators

	TLTP	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-8.54%	-14.05%	+5.51%
Max Drawdown (1Y) Largest decline over 1 year	-5.76%	-14.05%	+8.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.05%	—
Current Drawdown Current decline from peak	-2.52%	-14.05%	+11.53%
Average Drawdown Average peak-to-trough decline	-3.24%	-4.07%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	3.59%	-1.38%

Volatility

TLTP vs. PIT - Volatility Comparison

The current volatility for Amplify Bloomberg U.S. Treasury Target High Income ETF (TLTP) is 1.66%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 4.67%. This indicates that TLTP experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLTP	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	4.67%	-3.01%
Volatility (6M) Calculated over the trailing 6-month period	5.14%	19.36%	-14.22%
Volatility (1Y) Calculated over the trailing 1-year period	7.39%	21.66%	-14.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.76%	17.50%	-7.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.76%	17.50%	-7.74%

TLTP vs. PIT - Expense Ratio Comparison

TLTP has a 0.38% expense ratio, which is lower than PIT's 0.55% expense ratio.

Dividends

TLTP vs. PIT - Dividend Comparison

TLTP's dividend yield for the trailing twelve months is around 13.07%, more than PIT's 7.00% yield.

Position	TTM	2025	2024	2023
PIT VanEck Commodity Strategy ETF	7.00%	8.92%	3.59%	6.44%
TLTP Amplify Bloomberg U.S. Treasury Target High Income ETF	13.07%	12.53%	2.08%	0.00%

Frequently Asked Questions

Can I hold both TLTP and PIT in my portfolio?

TLTP and PIT have a correlation of -0.29, 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 PIT?

PIT has higher volatility (4.67%) compared to TLTP (1.66%). In terms of maximum drawdown, TLTP dropped -8.54% vs PIT's -14.05%.

Which ETF is better, TLTP or PIT?

On 1-year performance, PIT leads with 38.33% vs 5.64% for TLTP. On fees, TLTP is cheaper at 0.38% per year. On volatility, TLTP has been the lower-risk option at 1.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TLTP or PIT?

Over the 1-year period, PIT has performed better with a 38.33% return vs 5.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TLTP or PIT?

TLTP is cheaper with a 0.38% expense ratio, compared with 0.55% for PIT.

Which ETF pays a higher dividend yield, TLTP or PIT?

TLTP has the higher dividend yield at 13.07%, compared with 7.00% for PIT.

What is the main difference between TLTP and PIT?

TLTP is categorized as Government Bonds, while PIT is Commodities. They also come from different issuers: Amplify and VanEck. Their fees differ too: 0.38% for TLTP and 0.55% for PIT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.78 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.