TLTP vs. TLTI

Last updated Jun 23, 2026

TLTP (Amplify Bloomberg U.S. Treasury Target High Income ETF) and TLTI (NEOS Enhanced Income 20+ Year Treasury 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 TLTI is a Derivative Income fund actively managed by NEOS Investments. TLTP is passively managed, while TLTI is actively managed. Over the past year, TLTP returned 5.64% vs 5.82% for TLTI. Their correlation of 0.95 suggests significant overlap in exposure. TLTP charges 0.38%/yr vs 0.58%/yr for TLTI.

Performance

TLTP vs. TLTI - 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 NEOS Enhanced Income 20+ Year Treasury Bond ETF (TLTI). 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 TLTI's 1.73% return.

TLTP

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

TLTI

• 1D: -0.64%
• 1M: 2.16%
• YTD: 1.73%
• 6M: 1.60%
• 1Y: 5.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TLTP vs. TLTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TLTP Amplify Bloomberg U.S. Treasury Target High Income ETF	0.90%	5.39%	-5.26%
TLTI NEOS Enhanced Income 20+ Year Treasury Bond ETF	1.73%	4.31%	-5.46%

Correlation

The correlation between TLTP and TLTI is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024	0.95

The correlation between TLTP and TLTI has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

TLTP vs. TLTI — 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

TLTI

TLTI Risk / Return Rank: 18
TLTI Sharpe Ratio Rank: 19
TLTI Sortino Ratio Rank: 18
TLTI Omega Ratio Rank: 16
TLTI Calmar Ratio Rank: 20
TLTI Martin Ratio Rank: 19

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. TLTI - 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 NEOS Enhanced Income 20+ Year Treasury Bond ETF (TLTI). 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	TLTI	Difference
Sharpe ratio: Return per unit of total volatility	0.77	0.63	+0.14
Sortino ratio: Return per unit of downside risk	1.13	0.97	+0.16
Omega ratio: Gain probability vs. loss probability	1.14	1.11	+0.03
Calmar ratio: Return relative to maximum drawdown	0.98	0.88	+0.10
Martin ratio: Return relative to average drawdown	2.56	2.08	+0.48

TLTP vs. TLTI - Sharpe Ratio Comparison

The current TLTP Sharpe Ratio is 0.77, which is comparable to the TLTI Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of TLTP and TLTI, 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. TLTI - Drawdown Comparison

The maximum TLTP drawdown since its inception was -8.54%, roughly equal to the maximum TLTI drawdown of -8.70%. Use the drawdown chart below to compare losses from any high point for TLTP and TLTI.

Drawdown Indicators

	TLTP	TLTI	Difference
Max Drawdown Largest peak-to-trough decline	-8.54%	-8.70%	+0.16%
Max Drawdown (1Y) Largest decline over 1 year	-5.76%	-6.60%	+0.84%
Current Drawdown Current decline from peak	-2.52%	-2.84%	+0.32%
Average Drawdown Average peak-to-trough decline	-3.24%	-3.61%	+0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	2.81%	-0.60%

Volatility

TLTP vs. TLTI - Volatility Comparison

The current volatility for Amplify Bloomberg U.S. Treasury Target High Income ETF (TLTP) is 1.66%, while NEOS Enhanced Income 20+ Year Treasury Bond ETF (TLTI) has a volatility of 2.36%. This indicates that TLTP experiences smaller price fluctuations and is considered to be less risky than TLTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLTP	TLTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	2.36%	-0.70%
Volatility (6M) Calculated over the trailing 6-month period	5.14%	6.58%	-1.44%
Volatility (1Y) Calculated over the trailing 1-year period	7.39%	9.28%	-1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.76%	11.11%	-1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.76%	11.11%	-1.35%

TLTP vs. TLTI - Expense Ratio Comparison

TLTP has a 0.38% expense ratio, which is lower than TLTI's 0.58% expense ratio.

Dividends

TLTP vs. TLTI - Dividend Comparison

TLTP's dividend yield for the trailing twelve months is around 13.07%, more than TLTI's 6.78% yield.

Position	TTM	2025	2024
TLTI NEOS Enhanced Income 20+ Year Treasury Bond ETF	6.78%	6.33%	0.57%
TLTP Amplify Bloomberg U.S. Treasury Target High Income ETF	13.07%	12.53%	2.08%

Frequently Asked Questions

Can I hold both TLTP and TLTI in my portfolio?

With a correlation of 0.94, TLTP and TLTI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TLTP or TLTI?

TLTI has higher volatility (2.36%) compared to TLTP (1.66%). In terms of maximum drawdown, TLTP dropped -8.54% vs TLTI's -8.70%.

Which ETF is better, TLTP or TLTI?

On 1-year performance, TLTI leads with 5.82% 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 TLTI?

Over the 1-year period, TLTI has performed better with a 5.82% 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 TLTI?

TLTP is cheaper with a 0.38% expense ratio, compared with 0.58% for TLTI.

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

TLTP has the higher dividend yield at 13.07%, compared with 6.78% for TLTI.

What is the main difference between TLTP and TLTI?

TLTP is categorized as Government Bonds, while TLTI is Derivative Income. They also come from different issuers: Amplify and NEOS Investments. Their fees differ too: 0.38% for TLTP and 0.58% for TLTI.

Which has better risk-adjusted returns?

TLTP currently has the higher Sharpe Ratio (0.77 vs 0.63), 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.