TLTW vs. AGGH
TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) and AGGH (Simplify Aggregate Bond ETF) are both exchange-traded funds - TLTW is a Options Trading fund tracking the CBOE TLT 2% OTM Buywrite Index (USD), while AGGH is a Intermediate Core Bond fund actively managed by Simplify. TLTW is passively managed, while AGGH is actively managed. Over the past 3 years, TLTW returned 0.85%/yr vs 4.86%/yr for AGGH. A 0.67 correlation means they provide meaningful diversification when combined. TLTW charges 0.35%/yr vs 0.33%/yr for AGGH.
Performance
TLTW vs. AGGH - Performance Comparison
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Returns By Period
In the year-to-date period, TLTW achieves a 1.44% return, which is significantly higher than AGGH's 0.73% return.
TLTW
- 1D
- 0.23%
- 1M
- 0.48%
- YTD
- 1.44%
- 6M
- 0.46%
- 1Y
- 9.58%
- 3Y*
- 0.85%
- 5Y*
- —
- 10Y*
- —
AGGH
- 1D
- 0.25%
- 1M
- 0.35%
- YTD
- 0.73%
- 6M
- 1.07%
- 1Y
- 8.03%
- 3Y*
- 4.86%
- 5Y*
- —
- 10Y*
- —
TLTW vs. AGGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 1.44% | 11.36% | -2.18% | 0.73% | -11.09% |
AGGH Simplify Aggregate Bond ETF | 0.73% | 8.23% | 1.97% | 8.47% | -4.16% |
Correlation
The correlation between TLTW and AGGH is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.67 |
The correlation between TLTW and AGGH has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.
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Return for Risk
TLTW vs. AGGH — Risk / Return Rank
TLTW
AGGH
TLTW vs. AGGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) and Simplify Aggregate Bond ETF (AGGH). 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.
| TLTW | AGGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.22 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 2.60 | -0.99 |
| Martin ratioReturn relative to average drawdown | 4.81 | 7.58 | -2.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TLTW | AGGH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.15 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.02 | 0.28 | -0.30 |
Drawdowns
TLTW vs. AGGH - Drawdown Comparison
The maximum TLTW drawdown since its inception was -18.61%, which is greater than AGGH's maximum drawdown of -13.26%. Use the drawdown chart below to compare losses from any high point for TLTW and AGGH.
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Drawdown Indicators
| TLTW | AGGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.61% | -13.26% | -5.35% |
Max Drawdown (1Y)Largest decline over 1 year | -5.97% | -3.10% | -2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -17.19% | -8.67% | -8.52% |
Current DrawdownCurrent decline from peak | -2.98% | -1.33% | -1.65% |
Average DrawdownAverage peak-to-trough decline | -8.25% | -4.45% | -3.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 1.06% | +0.94% |
Volatility
TLTW vs. AGGH - Volatility Comparison
iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) has a higher volatility of 2.44% compared to Simplify Aggregate Bond ETF (AGGH) at 1.55%. This indicates that TLTW's price experiences larger fluctuations and is considered to be riskier than AGGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLTW | AGGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.44% | 1.55% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 5.79% | 3.33% | +2.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.70% | 7.11% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.39% | 8.45% | +2.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.39% | 8.45% | +2.94% |
TLTW vs. AGGH - Expense Ratio Comparison
TLTW has a 0.35% expense ratio, which is higher than AGGH's 0.33% expense ratio.
Dividends
TLTW vs. AGGH - Dividend Comparison
TLTW's dividend yield for the trailing twelve months is around 11.73%, more than AGGH's 7.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AGGH Simplify Aggregate Bond ETF | 7.51% | 7.54% | 8.97% | 9.51% | 2.11% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 11.73% | 14.82% | 14.47% | 19.59% | 8.71% |
Frequently Asked Questions
TLTW and AGGH have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLTW has higher volatility (2.44%) compared to AGGH (1.55%). In terms of maximum drawdown, TLTW dropped -18.61% vs AGGH's -13.26%.
On 3-year performance, AGGH leads with 4.86% vs 0.85% for TLTW. On fees, AGGH is cheaper at 0.33% per year. On volatility, AGGH has been the lower-risk option at 1.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AGGH has performed better with a 4.86% return vs 0.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGGH is cheaper with a 0.33% expense ratio, compared with 0.35% for TLTW.
TLTW has the higher dividend yield at 11.73%, compared with 7.51% for AGGH.
TLTW is categorized as Options Trading, while AGGH is Intermediate Core Bond. They also come from different issuers: iShares and Simplify. Their fees differ too: 0.35% for TLTW and 0.33% for AGGH.
TLTW currently has the higher Sharpe Ratio (1.26 vs 1.15), 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.
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