TLTW vs. APRT
Compare and contrast key facts about iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) and AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT).
TLTW and APRT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TLTW is a passively managed fund by iShares that tracks the performance of the CBOE TLT 2% OTM Buywrite Index (USD). It was launched on Jun 18, 2022. APRT is an actively managed fund by Allianz. It was launched on May 28, 2020.
Performance
TLTW vs. APRT - Performance Comparison
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TLTW vs. APRT - 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% |
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF | 2.08% | 7.99% | 15.15% | 22.13% | -2.75% |
Returns By Period
In the year-to-date period, TLTW achieves a 1.44% return, which is significantly lower than APRT's 2.08% return.
TLTW
- 1D
- 0.22%
- 1M
- -2.98%
- YTD
- 1.44%
- 6M
- 2.22%
- 1Y
- 7.46%
- 3Y*
- 0.70%
- 5Y*
- —
- 10Y*
- —
APRT
- 1D
- 2.34%
- 1M
- 0.97%
- YTD
- 2.08%
- 6M
- 4.40%
- 1Y
- 14.62%
- 3Y*
- 12.89%
- 5Y*
- 9.79%
- 10Y*
- —
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TLTW vs. APRT - Expense Ratio Comparison
TLTW has a 0.35% expense ratio, which is lower than APRT's 0.74% expense ratio.
Return for Risk
TLTW vs. APRT — Risk / Return Rank
TLTW
APRT
TLTW vs. APRT - 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 AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT). 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 | APRT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 1.34 | -0.50 |
Sortino ratioReturn per unit of downside risk | 1.17 | 2.04 | -0.87 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.43 | -0.27 |
Calmar ratioReturn relative to maximum drawdown | 1.42 | 1.77 | -0.35 |
Martin ratioReturn relative to average drawdown | 3.74 | 11.67 | -7.94 |
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 | APRT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 1.34 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.91 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.99 | -1.02 |
Correlation
The correlation between TLTW and APRT is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TLTW vs. APRT - Dividend Comparison
TLTW's dividend yield for the trailing twelve months is around 13.66%, while APRT has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 13.66% | 14.82% | 14.47% | 19.59% | 8.71% | 0.00% | 0.00% |
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 4.67% |
Drawdowns
TLTW vs. APRT - Drawdown Comparison
The maximum TLTW drawdown since its inception was -18.61%, which is greater than APRT's maximum drawdown of -14.98%. Use the drawdown chart below to compare losses from any high point for TLTW and APRT.
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Drawdown Indicators
| TLTW | APRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.61% | -14.98% | -3.63% |
Max Drawdown (1Y)Largest decline over 1 year | -5.80% | -8.70% | +2.90% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.98% | — |
Current DrawdownCurrent decline from peak | -2.98% | 0.00% | -2.98% |
Average DrawdownAverage peak-to-trough decline | -8.49% | -2.11% | -6.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 1.32% | +0.88% |
Volatility
TLTW vs. APRT - Volatility Comparison
iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) has a higher volatility of 3.46% compared to AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) at 3.02%. This indicates that TLTW's price experiences larger fluctuations and is considered to be riskier than APRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLTW | APRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.46% | 3.02% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 5.80% | 3.81% | +1.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.91% | 10.98% | -2.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.55% | 10.82% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.55% | 10.40% | +1.15% |