TLTW vs. ARMW
TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) and ARMW (Roundhill ARM WeeklyPay ETF) are both Derivative Income funds. TLTW is passively managed, while ARMW is actively managed. At a 0.28 correlation, their price movements are largely independent. TLTW charges 0.35%/yr vs 0.99%/yr for ARMW.
Performance
TLTW vs. ARMW - Performance Comparison
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Returns By Period
In the year-to-date period, TLTW achieves a 2.36% return, which is significantly lower than ARMW's 297.09% return.
TLTW
- 1D
- 0.18%
- 1M
- 2.22%
- YTD
- 2.36%
- 6M
- 2.13%
- 1Y
- 9.03%
- 3Y*
- 0.58%
- 5Y*
- —
- 10Y*
- —
ARMW
- 1D
- -13.02%
- 1M
- 22.00%
- YTD
- 297.09%
- 6M
- 286.26%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLTW vs. ARMW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 2.36% | -2.48% |
ARMW Roundhill ARM WeeklyPay ETF | 297.09% | -41.28% |
Correlation
The correlation between TLTW and ARMW is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025 | 0.28 |
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Return for Risk
TLTW vs. ARMW — Risk / Return Rank
TLTW
ARMW
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TLTW vs. ARMW - 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 Roundhill ARM WeeklyPay ETF (ARMW). 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.
| TLTW | ARMW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.21 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | — | — |
| Martin ratioReturn relative to average drawdown | 4.36 | — | — |
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Drawdowns
TLTW vs. ARMW - Drawdown Comparison
The maximum TLTW drawdown since its inception was -18.61%, smaller than the maximum ARMW drawdown of -48.47%. Use the drawdown chart below to compare losses from any high point for TLTW and ARMW.
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Drawdown Indicators
| TLTW | ARMW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.61% | -48.47% | +29.86% |
Max Drawdown (1Y)Largest decline over 1 year | -5.97% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -17.19% | — | — |
Current DrawdownCurrent decline from peak | -2.10% | -20.08% | +17.98% |
Average DrawdownAverage peak-to-trough decline | -8.17% | -25.29% | +17.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | — | — |
Volatility
TLTW vs. ARMW - Volatility Comparison
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Volatility by Period
| TLTW | ARMW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.80% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.62% | 94.74% | -87.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.33% | 94.74% | -83.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.33% | 94.74% | -83.41% |
TLTW vs. ARMW - Expense Ratio Comparison
TLTW has a 0.35% expense ratio, which is lower than ARMW's 0.99% expense ratio.
Dividends
TLTW vs. ARMW - Dividend Comparison
TLTW's dividend yield for the trailing twelve months is around 11.62%, less than ARMW's 25.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ARMW Roundhill ARM WeeklyPay ETF | 25.98% | 16.38% | 0.00% | 0.00% | 0.00% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 11.62% | 14.82% | 14.47% | 19.59% | 8.71% |
Frequently Asked Questions
TLTW and ARMW have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TLTW is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLTW is cheaper with a 0.35% expense ratio, compared with 0.99% for ARMW.
ARMW has the higher dividend yield at 25.98%, compared with 11.62% for TLTW.
They also come from different issuers: iShares and Roundhill Investments. Their fees differ too: 0.35% for TLTW and 0.99% for ARMW.
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