TLTW vs. FIYY
TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) and FIYY (GraniteShares YieldBOOST 20Y+ Treasuries ETF) are both Derivative Income funds. TLTW is passively managed, while FIYY is actively managed. A 0.60 correlation means they provide meaningful diversification when combined. TLTW charges 0.35%/yr vs 1.07%/yr for FIYY.
Performance
TLTW vs. FIYY - Performance Comparison
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Returns By Period
TLTW
- 1D
- -0.60%
- 1M
- -1.57%
- 6M
- -0.27%
- YTD
- 0.30%
- 1Y
- 6.79%
- 3Y*
- 0.05%
- 5Y*
- —
- 10Y*
- —
FIYY
- 1D
- -0.07%
- 1M
- -0.64%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLTW vs. FIYY - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | -0.15% |
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF | -2.01% |
Correlation
The correlation between TLTW and FIYY is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 5, 2026 | 0.60 |
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Return for Risk
TLTW vs. FIYY — Risk / Return Rank
TLTW
FIYY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TLTW vs. FIYY - 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 GraniteShares YieldBOOST 20Y+ Treasuries ETF (FIYY). 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 | FIYY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.16 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | — | — |
| Martin ratioReturn relative to average drawdown | 3.20 | — | — |
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Drawdowns
TLTW vs. FIYY - Drawdown Comparison
The maximum TLTW drawdown since its inception was -18.61%, which is greater than FIYY's maximum drawdown of -2.51%. Use the drawdown chart below to compare losses from any high point for TLTW and FIYY.
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Drawdown Indicators
| TLTW | FIYY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.61% | -2.51% | -16.10% |
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 | -4.07% | -2.13% | -1.94% |
Average DrawdownAverage peak-to-trough decline | -8.09% | -1.47% | -6.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | — | — |
Volatility
TLTW vs. FIYY - Volatility Comparison
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Volatility by Period
| TLTW | FIYY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.33% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.95% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.62% | 5.08% | +2.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.30% | 5.08% | +6.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.30% | 5.08% | +6.22% |
TLTW vs. FIYY - Expense Ratio Comparison
TLTW has a 0.35% expense ratio, which is lower than FIYY's 1.07% expense ratio.
Dividends
TLTW vs. FIYY - Dividend Comparison
TLTW's dividend yield for the trailing twelve months is around 11.11%, more than FIYY's 1.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 11.11% | 14.82% | 14.47% | 19.59% | 8.71% |
Frequently Asked Questions
TLTW and FIYY have a correlation of 0.60, 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 1.07% for FIYY.
TLTW has the higher dividend yield at 11.11%, compared with 1.13% for FIYY.
They also come from different issuers: iShares and GraniteShares. Their fees differ too: 0.35% for TLTW and 1.07% for FIYY.
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