TLTW vs. OCTQ

Last updated Jun 4, 2026

TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) and OCTQ (Innovator Premium Income 40 Barrier ETF - October) are both Options Trading funds. TLTW is passively managed, while OCTQ is actively managed. TLTW charges 0.35%/yr vs 0.79%/yr for OCTQ.

Performance

TLTW vs. OCTQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) and Innovator Premium Income 40 Barrier ETF - October (OCTQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TLTW

• 1D: -0.23%
• 1M: 0.76%
• YTD: 1.21%
• 6M: -0.20%
• 1Y: 10.46%
• 3Y*: 0.74%
• 5Y*: —
• 10Y*: —

OCTQ

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TLTW vs. OCTQ - Yearly Performance Comparison

	2026 (YTD)
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF	0.21%
OCTQ Innovator Premium Income 40 Barrier ETF - October	0.00%

Return for Risk

TLTW vs. OCTQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TLTW

TLTW Risk / Return Rank: 36
TLTW Sharpe Ratio Rank: 37
TLTW Sortino Ratio Rank: 37
TLTW Omega Ratio Rank: 35
TLTW Calmar Ratio Rank: 35
TLTW Martin Ratio Rank: 34

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.

TLTW vs. OCTQ - 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 Innovator Premium Income 40 Barrier ETF - October (OCTQ). 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	OCTQ	Difference
Sharpe ratio: Return per unit of total volatility	1.37	—	—
Sortino ratio: Return per unit of downside risk	1.96	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.76	—	—
Martin ratio: Return relative to average drawdown	5.28	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TLTW	OCTQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	—	—

Drawdowns

TLTW vs. OCTQ - Drawdown Comparison

The maximum TLTW drawdown since its inception was -18.61%, which is greater than OCTQ's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for TLTW and OCTQ.

Drawdown Indicators

	TLTW	OCTQ	Difference
Max Drawdown Largest peak-to-trough decline	-18.61%	0.00%	-18.61%
Max Drawdown (1Y) Largest decline over 1 year	-5.97%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.19%	—	—
Current Drawdown Current decline from peak	-3.20%	0.00%	-3.20%
Average Drawdown Average peak-to-trough decline	-8.25%	0.00%	-8.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	—	—

Volatility

Volatility by Period

	TLTW	OCTQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.48%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.70%	0.00%	+7.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.39%	0.00%	+11.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.39%	0.00%	+11.39%

TLTW vs. OCTQ - Expense Ratio Comparison

TLTW has a 0.35% expense ratio, which is lower than OCTQ's 0.79% expense ratio.

Dividends

TLTW vs. OCTQ - Dividend Comparison

TLTW's dividend yield for the trailing twelve months is around 11.76%, while OCTQ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
OCTQ Innovator Premium Income 40 Barrier ETF - October	0.00%	0.00%	0.00%	0.00%	0.00%
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF	11.76%	14.82%	14.47%	19.59%	8.71%

Frequently Asked Questions

Which ETF is better, TLTW or OCTQ?

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.

Which ETF is cheaper, TLTW or OCTQ?

TLTW is cheaper with a 0.35% expense ratio, compared with 0.79% for OCTQ.

Which ETF pays a higher dividend yield, TLTW or OCTQ?

TLTW has the higher dividend yield at 11.76%, compared with 0.00% for OCTQ.

What is the main difference between TLTW and OCTQ?

They also come from different issuers: iShares and Innovator. Their fees differ too: 0.35% for TLTW and 0.79% for OCTQ.