TLTW vs. TLT
Compare and contrast key facts about iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) and iShares 20+ Year Treasury Bond ETF (TLT).
TLTW and TLT 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. TLT is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 20+ Year Treasury Bond Index. It was launched on Jul 26, 2002. Both TLTW and TLT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TLTW or TLT.
Performance
TLTW vs. TLT - Performance Comparison
Returns By Period
In the year-to-date period, TLTW achieves a -0.42% return, which is significantly higher than TLT's -5.52% return.
TLTW
-0.42%
-0.78%
2.93%
1.91%
N/A
N/A
TLT
-5.52%
-1.49%
0.89%
3.46%
-6.08%
-0.44%
Key characteristics
| TLTW | TLT | |
|---|---|---|
| Sharpe Ratio | 0.18 | 0.23 |
| Sortino Ratio | 0.31 | 0.43 |
| Omega Ratio | 1.04 | 1.05 |
| Calmar Ratio | 0.11 | 0.08 |
| Martin Ratio | 0.52 | 0.55 |
| Ulcer Index | 3.66% | 6.33% |
| Daily Std Dev | 10.38% | 14.73% |
| Max Drawdown | -18.59% | -48.35% |
| Current Drawdown | -11.58% | -41.13% |
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TLTW vs. TLT - Expense Ratio Comparison
TLTW has a 0.35% expense ratio, which is higher than TLT's 0.15% expense ratio.
Correlation
The correlation between TLTW and TLT is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
TLTW vs. TLT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) and iShares 20+ Year Treasury Bond ETF (TLT). 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.
Dividends
TLTW vs. TLT - Dividend Comparison
TLTW's dividend yield for the trailing twelve months is around 15.29%, more than TLT's 4.07% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 15.29% | 19.59% | 8.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.07% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% | 2.67% | 3.26% |
Drawdowns
TLTW vs. TLT - Drawdown Comparison
The maximum TLTW drawdown since its inception was -18.59%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for TLTW and TLT. For additional features, visit the drawdowns tool.
Volatility
TLTW vs. TLT - Volatility Comparison
The current volatility for iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) is 4.04%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 4.59%. This indicates that TLTW experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.