TLTX vs. BNDD

Last updated Jun 5, 2026

TLTX (Global X Treasury Bond Enhanced Income ETF) and BNDD (Quadratic Deflation ETF) are both Government Bonds funds. Both are actively managed. A 0.52 correlation means they provide meaningful diversification when combined. TLTX charges 0.29%/yr vs 1.02%/yr for BNDD.

Performance

TLTX vs. BNDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Treasury Bond Enhanced Income ETF (TLTX) and Quadratic Deflation ETF (BNDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLTX achieves a 0.25% return, which is significantly lower than BNDD's 4.38% return.

TLTX

• 1D: 0.61%
• 1M: 0.23%
• YTD: 0.25%
• 6M: -0.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDD

• 1D: 0.06%
• 1M: 0.95%
• YTD: 4.38%
• 6M: 2.33%
• 1Y: 2.37%
• 3Y*: -3.83%
• 5Y*: —
• 10Y*: —

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

TLTX vs. BNDD - Yearly Performance Comparison

	2026 (YTD)	2025
TLTX Global X Treasury Bond Enhanced Income ETF	0.25%	5.40%
BNDD Quadratic Deflation ETF	4.38%	1.02%

Correlation

The correlation between TLTX and BNDD is 0.52, 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 Jul 17, 2025	0.52

Return for Risk

TLTX vs. BNDD — Risk / Return Rank

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

BNDD

BNDD Risk / Return Rank: 13
BNDD Sharpe Ratio Rank: 12
BNDD Sortino Ratio Rank: 12
BNDD Omega Ratio Rank: 12
BNDD Calmar Ratio Rank: 14
BNDD Martin Ratio Rank: 13

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.

TLTX vs. BNDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Treasury Bond Enhanced Income ETF (TLTX) and Quadratic Deflation ETF (BNDD). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TLTX	BNDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	-0.33	+1.03

Drawdowns

TLTX vs. BNDD - Drawdown Comparison

The maximum TLTX drawdown since its inception was -6.35%, smaller than the maximum BNDD drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for TLTX and BNDD.

Drawdown Indicators

	TLTX	BNDD	Difference
Max Drawdown Largest peak-to-trough decline	-6.35%	-30.87%	+24.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.75%	—
Current Drawdown Current decline from peak	-3.46%	-26.46%	+23.00%
Average Drawdown Average peak-to-trough decline	-2.27%	-19.34%	+17.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.83%	—

Volatility

Volatility by Period

	TLTX	BNDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.14%	10.59%	-1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.14%	13.37%	-4.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.14%	13.37%	-4.23%

TLTX vs. BNDD - Expense Ratio Comparison

TLTX has a 0.29% expense ratio, which is lower than BNDD's 1.02% expense ratio.

Dividends

TLTX vs. BNDD - Dividend Comparison

TLTX's dividend yield for the trailing twelve months is around 15.70%, more than BNDD's 3.60% yield.

Position	TTM	2025	2024	2023	2022	2021
BNDD Quadratic Deflation ETF	3.60%	3.82%	3.85%	4.30%	43.17%	1.04%
TLTX Global X Treasury Bond Enhanced Income ETF	15.70%	7.54%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TLTX and BNDD in my portfolio?

TLTX and BNDD have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TLTX or BNDD?

On fees, TLTX is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TLTX or BNDD?

TLTX is cheaper with a 0.29% expense ratio, compared with 1.02% for BNDD.

Which ETF pays a higher dividend yield, TLTX or BNDD?

TLTX has the higher dividend yield at 15.70%, compared with 3.60% for BNDD.

What is the main difference between TLTX and BNDD?

They also come from different issuers: Global X and KraneShares. Their fees differ too: 0.29% for TLTX and 1.02% for BNDD.