TLTX vs. FPAS
TLTX (Global X Treasury Bond Enhanced Income ETF) and FPAS (FPA Short Duration Government ETF) are both Government Bonds funds. Both are actively managed. At a 0.40 correlation, their price movements are largely independent. TLTX charges 0.29%/yr vs 0.09%/yr for FPAS.
Performance
TLTX vs. FPAS - Performance Comparison
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Returns By Period
In the year-to-date period, TLTX achieves a -0.36% return, which is significantly higher than FPAS's -0.75% return.
TLTX
- 1D
- -0.37%
- 1M
- -0.19%
- YTD
- -0.36%
- 6M
- -1.55%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FPAS
- 1D
- -0.14%
- 1M
- -0.21%
- YTD
- -0.75%
- 6M
- -0.62%
- 1Y
- 3.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLTX vs. FPAS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TLTX Global X Treasury Bond Enhanced Income ETF | -0.36% | 5.40% |
FPAS FPA Short Duration Government ETF | -0.75% | 3.13% |
Correlation
The correlation between TLTX and FPAS is 0.40, 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 Jul 17, 2025 | 0.40 |
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Return for Risk
TLTX vs. FPAS — Risk / Return Rank
TLTX
FPAS
TLTX vs. FPAS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Treasury Bond Enhanced Income ETF (TLTX) and FPA Short Duration Government ETF (FPAS). 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.
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Sharpe Ratios by Period
| TLTX | FPAS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.93 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.98 | -0.35 |
Drawdowns
TLTX vs. FPAS - Drawdown Comparison
The maximum TLTX drawdown since its inception was -6.35%, which is greater than FPAS's maximum drawdown of -2.47%. Use the drawdown chart below to compare losses from any high point for TLTX and FPAS.
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Drawdown Indicators
| TLTX | FPAS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.35% | -2.47% | -3.88% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.47% | — |
Current DrawdownCurrent decline from peak | -4.05% | -1.85% | -2.20% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -0.67% | -1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.82% | — |
Volatility
TLTX vs. FPAS - Volatility Comparison
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Volatility by Period
| TLTX | FPAS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.10% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.24% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.14% | 3.25% | +5.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.14% | 4.09% | +5.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.14% | 4.09% | +5.05% |
TLTX vs. FPAS - Expense Ratio Comparison
TLTX has a 0.29% expense ratio, which is higher than FPAS's 0.09% expense ratio.
Dividends
TLTX vs. FPAS - Dividend Comparison
TLTX's dividend yield for the trailing twelve months is around 15.79%, more than FPAS's 4.78% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FPAS FPA Short Duration Government ETF | 4.78% | 4.75% | 0.68% |
TLTX Global X Treasury Bond Enhanced Income ETF | 15.79% | 7.54% | 0.00% |
Frequently Asked Questions
TLTX and FPAS have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FPAS is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FPAS is cheaper with a 0.09% expense ratio, compared with 0.29% for TLTX.
TLTX has the higher dividend yield at 15.79%, compared with 4.78% for FPAS.
They also come from different issuers: Global X and FPA. Their fees differ too: 0.29% for TLTX and 0.09% for FPAS.
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