TLTX vs. GOVZ
TLTX (Global X Treasury Bond Enhanced Income ETF) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both Government Bonds funds. TLTX is actively managed, while GOVZ is passively managed. A 0.64 correlation means they provide meaningful diversification when combined. TLTX charges 0.29%/yr vs 0.15%/yr for GOVZ.
Performance
TLTX vs. GOVZ - Performance Comparison
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Returns By Period
In the year-to-date period, TLTX achieves a 1.95% return, which is significantly lower than GOVZ's 3.57% return.
TLTX
- 1D
- 0.82%
- 1M
- 2.89%
- YTD
- 1.95%
- 6M
- 1.21%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GOVZ
- 1D
- 2.29%
- 1M
- 6.77%
- YTD
- 3.57%
- 6M
- 1.48%
- 1Y
- 4.27%
- 3Y*
- -6.85%
- 5Y*
- -11.18%
- 10Y*
- —
TLTX vs. GOVZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TLTX Global X Treasury Bond Enhanced Income ETF | 1.95% | 6.02% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 3.57% | 4.94% |
Correlation
The correlation between TLTX and GOVZ is 0.64, 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 16, 2025 | 0.64 |
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Return for Risk
TLTX vs. GOVZ — Risk / Return Rank
TLTX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GOVZ
TLTX vs. GOVZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Treasury Bond Enhanced Income ETF (TLTX) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). 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.
| TLTX | GOVZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.06 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.30 | — |
| Martin ratioReturn relative to average drawdown | — | 0.66 | — |
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Drawdowns
TLTX vs. GOVZ - Drawdown Comparison
The maximum TLTX drawdown since its inception was -6.35%, smaller than the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for TLTX and GOVZ.
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Drawdown Indicators
| TLTX | GOVZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.35% | -59.65% | +53.30% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.16% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -28.72% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -57.63% | — |
Current DrawdownCurrent decline from peak | -1.82% | -54.49% | +52.67% |
Average DrawdownAverage peak-to-trough decline | -2.29% | -40.04% | +37.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.51% | — |
Volatility
TLTX vs. GOVZ - Volatility Comparison
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Volatility by Period
| TLTX | GOVZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.06% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.91% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.28% | 15.89% | -6.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.28% | 23.88% | -14.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.28% | 23.29% | -14.01% |
TLTX vs. GOVZ - Expense Ratio Comparison
TLTX has a 0.29% expense ratio, which is higher than GOVZ's 0.15% expense ratio.
Dividends
TLTX vs. GOVZ - Dividend Comparison
TLTX's dividend yield for the trailing twelve months is around 17.11%, more than GOVZ's 4.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 4.95% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% |
TLTX Global X Treasury Bond Enhanced Income ETF | 17.11% | 7.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TLTX and GOVZ have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GOVZ is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GOVZ is cheaper with a 0.15% expense ratio, compared with 0.29% for TLTX.
TLTX has the higher dividend yield at 17.11%, compared with 4.95% for GOVZ.
They also come from different issuers: Global X and iShares. Their fees differ too: 0.29% for TLTX and 0.15% for GOVZ.
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