TLTX vs. PEPS

Last updated Jun 5, 2026

TLTX (Global X Treasury Bond Enhanced Income ETF) and PEPS (Parametric Equity Plus ETF) are both exchange-traded funds - TLTX is a Government Bonds fund actively managed by Global X, while PEPS is a Derivative Income fund actively managed by Parametric. Both are actively managed. At a 0.24 correlation, their price movements are largely independent. TLTX charges 0.29%/yr vs 0.10%/yr for PEPS.

Performance

TLTX vs. PEPS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Treasury Bond Enhanced Income ETF (TLTX) and Parametric Equity Plus ETF (PEPS). 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 PEPS's 11.10% return.

TLTX

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

PEPS

• 1D: 0.39%
• 1M: 5.83%
• YTD: 11.10%
• 6M: 11.19%
• 1Y: 32.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TLTX vs. PEPS - Yearly Performance Comparison

	2026 (YTD)	2025
TLTX Global X Treasury Bond Enhanced Income ETF	0.25%	5.40%
PEPS Parametric Equity Plus ETF	11.10%	12.95%

Correlation

The correlation between TLTX and PEPS is 0.24, 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	0.24

Return for Risk

TLTX vs. PEPS — Risk / Return Rank

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

PEPS

PEPS Risk / Return Rank: 75
PEPS Sharpe Ratio Rank: 78
PEPS Sortino Ratio Rank: 73
PEPS Omega Ratio Rank: 77
PEPS Calmar Ratio Rank: 67
PEPS Martin Ratio Rank: 80

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. PEPS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Treasury Bond Enhanced Income ETF (TLTX) and Parametric Equity Plus ETF (PEPS). 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	PEPS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	1.06	-0.36

Drawdowns

TLTX vs. PEPS - Drawdown Comparison

The maximum TLTX drawdown since its inception was -6.35%, smaller than the maximum PEPS drawdown of -21.26%. Use the drawdown chart below to compare losses from any high point for TLTX and PEPS.

Drawdown Indicators

	TLTX	PEPS	Difference
Max Drawdown Largest peak-to-trough decline	-6.35%	-21.26%	+14.91%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.80%	—
Current Drawdown Current decline from peak	-3.46%	-0.13%	-3.33%
Average Drawdown Average peak-to-trough decline	-2.27%	-2.76%	+0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.09%	—

Volatility

Volatility by Period

	TLTX	PEPS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.14%	13.05%	-3.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.14%	18.28%	-9.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.14%	18.28%	-9.14%

TLTX vs. PEPS - Expense Ratio Comparison

TLTX has a 0.29% expense ratio, which is higher than PEPS's 0.10% expense ratio.

Dividends

TLTX vs. PEPS - Dividend Comparison

TLTX's dividend yield for the trailing twelve months is around 15.70%, more than PEPS's 0.88% yield.

Position	TTM	2025	2024
PEPS Parametric Equity Plus ETF	0.88%	1.00%	0.17%
TLTX Global X Treasury Bond Enhanced Income ETF	15.70%	7.54%	0.00%

Frequently Asked Questions

Can I hold both TLTX and PEPS in my portfolio?

TLTX and PEPS have a correlation of 0.24, 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 PEPS?

On fees, PEPS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TLTX or PEPS?

PEPS is cheaper with a 0.10% expense ratio, compared with 0.29% for TLTX.

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

TLTX has the higher dividend yield at 15.70%, compared with 0.88% for PEPS.

What is the main difference between TLTX and PEPS?

TLTX is categorized as Government Bonds, while PEPS is Derivative Income. They also come from different issuers: Global X and Parametric. Their fees differ too: 0.29% for TLTX and 0.10% for PEPS.