TLTX vs. VETZ

Last updated Jul 17, 2026

TLTX (Global X Treasury Bond Enhanced Income ETF) and VETZ (Academy Veteran Bond ETF) are both exchange-traded funds - TLTX is a Government Bonds fund actively managed by Global X, while VETZ is a Mortgage Backed Securities fund actively managed by Academy. Both are actively managed. Over the past year, TLTX returned 3.72% vs 5.61% for VETZ. At a 0.45 correlation, their price movements are largely independent. TLTX charges 0.29%/yr vs 0.35%/yr for VETZ.

Performance

TLTX vs. VETZ - Performance Comparison

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

Returns By Period

In the year-to-date period, TLTX achieves a -1.59% return, which is significantly lower than VETZ's 0.55% return.

TLTX

• 1D: -0.20%
• 1M: -3.45%
• 6M: -2.30%
• YTD: -1.59%
• 1Y: 3.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VETZ

• 1D: 0.00%
• 1M: -0.77%
• 6M: 0.00%
• YTD: 0.55%
• 1Y: 5.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TLTX vs. VETZ - Yearly Performance Comparison

	2026 (YTD)	2025
TLTX Global X Treasury Bond Enhanced Income ETF	-1.59%	6.02%
VETZ Academy Veteran Bond ETF	0.55%	4.95%

Correlation

The correlation between TLTX and VETZ is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.45

Return for Risk

TLTX vs. VETZ — Risk / Return Rank

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

TLTX

TLTX Risk / Return Rank: 16
TLTX Sharpe Ratio Rank: 17
TLTX Sortino Ratio Rank: 15
TLTX Omega Ratio Rank: 15
TLTX Calmar Ratio Rank: 18
TLTX Martin Ratio Rank: 17

VETZ

VETZ Risk / Return Rank: 44
VETZ Sharpe Ratio Rank: 40
VETZ Sortino Ratio Rank: 41
VETZ Omega Ratio Rank: 39
VETZ Calmar Ratio Rank: 50
VETZ Martin Ratio Rank: 50

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. VETZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Treasury Bond Enhanced Income ETF (TLTX) and Academy Veteran Bond ETF (VETZ). 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	VETZ	Difference
Sharpe ratio: Return per unit of total volatility	0.40	1.19	-0.79
Sortino ratio: Return per unit of downside risk	0.64	1.76	-1.12
Omega ratio: Gain probability vs. loss probability	1.08	1.21	-0.13
Calmar ratio: Return relative to maximum drawdown	0.59	2.06	-1.47
Martin ratio: Return relative to average drawdown	1.32	6.60	-5.29

TLTX vs. VETZ - Sharpe Ratio Comparison

The current TLTX Sharpe Ratio is 0.40, which is lower than the VETZ Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of TLTX and VETZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TLTX vs. VETZ - Drawdown Comparison

The maximum TLTX drawdown since its inception was -6.35%, which is greater than VETZ's maximum drawdown of -5.16%. Use the drawdown chart below to compare losses from any high point for TLTX and VETZ.

Drawdown Indicators

	TLTX	VETZ	Difference
Max Drawdown Largest peak-to-trough decline	-6.35%	-5.16%	-1.19%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-2.73%	-3.62%
Current Drawdown Current decline from peak	-5.23%	-1.45%	-3.78%
Average Drawdown Average peak-to-trough decline	-2.38%	-1.29%	-1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	0.85%	+1.98%

Volatility

TLTX vs. VETZ - Volatility Comparison

Global X Treasury Bond Enhanced Income ETF (TLTX) has a higher volatility of 2.87% compared to Academy Veteran Bond ETF (VETZ) at 1.42%. This indicates that TLTX's price experiences larger fluctuations and is considered to be riskier than VETZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLTX	VETZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	1.42%	+1.45%
Volatility (6M) Calculated over the trailing 6-month period	6.92%	3.27%	+3.65%
Volatility (1Y) Calculated over the trailing 1-year period	9.24%	4.73%	+4.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.24%	6.10%	+3.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.24%	6.10%	+3.14%

TLTX vs. VETZ - Expense Ratio Comparison

TLTX has a 0.29% expense ratio, which is lower than VETZ's 0.35% expense ratio.

Dividends

TLTX vs. VETZ - Dividend Comparison

TLTX's dividend yield for the trailing twelve months is around 17.73%, more than VETZ's 6.09% yield.

Position	TTM	2025	2024	2023
TLTX Global X Treasury Bond Enhanced Income ETF	17.73%	7.54%	0.00%	0.00%
VETZ Academy Veteran Bond ETF	6.09%	6.14%	5.89%	1.88%

Frequently Asked Questions

Can I hold both TLTX and VETZ in my portfolio?

TLTX and VETZ have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLTX or VETZ?

TLTX has higher volatility (2.87%) compared to VETZ (1.42%). In terms of maximum drawdown, TLTX dropped -6.35% vs VETZ's -5.16%.

Which ETF is better, TLTX or VETZ?

On 1-year performance, VETZ leads with 5.61% vs 3.72% for TLTX. On fees, TLTX is cheaper at 0.29% per year. On volatility, VETZ has been the lower-risk option at 1.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TLTX or VETZ?

Over the 1-year period, VETZ has performed better with a 5.61% return vs 3.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TLTX or VETZ?

TLTX is cheaper with a 0.29% expense ratio, compared with 0.35% for VETZ.

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

TLTX has the higher dividend yield at 17.73%, compared with 6.09% for VETZ.

What is the main difference between TLTX and VETZ?

TLTX is categorized as Government Bonds, while VETZ is Mortgage Backed Securities. They also come from different issuers: Global X and Academy. Their fees differ too: 0.29% for TLTX and 0.35% for VETZ.

Which has better risk-adjusted returns?

VETZ currently has the higher Sharpe Ratio (1.19 vs 0.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.