TSYW vs. TLTW
TSYW (Roundhill Treasury Bond WeeklyPay ETF) and TLTW (iShares 20+ Year Treasury Bond BuyWrite Strategy ETF) are both exchange-traded funds - TSYW is a Leveraged Bonds fund actively managed by Roundhill, while TLTW is a Derivative Income fund tracking the CBOE TLT 2% OTM Buywrite Index (USD). TSYW is actively managed, while TLTW is passively managed. With a 0.97 correlation, they move nearly in lockstep. TSYW charges 0.99%/yr vs 0.35%/yr for TLTW.
Performance
TSYW vs. TLTW - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TSYW achieves a -3.24% return, which is significantly lower than TLTW's 0.90% return.
TSYW
- 1D
- -0.09%
- 1M
- -1.54%
- 6M
- -3.84%
- YTD
- -3.24%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLTW
- 1D
- 0.00%
- 1M
- -0.98%
- 6M
- 0.06%
- YTD
- 0.90%
- 1Y
- 7.43%
- 3Y*
- 0.80%
- 5Y*
- —
- 10Y*
- —
TSYW vs. TLTW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TSYW Roundhill Treasury Bond WeeklyPay ETF | -3.24% | -3.37% |
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 0.90% | -1.91% |
Correlation
The correlation between TSYW and TLTW is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 13, 2025 | 0.97 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TSYW vs. TLTW — Risk / Return Rank
TSYW
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TLTW
TSYW vs. TLTW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill Treasury Bond WeeklyPay ETF (TSYW) and iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW). 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.
| TSYW | TLTW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.14 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.04 | — |
| Martin ratioReturn relative to average drawdown | — | 2.92 | — |
Loading charts...
Drawdowns
TSYW vs. TLTW - Drawdown Comparison
The maximum TSYW drawdown since its inception was -9.79%, smaller than the maximum TLTW drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for TSYW and TLTW.
Loading charts...
Drawdown Indicators
| TSYW | TLTW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.79% | -18.61% | +8.82% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.97% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.19% | — |
Current DrawdownCurrent decline from peak | -7.56% | -3.49% | -4.07% |
Average DrawdownAverage peak-to-trough decline | -4.29% | -8.09% | +3.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.13% | — |
Volatility
TSYW vs. TLTW - Volatility Comparison
Loading charts...
Volatility by Period
| TSYW | TLTW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.26% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 5.94% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.90% | 7.68% | +3.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.90% | 11.30% | -0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.90% | 11.30% | -0.40% |
TSYW vs. TLTW - Expense Ratio Comparison
TSYW has a 0.99% expense ratio, which is higher than TLTW's 0.35% expense ratio.
Dividends
TSYW vs. TLTW - Dividend Comparison
TSYW's dividend yield for the trailing twelve months is around 8.92%, less than TLTW's 11.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
TLTW iShares 20+ Year Treasury Bond BuyWrite Strategy ETF | 11.04% | 14.82% | 14.47% | 19.59% | 8.71% |
TSYW Roundhill Treasury Bond WeeklyPay ETF | 8.92% | 1.63% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, TSYW and TLTW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, TLTW is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLTW is cheaper with a 0.35% expense ratio, compared with 0.99% for TSYW.
TLTW has the higher dividend yield at 11.04%, compared with 8.92% for TSYW.
TSYW is categorized as Leveraged Bonds, while TLTW is Derivative Income. They also come from different issuers: Roundhill and iShares. Their fees differ too: 0.99% for TSYW and 0.35% for TLTW.
Find the right allocation for TSYW and TLTW
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer