UTWY vs. THTA

Last updated Aug 2, 2026

UTWY (F/m US Treasury 20 Year Bond ETF) and THTA (SoFi Enhanced Yield ETF) are both exchange-traded funds - UTWY is a Government Bonds fund tracking the Bloomberg US Treasury Bellwether 20 Year Index, while THTA is a Derivative Income fund actively managed by SoFi. UTWY is passively managed, while THTA is actively managed. Over the past year, UTWY returned -1.66% vs 16.87% for THTA. Their 0.05 correlation means their historical movements had little consistent relationship. UTWY charges 0.15%/yr vs 0.49%/yr for THTA.

Performance

UTWY vs. THTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/m US Treasury 20 Year Bond ETF (UTWY) and SoFi Enhanced Yield ETF (THTA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UTWY achieves a -3.22% return, which is significantly lower than THTA's 9.50% return.

UTWY

• 1D: -0.65%
• 1M: -3.22%
• 6M: -3.26%
• YTD: -3.22%
• 1Y: -1.66%
• 3Y*: -0.41%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -1.63%

THTA

• 1D: 0.44%
• 1M: 1.37%
• 6M: 8.16%
• YTD: 9.50%
• 1Y: 16.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.36%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
THTA SoFi Enhanced Yield ETF	$817.63K	$892.94K	$775.79K
UTWY F/m US Treasury 20 Year Bond ETF	$108.36K	$60.31K	$63.45K

UTWY vs. THTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UTWY F/m US Treasury 20 Year Bond ETF	-3.22%	4.82%	-4.92%	8.28%
THTA SoFi Enhanced Yield ETF	9.50%	-10.24%	7.31%	0.99%

Correlation

The correlation between UTWY and THTA is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.09
Correlation (All Time) Calculated using the full available price history since Nov 15, 2023	0.05

Return for Risk

UTWY vs. THTA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UTWY

UTWY Risk / Return Rank: 10
UTWY Sharpe Ratio Rank: 10
UTWY Sortino Ratio Rank: 9
UTWY Omega Ratio Rank: 9
UTWY Calmar Ratio Rank: 10
UTWY Martin Ratio Rank: 10

THTA

THTA Risk / Return Rank: 96
THTA Sharpe Ratio Rank: 95
THTA Sortino Ratio Rank: 95
THTA Omega Ratio Rank: 97
THTA Calmar Ratio Rank: 96
THTA Martin Ratio Rank: 98

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UTWY vs. THTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/m US Treasury 20 Year Bond ETF (UTWY) and SoFi Enhanced Yield ETF (THTA). 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.

	UTWY	THTA	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	2.75	-2.80
Sortino ratio: Return per unit of downside risk	-0.01	4.14	-4.15
Omega ratio: Gain probability vs. loss probability	1.00	1.69	-0.69
Calmar ratio: Return relative to maximum drawdown	-0.05	6.44	-6.49
Martin ratio: Return relative to average drawdown	-0.12	47.60	-47.72

UTWY vs. THTA - Sharpe Ratio Comparison

The current UTWY Sharpe Ratio is -0.05, which is lower than the THTA Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of UTWY and THTA, 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

UTWY vs. THTA - Drawdown Comparison

The maximum UTWY drawdown since its inception was -18.19%, smaller than the maximum THTA drawdown of -31.41%. Use the drawdown chart below to compare losses from any high point for UTWY and THTA.

Drawdown Indicators

	UTWY	THTA	Difference
Max Drawdown Largest peak-to-trough decline	-18.19%	-31.41%	+13.22%
Max Drawdown (1Y) Largest decline over 1 year	-6.72%	-2.64%	-4.08%
Max Drawdown (3Y) Largest decline over 3 years	-11.88%	—	—
Current Drawdown Current decline from peak	-8.47%	-4.49%	-3.98%
Average Drawdown Average peak-to-trough decline	-6.98%	-7.42%	+0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	0.36%	+2.64%

Volatility

UTWY vs. THTA - Volatility Comparison

The current volatility for F/m US Treasury 20 Year Bond ETF (UTWY) is 2.09%, while SoFi Enhanced Yield ETF (THTA) has a volatility of 2.29%. This indicates that UTWY experiences smaller price fluctuations and is considered to be less risky than THTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTWY	THTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	2.29%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	6.01%	3.85%	+2.16%
Volatility (1Y) Calculated over the trailing 1-year period	7.83%	6.17%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.97%	19.69%	-8.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.97%	19.69%	-8.72%

UTWY vs. THTA - Expense Ratio Comparison

UTWY has a 0.15% expense ratio, which is lower than THTA's 0.49% expense ratio.

Dividends

UTWY vs. THTA - Dividend Comparison

UTWY's dividend yield for the trailing twelve months is around 5.27%, less than THTA's 10.90% yield.

Position	TTM	2025	2024	2023
THTA SoFi Enhanced Yield ETF	10.90%	12.66%	12.44%	0.58%
UTWY F/m US Treasury 20 Year Bond ETF	4.85%	4.62%	4.56%	2.94%

Frequently Asked Questions

Can I hold both UTWY and THTA in my portfolio?

UTWY and THTA have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UTWY or THTA?

THTA has higher volatility (2.29%) compared to UTWY (2.09%). In terms of maximum drawdown, UTWY dropped -18.19% vs THTA's -31.41%.

Which ETF is better, UTWY or THTA?

On 1-year performance, THTA leads with 16.87% vs -1.66% for UTWY. On fees, UTWY is cheaper at 0.15% per year. On volatility, UTWY has been the lower-risk option at 2.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTWY or THTA?

Over the 1-year period, THTA has performed better with a 16.87% return vs -1.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTWY or THTA?

UTWY is cheaper with a 0.15% expense ratio, compared with 0.49% for THTA.

Which ETF pays a higher dividend yield, UTWY or THTA?

THTA has the higher dividend yield at 10.90%, compared with 4.85% for UTWY.

What is the main difference between UTWY and THTA?

UTWY is categorized as Government Bonds, while THTA is Derivative Income. They also come from different issuers: F/m and SoFi. Their fees differ too: 0.15% for UTWY and 0.49% for THTA.

Which has better risk-adjusted returns?

THTA currently has the higher Sharpe Ratio (2.75 vs -0.05), 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.