UTWY vs. TLT
Compare and contrast key facts about F/m US Treasury 20 Year Bond ETF (UTWY) and iShares 20+ Year Treasury Bond ETF (TLT).
UTWY and TLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UTWY is a passively managed fund by F/m Investments that tracks the performance of the Bloomberg US Treasury Bellwether 20 Year Index. It was launched on Mar 27, 2023. TLT is a passively managed fund by iShares that tracks the performance of the ICE U.S. Treasury 20+ Year Bond Index. It was launched on Jul 22, 2002. Both UTWY and TLT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
UTWY vs. TLT - Performance Comparison
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UTWY vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UTWY F/m US Treasury 20 Year Bond ETF | -0.15% | 4.82% | -4.92% | -1.81% |
TLT iShares 20+ Year Treasury Bond ETF | 0.17% | 4.25% | -8.05% | -2.61% |
Returns By Period
In the year-to-date period, UTWY achieves a -0.15% return, which is significantly lower than TLT's 0.17% return.
UTWY
- 1D
- 0.26%
- 1M
- -3.75%
- YTD
- -0.15%
- 6M
- -0.31%
- 1Y
- 0.62%
- 3Y*
- -1.22%
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- -0.10%
- 1M
- -4.23%
- YTD
- 0.17%
- 6M
- -0.87%
- 1Y
- -0.49%
- 3Y*
- -2.78%
- 5Y*
- -5.85%
- 10Y*
- -1.38%
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UTWY vs. TLT - Expense Ratio Comparison
Both UTWY and TLT have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
UTWY vs. TLT — Risk / Return Rank
UTWY
TLT
UTWY vs. TLT - 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 iShares 20+ Year Treasury Bond ETF (TLT). 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.
| UTWY | TLT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.07 | -0.04 | +0.11 |
Sortino ratioReturn per unit of downside risk | 0.15 | 0.02 | +0.14 |
Omega ratioGain probability vs. loss probability | 1.02 | 1.00 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.17 | 0.05 | +0.11 |
Martin ratioReturn relative to average drawdown | 0.37 | 0.11 | +0.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UTWY | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.07 | -0.04 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.37 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.07 | 0.26 | -0.33 |
Correlation
The correlation between UTWY and TLT is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
UTWY vs. TLT - Dividend Comparison
UTWY's dividend yield for the trailing twelve months is around 5.07%, more than TLT's 4.49% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UTWY F/m US Treasury 20 Year Bond ETF | 5.07% | 4.62% | 4.56% | 2.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.49% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Drawdowns
UTWY vs. TLT - Drawdown Comparison
The maximum UTWY drawdown since its inception was -18.19%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for UTWY and TLT.
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Drawdown Indicators
| UTWY | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.19% | -48.35% | +30.16% |
Max Drawdown (1Y)Largest decline over 1 year | -7.47% | -9.23% | +1.76% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -5.56% | -40.17% | +34.61% |
Average DrawdownAverage peak-to-trough decline | -7.09% | -13.62% | +6.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 4.38% | -0.98% |
Volatility
UTWY vs. TLT - Volatility Comparison
The current volatility for F/m US Treasury 20 Year Bond ETF (UTWY) is 3.39%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 3.71%. This indicates that UTWY experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTWY | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.39% | 3.71% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 5.55% | 6.61% | -1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.32% | 11.44% | -2.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.29% | 15.90% | -4.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.29% | 14.93% | -3.64% |