WINC.L vs. TLTI.L
WINC.L (iShares World Equity High Income Active UCITS ETF USD (Dist)) and TLTI.L (IncomeShares 20+ Year Treasury (TLT) Options ETP) are both exchange-traded funds - WINC.L is a Dividend fund actively managed by iShares, while TLTI.L is a Derivative Income fund actively managed by Leverage Shares. Both are actively managed. Over the past year, WINC.L returned 23.91% vs 2.02% for TLTI.L. At a 0.33 correlation, their price movements are largely independent. WINC.L charges 0.35%/yr vs 0.55%/yr for TLTI.L.
Performance
WINC.L vs. TLTI.L - Performance Comparison
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Different Trading Currencies
WINC.L is traded in GBP, while TLTI.L is traded in USD. To make them comparable, the TLTI.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, WINC.L achieves a 11.54% return, which is significantly higher than TLTI.L's -1.11% return.
WINC.L
- 1D
- 1.11%
- 1M
- 0.88%
- 6M
- 9.26%
- YTD
- 11.54%
- 1Y
- 23.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLTI.L
- 1D
- 0.00%
- 1M
- -2.74%
- 6M
- -2.98%
- YTD
- -1.11%
- 1Y
- 2.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WINC.L vs. TLTI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
WINC.L iShares World Equity High Income Active UCITS ETF USD (Dist) | 11.54% | 11.65% |
TLTI.L IncomeShares 20+ Year Treasury (TLT) Options ETP | -1.11% | 10,098.26% |
Correlation
The correlation between WINC.L and TLTI.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2025 | 0.33 |
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Return for Risk
WINC.L vs. TLTI.L — Risk / Return Rank
WINC.L
TLTI.L
WINC.L vs. TLTI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares World Equity High Income Active UCITS ETF USD (Dist) (WINC.L) and IncomeShares 20+ Year Treasury (TLT) Options ETP (TLTI.L). 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.
| WINC.L | TLTI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.31 | ||
| Sortino ratioReturn per unit of downside risk | +2.86 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.11 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 4.44 | 0.06 | +4.38 |
| Martin ratioReturn relative to average drawdown | 16.49 | 0.09 | +16.40 |
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Drawdowns
WINC.L vs. TLTI.L - Drawdown Comparison
The maximum WINC.L drawdown since its inception was -16.51%, smaller than the maximum TLTI.L drawdown of -32.56%. Use the drawdown chart below to compare losses from any high point for WINC.L and TLTI.L.
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Drawdown Indicators
| WINC.L | TLTI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.51% | -32.56% | +16.05% |
Max Drawdown (1Y)Largest decline over 1 year | -5.36% | -32.56% | +27.20% |
Current DrawdownCurrent decline from peak | -0.03% | -29.82% | +29.79% |
Average DrawdownAverage peak-to-trough decline | -2.06% | -20.08% | +18.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 23.70% | -22.25% |
Volatility
WINC.L vs. TLTI.L - Volatility Comparison
The current volatility for iShares World Equity High Income Active UCITS ETF USD (Dist) (WINC.L) is 3.21%, while IncomeShares 20+ Year Treasury (TLT) Options ETP (TLTI.L) has a volatility of 4.35%. This indicates that WINC.L experiences smaller price fluctuations and is considered to be less risky than TLTI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WINC.L | TLTI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 4.35% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 7.23% | 9.60% | -2.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.15% | 43.28% | -33.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.58% | 9,796.67% | -9,785.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.58% | 9,796.67% | -9,785.09% |
WINC.L vs. TLTI.L - Expense Ratio Comparison
WINC.L has a 0.35% expense ratio, which is lower than TLTI.L's 0.55% expense ratio.
Dividends
WINC.L vs. TLTI.L - Dividend Comparison
WINC.L's dividend yield for the trailing twelve months is around 12.74%, more than TLTI.L's 10.34% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
TLTI.L IncomeShares 20+ Year Treasury (TLT) Options ETP | 10.34% | 2.73% | 0.00% |
WINC.L iShares World Equity High Income Active UCITS ETF USD (Dist) | 12.74% | 9.75% | 4.72% |
Frequently Asked Questions
WINC.L and TLTI.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WINC.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WINC.L is cheaper with a 0.35% expense ratio, compared with 0.55% for TLTI.L.
WINC.L is categorized as Dividend, while TLTI.L is Derivative Income. They also come from different issuers: iShares and Leverage Shares. Their fees differ too: 0.35% for WINC.L and 0.55% for TLTI.L.
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