TLTW vs SPY
Comparison between ISHARES 20+ YEAR TREASURY BOND BUYWRITE STRATEGY ETF (TLTW, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
TLTW vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
TLTW
$2B
Winner
SPY
$784B
Expense Ratio
TLTW
0.35%
Winner
SPY
0.09%
Max Drawdown
Winner
TLTW
45.81%
SPY
56.47%
Sharpe Ratio
TLTW
0.73
Winner
SPY
1.54
5Y Beta
Winner
TLTW
0.09
SPY
1.00
P/E Ratio
TLTW
N/A
SPY
27.62
Forward P/E
TLTW
N/A
SPY
21.11
5Y Dividends CAGR
TLTW
N/A
SPY
6.00%
5Y EPS CAGR
TLTW
N/A
SPY
25.30%
Debt to Equity
TLTW
N/A
SPY
31.11%
P/S Ratio
TLTW
N/A
SPY
3.49
P/B Ratio
TLTW
N/A
SPY
5.30
TLTW vs SPY - Holdings Comparison
TLTW and SPY have 0 common holdings. Overlap is 0.00%
TLTW's top 25 holdings weight is 99.94%. SPY's top 25 holdings weight is 51.24%.
| Rank | TLTW | SPY |
|---|---|---|
| #1 | ISHARES 20& YEAR TREASURY BOND ETF (TLT) - 99.94% | NVIDIA CORP (NVDA) - 7.81% |
| #2 | N/A | APPLE INC (AAPL) - 6.81% |
| #3 | N/A | MICROSOFT CORP (MSFT) - 4.53% |
| #4 | N/A | AMAZON.COM INC (AMZN) - 3.72% |
| #5 | N/A | ALPHABET INC CLASS A (GOOGL) - 3.39% |
| #6 | N/A | BROADCOM INC (AVGO) - 2.77% |
| #7 | N/A | ALPHABET INC CLASS C (GOOG) - 2.72% |
| #8 | N/A | META PLATFORMS INC CLASS A (META) - 2.03% |
| #9 | N/A | MICRON TECHNOLOGY INC (MU) - 1.78% |
| #10 | N/A | TESLA INC (TSLA) - 1.76% |
| #11 | N/A | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.41% |
| #12 | N/A | JPMORGAN CHASE & CO (JPM) - 1.38% |
| #13 | N/A | ELI LILLY AND CO (LLY) - 1.38% |
| #14 | N/A | ADVANCED MICRO DEVICES INC (AMD) - 1.28% |
| #15 | N/A | EXXON MOBIL CORP (XOM) - 0.92% |
| #16 | N/A | JOHNSON & JOHNSON (JNJ) - 0.88% |
| #17 | N/A | VISA INC CLASS A (V) - 0.87% |
| #18 | N/A | INTEL CORP (INTC) - 0.85% |
| #19 | N/A | WALMART INC (WMT) - 0.82% |
| #20 | N/A | CISCO SYSTEMS INC (CSCO) - 0.73% |
| #21 | N/A | LAM RESEARCH CORP (LRCX) - 0.71% |
| #22 | N/A | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #23 | N/A | CATERPILLAR INC (CAT) - 0.68% |
| #24 | N/A | COSTCO WHOLESALE CORP (COST) - 0.68% |
| #25 | N/A | MASTERCARD INC CLASS A (MA) - 0.63% |
| Total Holdings | 1 | 505 |
TLTW vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
TLTW
+3.23%
SPY
-1.41%
3M
TLTW
+2.91%
Winner
SPY
+12.54%
6M
TLTW
+2.60%
Winner
SPY
+6.77%
1Y
TLTW
+9.52%
Winner
SPY
+22.18%
5Y(CAGR)
TLTW
N/A
SPY
+13.04%
10Y(CAGR)
TLTW
N/A
SPY
+15.54%
Max(CAGR)
TLTW
+0.22%
Winner
SPY
+8.44%
TLTW vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | TLTW | SPY |
|---|---|---|
| 2026 | +3.46% | +7.90% |
| 2025 | +11.03% | +18.00% |
| 2024 | -1.97% | +25.59% |
| 2023 | -0.97% | +26.72% |
| 2022 | -11.09% | -18.64% |
| 2021 | N/A | +30.52% |
| 2020 | N/A | +17.28% |
| 2019 | N/A | +31.09% |
| 2018 | N/A | -5.24% |
| 2017 | N/A | +20.78% |
| 2016 | N/A | +13.59% |
| 2015 | N/A | +1.31% |
| 2014 | N/A | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
TLTW vs SPY Drawdown Comparison
The maximum drawdown for TLTW was -18.58%, occurring on Oct 19, 2023. Recovery took 870 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current TLTW drawdown is -1.13%. The current SPY drawdown is -3.22%.
| Rank | TLTW | SPY |
|---|---|---|
| #1 | -18.58% Aug 26, 2022 - Feb 17, 2026 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -5.97% Feb 27, 2026 - May 19, 2026 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -0.98% Aug 22, 2022 - Aug 25, 2022 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -0.21% Feb 19, 2026 - Feb 23, 2026 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -0.13% Feb 17, 2026 - Feb 19, 2026 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | N/A | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | N/A | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | N/A | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | N/A | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | N/A | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | N/A | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | N/A | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | N/A | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | N/A | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | N/A | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between TLTW and SPY is 0.39 which considered as a weak positive correlation - the stocks show a slight tendency to move together.
0.39
-101
Dividend Comparison (1999 - 2026)
TLTW vs SPY dividend yield comparison.
| Year | TLTW | SPY |
|---|---|---|
| 2026 | 4.13% | 0.50% |
| 2025 | 14.82% | 1.07% |
| 2024 | 14.47% | 1.21% |
| 2023 | 19.59% | 1.40% |
| 2022 | 8.71% | 1.65% |
| 2021 | 0.00% | 1.20% |
| 2020 | 0.00% | 1.52% |
| 2019 | 0.00% | 1.75% |
| 2018 | 0.00% | 2.04% |
| 2017 | 0.00% | 1.80% |
| 2016 | 0.00% | 2.03% |
| 2015 | 0.00% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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