Data as of Nov 4, 2026.
TLTI vs TLTW: Dividend Yield & Total Return
Over the year to Nov 4, 2026, TLTW paid 9.7% of its price in cash against TLTI’s 5.8%, and returned more with it reinvested.
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Net assets: $21m on Oct 28, 2026 for NEOS Enhanced Income 20+ Year Treasury Bond ETF, and $1.6bn on Nov 3, 2026 for iShares TLT Premium Income+ ETF.
1.7 pts ahead of TLT
TLTI over 1 year: paid 5.8%, price −8.8%, total −3.1%, TLT −4.8%, +1.7 pts. Data to Nov 4, 2026.
TLT
−4.8%
TLTI
−3.1%
1.7 pts ahead of TLT
Total return, distributions reinvested
1.7 pts ahead of TLT
TLTI over 1 year: paid 5.8%, price −8.8%, total −3.1%, TLT −4.8%, +1.7 pts. Data to Nov 4, 2026.
TLT
−4.8%
TLTI
−3.1%
1.7 pts ahead of TLT
5.8% of it arrived as cash. Total return, distributions reinvested. TLTI over 1 year: paid 5.8%, price −8.8%, total −3.1%, TLT −4.8%, +1.7 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.4 pts ahead of TLT
TLTW over 1 year: paid 9.7%, price −10.6%, total −0.8%, TLT −4.8%, +4.0 pts. Data to Nov 4, 2026.
TLT
−4.8%
TLTW
−0.8%
4 pts ahead of TLT
Total return, distributions reinvested
4 pts ahead of TLT
TLTW over 1 year: paid 9.7%, price −10.6%, total −0.8%, TLT −4.8%, +4.0 pts. Data to Nov 4, 2026.
TLT
−4.8%
TLTW
−0.8%
4 pts ahead of TLT
9.7% of it arrived as cash. Both charts share one scale, with zero at the line. TLTW over 1 year: paid 9.7%, price −10.6%, total −0.8%, TLT −4.8%, +4.0 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
TLTW costs 0.23 points a year less; their one-year returns differ by 2.3 points; TLTW is far larger, $1.6bn against $21m.
Points (pts) are percentage points.
| Measure | TLTI | TLTW |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | −3.1% | −0.8% |
| Price change, 1 year | fell 8.8% | fell 10.6% |
| Return of capital, issuer estimate | 19% of the Oct 16, 2026 payment | 73% of the Oct 7, 2026 payment |
| Against its benchmark | ||
| Benchmark | 20+ Year Treasury, measured through TLT | 20+ Year Treasury, measured through TLT |
| Against its benchmark, same days | ahead by 1.7 pts | ahead by 4.0 pts |
| Cost and size | ||
| Expense ratio | 0.58% | 0.35% |
| Net assets, as of Oct 28, 2026 | $21m | $1.6bn |
| Holdings | ||
| Holdings in common | 0% | |
How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed
One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →
Risk and return
Dec 20, 2024 to Oct 30, 2026 · 97 weekly returns · each against TLTFrom Dec 2024 to Oct 2026, TLTW returned more: +10.8% to +2.0%. TLTW swung less: 8.5% to 10.2%. TLTW fell less at its worst: −9.2% to −10.7%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | TLTI | TLTW | TLT | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +2.0% | +10.8% | TLTW | Price change plus distributions, reinvested. | |
| Annualized | +1.1% | +5.6% | TLTW | Total return as a yearly rate. | |
| Price return | −9.4% | −11.0% | TLTI | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 10.2% | 8.5% | TLTW | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 7.8% | 6.4% | TLTW | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −10.7% | −9.2% | TLTW | Deepest fall from a high to the low after it. | |
| Upside capture | 94.8% | 84.2% | 100.0% | TLTI | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 94.6% | 75.5% | 100.0% | TLTW | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.96 | 0.77 | 1.00 | TLTW lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.99 | 0.93 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | −0.24 | 0.22 | TLTW | Return above Treasury bills per unit of volatility. | |
| Sortino | −0.31 | 0.29 | TLTW | Return above Treasury bills per unit of downside deviation. | |
| Treynor | −0.025 | 0.024 | −0.033 | TLTW | Return above Treasury bills per unit of beta. |
| Calmar | 0.10 | 0.61 | TLTW | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | TLT | TLT | TLT | The ETF each fund is measured against. | |
| Alpha | +0.8% a year | +4.4% a year | 0.0% | TLTW significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 1.06 | 2.61 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −0.7% to +2.2% | +1.1% to +7.8% | TLTI's includes zero | The 95% range for the yearly alpha. | |
| Information ratio | 0.84 | 1.55 | TLTW | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.1% | 3.4% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 97 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, TLTI and TLTW hold 0% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.
half
0% in common
Only in one fund ↓
Side by side
As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.
Window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | TLTI | TLTW | TLTI | TLTW | TLTI | TLTW |
| 3 months | −0.1% | +1.0% | 1.5% | 3.1% | +0.2 pts | +1.3 pts |
| 6 months | −2.2% | −0.9% | 2.9% | 5.3% | +0.5 pts | +1.8 pts |
| 1 year | −3.1% | −0.8% | 5.8% | 9.7% | +1.7 pts | +4.0 pts |
| 3 years | – | +14.6% | – | 36.2% | – | +8.5 pts |
| Since launchNot the same days: TLTI Dec 2024 · TLTW Aug 2022 | −1.5% | −1.7% | 11.0% | 42.7% | +1.9 pts | +12.4 pts |
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TLTI
Over the year to Nov 4, 2026, TLTI paid 5.8% of its starting value in cash distributions while its price fell 8.8%. With every distribution reinvested, the fund returned −3.1%. 20+ Year Treasury (TLT) returned −4.8% over the same days, so a holder was ahead by 1.7 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 6.0%, paid monthly. NEOS estimates that 19% of the distribution paid Oct 16, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
TLTW
Over the year to Nov 4, 2026, TLTW paid 9.7% of its starting value in cash distributions while its price fell 10.6%. With every distribution reinvested, the fund returned −0.8%. 20+ Year Treasury (TLT) returned −4.8% over the same days, so a holder was ahead by 4.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 14.6%, paid monthly. iShares estimates that 73% of the distribution paid Oct 7, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
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How this is computed
It is a place in a set, not a rating or a recommendation.
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, TLTI against TLTW, data as of Nov 4, 2026. https://etfiq.com/compare/income/tlti-vs-tltw
ETFIQ. (Nov 4, 2026). TLTI against TLTW. Retrieved from https://etfiq.com/compare/income/tlti-vs-tltw
[TLTI against TLTW (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/tlti-vs-tltw)
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