Which paid more, TLTW or TLTX?

Over the year to Nov 4, 2026, TLTW paid 9.7% of its starting price in cash and TLTX paid 15.0%, so TLTX paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, TLTW or TLTX?

With every distribution reinvested, TLTW returned −0.8% and TLTX −4.3% over the year to Nov 4, 2026.

Which is cheaper, TLTW or TLTX?

TLTW charges 0.35% a year and TLTX charges 0.29%, so TLTX is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

TLTW vs TLTX: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, TLTX paid 15.0% of its price in cash against TLTW’s 9.7%, though TLTW returned more with it reinvested.

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Net assets: $1.6bn on Nov 3, 2026 for iShares TLT Premium Income+ ETF, and $17m on Oct 12, 2026 for Global X Treasury Bond Enhanced Income ETF.

TLTW on its own →TLTX on its own →

At a glance

9.7%

TLTW cash paid, 1 year

15.0%

TLTX cash paid, 1 year

−0.8%

TLTW total return, 1 year

−4.3%

TLTX total return, 1 year

TLTW · 1 year to Nov 4, 2026 4 pts ahead of TLT

TLTW

−0.8%

TLT

−4.8%

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. Total return, distributions reinvested. 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.

TLTX · 1 year to Nov 4, 2026 Not measured

TLTX

−4.3%

none

Not measured

TLTX over 1 year: paid 15.0%, price −19.0%, total −4.3%, not measured against a benchmark. Data to Nov 4, 2026.

TLTX

−4.3%

Total return, distributions reinvested

Not measured

TLTX over 1 year: paid 15.0%, price −19.0%, total −4.3%, not measured against a benchmark. Data to Nov 4, 2026.

TLTX

−4.3%

15.0% of it arrived as cash. Both charts share one scale, with zero at the line. TLTX over 1 year: paid 15.0%, price −19.0%, total −4.3%, not measured against a benchmark. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

TLTX costs 0.06 points a year less; their one-year returns differ by 3.5 points; TLTW is far larger, $1.7bn against $17m.

Points (pts) are percentage points.

TLTW vs TLTX: Dividend Yield & Total Return
Measure	TLTW	TLTX
Paid and earned
Measure	TLTW	TLTX
Total return, 1 year	−0.8%	−4.3%
Price change, 1 year	fell 10.6%	fell 19.0%
Return of capital, issuer estimate	73% of the Oct 7, 2026 payment	71% of the Sep 24, 2026 payment
Against its benchmark
Measure	TLTW	TLTX
Benchmark	20+ Year Treasury, measured through TLT	not published
Against its benchmark, same days	ahead by 4.0 pts
Cost and size
Measure	TLTW	TLTX
Expense ratio	0.35%	0.29%
Net assets, as of Oct 12, 2026	$1.7bn	$17m
Holdings
Measure	TLTW	TLTX
Holdings in common	0%

Method

Risk and return

Jul 25, 2025 to Oct 30, 2026 · 66 weekly returns

TLTW TLTX

Return

Total return edge TLTW +6.1% +1.1%

Annualized edge TLTW +4.8% +0.8%

Price return edge TLTW −7.1% −18.4%

Risk

Volatility edge TLTW (slight) 7.7% 8.1%

Max drawdown edge TLTW −9.2% −10.3%

Risk-adjusted

Sharpe edge TLTW 0.15 −0.33

Sortino edge TLTW 0.20 −0.43

Calmar edge TLTW 0.52 0.08

Reading

From Jul 2025 to Oct 2026, TLTW returned more: +6.1% to +1.1%. TLTW swung slightly less: 7.7% to 8.1%. TLTW fell less at its worst: −9.2% to −10.3%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: TLTW vs TLTX: Dividend Yield & Total Return
Measure	TLTW	TLTX	Edge	How it is measured
Return
Total return	+6.1%	+1.1%	TLTW	Price change plus distributions, reinvested.
Annualized	+4.8%	+0.8%	TLTW	Total return as a yearly rate.
Price return	−7.1%	−18.4%	TLTW	Price change alone, distributions left out.
Risk
Volatility	7.7%	8.1%	TLTW (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	5.5%	6.3%	TLTW	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−9.2%	−10.3%	TLTW	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.15	−0.33	TLTW	Return above Treasury bills per unit of volatility.
Sortino	0.20	−0.43	TLTW	Return above Treasury bills per unit of downside deviation.
Calmar	0.52	0.08	TLTW	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 66 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, TLTW and TLTX hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first TLTW TLTX

Only in one fund ↓

Only in TLTW

TREASURY BOND 4.16%

TREASURY BOND 4.11%

TREASURY BOND (OLD) 4.10%

TREASURY BOND 4.05%

TREASURY BOND 3.92%

TREASURY BOND (2OLD) 3.90%

TREASURY BOND 3.87%

Only in TLTX

Global X Long-Term Treasury Ladder ETF 41.05%

United States of America 9.28%

United States of America 8.42%

United States of America 7.19%

United States of America 6.34%

United States of America 5.90%

United States of America 4.22%

United States of America 3.93%

Check overlap with more funds →

Side by side

TLTW iShares TLT Premium Income+ ETF · Covered call on TLT, paying monthly TLTX Global X Treasury Bond Enhanced Income ETF · Covered call, paying monthly

Issuer iShares Global X

Strategy covered call covered call

Benchmark 20+ Year Treasury (TLT) none

Pays monthly monthly

Payout rate, annualized 14.6% 18.1%

Expense ratio 0.35% 0.29%

Cash paid, 1 year 9.7% 15.0%

Price change, 1 year −10.6% −19.0%

Total return, 1 year −0.8% −4.3%

Benchmark return, 1 year −4.8% not published

Ahead or behind +4.0 pts not available

Return of capital, latest estimate 73% 71%

Age 4.2 years 1.3 years

Net assets, TLTW as of Nov 3, 2026 and TLTX as of Oct 12, 2026 $1.6bn $17m

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

Window by window: TLTW vs TLTX: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	TLTW	TLTX	TLTW	TLTX	TLTW	TLTX
3 months	+1.0%	+0.5%	3.1%	4.2%	+1.3 pts	not measured
6 months	−0.9%	−2.4%	5.3%	7.7%	+1.8 pts	not measured
1 year	−0.8%	−4.3%	9.7%	15.0%	+4.0 pts	not measured
3 years	+14.6%	–	36.2%	–	+8.5 pts	–
Since launchNot the same days: TLTW Aug 2022 · TLTX Jul 2025	−1.7%	+3.2%	42.7%	20.3%	+12.4 pts	not measured

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About each fund

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). That is a tax label, not a measure of erosion.

TLTX

Over the year to Nov 4, 2026, TLTX paid 15.0% of its starting value in cash distributions while its price fell 19.0%. With every distribution reinvested, the fund returned −4.3%. At its price on Nov 4, 2026 the latest distribution annualizes to 18.1%, paid monthly. Global X estimates that 71% of the distribution paid Sep 24, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which paid more, TLTW or TLTX?: Over the year to Nov 4, 2026, TLTW paid 9.7% of its starting price in cash and TLTX paid 15.0%, so TLTX paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, TLTW or TLTX?: With every distribution reinvested, TLTW returned −0.8% and TLTX −4.3% over the year to Nov 4, 2026.
Which is cheaper, TLTW or TLTX?: TLTW charges 0.35% a year and TLTX charges 0.29%, so TLTX is cheaper. Fees come from each fund's prospectus.

Other comparisons

TLTW vs CSHI TLTW vs HYBI TLTW vs BUCK TLTW vs HYBL TLTX vs TLTP TLTX vs TLTI TLTX vs LTTI TLTX vs TSYW

Where to next

20+ Year Treasury (TLT) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →TLTW on its own →TLTX on its own →TLTW dividend history →TLTW holdings →TLTX dividend history →TLTX holdings →Method →Standards and sources →

Sources and dates

TLTW filings on SEC EDGAR ↗

TLTW prospectus with the expense ratio (SEC) ↗

TLTW 19a-1 distribution notice ↗

iShares page for TLTW ↗

TLTX filings on SEC EDGAR ↗

TLTX prospectus with the expense ratio (SEC) ↗

TLTX 19a-1 distribution notice ↗

Global X page for TLTX ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, TLTW against TLTX, data as of Nov 4, 2026. https://etfiq.com/compare/income/tltw-vs-tltx

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.