{
 "ticker": "TLTW",
 "name": "iShares 20+ Year Treasury Bond BuyWrite Strategy ETF",
 "issuer": "iShares",
 "desk": "income",
 "url": "https://etfiq.com/funds/TLTW",
 "html": "https://etfiq.com/funds/TLTW",
 "markdown": "https://etfiq.com/funds/TLTW.md",
 "as_of": "2026-09-11",
 "verdict": "Over the year to Sep 11, 2026, TLTW paid 9.6% in cash and finished 5.4 points ahead of TLT.",
 "key_facts": [
  {
   "key": "cash_paid_1_year_on_its_starting_price",
   "label": "Cash paid, 1 year, on its starting price",
   "value": "9.6%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TLTW, cash paid, 1 year, on its starting price: 9.6%, as of Sep 11, 2026."
  },
  {
   "key": "total_return_1_year",
   "label": "Total return, 1 year",
   "value": "\u22121.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TLTW, total return, 1 year: \u22121.0%, as of Sep 11, 2026."
  },
  {
   "key": "against_tlt",
   "label": "Against TLT",
   "value": "+5.4 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TLTW, against TLT: +5.4 pts, as of Sep 11, 2026."
  },
  {
   "key": "latest_payout_annualized",
   "label": "Latest payout, annualized",
   "value": "7.5%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TLTW, latest payout, annualized: 7.5%, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$2.0bn",
   "source": "source, as filed for Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "TLTW, net assets: $2.0bn (source, as filed for Apr 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "not read by ETFIQ",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TLTW, expense ratio: not read by ETFIQ, as of Sep 11, 2026."
  }
 ],
 "fields": [
  {
   "key": "strategy",
   "label": "Strategy",
   "value": "covered call",
   "source": null
  },
  {
   "key": "benchmark",
   "label": "Benchmark",
   "value": "20+ Year Treasury (TLT)",
   "source": null
  },
  {
   "key": "pays",
   "label": "Pays",
   "value": "monthly",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$2.0bn",
   "source": "source, as filed for Apr 30, 2026"
  },
  {
   "key": "latest_payout_annualized",
   "label": "Latest payout, annualized",
   "value": "7.5%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "not read by ETFIQ",
   "source": null
  },
  {
   "key": "cash_paid_last_12_months_over_today_s_price",
   "label": "Cash paid, last 12 months, over today\u2019s price",
   "value": "10.8%",
   "source": "ETFIQ"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Aug 22, 2022",
   "source": null
  },
  {
   "key": "pays",
   "label": "Pays",
   "value": "monthly",
   "source": null
  },
  {
   "key": "typical_gap_between_ex_dates",
   "label": "Typical gap between ex-dates",
   "value": "30 days",
   "source": null
  },
  {
   "key": "typical_wait_from_ex_date_to_payment",
   "label": "Typical wait from ex-date to payment",
   "value": "2 days",
   "source": null
  },
  {
   "key": "last_paid_per_share",
   "label": "Last paid, per share",
   "value": "$0.1311 ex Sep 2, 2026",
   "source": null
  },
  {
   "key": "sum_of_the_last_12_distributions",
   "label": "Sum of the last 12 distributions",
   "value": "$2.2436",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Cash paid": "1.9%",
   "Price": "\u22125.9%",
   "Total return": "\u22124.0%",
   "TLT": "\u22124.6%",
   "Ahead or behind": "+0.6 pts"
  },
  {
   "window": "6 months",
   "Cash paid": "4.3%",
   "Price": "\u22127.2%",
   "Total return": "\u22123.1%",
   "TLT": "\u22124.4%",
   "Ahead or behind": "+1.3 pts"
  },
  {
   "window": "1 year",
   "Cash paid": "9.6%",
   "Price": "\u221210.3%",
   "Total return": "\u22121.0%",
   "TLT": "\u22126.4%",
   "Ahead or behind": "+5.4 pts"
  },
  {
   "window": "3 years",
   "Cash paid": "33.2%",
   "Price": "\u221231.5%",
   "Total return": "+3.3%",
   "TLT": "\u22122.6%",
   "Ahead or behind": "+5.8 pts"
  },
  {
   "window": "Since launch",
   "Cash paid": "41.3%",
   "Price": "\u221247.2%",
   "Total return": "\u22124.6%",
   "TLT": "\u221215.8%",
   "Ahead or behind": "+11.2 pts"
  }
 ],
 "questions": [
  {
   "q": "How much has TLTW paid over the last year?",
   "a": "Over the year to Sep 11, 2026, TLTW paid 9.6% of its starting price in cash distributions, while the price fell 10.3%."
  },
  {
   "q": "Is TLTW ahead of TLT?",
   "a": "Over the year to Sep 11, 2026, with every distribution reinvested, TLTW returned \u22121.0% against \u22126.4% for 20+ Year Treasury (TLT), so a holder was ahead of it by 5.4 points."
  },
  {
   "q": "How often does TLTW pay, and how much?",
   "a": "TLTW pays monthly. The latest distribution annualizes to 7.5% at its price on Sep 11, 2026, which is not a promise; the next one can differ."
  },
  {
   "q": "When does TLTW next pay a distribution?",
   "a": "TLTW pays monthly. The last distribution went ex on Sep 2, 2026 at $0.1311 a share. The next is not declared; on a cadence of about 30 days the ex-date falls near Oct 2, 2026, which is an ETFIQ projection. Payment usually follows the ex-date by 2 days."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}