TLTWvsIBTMETF Comparison

ETF 1

TLTW

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF

This fund is part of

Options Strategies

-0.49%

Full TLTW fund page

ETF 2

IBTM

iShares iBonds Dec 2032 Term Treasury ETF

This fund is part of

US Government Bonds

-0.6%

Full IBTM fund page

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) belongs to the Options Strategies segment. iShares iBonds Dec 2032 Term Treasury ETF (IBTM) is part of the US Government Bonds segment. Both ETFs have the same top 2 sector exposures: Sovereign and Non-Corporate. TLTW is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.07% for IBTM. TLTW is down -2.22% year-to-date (YTD) with +$282M in YTD flows. IBTM performs better with -1.88% YTD performance, and +$85M in YTD flows. Run a side-by-side ETF comparison of TLTW and IBTM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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TLTW vs IBTM performance and flow charts

Performance

Cumulative Flows

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Data Services

Historic performance and flows

Data as of 09/10/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	TLTW IBTM	-0.98%-1.19%	-3.40%-1.20%	-2.22%-1.88%	-0.82%-1.50%	+3.80%+10.57%	n/an/a
Flows	TLTW IBTM	-$25M+$4M	-$61M+$28M	+$282M+$85M	+$601M+$171M	+$1.56B+$469M	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	TLTW IBTM	+8.82%+3.88%	+8.12%+3.77%	+10.21%+5.91%	n/an/a
Max drawdown	TLTW IBTM	-5.71%-2.22%	-6.56%-3.73%	-11.13%-6.35%	n/an/a
Max drawdown duration	TLTW IBTM	73d73d	193d193d	323d318d	n/an/a

Trading data

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	TLTW	IBTM
Last sale 9/11/2026 at 7:57 PM	$20.87	$22.02
Previous close 09/10/2026	$20.85	$22.05
Consolidated volume 09/10/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of August 31, 2026

1-year trailing difference

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	TLTW	IBTM
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 9/11/2026 at 7:57 PM

Live

Closed

	TLTW	IBTM
Last price	$20.87	$22.02
1D performance	+0.07%	-0.15%
AuM	$1.77 B	$555.60 M
E/R	0.35%	0.07%

Characteristics

	TLTW	IBTM
Management strategy	Passive	Passive
Provider	iShares	iShares
Benchmark	Cboe TLT 2% OTM BuyWrite Index	ICE 2032 Maturity US Treasury Index
N° of holdings	47	16
Asset class	Fixed Income	Fixed Income
Trailing 12m distribution yield	Join	Join
Inception date	August 18, 2022	July 6, 2022
ESG	No	No

More TLTW data on Trackinsight

More IBTM data on Trackinsight

Exposure

Countries

TLTW

USA

100.11%

Other

-0.11%

IBTM

USA

100%

Other

-0%

Sectors

TLTW

Sovereign

99.94%

Other

0.06%

IBTM

Sovereign

99.91%

Other

0.09%

Diversification

TLTW

Total weight of top 15 holdings out of 15

59.48%

IBTM

Total weight of top 15 holdings out of 15

99.91%

Top 15 holdings

Data as of July 31, 2026

TLTW

USA, Bonds 4.125% 15aug2053, USD

4.68%

USA, Bonds 4.75% 15nov2053, USD

4.55%

USA, Bonds 4.75% 15may2055, USD

4.51%

USA, Bonds 4.625% 15may2054, USD

4.45%

USA, Bonds 4.25% 15feb2054, USD

4.12%

USA, Bonds 4.75% 15feb2056, USD

4.04%

USA, Bonds 4.25% 15aug2054, USD

4.03%

USA, Bonds 3.625% 15may2053, USD

3.90%

USA, Bonds 4.625% 15feb2055, USD

3.89%

USA, Bonds 2% 15aug2051, USD

3.80%

USA, Bonds 4.5% 15nov2054, USD

3.79%

USA, Bonds 1.875% 15nov2051, USD

3.78%

USA, Bonds 4% 15nov2052, USD

3.66%

USA, Bonds 4.625% 15nov2055, USD

3.24%

USA, Bonds 3.625% 15feb2053, USD

3.04%

IBTM

USA, Notes 4.125% 15nov2032, USD (F-2032)

11.49%

USA, Notes 2.875% 15may2032, USD (C-2032)

11.02%

USA, Notes 1.875% 15feb2032, USD (B-2032)

10.82%

USA, Notes 2.75% 15aug2032, USD (E-2032)

10.53%

USA, Notes 4.375% 31jan2032, USD (G-2032)

5.25%

USA, Notes 4.125% 29feb2032, USD (H-2032)

5.17%

USA, Notes 4.125% 31mar2032, USD (J-2032)

5.15%

USA, Notes 4% 31jul2032, USD (N-2032)

5.13%

USA, Notes 4.125% 31may2032, USD (L-2032)

5.10%

USA, Notes 4% 30apr2032, USD (K-2032)

5.09%

USA, Notes 3.875% 31aug2032, USD (P-2032)

5.07%

USA, Notes 3.875% 30sep2032, USD (Q-2032)

5.05%

USA, Notes 4% 30jun2032, USD (M-2032)

5.05%

USA, Notes 3.75% 31oct2032, USD (R-2032)

5.00%

USA, Notes 3.75% 30nov2032, USD (S-2032)

4.98%

Frequently asked questions about TLTW and IBTM

How have the TLTW and IBTM ETFs performed in 2026?

As of September 10, 2026, TLTW is down -2.22% year-to-date (YTD), while IBTM has lost -1.88%. That puts IBTM better performer ahead so far this year.

Which ETF is attracting more investor money: TLTW or IBTM?

Year-to-date, the TLTW ETF saw +$282M in flows, compared to +$85M for IBTM.

Which ETF is more volatile: TLTW or IBTM?

Over the past year, TLTW had a volatility of 8.12%, while IBTM experienced 3.77%.

Which ETF is bigger: TLTW or IBTM?

As of September 10, 2026, TLTW holds $1.77 B in assets under management (AUM), while IBTM manages $555.60 M.

What sectors do the TLTW and IBTM ETFs invest in?

TLTW leans toward sectors like Sovereign. Meanwhile, IBTM focuses on Sovereign.

What are the top holdings of the TLTW ETF and IBTM ETF?

TLTW top holdings include USA, Bonds 4.125% 15aug2053, USD, USA, Bonds 4.75% 15nov2053, USD and USA, Bonds 4.75% 15may2055, USD. IBTM holds in its top three: USA, Notes 4.125% 15nov2032, USD (F-2032), USA, Notes 2.875% 15may2032, USD (C-2032) and USA, Notes 1.875% 15feb2032, USD (B-2032).

TLTWvsIBTMETF Comparison

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF

iShares iBonds Dec 2032 Term Treasury ETF

TLTW vs IBTM performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the TLTW and IBTM ETFs performed in 2026?

As of September 10, 2026, TLTW is down -2.22% year-to-date (YTD), while IBTM has lost -1.88%. That puts IBTM better performer ahead so far this year.

Which ETF is attracting more investor money: TLTW or IBTM?

Year-to-date, the TLTW ETF saw +$282M in flows, compared to +$85M for IBTM.

Which ETF is more volatile: TLTW or IBTM?

Over the past year, TLTW had a volatility of 8.12%, while IBTM experienced 3.77%.

Which ETF is bigger: TLTW or IBTM?

As of September 10, 2026, TLTW holds $1.77 B in assets under management (AUM), while IBTM manages $555.60 M.

What sectors do the TLTW and IBTM ETFs invest in?

TLTW leans toward sectors like Sovereign. Meanwhile, IBTM focuses on Sovereign.

What are the top holdings of the TLTW ETF and IBTM ETF?

TLTW top holdings include USA, Bonds 4.125% 15aug2053, USD, USA, Bonds 4.75% 15nov2053, USD and USA, Bonds 4.75% 15may2055, USD. IBTM holds in its top three: USA, Notes 4.125% 15nov2032, USD (F-2032), USA, Notes 2.875% 15may2032, USD (C-2032) and USA, Notes 1.875% 15feb2032, USD (B-2032).

Which ETF is more diversified: TLTW or IBTM?

TLTW holds 47 securities with 59.48% of its assets in the top 15. IBTM has 16 securities and a top 15 weight of 99.91%.

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