iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW)
| Assets | $1.18B |
| Expense Ratio | 0.35% |
| PE Ratio | n/a |
| Shares Out | 49.65M |
| Dividend (ttm) | $3.90 |
| Dividend Yield | 17.18% |
| Ex-Dividend Date | Jul 2, 2025 |
| Payout Frequency | Monthly |
| Payout Ratio | n/a |
| Volume | 546,706 |
| Open | 22.59 |
| Previous Close | 22.58 |
| Day's Range | 22.56 - 22.69 |
| 52-Week Low | 22.18 |
| 52-Week High | 27.39 |
| Beta | 0.55 |
| Holdings | 4 |
| Inception Date | Aug 18, 2022 |
About TLTW
Fund Home PageThe iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) is an exchange-traded fund that is based on the CBOE TLT 2% OTM Buywrite index. The fund uses a fund-of-fund approach to passively track an index that measures the performance of holding shares of the iShares 20+ Year Treasury Bond ETF and writes one-month, out-of-the-money call options against the shares. TLTW was launched on Aug 18, 2022 and is issued by BlackRock.
Dividends
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jul 2, 2025 | $0.31368 | Jul 8, 2025 |
| Jun 3, 2025 | $0.4186 | Jun 6, 2025 |
| May 2, 2025 | $0.37498 | May 7, 2025 |
| Apr 2, 2025 | $0.25793 | Apr 7, 2025 |
| Mar 4, 2025 | $0.25883 | Mar 7, 2025 |
| Feb 4, 2025 | $0.38827 | Feb 7, 2025 |
Performance
TLTW had a total return of 4.34% in the past year, including dividends. Since the fund's inception, the average annual return has been -2.79%.
News
TLTW: Covered Call Treasury ETF, Strong Distributions And Momentum, Favorable Market Conditions
TLTW invests in long-term treasuries and writes covered calls on its holdings. TLTW's strategy results in a sky-high 17.3% distribution yield, but also consistent distribution cuts and declining price...
TLTW: Attractive As A Short-To-Medium Term Hedge Against Rising Yields
iShares 20+ Year Treasury Bond BuyWrite Strategy ETF is attractive as a short-to-medium term hedge against rising yields, but maybe not suitable for a long-term buy & hold strategy. Current macro cond...
31 June Ideal 'Safer' Monthly Paying Dividend Stocks And 80 Funds
June U.S. exchange-traded monthly paid (MoPay) dividends, upsides, and net-gains include: 1. Stocks-by-yield (80); 2. Stocks-by-price-upside (30); 3. Closed-End-Investments, Exchange-Traded-Funds & No...
TLTW Has Delivered Great Results, But Risks Are Rising
TLTW's buy-write strategy has outperformed as 20+ year yields remained stable, supporting income generation. The current macro environment is stable, with low recession odds, steady unemployment, and ...
TLTW: A Sharp Rally In Bonds Is A Risk (Double Rating Downgrade)
I am downgrading the iShares 20+ Year Treasury Bond BuyWrite Strategy ETF from Strong Buy to Hold due to rising risks of a significant rally in long-term Treasuries. TLTW employs a covered call strate...
TLTW: Investors Losing Confidence
President Trump's tariffs may spur inflation, prompting a hawkish Federal Reserve response, which could negatively impact long-term bonds like TLTW. The U.S. budget deficit may worsen due to Trump's t...
TLTW: Long Bonds Might Be Under Pressure For A While (Rating Upgrade)
Long-term Treasury bonds have experienced significant drawdowns due to rising yields, driven by concerns over increasing U.S. debt and persistent inflation. TLTW, a buy-write ETF that holds TLT and se...
TLTW: DOGE Cuts May Benefit Bonds
The TLTW ETF has lost 9.0% in market value over the past year but earned enough premium income to achieve a modest 4.9% total return. The ETF's strategy of writing covered call options caps upside ret...
Instead Of TLTW, I Chose This Strategy For Better Leverage On TLT
TLTW, with its slightly OTM covered call strategy, performs better than LQDW or HYGW compared to its underlying ETF but has had a negative total return since its inception. While in the very short ter...
TLTW: Soft Landing And A Trading Range For Yields
TLTW has outperformed TLT, losing only 2% compared to TLT's 4.4% decline, thanks to its covered call strategy generating additional income. A trading range in long-term Treasury bonds, similar to the ...
TLTW: You Don't Need This Fund For Income
iShares 20+ Year Treasury Bond Buywrite Strategy ETF sells 2% OTM monthly calls on TLT, yielding up to 20%, but has seen a 40.84% decline since inception and a 12% loss in total returns. TLTW's rigid ...
TLTW: Bullish Bonds? Then Avoid TLTW
TLTW, a passively managed fund with a 0.35% expense ratio, writes one-month covered call options on TLT, boosting yield but capping gains. TLTW's TTM yield is 14.16%, significantly higher than TLT's 3...
TLTW: 15% Yield With Favorable Macro
iShares 20+ Year Treasury Bond Buywrite Strategy ETF buys TLT and sells call options, generating higher income but capping upside potential. TLTW has underperformed in price return but offers signific...
TLTW ETF: Maybe It's Time To Accumulate
TLTW's high yield (15.34%) and effective rolling method make it an attractive investment, despite potential risks from sudden TLT price increases. In my opinion, is a good time to accumulate TLTW as a...
TLTW: Covered Call ETF Focusing On Long-Term Treasuries, Strong 14.9% Yield, Risks Abound
TLTW invests in long-term treasuries and sells covered calls on its holdings. The fund's high duration and covered call strategy result in substantial income but also consistent capital losses and dis...
TLTW Makes Sense For Income And Rate Cut Speculation
Long-term Treasury bonds are performing well with the possibility of a rate cut cycle, making exposure to them beneficial. The iShares 20+ Year Treasury Bond BuyWrite Strategy ETF offers enhanced inco...
TLTW: Time To Go Long With Long Treasury ETFs
The TLTW ETF is a great way to get income (until it isn't), under the current rate conditions. TLTW features a 15.5% monthly dividend from its covered call selling, a very reliable income source due t...
Undercovered Dozen ETF Edition: China, Bitcoin, Cybersecurity, Motley Fool +
This ETF Edition highlights 12 less covered exchange-traded fund ideas on Seeking Alpha from June 1st - July 15th. ETFs in our first edition include Saba Closed-End Funds, iShares 20+ Year Treasury Bo...
TLTW: A Buy Until Recession Imminent
Major rallies in long-term Treasuries that cause TLTW's covered call strategy to underperform are rare. iShares 20+ Year Treasury Bond Buywrite Strategy ETF offers an attractive monthly distribution w...
Why I'm Fading The 11.58% Distribution Yield Of The TLTW ETF
iShares 20+ Year Treasury Bond Buywrite Strategy ETF offers exposure to 20-year treasury bonds and higher income through call options. The TLTW product captures volatility premium and coupons while gi...
TLTW: Covered Call ETF With 11% Yield Plus Upside Potential
Amid the popularity of covered call writing equity ETFs, TLTW, which does so with TLT as its base, is more intriguing to me currently.
TLTW: Not The Right Way To Trade Long Rates Or Volatility
The iShares 20+ Year Treasury Bond Buy-Write Strategy ETF has not performed well compared to TLT since long rates peaked in October 2020. As long rates moved lower from their October 2023 highs, TLT o...
TLTW Is For Speculators, Not Income Investors
"Investment products" offering double-digit yields, such as buy-write or option strategy ETFs, are almost always unsuitable for individual retired investors. The iShares 20+ Year Treasury Bond BuyWrit...
TLTW: Weakness Of Strategy On Full Display
TLTW's buy/write strategy has led to underperformance, with TLT returning 14% compared to TLTW's 5% since October. This is because TLTW's monthly returns are capped. Modeling long-term yields as short...
TLTW: Supercharged By High Volume Environment To 19.85% Yield
The iShares 20+ Year Treasury Bond BuyWrite Strategy ETF is designed to offer returns similar to holding 20-year treasury bonds while adding income through writing monthly call options. This strategy ...