TLT vs TLTW: Yield, Cost and Returns Compared
As of Nov 8, 2026, TLTW yields more: 10.78% (dividend yield) against 4.35% for TLT. TLT is cheaper to own at 0.15% a year vs 0.35%. Over the same 4 years (Aug 2022 to Oct 2026), TLTW returned -0.4% a year with distributions reinvested, and TLT -3.5%.
TLTiShares 20+ Year Treasury Bond ETF4.35%dividend yield
TLTWiShares 20+ Year Treasury Bond Buywrite Strategy ETF10.78%dividend yield| Compared | TLT | TLTW |
|---|---|---|
| YieldDividend yield | 4.35% | 10.78% |
| Expense ratio | 0.15% | 0.35% |
| Total return, 1 yr | −5.2% | −1.4% |
| Total return, 3 yr (a year) | +3.6% | +5.5% |
| Total return, 5 yr (a year) | −7.9% | — |
| Total return, 10 yr (a year) | −1.8% | — |
| Worst drop since Aug 2022 | -22.5% | -16.5% |
| Share price since Aug 2022 | −27% | −46% |
| Pays | Monthly | Monthly |
| Issuer | iShares | iShares |
| Assets | $47.5B | $1.6B |
| Started | 2002 | 2022 |
| Type | Long Government | Long Government |
Higher yield
TLTW
10.78%
Lower cost
TLT
0.15%
Better total return
TLTW
-0.4%/yr
Smaller worst drop
TLTW
-16.5%
Key facts: TLT vs TLTW
Data as of · Source: SmarterDividends data
- As of Nov 8, 2026, TLT yields 4.35% (dividend yield) and TLTW yields 10.78% (dividend yield).
- TLT's expense ratio is 0.15% and TLTW's is 0.35%: $15 vs $35 a year on $10,000.
- From Aug 2022 to Oct 2026, $10,000 in TLT grew to $8,619 (-3.5% a year) and $10,000 in TLTW to $9,821 (-0.4% a year), distributions reinvested.
- Their worst month-end drops over that time: -22.5% for TLT and -16.5% for TLTW.
Cite this page
SmarterDividends, "TLT vs TLTW: Yield, Cost and Returns Compared," updated Nov 8, 2026, https://smarterdividends.com/compare/tlt-vs-tltw
$10,000 in each, Aug 2022 to Oct 2026
Distributions reinvested, month-end values, with the S&P 500 for reference.
TLT became
$8,619
-3.5% a year
TLTW became
$9,821
-0.4% a year
Year by year
| Year | TLT | TLTW |
|---|---|---|
| 2025 | +4.3% | +11.4% |
| 2024 | −8.1% | −2.2% |
| 2023 | +2.8% | +0.7% |
Total return each calendar year, distributions reinvested.
Top holdings
No overlap in the top ten.
TLT
- Holdings not reported.
TLTW
- TLT iShares 20+ Year Treasury Bond ETF100.5%
- XTSLA BlackRock Cash Funds Treasury SL Agency0.2%
TLT vs TLTW: questions
Is TLT or TLTW better?
It depends on the job. TLTW pays more today (10.78% vs 4.35%), TLT costs less, and TLTW has the better total return over Aug 2022 to Oct 2026, with TLTW holding up better in its worst stretch. For income, look at yield and whether the payouts hold up; for growth, total return and drawdowns.
Which pays a higher dividend, TLT or TLTW?
TLTW, at 10.78% against 4.35% for TLT as of Nov 8, 2026. On $10,000 that's about $1,078 vs $435 a year at today's rates.
Which has the better total return?
TLTW. From Aug 2022 to Oct 2026, it returned -0.4% a year with distributions reinvested, against -3.5% for TLT. $10,000 became $9,821 vs $8,619.
Which is cheaper, TLT or TLTW?
TLT, with a 0.15% expense ratio against 0.35%.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. TLTW leads on 4 of 6 measures above. For information only, not investment advice. Last fund data: Nov 8, 2026.