TLTW vs VOO
iShares 20+ Year Treasury Bond BuyWrite Strategy ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | TLTW | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.03% | |
| AUM | $1.8B | $997.4B | |
| Dividend Yield | 11.24% | 1.08% | |
| Holdings | 4 | 509 | |
| YTD Return | -6.18% | +12.25% | |
| 1Y Return | -3.01% | +20.92% | |
| 3Y Return (annualized) | +0.27% | +21.79% | |
| 5Y Return (annualized) | - | +13.05% | |
| Volatility (annualized) | 12.1% | 14.1% | |
| Max Drawdown | -18.6% | -34.3% | |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Aug 18, 2022 | Sep 7, 2010 |
TLTW vs VOO Performance
iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) is a ETF from iShares by BlackRock (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year TLTW returned -3.01% while VOO returned +20.92%. Year to date, TLTW is down 6.18% versus a gain of 12.25% for VOO.
Over three years, TLTW compounded at +0.27% per year against +21.79% for VOO. Across the full 4-year window we track, VOO has the edge at +13.45% annualized vs -2.41%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 12.1% for TLTW. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.6% for TLTW and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
TLTW charges 0.35% per year while VOO charges 0.03%. On a $10,000 position that is $35 vs $3 annually, a gap of $32 per year that compounds over a long holding period. On income, TLTW currently yields 11.24% against 1.08% for VOO.
Holdings Overlap
TLTW and VOO share 0 holdings out of 507 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, TLTW or VOO?
TLTW has an expense ratio of 0.35% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $32 per year of difference.
Which performed better, TLTW or VOO?
Over the past year TLTW returned -3.01% vs +20.92% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (4 years), TLTW annualized -2.41% vs +13.45% for VOO. Past performance does not guarantee future results.
Which is riskier, TLTW or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 12.1% for TLTW. Worst drawdown: TLTW -18.6% vs VOO -34.3%.
Should I hold both TLTW and VOO?
TLTW and VOO have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between TLTW and VOO?
TLTW and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, TLTW or VOO?
TLTW yields 11.24% while VOO yields 1.08%, so TLTW currently pays the higher dividend yield.
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