TLTW vs USFR: Performance, Holdings, Fees & Risk
TLTW and USFR are ETFs, but they can differ materially in exposure, yield, fees and risk. TLTW is iShares 20+ Year Treasury Bond BuyWrite Strategy ETF, while USFR is WisdomTree Floating Rate Treasury Fund. TLTW is broader by holdings count, with 50 positions versus 6 for USFR. USFR has the lower expense ratio. Current AlgovestIQ evidence has USFR ahead on AIQ Score, 60 versus 50.
What is the main difference between TLTW and USFR?
TLTW holds 50 positions to USFR's 6.
| Metric | TLTW | USFR |
|---|---|---|
| Fund | ||
| Expense ratio | 0.35% | 0.15% |
| Holdings | 50 | 6 |
| Distribution yieldTrailing 12 months | 11.55% | 3.72% |
| Average volume | 1,580,038 | 5,734,869 |
| Performance | ||
| 1Y return | -13.3% | +0.3% |
| YTD return | -8.8% | +0.4% |
| Risk | ||
| Annualized volatility | 8.8% | 1.1% |
| Max drawdown (1Y) | -17.4% | -0.3% |
| Beta | 0.23 | -0.01 |
| Sharpe ratio | -2.02 | -3.37 |
| Sortino ratio | -2.99 | -2.45 |
| AlgovestIQ | ||
| AIQ Score | 50/100 | 60/100 |
| AIQ Edge Score | 4/10 | 8/10 |
| Momentum | 53/100 | 78/100 |
| Risk Resilience | 63/100 | 66/100 |
AlgovestIQ AIQ Comparison
iShares 20+ Year Treasury Bond BuyWrite Strategy ETF vs WisdomTree Floating Rate Treasury Fund
USFR leads
USFR leads by 10 AIQ points, primarily on Momentum and Quality, and the lead has widened from 7 points over 30 sessions.
Fragile: 2 of 4 evidence groups support USFR, its lead is widening, and its current signal state is conflicted.
iShares 20+ Year Treasury Bond BuyWrite Strategy ETF
WisdomTree Floating Rate Treasury Fund
The Algovestiq AIQ Score currently favors USFR over TLTW, 60 versus 50 as of Oct 21, 2026. USFR's advantage is driven primarily by stronger momentum and quality. USFR also shows the stronger technical structure relative to its 50-day moving average. 2 of 4 covered evidence groups favor USFR today, and the comparison is rated Fragile on stability: only 2 of 4 covered evidence groups agree. USFR lead: Strengthening — the AIQ differential moved from 7 to 10 points over 30 sessions.
Compare iShares 20+ Year Treasury Bond BuyWrite Strategy ETF and WisdomTree Floating Rate Treasury Fund across performance, expense ratio, dividend yield, drawdown, volatility and the Algovestiq AIQ Score.
TLTW vs USFR: which fits what
Each row is settled by a single measure. Where the gap is too small to matter it reads Similar, and no row decides the comparison as a whole.
| If you want | TLTW | USFR | Fits |
|---|---|---|---|
| Lower costExpense ratio | 0.35% | 0.15% | USFR |
| Broader diversificationNumber of holdings | 50 | 6 | TLTW |
| Higher incomeTrailing 12-month distribution yield | 11.55% | 3.72% | TLTW |
| Smaller drawdownsMax drawdown, 1 year | -17.4% | -0.3% | USFR |
| Lower volatilityAnnualized volatility, 1 year | 8.8% | 1.1% | USFR |
Similar means the gap is within 0.01 percentage points of expense ratio, 25% more holdings, 3 points of top-10 weight, 0.2 points of yield, 2 points of drawdown or 1 point of volatility. Past drawdowns and volatility describe the funds’ history, not their future.
Performance over time
Total return with distributions reinvested, from daily closes for both ETFs.
Total return comparison
Growth of $10,000, distributions reinvested
Split-adjusted closes; each distribution is reinvested at the close on its ex-dividend date. Taxes and trading costs are not modeled.
Compare TLTW and USFR against another ticker
Open a multi-ticker workspace without changing this focused pair page.
AIQ Factor Divergence
Where the two separate, on the four dimensions behind the AIQ Score. Bars read outward from a shared zero: further from the centre is a wider gap.
- Momentum53 vs 78USFR +25
- Quality56 vs 67USFR +11
- Risk Resilience63 vs 66Even
- Value36 vs 36Even
2 of 4 evidence groups favor USFR. USFR’s edge is concentrated in momentum and quality.
What changed since the last close
Latest scored session 2026-10-20, compared against the prior scored session 2026-10-19.
Largest factor move: Momentum +6
No signal started or stopped since the prior session; its 5 active signals are unchanged.
No factor moved materially.
No signal started or stopped since the prior session; its 10 active signals are unchanged.
USFR's lead narrowed by 1 AIQ point in the latest session.
Deeper signal detail for each name lives on its own signals page — TLTW and USFR both carry a full feed there.
Fund facts, side by side
Two funds tracking overlapping universes are separated by cost and risk far more than by holdings. Those lead here.
| Measure | TLTW | USFR | Why it matters |
|---|---|---|---|
| Expense ratio | 0.35% | 0.15% | Lower is better — it compounds against you every year you hold. |
| Holdings | 50 | 6 | More holdings means broader diversification, not better returns. |
| Average volume | 1,580,038 | 5,734,869 | Liquidity — matters most if you trade size. |
| Annualized volatility | 8.8% | 1.1% | Lower is a steadier ride for the same exposure. |
| Max drawdown (1Y) | -17.4% | -0.3% | The worst peak-to-trough loss over the past year. |
| Sharpe ratio | -2.02 | -3.37 | Return per unit of risk. Higher is better. |
| Beta | 0.23 | -0.01 | Sensitivity to the broad market. Neither direction is better — it depends on the role in your portfolio. |
Where the exposure actually sits
Sector exposure for each fund, ordered by the size of the difference.
AIQ Agreement Matrix
2 of 4 covered evidence groups favor USFR. A wide gap backed by one group is a weaker case than a narrow gap backed by five.
| Evidence group | Favors | Reading |
|---|---|---|
| AIQ Score | USFR | 50 vs 60 |
| Fundamentals | Not covered | Not covered |
| Valuation | Even | Value 36 vs 36 |
| Technicals | USFR | Price vs 50-day -0.4% vs 0.1%; vs 200-day -6% vs 0.2% |
| Risk Resilience | Even | Risk Resilience 63 vs 66 |
| Analyst expectations | Not covered | Not covered |
✓ agrees with the overall verdict · ✕ points the other way. Groups marked “not covered” lack data on one or both of TLTW and USFR and are excluded from the count.
AIQ Decision Stability
The conclusion is sensitive to small changes. Treat the lead as provisional and watch the flip conditions below.
- The AIQ gap is moderate at 10 points.
- Only 2 of 4 covered evidence groups agree. (argues the conclusion is provisional)
- The leader's advantage has been widening. (supports the conclusion holding)
- The lead has been steady session to session. (supports the conclusion holding)
- The leader is throwing conflicting signals. (argues the conclusion is provisional)
Stability combines the score gap, how broadly the evidence agrees, how steady the lead has been across daily snapshots, the current signal state on both names, and analyst dispersion on USFR.
How the comparison changed
45 daily snapshots · Sep 6 – Oct 20USFR lead: Strengthening — the AIQ differential moved from 7 to 10 points over 30 sessions.
- Today
- USFR +10
- 50 vs 60
- 7 sessions ago
- USFR +12
- 48 vs 60
- 30 sessions ago
- USFR +7
- 43 vs 50
- 90 sessions ago
- Not covered
The lead has not changed hands in this window.
AIQ Signal Divergence
Only the signals that bear on the head-to-head. A conflicted name is carrying bullish and bearish rules at the same time — the technical evidence is not pointing one way.
1 bullish / 2 bearish / 2 neutral, conflicted
Only TLTW
- Bollinger Band Squeeze — neutral, volatility, short horizon
- Death Cross Active — bearish, trend, long horizon (5.61%)
- Downtrend Structure Active — bearish, trend, long horizon
6 bullish / 2 bearish / 2 neutral, conflicted
Only USFR
- Golden Cross Active — bullish, trend, long horizon (0.06%)
- Keltner Channel Breakout — bullish, volatility, short horizon
- RSI Overbought — bearish, momentum, short horizon
- EMA Ribbon Compression — neutral, trend, medium horizon
- EMA Ribbon Expansion Bullish — bullish, trend, medium horizon
- 52-Week High Proximity — bullish, risk, long horizon (0.0%)
- 52-Week Low Proximity — bearish, risk, long horizon (0.5%)
- Uptrend Structure Active — bullish, trend, long horizon
Both carry 2 more signals that do not separate them: ATR Contraction - Coiling, MACD Bullish Crossover.
USFR leads the comparison while carrying a conflicted signal state, which is one reason the stability rating is not higher.
Price vs model alignment
Whether the latest session's price move confirms what the model did over the same session, or contradicts it.
Price and the AIQ Score both moved up over the latest session (price +0.29%, AIQ +1 points).
Neither the price nor the AIQ Score moved enough in the latest session to confirm or contradict the other (price 0%, AIQ 0 points).
What would flip this result
A state, not a forecast. These are the specific, observable changes that would reverse the verdict — not a price prediction.
- 1TLTW closes the Momentum gap — currently 25 points behind, the largest single contributor to USFR's edge.
- 2TLTW's Death Cross Active resolves — a bearish trend rule currently active against it.
- 3USFR's conflicting signal state resolves bearish — it currently carries 6 bullish and 2 bearish rules at once.
- 4A regime shift changes factor weighting — Quality and Value carry the heaviest weights in the composite, so a rotation toward either would move the result most.
The full evidence
Every number behind the verdict. The leader is called above each group so you are not left to solve it from the table.
Performance
USFR leads 5 of 6 windows| Metric | TLTW | USFR |
|---|---|---|
| 1 week (5 sessions) | 2.3% | 0.1% |
| 1 month (20 sessions) | -2.1% | 0% |
| 3 months (63 sessions) | -4.1% | 0.1% |
| 6 months (126 sessions) | -8% | 0.1% |
| Year to date | -8.8% | 0.4% |
| 1 year (252 sessions) | -13.3% | 0.3% |
Technicals
USFR has the stronger structure| Metric | TLTW | USFR |
|---|---|---|
| RSI (14) | 63.3 | 100 |
| ADX (14) | 26.3 | 20.3 |
| Price vs 50-day | -0.4% | 0.1% |
| Price vs 200-day | -6% | 0.2% |
| Volatility (1M, annualized) | 12.1% | 1.1% |
Risk
Split| Metric | TLTW | USFR |
|---|---|---|
| Beta | 0.23 | -0.01 |
| Sharpe ratio | -2.02 | -3.37 |
| Sortino ratio | -2.99 | -2.45 |
| Max drawdown | -17.4% | -0.3% |
| Current drawdown | -14.1% | 0% |
| Annualized volatility | 8.8% | 1.1% |
| Value at risk (95%) | -1% | 0% |
Straight answers
Short answers to the questions fund investors ask about this pair, from the figures above.
What is the difference between TLTW and USFR?
TLTW holds 50 positions to USFR's 6.
Which ETF is more diversified, TLTW or USFR?
TLTW holds more positions: 50 versus 6 for USFR.
Which has the lower expense ratio?
USFR has the lower expense ratio, 0.15% a year against 0.35% for TLTW.
Which ETF has the higher distribution yield?
TLTW, with a trailing 12-month distribution yield of 11.55% against 3.72% for USFR.
Which ETF has been more volatile?
TLTW has been more volatile over the past year, at 8.8% annualized against 1.1% for USFR.
Which ETF has had the smaller drawdown?
USFR fell less from peak to trough over the past year: -0.3% against -17.4% for TLTW.
Compare TLTW and USFR with others
Continue your research
This page answers which of the two. These answer the questions on either side of it.
How this comparison is scored
The Algovestiq AIQ Score composites four factors — Quality, Value, Momentum and Risk, each carrying a fixed weight. Sentiment is reported separately as SentimentPulse and is not folded into the composite. Scores refresh every trading day, and this page regenerates from the latest snapshot rather than being written once.
The verdict names a leader, states how broadly six independent evidence groups agree, and rates how durable that conclusion is given the score gap, its recent trajectory and the current signal state on both names.
How to use side-by-side comparison →This comparison is informational and educational, not investment advice. AIQ scores update daily; re-check after earnings, guidance or macro data that materially changes either name’s factor profile.