TLTW vs TLT: Dividend Yield, Total Return & Fees Compared
iShares 20+ Year Treasury Bond Buywrite Strategy ETFiShares 20+ Year Treasury Bond ETF
Data as of the close · refreshed automatically every trading day
Performance: TLTW vs TLT
Total return assumes every distribution is reinvested. Switch to price return to see the change in share price alone.
Total Return (%) · dividends reinvested · Nov 7, 2025 – Nov 9, 2026
DividendDuel.comTLTW vs TLT at a glance
iShares 20+ Year Treasury Bond Buywrite Strategy ETF (TLTW) and iShares 20+ Year Treasury Bond ETF (TLT) are compared below using data through the November 9, 2026 close, refreshed after every trading day.
Over the past year, TLTW returned -0.19% with dividends reinvested, compared with -4.19% for TLT. TLTW currently yields 10.77% (trailing 12-month) against 4.77% for TLT.
TLTW leads on both current yield and 1-year total return. Yields and returns move with markets, so check the longer periods below before drawing conclusions.
| Metric | TLTW | TLT |
|---|---|---|
| Last close | $21.02 | $81.96 |
| Dividend yield | 10.77% (TTM) | 4.77% (TTM) |
| Expense ratio | — | — |
| Pays | monthly | monthly |
| Dividends, last 12 months | $2.26 (12 payments) | $3.91 (12 payments) |
| Issuer | iShares | iShares |
| Inception | — | — |
Overview
Key fund stats as of the latest close.
Total returns
Price change plus dividends paid, by holding period. Best in each period is outlined.
Dividends
Latest payout, trailing 12-month total and the last 12 distributions.
Downside and distribution variability
Income and ending returns do not describe the whole investment experience.
Across 1,059 shared trading dates from August 22, 2022 to November 9, 2026, the largest observed peak-to-trough decline with dividends reinvested was -18.58% for TLTW and -24.47% for TLT. These figures use the same available dates for both instruments, exclude intraday moves, and are not forecasts.
TLTW's recorded distributions over the 12 months ending November 9, 2026 ranged from $0.1214 to $0.2886 per share across 12 distribution dates. A payment range includes special distributions and does not establish the amount of a future payment.
TLT's recorded distributions over the 12 months ending November 9, 2026 ranged from $0.3006 to $0.3448 per share across 12 distribution dates. A payment range includes special distributions and does not establish the amount of a future payment.
Fund expense ratios are annual operating costs, not a bill added to the historical returns shown here. Trading spreads, brokerage costs and personal taxes can reduce an investor's realized return.
Recent distributions
The latest 12 distributions per share, newest first. Dates are reported ex-dividend dates, not cash payment dates.
| TLTW | TLT | ||
|---|---|---|---|
| Nov 3, 2026 | $0.2543 | Nov 2, 2026 | $0.3432 |
| Oct 2, 2026 | $0.2886 | Oct 1, 2026 | $0.3116 |
| Sep 2, 2026 | $0.1311 | Sep 1, 2026 | $0.3147 |
| Aug 4, 2026 | $0.1523 | Aug 3, 2026 | $0.3305 |
| Jul 2, 2026 | $0.1347 | Jul 1, 2026 | $0.318 |
| Jun 2, 2026 | $0.2172 | Jun 1, 2026 | $0.3358 |
| May 4, 2026 | $0.1214 | May 1, 2026 | $0.3153 |
| Apr 2, 2026 | $0.2115 | Apr 1, 2026 | $0.3448 |
| Mar 3, 2026 | $0.204 | Mar 2, 2026 | $0.3006 |
| Feb 3, 2026 | $0.1742 | Feb 2, 2026 | $0.3319 |
| Dec 23, 2025 | $0.1869 | Dec 19, 2025 | $0.3424 |
| Dec 2, 2025 | $0.1876 | Dec 1, 2025 | $0.3206 |
TLTW vs TLT: common questions
Which pays a higher dividend, TLTW or TLT?
As of November 9, 2026, TLTW yields 10.77% (trailing 12-month) and TLT yields 4.77% (trailing 12-month), so TLTW currently pays the higher yield. A higher yield does not guarantee a higher total return.
Which has performed better, TLTW or TLT?
Over the past year with dividends reinvested, TLTW returned -0.19% and TLT returned -4.19%. Past performance does not predict future results.
What would $10,000 in TLTW vs TLT be worth after one year?
With dividends reinvested, $10,000 invested one year before November 9, 2026 would have grown to about $9,981 in TLTW and $9,581 in TLT.
How often do TLTW and TLT pay dividends?
TLTW pays monthly (12 payments in the last 12 months) and TLT pays monthly (12 payments).
Is TLTW or TLT the better investment?
It depends on your goals, time horizon and tax situation. Income-focused investors often weigh yield and payment frequency, while long-term investors usually compare total return and fees. Dividend Duel is an educational tool and does not provide investment advice.
Research TLTW and TLT beyond the yield
Use the same dates to compare an income strategy with its index alternative. Look at both reinvested total return and price return before using either fund's payout rate in an income scenario.
Review iShares 20+ Year Treasury Bond Buywrite Strategy ETF (TLTW) payment history and iShares 20+ Year Treasury Bond ETF (TLT) payment history before choosing assumptions for the dividend reinvestment calculator. Run each scenario separately; the calculator uses your rates rather than importing these historical returns.
For a cash target, use the income goal calculator. Read our guide to comparing dividend ETFs and data and editorial approach for context on the historical figures.
Related comparisons
More side-by-side comparisons with TLTW and TLT.
Published by Delta Dividends LLC. This page is for education only and is not investment advice. Past performance does not guarantee future results. Read the full disclosure.