# iShares 20+ Year Treasury Bond Buywrite Strategy ETF (TLTW)

> Source: Nexqual · https://nexqual.com/TLTW · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, iShares 20+ Year Treasury Bond Buywrite Strategy ETF (TLTW), nexqual.com/TLTW" · informational, not investment advice.

**Price:** USD 20.93 (-0.14% on the day) · last close of Oct 23, 2026; US market after hours, not a live price. Prev close 20.96 · day 20.91–20.98 · 52w 19.73–24.08 · market cap null · BTS

## Key facts
- Total return with dividends: 1Y -2.8% vs S&P 500 +13.4%; 5Y -3.8% vs S&P 500 +76.9%.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2022-08-22) |
|---|---|---|
| Total return | -2.8% | -3.8% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -2.8% | -0.9% |
| Volatility (annualized) | 8.4% | 11.1% |
| Max drawdown | -9.6% (Feb 2026→Oct 2026) | -18.3% (Aug 2022→Oct 2023) |

## Peers
SVOL (Simplify Volatility Premium ETF) USD 16.62 +0.54% · LQDW (iShares LQD Premium Income+ ETF) USD 22.74 -0.13% · HYGW (iShares HYG Premium Income+ ETF) USD 28.02 +0.06% · TSLY (YieldMax TSLA Option Income Str) USD 21.59 -0.51% · XYLD (Global X S&P 500 Covered Call E) USD 41.15 -0.36%

## More
Full page: https://nexqual.com/TLTW · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 56 | 17.9% | ±10.2% |