NEOS Enhanced Income 20+ Year Treasury Bond ETF
$41.72+0.21 (+0.51%)
- 0.58%
- $19M
- −7.7%
- 6.67%
- 0M sh
- $41.45
- low $40.69high $48.70
The ETF.net TLTI Grade
C
Score 48 out of 100
- 6 of 14
Score 48 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B62 out of 100Rank 6 of 14Mission
Whether the fund did what it promised, tested against its stated mandate.D39 out of 100Rank 5 of 5Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F22 out of 100Rank 12 of 14Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C45 out of 100Rank 9 of 14Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C48 out of 100Rank 9 of 13Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B61 out of 100Rank 6 of 14
Our read on TLTI
CTLTI takes an odd route to Treasury income: it holds 20+ year Treasuries and sells S&P 500 put spreads on the side, so the payout leans on equity volatility while the bond leg keeps its own upside. Distributions monthly.
The Fund seeks monthly income through a portfolio focused on U.S. Treasury securities with maturities of at least 20 years, supplemented by an actively managed S&P 500 put-option strategy.
Why people hold it
- The income engine sits outside the bonds. Premiums come from SPX put spreads sold against the portfolio, so the long-Treasury sleeve isn't capped by calls written on it.neosfunds.comneosfunds.com
- Built for tax-aware income: the SPX index options qualify as Section 1256 contracts, and the fund discloses that distributions have been classified as return of capital.neosfunds.com
- 0.58% is exactly the median fee among Treasury option-income funds, so the active overlay costs the going rate rather than a premium.
- Hands-on options book: the adviser can adjust the written and purchased puts before expiration instead of running a fixed roll on autopilot.neosfunds.com
Worth knowing
- Two risk dials, not one: 20+ year Treasuries move sharply with rates, and the short S&P 500 puts lose value in an equity selloff (the purchased puts bound how far).neosfunds.com
- Cheaper neighbors exist in the same lane: TLTW runs a buy-write on long Treasuries at 0.35% versus 0.58% here, though it writes calls on the bonds themselves.
- Launched December 2024, still a small fund that trades lightly. Short record to judge, and limit orders plus a glance at the spread are worth the extra click.
TLTI Holdings
- Bonds
- 5
- 100%
- 912810TT5
Sectors
- Technology38.7%
- Financials12.1%
- Communication9.5%
- Consumer Discretionary9.3%
- Health Care9.3%
- Industrials7.7%
- Consumer Staples4.5%
- Energy3.5%
- Utilities2.0%
- Real Estate1.8%
- Materials1.7%
TLTI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
TLTI$9,228
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | TLTI |
|---|---|
| Year to date | −5.7% |
| 1 month | −2.9% |
| 3 months | −6.1% |
| 1 year | −7.7% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TLTI |
|---|---|---|
| 2026 YTD | −5.7% | |
| 2025 | +4.3% | |
| 2024 | −4.6% |
TLTI in the news
TLTI Dividends
- 6.67%
- $2.77
- $0.23 per share
- Monthly
Distribution history
TLTI Risk
- 9.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.50
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −11.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.06
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TLTI Cost
0.58%
TLTI0.58%
- The middle half of Treasury Option Income funds
- Median 0.65%
4 of the 13 Treasury Option Income funds charge less.
Other funds in Treasury Option Income
- BJUCYAptus Enhanced Yield ETFExpense ratio 0.60%1 year return +6.3%
- COVTOverlay Shares Short Term Bond ETFExpense ratio 0.79%1 year return +4.4%
- CUSDXSGI Enhanced Core ETFExpense ratio 1.05%1 year return +5.2%
- CDEFRETF Series Solutions - Aptus Deferred Income ETFExpense ratio 0.79%1 year return −0.5%
- CLQDMAmplify ETF Trust - Amplify LQD Investment Grade 12% Target Income ETFExpense ratio 0.54%1 year return —