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LQDM vs TLTW

Amplify LQD Investment Grade 12% Target Income ETF

LQDMCCboe

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF

TLTWACboe

Overlap

Expense ratio

TLTW −0.19pt a year

LQDM0.54%TLTW0.35%

Avg volume · 30D

TLTW 274.2×the volume

LQDM5.81KTLTW1.59M

LQDM vs TLTW Performance

Jul 31, 2026 – Oct 30, 2026

−0.3%LQDM+1.7%TLTW

Jul 31, 2026 to Oct 30, 2026. LQDM −0.3%. TLTW +1.7%. Use the arrow keys to read each point.−4%−3%−2%−1%1%Jul 2026Sep 2026Oct 2026
Expense ratio
LQDM 0.54%
TLTW 0.35%, better
Fund size
LQDM $4M
TLTW $1.61B
1Y total return
LQDM No data
TLTW −1.4%
Yield (12M)
LQDM No data
TLTW 11.33%
Holdings
LQDM 3
TLTW 48
Avg volume (30D)
LQDM 5.81K sh
TLTW 1.59M sh, better
NAV per share
LQDM $23.04
TLTW $21.11
52W range

ETF.net Grade

LQDM: Cost 69, Risk 34, Mission not scored, Tradability 49, Holdings 50, Durability 26. TLTW: Cost 92, Risk 25, Mission 89, Tradability 89, Holdings 75, Durability 97.
Pillar letters and Scores for LQDM, TLTW, with each pillar’s weight
PillarLQDMTLTW
Cost30% weightB69A92Higher
Mission25% weightNot scoredA89
Risk15% weightD34HigherD25
Tradability15% weightC49A89Higher
Holdings10% weightC50A75Higher
Durability5% weightD26A97Higher

Rank among Treasury Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. LQDM and TLTW are both graded against the same 13 Treasury Option Income funds, so their Grades compare head to head.

Treasury Option Income⁠

Category · 13 funds
See all 13 ›

TLTW ranks 2nd and LQDM 8th of 13 funds in the Treasury Option Income Category.

  1. Rank 1ABENJHorizon Landmark ETFScore 76
  2. Rank 2ATLTWiShares 20+ Year Treasury Bond BuyWrite Strategy ETFScore 75
  3. Rank 3ABUCKSimplify Treasury Option Income ETFScore 69
  4. Rank 8CDEFRAptus Deferred Income ETFScore 40
  5. Rank 8CLQDMAmplify LQD Investment Grade 12% Target Income ETFScore 40
  6. Rank 10DFIAXNicholas Fixed Income Alternative ETFScore 37

Our read on each fund

ETF.net Research

LQDMCAmplify LQD Investment Grade 12% Target Income ETF

TLTWAiShares 20+ Year Treasury Bond BuyWrite Strategy ETF

In short

LQDM No data

TLTW Owns the long Treasury ETF, sells calls against it monthly, and passes the premium out as income. A 2022 launch that brought the covered-call playbook to 20+ year bonds, priced below the niche's usual fee.

Stated mandate

LQDM No data

TLTW The Fund tracks an index that holds the iShares 20+ Year Treasury Bond ETF and writes monthly covered calls to generate income, while offering income in addition to dividends.

Why people hold it

LQDM No data

  • TLTW Fee runs 0.35% a year, under the going rate in its options-income Treasury niche, and no higher-graded peer here undercuts it.
  • Plumbing is refreshingly simple: hold TLT, write monthly covered calls on it, send the premium out monthly.
  • Follows its index closely, and it is an actively traded, multi-billion-dollar fund rather than a thin novelty.
  • One of the stronger implementations in a small peer group of Treasury option-overlay funds.

Worth knowing

LQDM No data

  • TLTW The written calls cap upside: in a sharp long-bond rally, gains above the strike belong to the option buyer.
  • Duration still rules underneath. This is a 20+ year Treasury position, so rate moves drive the price whatever the income does.
  • Payouts track option premiums and may include return of capital, so the monthly distribution is not a fixed coupon.

Full LQDM profile⁠

Full TLTW profile⁠

LQDM vs TLTW Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

LQDM vs TLTW Cost

Overpaying LQDM vs TLTW

$3,594

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • LQDM 0.54%

    $10,720

  • TLTW 0.35%

    $7,126

$10,000
30 years

Cost over time

  • LQDM 0.54%
  • TLTW 0.35%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530LQDM $10,720TLTW $7,126

Year by year

YearLQDMTLTWOverpaying
10$971$634$337
20$3,724$2,454$1,270
30$10,720$7,126$3,594

Expense ratio

  • 0.54%LQDM
  • 0.35%TLTW, cheaper
  • Middle half of Treasury Option Income funds
  • Median 0.65%

TLTW cheapest of 13 funds

LQDM 4th cheapest of 13 funds

LQDM vs TLTW Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
LQDM No data
TLTW 11.33%
Payout (12M)
LQDM No data
TLTW $2.39
Last payment
LQDM $0.23
TLTW $0.29
Ex-dividend
LQDM Oct 29, 2026
TLTW Oct 2, 2026
Paid on
LQDM Oct 30, 2026
TLTW Oct 7, 2026
Frequency
LQDM Monthly
TLTW Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

LQDMMonthly · 6 paymentsAll LQDM payments⁠
One bar per payment. 6 payments from 2023 to 2026 YTD. May 28, 2026 $0.25; Jun 29, 2026 $0.25; Jul 30, 2026 $0.24; Aug 28, 2026 $0.24; Sep 29, 2026 $0.23; Oct 29, 2026 $0.23. Use the arrow keys to read each point.$0$0.5020232026YTD
TLTWMonthly · 45 paymentsAll TLTW payments⁠
One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 2, 2023 $0.46; Mar 2, 2023 $0.31; Apr 4, 2023 $0.65; May 2, 2023 $0.53; Jun 2, 2023 $0.35; Jul 5, 2023 $0.54; Aug 2, 2023 $0.20; Sep 5, 2023 $0.33; Oct 3, 2023 $0.29; Nov 2, 2023 $0.40; Dec 4, 2023 $0.58; Dec 22, 2023 $0.75; Feb 2, 2024 $0.21; Mar 4, 2024 $0.30; Apr 2, 2024 $0.24; May 2, 2024 $0.25; Jun 4, 2024 $0.25; Jul 2, 2024 $0.28; Aug 2, 2024 $0.22; Sep 4, 2024 $0.28; Oct 2, 2024 $0.21; Nov 4, 2024 $0.25; Dec 3, 2024 $0.33; Dec 20, 2024 $0.59; Feb 4, 2025 $0.39; Mar 4, 2025 $0.26; Apr 2, 2025 $0.26; May 2, 2025 $0.37; Jun 3, 2025 $0.42; Jul 2, 2025 $0.31; Aug 4, 2025 $0.23; Sep 3, 2025 $0.22; Oct 2, 2025 $0.14; Nov 4, 2025 $0.38; Dec 2, 2025 $0.19; Dec 23, 2025 $0.19; Feb 3, 2026 $0.17; Mar 3, 2026 $0.20; Apr 2, 2026 $0.21; May 4, 2026 $0.12; Jun 2, 2026 $0.22; Jul 2, 2026 $0.13; Aug 4, 2026 $0.15; Sep 2, 2026 $0.13; Oct 2, 2026 $0.29. Use the arrow keys to read each point.$0$0.5020232026YTD

LQDM vs TLTW Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
LQDM No dataTLTW 10.0%
Return per unit of riskSharpe ratio, 3 years
LQDM No dataTLTW 0.14
Worst fallMax drawdown, 5 years
LQDM No dataTLTW −18.6%since Aug 2022
Market sensitivityBeta, 5 years
LQDM 0.23TLTW 1.68

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