If you want maximum headline income
→ TLTW
TLTW leads yield (~16.8%) and also leads 1Y total return — income without an obvious total-return penalty in this window.
Two income funds compared side-by-side using the available DivAgent snapshot. See which one fits your yield strategy.
8-second verdict · always free
If you want maximum headline income
→ TLTW
TLTW leads yield (~16.8%) and also leads 1Y total return — income without an obvious total-return penalty in this window.
If you want total return (paid + price)
→ TLTW
TLTW leads 1Y total return (~-3.8%) while also leading yield in this pair.
If you need sleep-at-night sizing
→ Neither alone
Both sit at Tier 4+ (elevated structural risk). Size inside a diversified sleeve with Tier 1–2 ballast.
TLTW and TMF currently combines a high annualized yield with a negative 1Y NAV change. That is a neutral screening signal, not evidence of how the distribution was funded. Review the reported total return and issuer documents.
When the edge flips — yield, total return, or NAV path — we email the updated tape. Plus the free Yield Trap cheat sheet: what high-yield funds actually paid vs what their prices did.
Path A · Still deciding
Related battlesMore TLTW and TMF matchups in the same decision space — different trade-offs.
Path B · Picked a side
Full ticker auditsDeep-dive TLTW or TMF: distribution history, risk tier, peer set.
Audit TMF →Path C · Want a system
Leaderboard & portfoliosSee how income funds rank by risk tier and matrix cell — then track holdings free.
What this means: TLTW is ratedTier 4 (Harvest)while TMF is ratedTier 5 (Octane).TLTW is structurally lower risk than TMF.
| Metric | TLTW | TMF |
|---|---|---|
| Total Return (1Y) | -3.77% | -32.98% |
| NAV Change (1Y) | -13.73% | -36.16% |
| Max Drawdown | -18.50% | -45.60% |
| Beta | 0.90 | 2.85 |
* Returns include dividend reinvestment. Drawdown calculates peak-to-trough decline over trailing 12 months.
TLTW (iShares 20+ Year Treasury Bond Buywrite Strategy ETF) is listed with iShares as provider. Reported index: 20+ Year Treasury. Reported holdings: 40. Reported assets under management: $2.0B.
Observed profile: DivAgent currently reports Tier 4, 16.77% annualized yield, -13.73% 1Y NAV change, and -3.77% 1Y total return. The tier is a risk classification; it does not by itself identify the fund's holdings or strategy.
TMF (Direxion Daily 20+ Year Treasury Bull 3X Shares) is listed with Direxion as provider. Reported index: 20+ Year Treasury (3x). Reported holdings: 40. Reported assets under management: $2.7B.
Observed profile: DivAgent currently reports Tier 5, 14.99% annualized yield, -36.16% 1Y NAV change, and -32.98% 1Y total return. The tier is a risk classification; it does not by itself identify the fund's holdings or strategy.
In the head-to-head battle of TLTW vs TMF, the choice depends on your specific goal. TLTW leads Immediate Income with a 16.77% yield. TLTW leads 1Y Total Return in the current data.
Compare the reported annualized yield, payout frequency, and DivAgent risk tier.
TLTW currently combines a 16.77% annualized yield with a -13.73% 1Y NAV change. That combination is a screening signal to review, not proof of how distributions were funded. Distribution composition requires separate source data that this comparison does not provide.
12-MONTH PERFORMANCE BREAKDOWN:
What the current data supports:
Interpretation: compare total return and NAV change with the headline yield, and verify distribution composition from fund documents before drawing a funding conclusion.
TMF currently combines a 14.99% annualized yield with a -36.16% 1Y NAV change. That combination is a screening signal to review, not proof of how distributions were funded. Distribution composition requires separate source data that this comparison does not provide.
12-MONTH PERFORMANCE BREAKDOWN:
What the current data supports:
Interpretation: compare total return and NAV change with the headline yield, and verify distribution composition from fund documents before drawing a funding conclusion.
The Bottom Line Question: If you invest $100,000 today, how much cash will you actually receive each month? Here's the exact math:
TLTW
Annual Yield: 16.77%
$1,397/mo
($16,770/year)
Frequency: monthly
TMF
Annual Yield: 14.99%
$1,250/mo
($14,995/year)
Frequency: quarterly
Income Gap: TLTW generates $1,775/year more than TMF on the same $100k investment.
Over 20 years, that's $35,503 in additional cash flow (before reinvestment).
Context Matters: Compare annualized yield with NAV change and total return rather than using the yield figure alone.
Historical data reveals how these funds behave during market stress. TLTW has the higher current 1Y total return at -3.77%.
What is Max Drawdown? Max drawdown measures the largest peak-to-trough decline in portfolio value during a specific period. Unlike NAV change (which only looks at start vs. end), max drawdown captures the worst moment of pain an investor experienced.
Illustrative $100,000 Position
TLTW (Smaller Reported Drawdown)
Max Drawdown: -18.50%
-$18,500
Illustrative peak-to-trough change
TMF (Larger Reported Drawdown)
Max Drawdown: -45.60%
-$45,600
Illustrative peak-to-trough change
Observed Difference: The reported drawdowns differ by an illustrative $27,100 on a $100k position.
A smaller historical drawdown is one risk observation, not a guarantee of future downside behavior or investor outcomes.
What is Beta? Beta measures how much a fund moves relative to the broader market. A beta of 1.0 means it moves in lockstep with the market. Higher beta = more volatility = more risk.
TLTW EFFICIENCY SCORE
18.63%
Beta: 0.90 | Yield: 16.77%
TMF EFFICIENCY SCORE
5.26%
Beta: 2.85 | Yield: 14.99%
Winner: TLTW generates 18.63% yield per unit of market risk, compared to TMF's 5.26%.
Practical Application: For defensive portfolios (retirees, conservative investors), TLTW delivers more income per "unit of stress." This makes it the superior choice for sleep-well-at-night income generation.
What is an Expense Ratio? The annual fee charged by the fund, expressed as a percentage of assets. It's deducted daily from the fund's NAV, making it invisible to most investors—but it compounds over time.
TLTW (LOWER COST)
0.350%
Annual expense ratio
TMF (HIGHER COST)
0.900%
Annual expense ratio
20-YEAR FEE IMPACT SIMULATION ($100,000 INITIAL INVESTMENT)
The Hidden Cost of "Just 0.55%": That seemingly small difference of 0.550% annually becomes $11,000 in lost wealth over 20 years. Factor in compound growth, and you're giving up ~$29,756 in potential portfolio value.
💡 Cost Efficiency Winner: TLTW is the clear winner for long-term buy-and-hold investors. Lower fees mean more capital compounds in YOUR account, not the fund manager's.