iShares 20+ Year Treasury Bond BuyWrite Strategy ETF

TLTW

Market cap $1.37B

Overview Fund Activity

23.28 USD

+0.01

0.04%

At close Updated Sep 12, 4:00 PM EDT

Pre-market

After hours

23.26

-0.02

0.09%

1 day

0.04%

5 days

0.74%

1 month

2.11%

3 months

2.24%

6 months

-2.47%

Year to date

-1.31%

1 year

-14.6%

5 years

-41.08%

10 years

-41.08%

0

Funds holding %

of 7,462 funds

–

Analysts bullish %

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

42% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 12

24% more repeat investments, than reductions

Existing positions increased: 36 | Existing positions reduced: 29

6% more funds holding

Funds holding: 83 [Q1] → 88 (+5) [Q2]

2.57% less ownership

Funds ownership: 24.21% [Q1] → 21.63% (-2.57%) [Q2]

12% less capital invested

Capital invested by funds: $281M [Q1] → $246M (-$34.8M) [Q2]

50% less funds holding in top 10

Funds holding in top 10: 2 [Q1] → 1 (-1) [Q2]

See Fund Rankings

Financial journalist opinion

31 Ideal 'Safer' Monthly Paying September Dividend Stocks And 80 Funds

Imagine stocks and funds paying you dividends monthly! Your angst awaiting dividend payout is reduced 300%, or more, compared to quarterly, semi-annual, or (ugh) annual doles! September U.S. exchange-traded-monthly-paid (MoPay) dividends, upsides, and net-gains include: 1. Stocks-by-yield (77); 2. Stocks-by price-upside (30); 3. Closed-End-Investments, Exchange-Traded-Funds & Notes (CEICs/ETFs/ETNs) by-yield >10% (80); 4. ‘Safer' Ideal-Dividend-Equities by Cash Flow Margins (31). Items: 1. Top MoPay stock gains; 2. Overall best MoPay gainers; 3. Funds vs. Equities; 4. Fund risks/rewards. 5. Safer Equity Rankings All per prices as of 8/29/25.

31 Ideal 'Safer' Monthly Paying September Dividend Stocks And 80 Funds

A Terrific 12.2% Monthly Dividend From US Treasuries

Let's talk about a terrific 12.2% dividend that is paid monthly.

A Terrific 12.2% Monthly Dividend From US Treasuries

TLTW: Deteriorating Jobs Data Quality Supports A Dovish Pivot

Recent BLS jobs data revisions and declining survey response rates increase labor market uncertainty, supporting a dovish Fed pivot and potential rate cuts in September. A sharp rally in long-term Treasuries ahead of the Fed meeting could disadvantage TLTW's covered call strategy, capping its upside versus TLT. Given the current environment, I recommend holding a mix of TLT and TLTW to balance premium income with potential for price appreciation.

TLTW: Deteriorating Jobs Data Quality Supports A Dovish Pivot

TLTW: Covered Call Treasury ETF, Strong Distributions And Momentum, Favorable Market Conditions

TLTW invests in long-term treasuries and writes covered calls on its holdings. TLTW's strategy results in a sky-high 17.3% distribution yield, but also consistent distribution cuts and declining prices. Current market conditions favor the fund, as broadly stable interest rates minimize price losses while distributions remain high.

TLTW: Covered Call Treasury ETF, Strong Distributions And Momentum, Favorable Market Conditions

TLTW: Attractive As A Short-To-Medium Term Hedge Against Rising Yields

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF is attractive as a short-to-medium term hedge against rising yields, but maybe not suitable for a long-term buy & hold strategy. Current macro conditions could continue to favor TLTW's income strategy over TLT for now. But if we extend the investment horizon to TLT's duration, how much return will be eroded by selling a 2% OTM call with monthly rolling?

TLTW: Attractive As A Short-To-Medium Term Hedge Against Rising Yields

31 June Ideal 'Safer' Monthly Paying Dividend Stocks And 80 Funds

June U.S. exchange-traded monthly paid (MoPay) dividends, upsides, and net-gains include: 1. Stocks-by-yield (80); 2. Stocks-by-price-upside (30); 3. Closed-End-Investments, Exchange-Traded-Funds & Notes (CEICs/ETFs/ETNs) by yield >10% (80); 4. ‘Safer' Ideal-Dividend-Equities by Cash-Flow-Margins. Analyst estimates suggest top MoPay stocks could net 16.48% to 33.67% gains by June 2026, with an average net gain of 23.57% and higher-than-market risk. The dogcatcher rule highlights 31 'safer' MoPay stocks where dividends from $1K invested exceed share price, positive returns, and strong free cash flow coverage.

31 June Ideal 'Safer' Monthly Paying Dividend Stocks And 80 Funds

TLTW Has Delivered Great Results, But Risks Are Rising

TLTW's buy-write strategy has outperformed as 20+ year yields remained stable, supporting income generation. The current macro environment is stable, with low recession odds, steady unemployment, and little reason to expect sudden Fed rate cuts. The Fund's rolling option strategy faces technical risk as it operates during a bearish overstretch in 20+ year Treasury yields, increasing the risk of underperformance.

TLTW Has Delivered Great Results, But Risks Are Rising

TLTW: A Sharp Rally In Bonds Is A Risk (Double Rating Downgrade)

I am downgrading the iShares 20+ Year Treasury Bond BuyWrite Strategy ETF from Strong Buy to Hold due to rising risks of a significant rally in long-term Treasuries. TLTW employs a covered call strategy, which performs best in a sideways trading range but limits upside in strong rallies, making TLT a better option now. The recent sell-off in Treasuries appears driven by liquidity needs rather than fundamentals, suggesting the potential for a substantial recovery in TLT, which TLTW may underperform.

TLTW: A Sharp Rally In Bonds Is A Risk (Double Rating Downgrade)

TLTW: Investors Losing Confidence

President Trump's tariffs may spur inflation, prompting a hawkish Federal Reserve response, which could negatively impact long-term bonds like TLTW. The U.S. budget deficit may worsen due to Trump's tax cuts, increasing long-term default risk and reducing international demand for treasuries. Antagonizing major trading partners like China could further reduce demand for U.S. treasuries, making long-term bonds less attractive.

TLTW: Investors Losing Confidence

TLTW: Long Bonds Might Be Under Pressure For A While (Rating Upgrade)

Long-term Treasury bonds have experienced significant drawdowns due to rising yields, driven by concerns over increasing U.S. debt and persistent inflation. TLTW, a buy-write ETF that holds TLT and sells covered calls, offers downside protection and income generation, outperforming TLT during periods of rising yields and range bound markets. The recent decline in long-term yields is likely temporary, and yields are expected to rise again due to persistent inflation and the delayed effects of government spending cuts.

TLTW: Long Bonds Might Be Under Pressure For A While (Rating Upgrade)

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