TLTW Total Return Analyzer

TLTW total return combines two components: the cumulative distributions you received from TLTW over the holding period, and the change in NAV (share price) across the same window. Many high-yield funds advertise distribution rates that look spectacular in isolation but mask meaningful NAV erosion. The analyzer above shows exactly how much of your TLTW return came from distributions versus price change — a 50% annualized distribution rate paired with a 30% NAV decline is a very different investment than a 50% distribution with flat NAV.

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (TLTW) is issued by iShares. Fund-of-fund — holds TLT (20+ year Treasury ETF) and writes one-month out-of-the-money covered calls against it monthly. Monthly distributions, forward yield ~13-14% (much higher than TLT's ~4.8% SEC yield) but with the same long-duration rate risk as TLT itself. Caps bond upside during rate rallies in exchange for option-premium income. That strategy directly shapes the gap between headline yield and real yield: option-premium and covered-call funds tend to show large gaps, while traditional dividend ETFs and index funds usually show small ones.

For the detail behind each payment, see the TLTW dividend history. To project how future TLTW distributions compound under DRIP, open the TLTW dividend calculator.