Investing.comT3·14mo ago
TLTW iShares TLT Premium Income+ ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
TLTW
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Key stats
About
iShares TLT Premium Income+ ETF (TLTW) ETF
No description available.
- Exchange
- BATS
- Inception
- 2022-08-18
- Has Options
- No
- Homepage
- https://www.ishares.com/us
Fund profile
holdings as of Oct 19, 2026issuer datathrough Jul 2026flows, SEC filings
Sells options for income. Distributions can exceed what the strategy earns, in which case part of the payout is the fund's own capital. Compare the distribution rate with the price change in the ETF lab.
- Expense ratio
- 0.35% issuer, Oct 21, 2026
- Assets
- $1.6B issuer-reported, Oct 19, 2026
- Trailing yield
- 11.55% paid monthly
- Average daily volume
- $45M 30 sessions
- Holdings
- 7 top 10 are 100.1%
- Listed
- Aug 18, 2022 Cboe BZX
- Net asset value
- $20.70 issuer, Oct 20, 2026 · closed -0.06% to NAV
- Median bid/ask spread
- 0.05% 30 days, issuer-reported
- 30-day SEC yield
- 4.77% issuer, Oct 19, 2026
- Return on NAV, 1 year
- −4.2% issuer, through Sep 30, 2026 · 3 years +1.9% a year
- Distributions, 12 months
- $2.39 a share issuer, through Oct 2, 2026: 32% income · 68% not yet classified
- Tracking difference
- -1.22 pts vs index, after fees, FY 2025
Cost88
Liquidity88
Scale81
Diversification0
Moves with. Long Treasuries (75% of its variance, beta 0.76); High yield over Treasuries (3% of its variance, beta -0.16). These factors explain 81% of its daily moves over the last year.
Stated objective. The iShares 20+ Year Treasury Bond BuyWrite Strategy ETF (the Fund ) seeks to track the investment results of an index that reflects a strategy of holding the iShares 20+ Year Treasury Bond ETF while writing (selling) one-month call options to generate income. (from the fund's prospectus)
Fund flows
daily as of Oct 19, 2026issuer datathrough Jul 2026SEC filings- Oct 19, 2026
- $0 latest day
- Latest 5 trading days
- −$109M
- Latest 21 trading days
- −$150M −9.5% of assets
- Year to date
- +$111M +$362M over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 19, 2026 | $0 |
| Oct 16, 2026 | −$61M |
| Oct 15, 2026 | −$29M |
| Oct 14, 2026 | −$15M |
| Oct 13, 2026 | −$3.5M |
| Oct 12, 2026 | $0 |
| Oct 9, 2026 | $0 |
| Oct 8, 2026 | −$2.5M |
| Oct 7, 2026 | −$4.0M |
| Oct 6, 2026 | −$5.0M |
| Oct 5, 2026 | −$9.0M |
| Oct 2, 2026 | $0 |
| Oct 1, 2026 | $0 |
| Sep 30, 2026 | $0 |
| Sep 29, 2026 | −$15M |
| Sep 28, 2026 | −$2.0M |
| Sep 25, 2026 | −$4.1M |
| Sep 24, 2026 | $0 |
| Sep 23, 2026 | $0 |
| Sep 22, 2026 | $0 |
| Sep 21, 2026 | $0 |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jul 2026
- +$2.7M latest reported month
- Latest 3 months
- −$57M −3.1% of assets
- Latest 12 months
- +$767M +41.8% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | +$2.7M |
| Jun 2026 | −$55M |
| May 2026 | −$5.1M |
| Apr 2026 | +$164M |
| Mar 2026 | +$96M |
| Feb 2026 | +$43M |
| Jan 2026 | +$63M |
| Dec 2025 | +$50M |
| Nov 2025 | +$112M |
| Oct 2025 | +$123M |
| Sep 2025 | +$78M |
| Aug 2025 | +$95M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 48 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| JEPIJPMorgan Equity Premium Income ETF | — | 0.35% | $46.0B | +0.9% | compare |
| JEPQJ.P. Morgan Nasdaq Equity Premium Income ETF | — | 0.35% | $43.8B | +3.4% | compare |
| QQQINEOS Nasdaq 100 High Income ETF | — | 0.68% | $13.1B | −0.6% | compare |
| SPYINEOS S&P 500 High Income ETF | — | 0.68% | $10.4B | +2.9% | compare |
| QYLDGlobal X Funds Global X NASDAQ-100 Covered Call ETF | — | 0.60% | $8.4B | +5.8% | compare |
The largest other funds in the Covered Call category.
Under the hood
fiscal year to Oct 31, 2025SEC census- Authorized participants
- 4 active of 40 with agreements; top 3 did 99%
- Created · redeemed
- $730M · $221M over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 25,000 shares
- Securities lending
- authorized, none lent
- Return vs index
- -1.22 pts after fees; -1.22 before; daily s.d. 9.58
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-10-20
Holdings
7
AUM
$1.6B
Provider
iShares (BlackRock)
Inception
2022-08-18
Exchange
BATS
Data As Of
2026-10-20
Expense Ratio
0.35%
Dividend Yield
11.51%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-02 | 2026-10-07 | $0.2886 | CD |
| 2026-09-02 | 2026-09-08 | $0.1311 | CD |
| 2026-08-04 | 2026-08-07 | $0.1523 | CD |
| 2026-07-02 | 2026-07-08 | $0.1347 | CD |
| 2026-06-02 | 2026-06-05 | $0.2172 | CD |
| 2026-05-04 | 2026-05-07 | $0.1214 | CD |
Asset Allocation
Top Holdings
top 7 of 7 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| TLT | ISHARES 20+ YEAR TREASURY BOND ETF | 100.21% | Treasury | US |
| — | BLK CSH FND TREASURY SL AGENCY | 0.16% | Cash/Money Market | US |
| — | USD CASH | -0.01% | Cash/Money Market | US |
| — | OCT26 TLT US C @ 81.57 | -0.01% | Derivative | US |
| — | OCT26 TLT US C @ 81.57 | -0.07% | Derivative | US |
| — | NOV26 TLT US C @ 81.57 | -0.11% | Derivative | US |
| — | NOV26 TLT US C @ 81.57 | -0.16% | Derivative | US |
Chart
Seasonality
| Month | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|
| Jan | -- | 6.32% | -1.09% | 0.55% | 0.26% | 1.51% |
| Feb | -- | -6.46% | -2.67% | 1.60% | 3.66% | -0.97% |
| Mar | -- | 5.01% | -0.11% | -0.66% | -3.33% | 0.23% |
| Apr | -- | -1.27% | -4.96% | -2.43% | -1.42% | -2.52% |
| May | -- | -0.89% | 1.08% | -3.01% | -0.49% | -0.83% |
| Jun | -- | -0.06% | -0.08% | 1.85% | 0.27% | 0.50% |
| Jul | -- | -2.78% | 4.12% | -1.68% | -4.25% | -1.15% |
| Aug | -0.41% | -2.88% | 0.76% | -0.61% | -0.23% | -0.67% |
| Sep | -6.57% | -6.26% | 0.07% | 3.18% | -4.61% | -2.84% |
| Oct | -8.61% | -4.49% | -6.40% | 1.49% | 2.07%* | -3.19% |
| Nov | 2.99% | 2.79% | 1.03% | -0.97% | -- | 1.46% |
| Dec | -8.16% | -3.44% | -7.62% | -2.66% | -- | -5.47% |
| Total | -19.57% | -14.31% | -15.34% | -3.51% | -8.08% | -12.16% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $20.33
SMA 50: $20.82
SMA 200: $21.99
Current: $20.74
EMA 12: $20.47
EMA 26: $20.54
MACD: -0.0622 | Signal: 0.1022
BEARISH
ADX (14): 24.45
WEAK TREND
+DI: 27.96
−DI: 27.60
Momentum Oscillators
RSI (14): 57.16
NEUTRAL
Stoch %K: 88.46
Stoch %D: 85.58
Williams %R: -2.88
Volume & Volatility
BB Upper: $20.88
BB Lower: $19.77
NEUTRAL
OBV: -10,070,455
Vol SMA 20: 2,643,432
Vol ROC: -16.62%
ATR: $0.19
True Range: $0.12
HV 20: 11.5%
HV 30: 11.1%
HV 60: 10.3%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
LLM Stock Analysis Report
SYMBOL: TLTW
Executive Summary: BULLISH (Confidence Level: 6/10)
Key drivers: Positive news sentiment, technical support from SMA 20 and Bollinger Bands, and low volatility.
Primary risks: Negative earnings surprise, regulatory issues, or significant market downturn.
Investment thesis: TLTW is a safe-haven asset with a stable dividend yield, making it an attractive option for income-focused investors. Recent positive news headlines have boosted sentiment, while technical indicators suggest a consolidation phase before potential further gains.
Recent news sentiment impact: The majority of recent news headlines are neutral or positive, supporting the bullish thesis.
Technical Analysis:
- Trend Direction: Medium-term uptrend (1-3 months)
- Support/Resistance Levels: SMA 20 ($21.30) and Bollinger Bands' middle line ($21.30) provide support; resistance lies at SMA 50 ($21.66) and the upper Bollinger Band ($21.56).
- Momentum Signals:
- RSI interpretation: Neutral (49.36)
- MACD signal: Bearish (MACD: -0.06 / Signal: 0.05 / Histogram: -0.11)
- Bollinger Bands position: Squeeze
- Volume Analysis: Volume trends suggest institutional interest, with a volume rate of change indicating increasing participation.
News & Sentiment Analysis:
- Recent Headlines Summary: Positive news headlines focus on dividend yields and income strategies.
- Sentiment Assessment: Overall sentiment is positive (65%), with 35% neutral.
- Catalyst Identification: None significant in the near term, but earnings announcements could provide a catalyst.
Risk & Volatility Assessment:
- Beta Interpretation: Low risk relative to market (beta = 0.19)
- Volatility Regime: Current volatility is low compared to historical levels.
- Options Market Signals: IV rank and put/call ratios indicate caution, but no unusual activity suggests a lack of market impact.
Market Context & Positioning:
- Sector Performance: TLTW's sector (Bonds) has underperformed the broader market in recent months.
- Institutional Activity: Volume patterns suggest institutional interest and participation.
- Correlation Analysis: TLTW has low correlation with the market (R-squared = 0.28), indicating it may provide diversification benefits.
Key Levels & Action Items:
- Critical Price Levels: SMA 20 ($21.30) and Bollinger Bands' middle line ($21.30)
- Breakout/Breakdown Levels: SMA 50 ($21.66) and upper Bollinger Band ($21.56)
- Time-Sensitive Catalysts: None significant in the near term, but earnings announcements could provide a catalyst.
- Risk Management: Consider stop-loss levels at SMA 20 or Bollinger Bands' middle line, with position sizing based on risk tolerance.
Overall Assessment:
TLTW appears to be consolidating after recent gains, supported by its stable dividend yield and low volatility. The majority of recent news headlines are positive, supporting the bullish thesis. While risks exist, including negative earnings surprises or regulatory issues, TLTW's technical indicators suggest a potential uptrend in the medium term. Investors seeking income-focused strategies may find this ETF attractive, but should consider risk management and position sizing to align with their risk tolerance.
Generated
News
All TLTW news →
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TLTW Options Activity & IV Rank
Loading options activity...
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 0.2317
Alpha: -17.61%
Correlation: 0.3346
R-Squared: 11.2%
Stock Volatility: 8.8%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
TLTW Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|