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1D
1W
1M
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YTD
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5Y
ALL
AUM
$1.78B
P/E ratio
--
Dividend yield
10.9272%
Expense ratio
0.35%
Beta
0.457147
Previous close
$21.09
Today's open
$21.05
Day's range
$21.00 - $21.06
52 week range
$20.77 - $24.08
show more
Headquarters
US
Exchange
CBOE Global Markets BZX
Issue type
Exchange-Traded Fund
Bonds
Domestic
99.87%
0.16%
TLTW: Mandate Change Prompts A Downgrade
iShares 20+ Year Treasury Bond BuyWrite Strat ETF (TLTW) will change its mandate and name to 'iShares TLT Premium Income+ ETF' in October 2026. TLTW will shift from a rate-hedged covered call strategy to a pure income extraction tool, mirroring TLT's total return profile. With the new structure, TLTW will no longer provide rate hedging, making its performance directly tied to long-term Treasury rates.
Seeking Alpha • Sep 18, 2026

After Comparing Every Bond ETF Paying Over 6 Percent, These 3 Win as the Fed Cuts Rates
The Federal Reserve has taken its target rate from 4.5% to 3.75% over the past year, and reinvestment risk has arrived for anyone in money market funds.
24/7 Wall Street • Aug 17, 2026

Most Income Investors Have Never Heard of These 3 Bond ETFs Paying Over 10 Percent Monthly
Three little-known exchange-traded funds from BlackRock's iShares lineup distribute double-digit annual yields to shareholders monthly.
24/7 Wall Street • Aug 1, 2026

TLTW: Covered Call Long-Term Treasury ETF, Too Risky On The Eve Of A Hiking Cycle
iShares 20+ Year Treasury Bond Buywrite Strategy ETF is a covered call long-term treasury ETF. The fund's covered calls boost its distribution yield to 11.2%, while capping upside potential. Downside remains unchanged, and for a long-term treasury ETF, rate downside is sky-high. Avoiding the fund while rate hikes are a possibility seems wise.
Seeking Alpha • Jul 30, 2026

TLTW: A Hefty Yield And Margin Of Safety Against Rising Rates
The iShares 20+ Year Treasury BuyWrite Strategy ETF is rated a strong buy, offering attractive yield and downside protection versus traditional long-duration Treasury ETFs. TLTW's covered call strategy enhances income and cushions against rising yields, outperforming AGG and BND on a total return basis since July 2024. Current long-term Treasury yields provide a much healthier margin of safety than in 2021, with breakeven yield now nearly four times higher.
Seeking Alpha • Jul 8, 2026

Long Bonds Just Lost Money for a Sixth Straight Year, And One Quiet ETF Is Engineered for the Reversal
Prior to the start of the Iran War, President Donald Trump had been feuding with Jerome Powell about cutting interest rates.
24/7 Wall Street • Jun 16, 2026

2 Monthly Dividend ETFs Set to Surge if There's a Rate Hike in 2026
The past two months have changed the calculus significantly for interest rate cuts this year, and we could even be looking at interest rate hikes.
24/7 Wall Street • Apr 23, 2026

Something Unusual Is Happening Around TLTW That You Need To Know
iShares 20+ Year Treasury Bond BuyWrite Strategy ETF is rated HOLD due to increased market uncertainty and capped upside potential. TLTW's buy-write structure limits gains to 2% monthly, making it (IMO) less attractive if TLT rallies sharply amid changing macro conditions. Current low implied volatility and shifting inflation expectations reduce (IMO) the competitiveness of option premiums at monthly roll.
Seeking Alpha • Apr 22, 2026

3 Dividend ETFs That Can Replace a Pension in 2026
Social Security pays retirees $2,000 a month on average, and private tuitions are even lower than that.
24/7 Wall Street • Mar 19, 2026

3 Dividend ETFs That Yield Over 9% and Are Actually Worth Buying
If you have a long-term focus and you also want high yields, it's a good idea to look into the ProShares Russell 2000 High Income ETF (BATS:ITWO), iShares 20+ Year Treasury Bond BuyWrite Strat ETF (BATS:TLTW), and Westwood Salient Enhanced Midstream Income ETF (NYSE:MDST).
24/7 Wall Street • Feb 2, 2026

¹ Disclosures

Open an M1 investment account to buy and sell iShares 20+ Year Treasury Bond BuyWrite Strategy ETF commission-free¹. Build wealth for the long term using automated trading and transfers.