Fixed Income

TLTW

iShares 20+ Year Treasury Bond BuyWrite Strategy ETF

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  • NAV as of Mar 26, 2025 $23.65
    52 WK: 23.01 - 27.37
  • 1 Day NAV Change as of Mar 26, 2025 -0.14 (-0.60%)
  • NAV Total Return as of Mar 25, 2025 YTD: 3.96%
  • Fees as stated in the prospectus Expense Ratio: 0.35%

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Chart
Line chart with 653 data points.
The chart has 1 X axis displaying Time. Range: 2022-08-18 00:00:00 to 2025-03-26 00:00:00.
The chart has 1 Y axis displaying values. Range: -20 to 0.
YTD6M1Y3Y5Y10YAll
End of interactive chart.
The Hypothetical Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Distributions

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Premium/Discount

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  1y 3y 5y 10y Incept.
Total Return (%) -2.12 - - - -5.97
Market Price (%) -2.22 - - - -5.98
Benchmark (%) -1.12 - - - -5.19
After Tax Pre-Liq. (%) -2.66 - - - -9.98
After Tax Post-Liq. (%) -1.25 - - - -6.01
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) -2.12 -3.89 -7.87 -0.19 -2.12 - - - -13.59
Market Price (%) -2.22 -3.83 -7.91 -0.28 -2.22 - - - -13.61
Benchmark (%) -1.12 -3.81 -7.59 0.45 -1.12 - - - -11.85
After Tax Pre-Liq. (%) -2.66 -4.31 -8.38 -0.75 -2.66 - - - -22.07
After Tax Post-Liq. (%) -1.25 -2.30 -4.65 -0.10 -1.25 - - - -13.68
  2020 2021 2022 2023 2024
Total Return (%) - - - 0.75 -2.12
Market Price (%) - - - 0.76 -2.22
Benchmark (%) - - - 1.40 -1.12
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

iSHARES MARKET INSIGHT

3 ways bond buy-write ETFs can benefit your portfolio

Learn about buy-write strategies and how they can potentially add income and diversification to your bond portfolios.

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Key Facts

Key Facts

Net Assets of Fund
as of Mar 26, 2025
$1,129,419,075
Exchange
Cboe BZX
Benchmark Index
CBOE TLT 2% OTM Buywrite Index (USD)
Shares Outstanding
as of Mar 26, 2025
47,750,000
Premium/Discount
as of Mar 26, 2025
0.12
Closing Price
as of Mar 26, 2025
23.68
30 Day Median Bid/Ask Spread
as of Mar 26, 2025
0.04%
Fund Inception
Aug 18, 2022
Asset Class
Fixed Income
Bloomberg Index Ticker
BXTBW
Distribution Frequency
Monthly
CUSIP
46436E338
30 Day Avg. Volume
as of Mar 26, 2025
808,332.00
Daily Volume
as of Mar 26, 2025
646,553.00

Click here to see how this fund compares to the underlying fund referenced in the Investment Objective above.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Mar 26, 2025
1
30 Day SEC Yield
as of Mar 25, 2025
4.07%
Standard Deviation (3y)
as of -
-
Average Yield to Maturity
as of Mar 26, 2025
4.78%
Weighted Avg Maturity
as of Mar 26, 2025
25.48 yrs
Convexity
as of Mar 26, 2025
-11.21
Equity Beta (3y)
as of -
-
12m Trailing Yield
as of Mar 25, 2025
3.75%
Modified Duration to Worst
as of Mar 26, 2025
16.06
Weighted Avg Coupon
as of -
-
Effective Duration
as of Mar 26, 2025
15.88 yrs
Distribution Yield
as of Mar 26, 2025
13.13%
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Management Fee 0.20%
Acquired Fund Fees and Expenses 0.15%
Other Expenses 0.00%
Expense Ratio 0.35%

The amounts shown above are as of the current prospectus, but may not include extraordinary expenses incurred by the Fund over the past fiscal year. Amounts are rounded to the nearest basis point, which in some cases may be "0.00".

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective Feb 28, 2025)
Analyst-Driven % as of Feb 28, 2025
20.00
Data Coverage % as of Feb 28, 2025
79.00

Holdings

Holdings

Detailed Holdings and Analytics
Holdings are subject to change.

For options contracts held within the fund, the maturity date represents the expiration date of the contract.


The values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of systematic fair valuation (“the vendor price”). The vendor price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). Holdings data shown reflects the investment book of record, which may differ from the accounting book of record used for the purposes of determining the Net Assets of the Fund. Additionally, where applicable, foreign currency exchange rates with respect to the portfolio holdings denominated in non-U.S. currencies for the valuation price will be generally determined as of the close of business on the New York Stock Exchange, whereas for the vendor price will be generally determined as of 4 p.m. London. The calculated values may have been different if the valuation price were to have been used to calculate such values. The vendor price is as of the most recent date for which a price is available and may not necessarily be as of the date shown above.

Please see the “Determination of Net Asset Value” section of each Fund’s prospectus for additional information on the Fund’s valuation policies and procedures.

Exposure Breakdowns

Exposure Breakdowns

as of Mar 26, 2025

% of Market Value

as of Mar 26, 2025

% of Market Value

The maturity breakdown above is based on Weighted Average Life (WAL). WAL is the average length of time to the repayment of principal for the securities in the fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date.

as of Mar 26, 2025

% of Market Value

Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security, the lower of the two ratings if only two agencies rate a security, and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.
Allocations are subject to change.

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

Any links to third-party websites are provided for use at your own discretion. Each third party is solely responsible for the content presented and availability of its website. BlackRock does not control, monitor or maintain third-party websites, their content or the products/services they offer. Content may change without notice. When you leave BlackRock’s website and enter a third-party website, you will be subject to that site’s terms, policies and/or notices, including those related to privacy and security, as applicable. Please review those policies and notices on the third-party website.

Before engaging Fidelity or any broker-dealer, you should evaluate the overall fees and charges of the firm as well as the services provided. Free commission offer applies to online purchases of select iShares ETFs in a Fidelity account. The sale of ETFs is subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). For iShares ETFs, Fidelity receives compensation from the ETF sponsor and/or its affiliates in connection with an exclusive long-term marketing program that includes promotion of iShares ETFs and inclusion of iShares funds in certain Fidelity Brokerage Services platforms and investment programs. Please note, this security will not be marginable for 30 days from the settlement date, at which time it will automatically become eligible for margin collateral. Additional information about the sources, amounts, and terms of compensation can be found in the ETF’s prospectus and related documents. Fidelity may add or waive commissions on ETFs without prior notice.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

©2024 BlackRock, Inc or its affiliates. All Rights Reserved. BLACKROCK, iSHARES, iBONDS, LIFEPATH, ALADDIN and the iShares Core Graphic are trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

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