SPTL vs TLTW
State Street SPDR Portfolio Long Term Treasury ETF compared with iShares 20+ Year Treasury Bond Buywrite Strategy ETF on yield, payout growth, payment schedule, cost and risk.
SPTL
State Street SPDR Portfolio Long Term Treasury ETF
TTM yield · Monthly
TLTW
iShares 20+ Year Treasury Bond Buywrite Strategy ETF
TTM yield · Monthly
Quick take
- TLTW yields more today: 9.74% vs 4.36% (forward).
- SPTL has grown its payout faster: 7.0%/yr vs -26.5%/yr over the last 3 years.
- Both pay every month.
- SPTL has the longer streak of annual increases: 5 years vs 0.
- Over the last year TLTW delivered the higher total return: +2.8% vs -0.1% (price change plus payouts).
- SPTL is cheaper to own: 0.03% vs 0.35% expense ratio.
- SPTL has the steadier distribution: consistency 97/100 vs 65/100.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | SPTL | TLTW |
|---|---|---|
| Share price | $25.11 | $21.20 |
| TTM yield | 4.36% | 10.58% |
| Forward yield | 4.36% | 9.74% |
| Annual payout per share | $1.096 | $2.064 |
| Payment frequency | Monthly | Monthly |
| Next ex-date | Oct 1, 2026 (est.) | Oct 2, 2026 (est.) |
| Expense ratio | 0.03% | 0.35% |
| 1-year payout growth | +1.4% | -41.7% |
| 5-year payout CAGR | +9.4% | — |
| Consecutive years of increases | 5 years | 0 years |
| Payout consistency (last 12) | 97/100 | 65/100 |
| 1-year total return | -0.1% | +2.8% |
| 1-year price return | -4.2% | -7.1% |
| Size (market cap / AUM) | 11.1B | 1.8B |
| Years paying | 19.2 | 4.0 |
| Sector / category | Long Government | Long Government |
✓ marks the more favourable figure where one exists (higher yield, growth, streak, consistency, return and size; lower cost, payout ratio and risk).
$10,000 invested today
| SPTL | TLTW | |
|---|---|---|
| Shares | 398.2 | 471.7 |
| Income per year | $436 | $974 |
| Income per month (avg) | $36 | $81 |
At forward yields, before taxes. Model SPTL · Model TLTW
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| SPTL Oct 1, 2026 | Oct 15, 2026 | $0.0913 | Est. |
| SPTL Oct 31, 2026 | Nov 14, 2026 | $0.0913 | Est. |
| SPTL Nov 30, 2026 | Dec 14, 2026 | $0.0913 | Est. |
| TLTW Oct 2, 2026 | Oct 16, 2026 | $0.172 | Est. |
| TLTW Nov 1, 2026 | Nov 15, 2026 | $0.172 | Est. |
| TLTW Dec 1, 2026 | Dec 15, 2026 | $0.172 | Est. |
Annual payouts per share
SPTLTLTW
Regular payments only; the current year is year to date. Per-share amounts are not directly comparable when share prices differ, so read this chart for growth trends.
FAQ
Which has the higher dividend yield, SPTL or TLTW?
TLTW currently has the higher trailing yield: SPTL yields 4.36% and TLTW yields 10.58%. Yield changes daily with price, so check the live figures above.
How often do SPTL and TLTW pay?
SPTL pays every month and TLTW pays every month. SPTL's next ex-date is Oct 1, 2026 and TLTW's is Oct 2, 2026.
Which has grown its dividend faster, SPTL or TLTW?
SPTL has grown its payout faster: 7.0%/yr vs -26.5%/yr over the last 3 years.
Is SPTL or TLTW better for income?
It depends on what you are optimising for. SPTL and TLTW differ in yield, growth, payment schedule and risk profile; the table above puts every metric side by side so you can weigh them for your own goals. This page is data, not advice.