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TLTINEOS Enhanced Income 20+ Year Treasury Bond ETF

Get income1y track recordRanked #1,285 of 1,650 in this goal

Seeks to generate monthly income in a tax efficient manner.

By Neos Funds · Launched 2024

Annual Cost

0.58%

#3,048 of 5,861 · average

Fund Size

$16M

#4,633 of 5,861 · small

Dividend YieldGoal

6.21%

Track Record

1 year

#3,903 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$10,065+0.7%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Option income

What it actually holds

By weight

Concentration

Top 9 holdings = 99.5% of fundconcentrated

United States Treasury Note/Bond
97.0%
First American Treasury Obliga
1.7%
Northern US Government Money M
0.8%
N/ASPXW 4 P5900
0.0%
N/ASPXW 4 P5875
0.0%
N/ASPXW 4 P5800
0.0%
N/ASPXW 4 P6050
-0.0%
N/ASPXW 4 P6125
-0.0%
N/ASPXW 4 P6175
-0.1%

Asset allocation

Bonds
96.8%
Other
1.7%
Cash
1.7%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
9.1%Low

Year-on-year price swings

Max drawdown
-8.7%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to generate monthly income in a tax efficient manner.
Strategy
Actively manages a portfolio primarily invested in U.S. Treasury securities with maturities of 20+ years and employs a strategy of selling and purchasing S&P 500® Index put options to generate additional income. Focuses on tax-efficient returns through Section 1256 Contracts and may engage in active trading to capture gains.
Inception date
December 10, 2024
Fund family
Neos Funds

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Warning

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04