AMDW vs. HBTA

Last updated Aug 2, 2026

AMDW (Roundhill AMD WeeklyPay ETF) and HBTA (Horizon Expedition Plus ETF) are both Derivative Income funds. Both are actively managed. Over the past year, AMDW returned 209.29% vs 22.99% for HBTA. Their 0.63 correlation means they have sometimes moved together and sometimes differently. AMDW charges 0.99%/yr vs 0.85%/yr for HBTA.

Performance

AMDW vs. HBTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill AMD WeeklyPay ETF (AMDW) and Horizon Expedition Plus ETF (HBTA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMDW achieves a 146.74% return, which is significantly higher than HBTA's 8.04% return.

AMDW

• 1D: -2.02%
• 1M: -10.13%
• 6M: 119.90%
• YTD: 146.74%
• 1Y: 209.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 229.60%

HBTA

• 1D: 1.69%
• 1M: -2.61%
• 6M: 6.83%
• YTD: 8.04%
• 1Y: 22.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMDW Roundhill AMD WeeklyPay ETF	$10.26M	$9.58M	$8.51M
HBTA Horizon Expedition Plus ETF	$6.08M	$3.31M	$2.78M

AMDW vs. HBTA - Yearly Performance Comparison

	2026 (YTD)	2025
AMDW Roundhill AMD WeeklyPay ETF	146.74%	36.56%
HBTA Horizon Expedition Plus ETF	8.04%	11.91%

Correlation

The correlation between AMDW and HBTA is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.64
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.63

The correlation between AMDW and HBTA has been stable across timeframes, ranging from 0.63 to 0.64 - a consistent structural relationship.

Return for Risk

AMDW vs. HBTA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AMDW

AMDW Risk / Return Rank: 88
AMDW Sharpe Ratio Rank: 92
AMDW Sortino Ratio Rank: 87
AMDW Omega Ratio Rank: 84
AMDW Calmar Ratio Rank: 96
AMDW Martin Ratio Rank: 84

HBTA

HBTA Risk / Return Rank: 42
HBTA Sharpe Ratio Rank: 40
HBTA Sortino Ratio Rank: 39
HBTA Omega Ratio Rank: 38
HBTA Calmar Ratio Rank: 42
HBTA Martin Ratio Rank: 50

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AMDW vs. HBTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill AMD WeeklyPay ETF (AMDW) and Horizon Expedition Plus ETF (HBTA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AMDW	HBTA	Difference
Sharpe ratio: Return per unit of total volatility	2.36	0.99	+1.37
Sortino ratio: Return per unit of downside risk	2.92	1.48	+1.45
Omega ratio: Gain probability vs. loss probability	1.36	1.18	+0.18
Calmar ratio: Return relative to maximum drawdown	5.83	1.50	+4.33
Martin ratio: Return relative to average drawdown	11.47	5.90	+5.57

AMDW vs. HBTA - Sharpe Ratio Comparison

The current AMDW Sharpe Ratio is 2.36, which is higher than the HBTA Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of AMDW and HBTA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMDW vs. HBTA - Drawdown Comparison

The maximum AMDW drawdown since its inception was -34.64%, which is greater than HBTA's maximum drawdown of -26.73%. Use the drawdown chart below to compare losses from any high point for AMDW and HBTA.

Drawdown Indicators

	AMDW	HBTA	Difference
Max Drawdown Largest peak-to-trough decline	-34.64%	-26.73%	-7.91%
Max Drawdown (1Y) Largest decline over 1 year	-34.64%	-13.18%	-21.46%
Current Drawdown Current decline from peak	-21.39%	-5.92%	-15.47%
Average Drawdown Average peak-to-trough decline	-13.97%	-4.19%	-9.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.59%	3.35%	+14.24%

Volatility

AMDW vs. HBTA - Volatility Comparison

Roundhill AMD WeeklyPay ETF (AMDW) has a higher volatility of 28.87% compared to Horizon Expedition Plus ETF (HBTA) at 8.35%. This indicates that AMDW's price experiences larger fluctuations and is considered to be riskier than HBTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMDW	HBTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.87%	8.35%	+20.52%
Volatility (6M) Calculated over the trailing 6-month period	67.40%	16.41%	+50.99%
Volatility (1Y) Calculated over the trailing 1-year period	85.70%	19.89%	+65.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.05%	25.15%	+59.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	85.05%	25.15%	+59.90%

AMDW vs. HBTA - Expense Ratio Comparison

AMDW has a 0.99% expense ratio, which is higher than HBTA's 0.85% expense ratio.

Dividends

AMDW vs. HBTA - Dividend Comparison

AMDW's dividend yield for the trailing twelve months is around 53.42%, more than HBTA's 0.59% yield.

Position	TTM	2025
AMDW Roundhill AMD WeeklyPay ETF	53.42%	34.78%
HBTA Horizon Expedition Plus ETF	0.59%	0.64%

Frequently Asked Questions

Can I hold both AMDW and HBTA in my portfolio?

AMDW and HBTA have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMDW or HBTA?

AMDW has higher volatility (28.87%) compared to HBTA (8.35%). In terms of maximum drawdown, AMDW dropped -34.64% vs HBTA's -26.73%.

Which ETF is better, AMDW or HBTA?

On 1-year performance, AMDW leads with 209.29% vs 22.99% for HBTA. On fees, HBTA is cheaper at 0.85% per year. On volatility, HBTA has been the lower-risk option at 8.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMDW or HBTA?

Over the 1-year period, AMDW has performed better with a 209.29% return vs 22.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMDW or HBTA?

HBTA is cheaper with a 0.85% expense ratio, compared with 0.99% for AMDW.

Which ETF pays a higher dividend yield, AMDW or HBTA?

AMDW has the higher dividend yield at 53.42%, compared with 0.59% for HBTA.

What is the main difference between AMDW and HBTA?

They also come from different issuers: Roundhill and Horizon. Their fees differ too: 0.99% for AMDW and 0.85% for HBTA.

Which has better risk-adjusted returns?

AMDW currently has the higher Sharpe Ratio (2.36 vs 0.99), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.