ARMW vs. TOPW

Last updated Jun 24, 2026

ARMW (Roundhill ARM WeeklyPay ETF) and TOPW (Roundhill Top WeeklyPay ETF) are both Derivative Income funds from Roundhill Investments. ARMW is actively managed, while TOPW is passively managed. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.99% expense ratio.

Performance

ARMW vs. TOPW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill ARM WeeklyPay ETF (ARMW) and Roundhill Top WeeklyPay ETF (TOPW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARMW achieves a 297.09% return, which is significantly higher than TOPW's -4.42% return.

ARMW

• 1D: -13.02%
• 1M: 22.00%
• YTD: 297.09%
• 6M: 286.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TOPW

• 1D: -2.57%
• 1M: -11.24%
• YTD: -4.42%
• 6M: -6.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ARMW vs. TOPW - Yearly Performance Comparison

	2026 (YTD)	2025
ARMW Roundhill ARM WeeklyPay ETF	297.09%	-41.28%
TOPW Roundhill Top WeeklyPay ETF	-4.42%	-9.73%

Correlation

The correlation between ARMW and TOPW is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025	0.51

Return for Risk

ARMW vs. TOPW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill ARM WeeklyPay ETF (ARMW) and Roundhill Top WeeklyPay ETF (TOPW). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

ARMW vs. TOPW - Drawdown Comparison

The maximum ARMW drawdown since its inception was -48.47%, which is greater than TOPW's maximum drawdown of -29.87%. Use the drawdown chart below to compare losses from any high point for ARMW and TOPW.

Drawdown Indicators

	ARMW	TOPW	Difference
Max Drawdown Largest peak-to-trough decline	-48.47%	-29.87%	-18.60%
Current Drawdown Current decline from peak	-20.08%	-20.15%	+0.07%
Average Drawdown Average peak-to-trough decline	-25.29%	-13.01%	-12.28%

Volatility

Volatility by Period

	ARMW	TOPW	Difference
Volatility (1Y) Calculated over the trailing 1-year period	94.74%	27.87%	+66.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.74%	27.87%	+66.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.74%	27.87%	+66.87%

ARMW vs. TOPW - Expense Ratio Comparison

Both ARMW and TOPW have an expense ratio of 0.99%.

Dividends

ARMW vs. TOPW - Dividend Comparison

ARMW's dividend yield for the trailing twelve months is around 25.98%, less than TOPW's 47.37% yield.

Position	TTM	2025
ARMW Roundhill ARM WeeklyPay ETF	25.98%	16.38%
TOPW Roundhill Top WeeklyPay ETF	47.37%	21.52%

Frequently Asked Questions

Can I hold both ARMW and TOPW in my portfolio?

ARMW and TOPW have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ARMW or TOPW?

Both ETFs have the same 0.99% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ARMW or TOPW?

ARMW and TOPW have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, ARMW or TOPW?

TOPW has the higher dividend yield at 47.37%, compared with 25.98% for ARMW.