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BETZ vs. XPAY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BETZ vs. XPAY

Last updated Aug 2, 2026
Documentation

BETZ (Roundhill Sports Betting & iGaming ETF) and XPAY (Roundhill S&P 500 Target 20 Managed Distribution ETF) are both exchange-traded funds - BETZ is a Consumer Discretionary Equities fund tracking the Roundhill Sports Betting & iGaming Index, while XPAY is a Derivative Income fund actively managed by Roundhill. BETZ is passively managed, while XPAY is actively managed. Over the past year, BETZ returned -16.95% vs 20.64% for XPAY. Their 0.52 correlation means they have sometimes moved together and sometimes differently. BETZ charges 0.75%/yr vs 0.49%/yr for XPAY.

Performance

BETZ vs. XPAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Sports Betting & iGaming ETF (BETZ) and Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BETZ achieves a -8.87% return, which is significantly lower than XPAY's 9.86% return.

BETZ

1D
-0.58%
1M
0.36%
6M
2.90%
YTD
-8.87%
1Y
-16.95%
3Y*
3.15%
5Y*
-5.84%
10Y*
—
ALL TIME*
4.39%

XPAY

1D
0.71%
1M
0.30%
6M
8.21%
YTD
9.86%
1Y
20.64%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
16.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

BETZ

Roundhill Sports Betting & iGaming ETF
$205.48K$310.34K$782.30K

XPAY

Roundhill S&P 500 Target 20 Managed Distribution ETF
$1.68M$2.65M$3.83M

BETZ vs. XPAY - Yearly Performance Comparison

2026 (YTD)20252024
BETZ
Roundhill Sports Betting & iGaming ETF		-8.87%15.75%2.14%
XPAY
Roundhill S&P 500 Target 20 Managed Distribution ETF		9.86%16.78%1.60%

Correlation

The correlation between BETZ and XPAY is 0.43, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.44

Correlation (All Time)
Calculated using the full available price history since Oct 31, 2024

0.52

The correlation between BETZ and XPAY has been stable across timeframes, ranging from 0.43 to 0.52 - a consistent structural relationship.

BETZ vs. XPAY - Sectors Allocation Comparison

Sectors
BETZ
XPAY

Consumer Cyclical

77.1%
9.5%

Technology

8.6%
38.5%

Communication Services

3.9%
9.9%

Industrials

2.8%
8.4%

Financial Services

0.0%
11.6%

Basic Materials

-

1.7%

Consumer Defensive

-

4.5%

Energy

-

3.0%

Healthcare

-

8.9%

Real Estate

-

1.8%

Utilities

-

2.2%

Consumer Cyclical

BETZ
77.1%
XPAY
9.5%

Technology

BETZ
8.6%
XPAY
38.5%

Communication Services

BETZ
3.9%
XPAY
9.9%

Industrials

BETZ
2.8%
XPAY
8.4%

Financial Services

BETZ
0.0%
XPAY
11.6%

Basic Materials

BETZ

-

XPAY
1.7%

Consumer Defensive

BETZ

-

XPAY
4.5%

Energy

BETZ

-

XPAY
3.0%

Healthcare

BETZ

-

XPAY
8.9%

Real Estate

BETZ

-

XPAY
1.8%

Utilities

BETZ

-

XPAY
2.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Roundhill Sports Betting & iGaming ETF

Roundhill S&P 500 Target 20 Managed Distribution ETF

Often compared with BETZ:
BETZ vs. FDISBETZ vs. ODDSBETZ vs. MGMBETZ vs. HTECBETZ vs. SPYBETZ vs. QQQBETZ vs. BRK-B
Often compared with XPAY:
XPAY vs. SPYIXPAY vs. XDTEXPAY vs. SPYXPAY vs. VOOXPAY vs. GIAXXPAY vs. QQQIXPAY vs. TSLP

Return for Risk

BETZ vs. XPAY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
BETZ
BETZ Risk / Return Rank: 44
Overall Rank
BETZ Sharpe Ratio Rank: 33
Sharpe Ratio Rank
BETZ Sortino Ratio Rank: 33
Sortino Ratio Rank
BETZ Omega Ratio Rank: 33
Omega Ratio Rank
BETZ Calmar Ratio Rank: 44
Calmar Ratio Rank
BETZ Martin Ratio Rank: 55
Martin Ratio Rank
XPAY
XPAY Risk / Return Rank: 6363
Overall Rank
XPAY Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
XPAY Sortino Ratio Rank: 6161
Sortino Ratio Rank
XPAY Omega Ratio Rank: 6262
Omega Ratio Rank
XPAY Calmar Ratio Rank: 5757
Calmar Ratio Rank
XPAY Martin Ratio Rank: 6969
Martin Ratio Rank
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.

BETZ vs. XPAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Sports Betting & iGaming ETF (BETZ) and Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY). 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.

BETZXPAYDifference
Sharpe ratioReturn per unit of total volatility
-0.83
1.47

-2.30

Sortino ratioReturn per unit of downside risk
-1.09
2.04

-3.13

Omega ratioGain probability vs. loss probability

0.88

1.26

-0.38

Calmar ratioReturn relative to maximum drawdown

-0.60

2.00

-2.60

Martin ratioReturn relative to average drawdown

-0.93

8.48

-9.41

BETZ vs. XPAY - Sharpe Ratio Comparison

The current BETZ Sharpe Ratio is -0.83, which is lower than the XPAY Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of BETZ and XPAY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BETZ vs. XPAY - Drawdown Comparison

The maximum BETZ drawdown since its inception was -60.82%, which is greater than XPAY's maximum drawdown of -18.20%. Use the drawdown chart below to compare losses from any high point for BETZ and XPAY.

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Drawdown Indicators

BETZXPAYDifference

Max Drawdown

Largest peak-to-trough decline

-60.82%

-18.20%

-42.62%

Max Drawdown (1Y)

Largest decline over 1 year

-29.20%

-9.34%

-19.86%

Max Drawdown (3Y)

Largest decline over 3 years

-29.20%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-59.79%

—

—

Current Drawdown

Current decline from peak

-38.35%

-1.55%

-36.80%

Average Drawdown

Average peak-to-trough decline

-33.89%

-2.34%

-31.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

18.92%

2.20%

+16.72%

Volatility

BETZ vs. XPAY - Volatility Comparison

Roundhill Sports Betting & iGaming ETF (BETZ) has a higher volatility of 5.96% compared to Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY) at 3.44%. This indicates that BETZ's price experiences larger fluctuations and is considered to be riskier than XPAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BETZXPAYDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.96%

3.44%

+2.52%

Volatility (6M)

Calculated over the trailing 6-month period

17.04%

9.94%

+7.10%

Volatility (1Y)

Calculated over the trailing 1-year period

21.17%

12.70%

+8.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.97%

16.55%

+10.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.85%

16.55%

+11.30%

BETZ vs. XPAY - Expense Ratio Comparison

BETZ has a 0.75% expense ratio, which is higher than XPAY's 0.49% expense ratio.

Dividends

BETZ vs. XPAY - Dividend Comparison

BETZ's dividend yield for the trailing twelve months is around 5.02%, less than XPAY's 21.05% yield.

PositionTTM202520242023202220212020
BETZ
Roundhill Sports Betting & iGaming ETF		5.02%4.57%0.86%0.00%0.66%0.00%0.28%
XPAY
Roundhill S&P 500 Target 20 Managed Distribution ETF		21.05%21.21%3.40%0.00%0.00%0.00%0.00%

Frequently Asked Questions

BETZ and XPAY have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BETZ has higher volatility (5.96%) compared to XPAY (3.44%). In terms of maximum drawdown, BETZ dropped -60.82% vs XPAY's -18.20%.

On 1-year performance, XPAY leads with 20.64% vs -16.95% for BETZ. On fees, XPAY is cheaper at 0.49% per year. On volatility, XPAY has been the lower-risk option at 3.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, XPAY has performed better with a 20.64% return vs -16.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XPAY is cheaper with a 0.49% expense ratio, compared with 0.75% for BETZ.

XPAY has the higher dividend yield at 21.05%, compared with 5.02% for BETZ.

BETZ is categorized as Consumer Discretionary Equities, while XPAY is Derivative Income. Their fees differ too: 0.75% for BETZ and 0.49% for XPAY.

XPAY currently has the higher Sharpe Ratio (1.47 vs -0.83), 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.

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