COIW vs. IWMY

Last updated Jun 9, 2026

COIW (COIN WeeklyPay™ ETF) and IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) are both exchange-traded funds - COIW is a Derivative Income fund actively managed by Roundhill, while IWMY is a Options Trading fund tracking the Russell 2000 Index. COIW is actively managed, while IWMY is passively managed. Over the past year, COIW returned -46.63% vs 19.66% for IWMY. A 0.56 correlation means they provide meaningful diversification when combined. Both charge a 0.99% expense ratio.

Performance

COIW vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in COIN WeeklyPay™ ETF (COIW) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COIW achieves a -35.32% return, which is significantly lower than IWMY's 10.55% return.

COIW

• 1D: 7.79%
• 1M: -23.46%
• YTD: -35.32%
• 6M: -48.91%
• 1Y: -46.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: 0.63%
• 1M: -0.57%
• YTD: 10.55%
• 6M: 8.47%
• 1Y: 19.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COIW vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025
COIW COIN WeeklyPay™ ETF	-35.32%	-25.92%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	10.55%	3.99%

Correlation

The correlation between COIW and IWMY 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 (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	0.56

The correlation between COIW and IWMY has been stable across timeframes, ranging from 0.51 to 0.56 - a consistent structural relationship.

Return for Risk

COIW vs. IWMY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COIW

COIW Risk / Return Rank: 5
COIW Sharpe Ratio Rank: 5
COIW Sortino Ratio Rank: 6
COIW Omega Ratio Rank: 6
COIW Calmar Ratio Rank: 4
COIW Martin Ratio Rank: 5

IWMY

IWMY Risk / Return Rank: 37
IWMY Sharpe Ratio Rank: 38
IWMY Sortino Ratio Rank: 34
IWMY Omega Ratio Rank: 35
IWMY Calmar Ratio Rank: 38
IWMY Martin Ratio Rank: 39

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COIW vs. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for COIN WeeklyPay™ ETF (COIW) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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.

	COIW	IWMY	Difference
Sharpe ratio: Return per unit of total volatility	-0.55	1.23	-1.77
Sortino ratio: Return per unit of downside risk	-0.47	1.67	-2.14
Omega ratio: Gain probability vs. loss probability	0.95	1.21	-0.27
Calmar ratio: Return relative to maximum drawdown	-0.63	1.71	-2.33
Martin ratio: Return relative to average drawdown	-0.99	5.59	-6.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COIW vs. IWMY - Sharpe Ratio Comparison

The current COIW Sharpe Ratio is -0.55, which is lower than the IWMY Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of COIW and IWMY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	COIW	IWMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	1.23	-1.77
Sharpe Ratio (All Time) Calculated using the full available price history	-0.46	0.90	-1.36

Drawdowns

COIW vs. IWMY - Drawdown Comparison

The maximum COIW drawdown since its inception was -74.55%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for COIW and IWMY.

Drawdown Indicators

	COIW	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-74.55%	-18.72%	-55.83%
Max Drawdown (1Y) Largest decline over 1 year	-74.55%	-11.57%	-62.98%
Current Drawdown Current decline from peak	-70.71%	-2.89%	-67.82%
Average Drawdown Average peak-to-trough decline	-38.03%	-2.98%	-35.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.34%	3.53%	+43.81%

Volatility

COIW vs. IWMY - Volatility Comparison

COIN WeeklyPay™ ETF (COIW) has a higher volatility of 25.57% compared to Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) at 6.26%. This indicates that COIW's price experiences larger fluctuations and is considered to be riskier than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COIW	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.57%	6.26%	+19.31%
Volatility (6M) Calculated over the trailing 6-month period	62.78%	13.20%	+49.58%
Volatility (1Y) Calculated over the trailing 1-year period	85.48%	16.15%	+69.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.27%	15.90%	+75.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.27%	15.90%	+75.37%

COIW vs. IWMY - Expense Ratio Comparison

Both COIW and IWMY have an expense ratio of 0.99%.

Dividends

COIW vs. IWMY - Dividend Comparison

COIW's dividend yield for the trailing twelve months is around 235.93%, more than IWMY's 46.29% yield.

Position	TTM	2025	2024	2023
COIW COIN WeeklyPay™ ETF	235.93%	120.37%	0.00%	0.00%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	46.29%	63.33%	107.92%	11.34%

Frequently Asked Questions

Can I hold both COIW and IWMY in my portfolio?

COIW and IWMY 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 is riskier, COIW or IWMY?

COIW has higher volatility (25.57%) compared to IWMY (6.26%). In terms of maximum drawdown, COIW dropped -74.55% vs IWMY's -18.72%.

Which ETF is better, COIW or IWMY?

On 1-year performance, IWMY leads with 19.66% vs -46.63% for COIW. Both ETFs have the same 0.99% expense ratio. On volatility, IWMY has been the lower-risk option at 6.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COIW or IWMY?

Over the 1-year period, IWMY has performed better with a 19.66% return vs -46.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COIW or IWMY?

COIW and IWMY have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, COIW or IWMY?

COIW has the higher dividend yield at 235.93%, compared with 46.29% for IWMY.

What is the main difference between COIW and IWMY?

COIW is categorized as Derivative Income, while IWMY is Options Trading. They also come from different issuers: Roundhill and Defiance.

Which has better risk-adjusted returns?

IWMY currently has the higher Sharpe Ratio (1.23 vs -0.55), 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.