COIW vs. XPAY

Last updated Jul 18, 2026

COIW (COIN WeeklyPay™ ETF) and XPAY (Roundhill S&P 500 Target 20 Managed Distribution ETF) are both Derivative Income funds from Roundhill. Both are actively managed. Over the past year, COIW returned -71.27% vs 18.82% for XPAY. A 0.58 correlation means they provide meaningful diversification when combined. COIW charges 0.99%/yr vs 0.49%/yr for XPAY.

Performance

COIW vs. XPAY - Performance Comparison

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

Returns By Period

In the year-to-date period, COIW achieves a -38.16% return, which is significantly lower than XPAY's 9.25% return.

COIW

• 1D: -2.97%
• 1M: -6.46%
• 6M: -42.90%
• YTD: -38.16%
• 1Y: -71.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XPAY

• 1D: -1.00%
• 1M: 0.48%
• 6M: 7.76%
• YTD: 9.25%
• 1Y: 18.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COIW vs. XPAY - Yearly Performance Comparison

	2026 (YTD)	2025
COIW COIN WeeklyPay™ ETF	-38.16%	-25.92%
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	9.25%	12.38%

Correlation

The correlation between COIW and XPAY is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	0.58

The correlation between COIW and XPAY has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.

Return for Risk

COIW vs. XPAY — Risk / Return Rank

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

COIW

COIW Risk / Return Rank: 2
COIW Sharpe Ratio Rank: 2
COIW Sortino Ratio Rank: 2
COIW Omega Ratio Rank: 2
COIW Calmar Ratio Rank: 1
COIW Martin Ratio Rank: 2

XPAY

XPAY Risk / Return Rank: 56
XPAY Sharpe Ratio Rank: 56
XPAY Sortino Ratio Rank: 54
XPAY Omega Ratio Rank: 55
XPAY Calmar Ratio Rank: 49
XPAY Martin Ratio Rank: 63

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. XPAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for COIN WeeklyPay™ ETF (COIW) 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.

	COIW	XPAY	Difference
Sharpe ratio: Return per unit of total volatility	-0.87	1.52	-2.39
Sortino ratio: Return per unit of downside risk	-1.57	2.11	-3.68
Omega ratio: Gain probability vs. loss probability	0.83	1.27	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.95	2.03	-2.98
Martin ratio: Return relative to average drawdown	-1.35	8.78	-10.13

COIW vs. XPAY - Sharpe Ratio Comparison

The current COIW Sharpe Ratio is -0.87, which is lower than the XPAY Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of COIW 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.

Drawdowns

COIW vs. XPAY - Drawdown Comparison

The maximum COIW drawdown since its inception was -75.01%, which is greater than XPAY's maximum drawdown of -18.20%. Use the drawdown chart below to compare losses from any high point for COIW and XPAY.

Drawdown Indicators

	COIW	XPAY	Difference
Max Drawdown Largest peak-to-trough decline	-75.01%	-18.20%	-56.81%
Max Drawdown (1Y) Largest decline over 1 year	-75.01%	-9.34%	-65.67%
Current Drawdown Current decline from peak	-72.00%	-2.09%	-69.91%
Average Drawdown Average peak-to-trough decline	-40.87%	-2.34%	-38.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.78%	2.15%	+50.63%

Volatility

COIW vs. XPAY - Volatility Comparison

COIN WeeklyPay™ ETF (COIW) has a higher volatility of 19.80% compared to Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY) at 3.46%. This indicates that COIW'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.

Volatility by Period

	COIW	XPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.80%	3.46%	+16.34%
Volatility (6M) Calculated over the trailing 6-month period	64.31%	9.87%	+54.44%
Volatility (1Y) Calculated over the trailing 1-year period	82.05%	12.45%	+69.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.57%	16.62%	+72.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.57%	16.62%	+72.95%

COIW vs. XPAY - Expense Ratio Comparison

COIW has a 0.99% expense ratio, which is higher than XPAY's 0.49% expense ratio.

Dividends

COIW vs. XPAY - Dividend Comparison

COIW's dividend yield for the trailing twelve months is around 229.45%, more than XPAY's 21.17% yield.

Position	TTM	2025	2024
COIW COIN WeeklyPay™ ETF	229.45%	120.37%	0.00%
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	21.17%	21.21%	3.40%

Frequently Asked Questions

Can I hold both COIW and XPAY in my portfolio?

COIW and XPAY have a correlation of 0.56, 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 XPAY?

COIW has higher volatility (19.80%) compared to XPAY (3.46%). In terms of maximum drawdown, COIW dropped -75.01% vs XPAY's -18.20%.

Which ETF is better, COIW or XPAY?

On 1-year performance, XPAY leads with 18.82% vs -71.27% for COIW. On fees, XPAY is cheaper at 0.49% per year. On volatility, XPAY has been the lower-risk option at 3.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COIW or XPAY?

Over the 1-year period, XPAY has performed better with a 18.82% return vs -71.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COIW or XPAY?

XPAY is cheaper with a 0.49% expense ratio, compared with 0.99% for COIW.

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

COIW has the higher dividend yield at 229.45%, compared with 21.17% for XPAY.

What is the main difference between COIW and XPAY?

Their fees differ too: 0.99% for COIW and 0.49% for XPAY.

Which has better risk-adjusted returns?

XPAY currently has the higher Sharpe Ratio (1.52 vs -0.87), 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.