CWII vs. SPYT

Last updated Jun 4, 2026

CWII (REX CRWV Growth & Income ETF) and SPYT (Defiance S&P 500 Income Target ETF) are both Derivative Income funds. Both are actively managed. At a 0.48 correlation, their price movements are largely independent. CWII charges 1.03%/yr vs 0.87%/yr for SPYT.

Performance

CWII vs. SPYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX CRWV Growth & Income ETF (CWII) and Defiance S&P 500 Income Target ETF (SPYT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CWII achieves a 37.23% return, which is significantly higher than SPYT's 9.70% return.

CWII

• 1D: -5.26%
• 1M: -7.64%
• YTD: 37.23%
• 6M: 17.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYT

• 1D: -0.68%
• 1M: 3.81%
• YTD: 9.70%
• 6M: 9.51%
• 1Y: 23.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CWII vs. SPYT - Yearly Performance Comparison

	2026 (YTD)	2025
CWII REX CRWV Growth & Income ETF	37.23%	-42.16%
SPYT Defiance S&P 500 Income Target ETF	9.70%	0.57%

Correlation

The correlation between CWII and SPYT is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025	0.48

Return for Risk

CWII vs. SPYT — Risk / Return Rank

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

SPYT

SPYT Risk / Return Rank: 65
SPYT Sharpe Ratio Rank: 63
SPYT Sortino Ratio Rank: 63
SPYT Omega Ratio Rank: 70
SPYT Calmar Ratio Rank: 58
SPYT Martin Ratio Rank: 72

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.

CWII vs. SPYT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX CRWV Growth & Income ETF (CWII) and Defiance S&P 500 Income Target ETF (SPYT). 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.

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

Sharpe Ratios by Period

	CWII	SPYT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.38	1.08	-1.46

Drawdowns

CWII vs. SPYT - Drawdown Comparison

The maximum CWII drawdown since its inception was -48.46%, which is greater than SPYT's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for CWII and SPYT.

Drawdown Indicators

	CWII	SPYT	Difference
Max Drawdown Largest peak-to-trough decline	-48.46%	-18.25%	-30.21%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.00%	—
Current Drawdown Current decline from peak	-20.63%	-0.68%	-19.95%
Average Drawdown Average peak-to-trough decline	-30.55%	-2.00%	-28.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.72%	—

Volatility

Volatility by Period

	CWII	SPYT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.54%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	88.61%	10.86%	+77.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.61%	14.80%	+73.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.61%	14.80%	+73.81%

CWII vs. SPYT - Expense Ratio Comparison

CWII has a 1.03% expense ratio, which is higher than SPYT's 0.87% expense ratio.

Dividends

CWII vs. SPYT - Dividend Comparison

CWII's dividend yield for the trailing twelve months is around 20.73%, which matches SPYT's 20.73% yield.

Position	TTM	2025	2024
CWII REX CRWV Growth & Income ETF	20.73%	6.09%	0.00%
SPYT Defiance S&P 500 Income Target ETF	20.73%	21.40%	17.37%

Frequently Asked Questions

Can I hold both CWII and SPYT in my portfolio?

CWII and SPYT have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CWII or SPYT?

On fees, SPYT is cheaper at 0.87% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CWII or SPYT?

SPYT is cheaper with a 0.87% expense ratio, compared with 1.03% for CWII.

Which ETF pays a higher dividend yield, CWII or SPYT?

CWII and SPYT have nearly identical dividend yields, around 20.73%.

What is the main difference between CWII and SPYT?

They also come from different issuers: REX Shares and Defiance. Their fees differ too: 1.03% for CWII and 0.87% for SPYT.