ECAT vs. XPAY
ECAT (BlackRock ESG Capital Allocation Term Trust) and XPAY (Roundhill S&P 500 Target 20 Managed Distribution ETF) are both Derivative Income funds. Over the past year, ECAT returned 19.89% vs 24.99% for XPAY. A 0.72 correlation means they provide meaningful diversification when combined. ECAT charges 1.38%/yr vs 0.49%/yr for XPAY.
Performance
ECAT vs. XPAY - Performance Comparison
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Returns By Period
In the year-to-date period, ECAT achieves a 10.66% return, which is significantly higher than XPAY's 8.67% return.
ECAT
- 1D
- 2.30%
- 1M
- 3.12%
- YTD
- 10.66%
- 6M
- 10.05%
- 1Y
- 19.89%
- 3Y*
- 18.39%
- 5Y*
- —
- 10Y*
- —
XPAY
- 1D
- 0.27%
- 1M
- -1.03%
- YTD
- 8.67%
- 6M
- 8.87%
- 1Y
- 24.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ECAT vs. XPAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ECAT BlackRock ESG Capital Allocation Term Trust | 10.66% | 16.64% | -2.05% |
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF | 8.67% | 16.78% | 1.60% |
Correlation
The correlation between ECAT and XPAY is 0.70, 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 | 0.70 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2024 | 0.72 |
The correlation between ECAT and XPAY has been stable across timeframes, ranging from 0.70 to 0.72 - a consistent structural relationship.
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Return for Risk
ECAT vs. XPAY — Risk / Return Rank
ECAT
XPAY
ECAT vs. XPAY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock ESG Capital Allocation Term Trust (ECAT) 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.
| ECAT | XPAY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.35 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.51 | -0.95 |
| Martin ratioReturn relative to average drawdown | 5.79 | 11.28 | -5.49 |
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Drawdowns
ECAT vs. XPAY - Drawdown Comparison
The maximum ECAT drawdown since its inception was -32.23%, which is greater than XPAY's maximum drawdown of -18.20%. Use the drawdown chart below to compare losses from any high point for ECAT and XPAY.
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Drawdown Indicators
| ECAT | XPAY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.23% | -18.20% | -14.03% |
Max Drawdown (1Y)Largest decline over 1 year | -11.80% | -9.34% | -2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -15.79% | — | — |
Current DrawdownCurrent decline from peak | -1.71% | -2.61% | +0.90% |
Average DrawdownAverage peak-to-trough decline | -9.07% | -2.38% | -6.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.18% | 2.08% | +1.10% |
Volatility
ECAT vs. XPAY - Volatility Comparison
BlackRock ESG Capital Allocation Term Trust (ECAT) has a higher volatility of 4.46% compared to Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY) at 4.24%. This indicates that ECAT'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
| ECAT | XPAY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.46% | 4.24% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 10.92% | 9.46% | +1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.77% | 12.25% | +1.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.91% | 16.81% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.91% | 16.81% | +0.10% |
ECAT vs. XPAY - Expense Ratio Comparison
ECAT has a 1.38% expense ratio, which is higher than XPAY's 0.49% expense ratio.
Dividends
ECAT vs. XPAY - Dividend Comparison
ECAT's dividend yield for the trailing twelve months is around 21.82%, more than XPAY's 21.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ECAT BlackRock ESG Capital Allocation Term Trust | 19.91% | 23.00% | 17.44% | 9.14% | 8.94% | 0.54% |
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF | 21.03% | 21.21% | 3.40% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ECAT and XPAY have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ECAT has higher volatility (4.46%) compared to XPAY (4.24%). In terms of maximum drawdown, ECAT dropped -32.23% vs XPAY's -18.20%.
XPAY currently has the higher Sharpe Ratio (1.91 vs 1.33), 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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