GIAX vs. MAGY

Last updated Jun 4, 2026

GIAX (Nicholas Global Equity and Income ETF) and MAGY (Roundhill Magnificent Seven Covered Call ETF) are both Derivative Income funds. Both are actively managed. Over the past year, GIAX returned 31.82% vs 13.34% for MAGY. A 0.72 correlation means they provide meaningful diversification when combined. GIAX charges 0.97%/yr vs 0.99%/yr for MAGY.

Performance

GIAX vs. MAGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Global Equity and Income ETF (GIAX) and Roundhill Magnificent Seven Covered Call ETF (MAGY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GIAX achieves a 22.12% return, which is significantly higher than MAGY's -1.50% return.

GIAX

• 1D: -2.89%
• 1M: 12.88%
• YTD: 22.12%
• 6M: 19.89%
• 1Y: 31.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MAGY

• 1D: -1.26%
• 1M: 1.86%
• YTD: -1.50%
• 6M: -0.71%
• 1Y: 13.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GIAX vs. MAGY - Yearly Performance Comparison

	2026 (YTD)	2025
GIAX Nicholas Global Equity and Income ETF	22.12%	21.72%
MAGY Roundhill Magnificent Seven Covered Call ETF	-1.50%	26.79%

Correlation

The correlation between GIAX and MAGY is 0.71, 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	0.71
Correlation (All Time) Calculated using the full available price history since Apr 24, 2025	0.72

The correlation between GIAX and MAGY has been stable across timeframes, ranging from 0.71 to 0.72 - a consistent structural relationship.

GIAX vs. MAGY - Sectors Allocation Comparison

Sectors	GIAX	MAGY
Technology	36.5%	-
Communication Services	14.8%	-
Financial Services	14.0%	99.9%
Consumer Cyclical	11.8%	-
Industrials	5.8%	-
Basic Materials	4.4%	-
Utilities	4.0%	-
Healthcare	3.1%	-
Real Estate	2.9%	-
Consumer Defensive	1.4%	-
Energy	1.3%	-

Return for Risk

GIAX vs. MAGY — Risk / Return Rank

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

GIAX

GIAX Risk / Return Rank: 41
GIAX Sharpe Ratio Rank: 41
GIAX Sortino Ratio Rank: 39
GIAX Omega Ratio Rank: 41
GIAX Calmar Ratio Rank: 36
GIAX Martin Ratio Rank: 47

MAGY

MAGY Risk / Return Rank: 24
MAGY Sharpe Ratio Rank: 26
MAGY Sortino Ratio Rank: 24
MAGY Omega Ratio Rank: 26
MAGY Calmar Ratio Rank: 21
MAGY Martin Ratio Rank: 24

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.

GIAX vs. MAGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Global Equity and Income ETF (GIAX) and Roundhill Magnificent Seven Covered Call ETF (MAGY). 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.

	GIAX	MAGY	Difference
Sharpe ratio: Return per unit of total volatility	1.47	0.93	+0.54
Sortino ratio: Return per unit of downside risk	2.04	1.29	+0.75
Omega ratio: Gain probability vs. loss probability	1.27	1.18	+0.09
Calmar ratio: Return relative to maximum drawdown	1.81	0.94	+0.88
Martin ratio: Return relative to average drawdown	7.84	3.11	+4.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GIAX vs. MAGY - Sharpe Ratio Comparison

The current GIAX Sharpe Ratio is 1.47, which is higher than the MAGY Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of GIAX and MAGY, 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

	GIAX	MAGY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	0.93	+0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	1.53	-0.56

Drawdowns

GIAX vs. MAGY - Drawdown Comparison

The maximum GIAX drawdown since its inception was -20.38%, which is greater than MAGY's maximum drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for GIAX and MAGY.

Drawdown Indicators

	GIAX	MAGY	Difference
Max Drawdown Largest peak-to-trough decline	-20.38%	-14.29%	-6.09%
Max Drawdown (1Y) Largest decline over 1 year	-17.62%	-14.29%	-3.33%
Current Drawdown Current decline from peak	-2.89%	-3.64%	+0.75%
Average Drawdown Average peak-to-trough decline	-2.99%	-2.69%	-0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.07%	4.29%	-0.22%

Volatility

GIAX vs. MAGY - Volatility Comparison

Nicholas Global Equity and Income ETF (GIAX) has a higher volatility of 8.06% compared to Roundhill Magnificent Seven Covered Call ETF (MAGY) at 3.67%. This indicates that GIAX's price experiences larger fluctuations and is considered to be riskier than MAGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIAX	MAGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.06%	3.67%	+4.39%
Volatility (6M) Calculated over the trailing 6-month period	19.80%	11.29%	+8.51%
Volatility (1Y) Calculated over the trailing 1-year period	21.77%	14.38%	+7.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.46%	14.57%	+6.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.46%	14.57%	+6.89%

GIAX vs. MAGY - Expense Ratio Comparison

GIAX has a 0.97% expense ratio, which is lower than MAGY's 0.99% expense ratio.

Dividends

GIAX vs. MAGY - Dividend Comparison

GIAX's dividend yield for the trailing twelve months is around 22.33%, less than MAGY's 37.35% yield.

Position	TTM	2025	2024
GIAX Nicholas Global Equity and Income ETF	22.33%	25.62%	10.58%
MAGY Roundhill Magnificent Seven Covered Call ETF	37.35%	23.38%	0.00%

Frequently Asked Questions

Can I hold both GIAX and MAGY in my portfolio?

GIAX and MAGY have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GIAX or MAGY?

GIAX has higher volatility (8.06%) compared to MAGY (3.67%). In terms of maximum drawdown, GIAX dropped -20.38% vs MAGY's -14.29%.

Which ETF is better, GIAX or MAGY?

On 1-year performance, GIAX leads with 31.82% vs 13.34% for MAGY. On fees, GIAX is cheaper at 0.97% per year. On volatility, MAGY has been the lower-risk option at 3.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GIAX or MAGY?

Over the 1-year period, GIAX has performed better with a 31.82% return vs 13.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GIAX or MAGY?

GIAX is cheaper with a 0.97% expense ratio, compared with 0.99% for MAGY.

Which ETF pays a higher dividend yield, GIAX or MAGY?

MAGY has the higher dividend yield at 37.35%, compared with 22.33% for GIAX.

What is the main difference between GIAX and MAGY?

They also come from different issuers: Nicholas and Roundhill. Their fees differ too: 0.97% for GIAX and 0.99% for MAGY.

Which has better risk-adjusted returns?

GIAX currently has the higher Sharpe Ratio (1.47 vs 0.93), 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.