ISPY vs. AMDW

Last updated Aug 5, 2026

ISPY (ProShares S&P 500 High Income ETF) and AMDW (Roundhill AMD WeeklyPay ETF) are both Derivative Income funds. ISPY is passively managed, while AMDW is actively managed. Over the past year, ISPY returned 19.88% vs 234.24% for AMDW. Their 0.57 correlation means they have sometimes moved together and sometimes differently. ISPY charges 0.55%/yr vs 0.99%/yr for AMDW.

Performance

ISPY vs. AMDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 High Income ETF (ISPY) and Roundhill AMD WeeklyPay ETF (AMDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISPY achieves a 10.87% return, which is significantly lower than AMDW's 175.61% return.

ISPY

• 1D: 1.14%
• 1M: 2.32%
• 6M: 9.51%
• YTD: 10.87%
• 1Y: 19.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.52%

AMDW

• 1D: 9.85%
• 1M: 0.38%
• 6M: 139.25%
• YTD: 175.61%
• 1Y: 234.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 262.37%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMDW Roundhill AMD WeeklyPay ETF	$10.30M	$9.38M	$8.59M
ISPY ProShares S&P 500 High Income ETF	$3.45M	$3.99M	$4.91M

ISPY vs. AMDW - Yearly Performance Comparison

	2026 (YTD)	2025
ISPY ProShares S&P 500 High Income ETF	10.87%	6.89%
AMDW Roundhill AMD WeeklyPay ETF	175.61%	36.56%

Correlation

The correlation between ISPY and AMDW is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.57

The correlation between ISPY and AMDW has been stable across timeframes, ranging from 0.57 to 0.57 - a consistent structural relationship.

ISPY vs. AMDW - Sectors Allocation Comparison

Sectors	ISPY	AMDW
Technology	32.2%	19.3%
Financial Services	20.9%	-
Communication Services	7.9%	-
Healthcare	7.7%	-
Consumer Cyclical	7.4%	-
Industrials	6.6%	-
Consumer Defensive	3.9%	-
Energy	2.9%	-
Utilities	2.3%	-
Real Estate	1.6%	-
Basic Materials	1.6%	-

Return for Risk

ISPY vs. AMDW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ISPY

ISPY Risk / Return Rank: 59
ISPY Sharpe Ratio Rank: 59
ISPY Sortino Ratio Rank: 54
ISPY Omega Ratio Rank: 56
ISPY Calmar Ratio Rank: 60
ISPY Martin Ratio Rank: 67

AMDW

AMDW Risk / Return Rank: 89
AMDW Sharpe Ratio Rank: 94
AMDW Sortino Ratio Rank: 86
AMDW Omega Ratio Rank: 83
AMDW Calmar Ratio Rank: 96
AMDW Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ISPY vs. AMDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 High Income ETF (ISPY) and Roundhill AMD WeeklyPay ETF (AMDW). 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.

	ISPY	AMDW	Difference
Sharpe ratio: Return per unit of total volatility	1.59	2.74	-1.15
Sortino ratio: Return per unit of downside risk	2.13	3.15	-1.02
Omega ratio: Gain probability vs. loss probability	1.28	1.39	-0.11
Calmar ratio: Return relative to maximum drawdown	2.37	6.81	-4.44
Martin ratio: Return relative to average drawdown	9.20	13.34	-4.14

ISPY vs. AMDW - Sharpe Ratio Comparison

The current ISPY Sharpe Ratio is 1.59, which is lower than the AMDW Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of ISPY and AMDW, 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

ISPY vs. AMDW - Drawdown Comparison

The maximum ISPY drawdown since its inception was -16.88%, smaller than the maximum AMDW drawdown of -34.64%. Use the drawdown chart below to compare losses from any high point for ISPY and AMDW.

Drawdown Indicators

	ISPY	AMDW	Difference
Max Drawdown Largest peak-to-trough decline	-16.88%	-34.64%	+17.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-34.64%	+26.21%
Current Drawdown Current decline from peak	0.00%	-12.20%	+12.20%
Average Drawdown Average peak-to-trough decline	-2.08%	-13.98%	+11.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	17.65%	-15.48%

Volatility

ISPY vs. AMDW - Volatility Comparison

The current volatility for ProShares S&P 500 High Income ETF (ISPY) is 3.99%, while Roundhill AMD WeeklyPay ETF (AMDW) has a volatility of 29.22%. This indicates that ISPY experiences smaller price fluctuations and is considered to be less risky than AMDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISPY	AMDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	29.22%	-25.23%
Volatility (6M) Calculated over the trailing 6-month period	10.23%	67.41%	-57.18%
Volatility (1Y) Calculated over the trailing 1-year period	12.62%	86.09%	-73.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.76%	85.21%	-71.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.76%	85.21%	-71.45%

ISPY vs. AMDW - Expense Ratio Comparison

ISPY has a 0.55% expense ratio, which is lower than AMDW's 0.99% expense ratio.

Dividends

ISPY vs. AMDW - Dividend Comparison

ISPY's dividend yield for the trailing twelve months is around 4.99%, less than AMDW's 49.89% yield.

Position	TTM	2025	2024
AMDW Roundhill AMD WeeklyPay ETF	49.89%	34.78%	0.00%
ISPY ProShares S&P 500 High Income ETF	4.99%	8.56%	9.84%

Frequently Asked Questions

Can I hold both ISPY and AMDW in my portfolio?

ISPY and AMDW have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISPY or AMDW?

AMDW has higher volatility (29.22%) compared to ISPY (3.99%). In terms of maximum drawdown, ISPY dropped -16.88% vs AMDW's -34.64%.

Which ETF is better, ISPY or AMDW?

On 1-year performance, AMDW leads with 234.24% vs 19.88% for ISPY. On fees, ISPY is cheaper at 0.55% per year. On volatility, ISPY has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISPY or AMDW?

Over the 1-year period, AMDW has performed better with a 234.24% return vs 19.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISPY or AMDW?

ISPY is cheaper with a 0.55% expense ratio, compared with 0.99% for AMDW.

Which ETF pays a higher dividend yield, ISPY or AMDW?

AMDW has the higher dividend yield at 49.89%, compared with 4.99% for ISPY.

What is the main difference between ISPY and AMDW?

They also come from different issuers: ProShares and Roundhill. Their fees differ too: 0.55% for ISPY and 0.99% for AMDW.

Which has better risk-adjusted returns?

AMDW currently has the higher Sharpe Ratio (2.74 vs 1.59), 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.