ITWO vs. ARMW

Last updated Jul 16, 2026

ITWO (Proshares Russell 2000 High Income ETF) and ARMW (Roundhill ARM WeeklyPay ETF) are both Derivative Income funds. ITWO is passively managed, while ARMW is actively managed. A 0.51 correlation means they provide meaningful diversification when combined. ITWO charges 0.55%/yr vs 0.99%/yr for ARMW.

Performance

ITWO vs. ARMW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Russell 2000 High Income ETF (ITWO) and Roundhill ARM WeeklyPay ETF (ARMW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ITWO achieves a 21.78% return, which is significantly lower than ARMW's 182.49% return.

ITWO

• 1D: 0.52%
• 1M: 0.67%
• 6M: 14.35%
• YTD: 21.78%
• 1Y: 35.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARMW

• 1D: -1.09%
• 1M: -38.97%
• 6M: 199.70%
• YTD: 182.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ITWO vs. ARMW - Yearly Performance Comparison

	2026 (YTD)	2025
ITWO Proshares Russell 2000 High Income ETF	21.78%	2.03%
ARMW Roundhill ARM WeeklyPay ETF	182.49%	-41.28%

Correlation

The correlation between ITWO and ARMW is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025	0.51

Return for Risk

ITWO vs. ARMW — Risk / Return Rank

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

ITWO

ITWO Risk / Return Rank: 75
ITWO Sharpe Ratio Rank: 74
ITWO Sortino Ratio Rank: 72
ITWO Omega Ratio Rank: 64
ITWO Calmar Ratio Rank: 84
ITWO Martin Ratio Rank: 80

ARMW

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

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.

ITWO vs. ARMW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Russell 2000 High Income ETF (ITWO) and Roundhill ARM WeeklyPay ETF (ARMW). 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.

	ITWO	ARMW	Difference
Sharpe ratio: Return per unit of total volatility	1.90	—	—
Sortino ratio: Return per unit of downside risk	2.60	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	3.67	—	—
Martin ratio: Return relative to average drawdown	12.28	—	—

Drawdowns

ITWO vs. ARMW - Drawdown Comparison

The maximum ITWO drawdown since its inception was -24.77%, smaller than the maximum ARMW drawdown of -48.47%. Use the drawdown chart below to compare losses from any high point for ITWO and ARMW.

Drawdown Indicators

	ITWO	ARMW	Difference
Max Drawdown Largest peak-to-trough decline	-24.77%	-48.47%	+23.70%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	—	—
Current Drawdown Current decline from peak	-1.43%	-43.15%	+41.72%
Average Drawdown Average peak-to-trough decline	-4.90%	-25.84%	+20.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	—	—

Volatility

Volatility by Period

	ITWO	ARMW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.90%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.99%	95.02%	-76.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.38%	95.02%	-74.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.38%	95.02%	-74.64%

ITWO vs. ARMW - Expense Ratio Comparison

ITWO has a 0.55% expense ratio, which is lower than ARMW's 0.99% expense ratio.

Dividends

ITWO vs. ARMW - Dividend Comparison

ITWO's dividend yield for the trailing twelve months is around 7.24%, less than ARMW's 46.80% yield.

Position	TTM	2025	2024
ARMW Roundhill ARM WeeklyPay ETF	46.80%	16.38%	0.00%
ITWO Proshares Russell 2000 High Income ETF	7.24%	12.12%	4.11%

Frequently Asked Questions

Can I hold both ITWO and ARMW in my portfolio?

ITWO and ARMW have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ITWO or ARMW?

On fees, ITWO is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ITWO or ARMW?

ITWO is cheaper with a 0.55% expense ratio, compared with 0.99% for ARMW.

Which ETF pays a higher dividend yield, ITWO or ARMW?

ARMW has the higher dividend yield at 46.80%, compared with 7.24% for ITWO.

What is the main difference between ITWO and ARMW?

They also come from different issuers: ProShares and Roundhill Investments. Their fees differ too: 0.55% for ITWO and 0.99% for ARMW.