IVV vs. XDTE

Last updated Jun 13, 2026

IVV (iShares Core S&P 500 ETF) and XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) are both exchange-traded funds - IVV is a S&P 500 fund tracking the S&P 500 Index, while XDTE is a Derivative Income fund actively managed by Roundhill. IVV is passively managed, while XDTE is actively managed. Over the past year, IVV returned 24.38% vs 21.75% for XDTE. With a 0.96 correlation, they move nearly in lockstep. IVV charges 0.03%/yr vs 0.97%/yr for XDTE.

Performance

IVV vs. XDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P 500 ETF (IVV) and Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVV achieves a 9.08% return, which is significantly higher than XDTE's 6.97% return.

IVV

• 1D: 0.55%
• 1M: -0.08%
• YTD: 9.08%
• 6M: 9.43%
• 1Y: 24.38%
• 3Y*: 20.95%
• 5Y*: 13.42%
• 10Y*: 15.47%

XDTE

• 1D: 0.65%
• 1M: -0.46%
• YTD: 6.97%
• 6M: 7.43%
• 1Y: 21.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IVV vs. XDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IVV iShares Core S&P 500 ETF	9.08%	17.85%	16.47%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	6.97%	12.60%	17.12%

Correlation

The correlation between IVV and XDTE is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.96

The correlation between IVV and XDTE has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

IVV vs. XDTE - Sectors Allocation Comparison

Sectors	IVV	XDTE
Technology	35.6%	35.6%
Financial Services	11.8%	11.8%
Communication Services	11.2%	11.2%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.5%	8.5%
Industrials	8.3%	8.3%
Consumer Defensive	4.9%	4.9%
Energy	3.5%	3.5%
Utilities	2.4%	2.4%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

IVV vs. XDTE — Risk / Return Rank

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

IVV

IVV Risk / Return Rank: 70
IVV Sharpe Ratio Rank: 71
IVV Sortino Ratio Rank: 69
IVV Omega Ratio Rank: 71
IVV Calmar Ratio Rank: 63
IVV Martin Ratio Rank: 76

XDTE

XDTE Risk / Return Rank: 68
XDTE Sharpe Ratio Rank: 68
XDTE Sortino Ratio Rank: 64
XDTE Omega Ratio Rank: 68
XDTE Calmar Ratio Rank: 65
XDTE Martin Ratio Rank: 76

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.

IVV vs. XDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 ETF (IVV) and Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE). 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.

	IVV	XDTE	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.92	+0.08
Sortino ratio: Return per unit of downside risk	2.70	2.55	+0.14
Omega ratio: Gain probability vs. loss probability	1.36	1.35	+0.01
Calmar ratio: Return relative to maximum drawdown	2.76	2.84	-0.09
Martin ratio: Return relative to average drawdown	12.43	12.55	-0.11

IVV vs. XDTE - Sharpe Ratio Comparison

The current IVV Sharpe Ratio is 2.00, which is comparable to the XDTE Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of IVV and XDTE, 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

IVV vs. XDTE - Drawdown Comparison

The maximum IVV drawdown since its inception was -55.25%, which is greater than XDTE's maximum drawdown of -19.09%. Use the drawdown chart below to compare losses from any high point for IVV and XDTE.

Drawdown Indicators

	IVV	XDTE	Difference
Max Drawdown Largest peak-to-trough decline	-55.25%	-19.09%	-36.16%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-7.68%	-1.21%
Max Drawdown (3Y) Largest decline over 3 years	-18.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.90%	—	—
Current Drawdown Current decline from peak	-2.35%	-2.36%	+0.01%
Average Drawdown Average peak-to-trough decline	-10.77%	-2.32%	-8.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.74%	+0.23%

Volatility

IVV vs. XDTE - Volatility Comparison

iShares Core S&P 500 ETF (IVV) has a higher volatility of 4.37% compared to Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) at 3.93%. This indicates that IVV's price experiences larger fluctuations and is considered to be riskier than XDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVV	XDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	3.93%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	9.59%	8.88%	+0.71%
Volatility (1Y) Calculated over the trailing 1-year period	12.28%	11.38%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.95%	13.92%	+3.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	13.92%	+4.16%

IVV vs. XDTE - Expense Ratio Comparison

IVV has a 0.03% expense ratio, which is lower than XDTE's 0.97% expense ratio.

Dividends

IVV vs. XDTE - Dividend Comparison

IVV's dividend yield for the trailing twelve months is around 1.08%, less than XDTE's 33.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVV iShares Core S&P 500 ETF	1.08%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.43%	39.16%	20.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IVV and XDTE in my portfolio?

With a correlation of 0.97, IVV and XDTE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IVV or XDTE?

IVV has higher volatility (4.37%) compared to XDTE (3.93%). In terms of maximum drawdown, IVV dropped -55.25% vs XDTE's -19.09%.

Which ETF is better, IVV or XDTE?

On 1-year performance, IVV leads with 24.38% vs 21.75% for XDTE. On fees, IVV is cheaper at 0.03% per year. On volatility, XDTE has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVV or XDTE?

Over the 1-year period, IVV has performed better with a 24.38% return vs 21.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVV or XDTE?

IVV is cheaper with a 0.03% expense ratio, compared with 0.97% for XDTE.

Which ETF pays a higher dividend yield, IVV or XDTE?

XDTE has the higher dividend yield at 33.43%, compared with 1.08% for IVV.

What is the main difference between IVV and XDTE?

IVV is categorized as S&P 500, while XDTE is Derivative Income. They also come from different issuers: iShares and Roundhill. Their fees differ too: 0.03% for IVV and 0.97% for XDTE.

Which has better risk-adjusted returns?

IVV currently has the higher Sharpe Ratio (2.00 vs 1.92), 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.