IWMY vs. RDTE

Last updated Jun 24, 2026

IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) and RDTE (Roundhill Russell 2000 0DTE Covered Call Strategy ETF) are both exchange-traded funds - IWMY is a Options Trading fund tracking the Russell 2000 Index, while RDTE is a Derivative Income fund actively managed by Roundhill. IWMY is passively managed, while RDTE is actively managed. Over the past year, IWMY returned 21.86% vs 30.49% for RDTE. Their correlation of 0.92 suggests significant overlap in exposure. IWMY charges 0.99%/yr vs 0.97%/yr for RDTE.

Performance

IWMY vs. RDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) and Roundhill Russell 2000 0DTE Covered Call Strategy ETF (RDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWMY achieves a 14.94% return, which is significantly lower than RDTE's 16.99% return.

IWMY

• 1D: -0.81%
• 1M: 3.35%
• YTD: 14.94%
• 6M: 12.52%
• 1Y: 21.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RDTE

• 1D: -0.88%
• 1M: 5.32%
• YTD: 16.99%
• 6M: 14.85%
• 1Y: 30.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IWMY vs. RDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	14.94%	10.18%	2.53%
RDTE Roundhill Russell 2000 0DTE Covered Call Strategy ETF	16.99%	9.46%	8.32%

Correlation

The correlation between IWMY and RDTE is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024	0.92

The correlation between IWMY and RDTE has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

IWMY vs. RDTE — Risk / Return Rank

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

IWMY

IWMY Risk / Return Rank: 39
IWMY Sharpe Ratio Rank: 39
IWMY Sortino Ratio Rank: 37
IWMY Omega Ratio Rank: 36
IWMY Calmar Ratio Rank: 39
IWMY Martin Ratio Rank: 41

RDTE

RDTE Risk / Return Rank: 58
RDTE Sharpe Ratio Rank: 54
RDTE Sortino Ratio Rank: 52
RDTE Omega Ratio Rank: 49
RDTE Calmar Ratio Rank: 70
RDTE Martin Ratio Rank: 66

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.

IWMY vs. RDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) and Roundhill Russell 2000 0DTE Covered Call Strategy ETF (RDTE). 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.

	IWMY	RDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.78	-0.43
Sortino ratio: Return per unit of downside risk	1.84	2.42	-0.58
Omega ratio: Gain probability vs. loss probability	1.23	1.30	-0.07
Calmar ratio: Return relative to maximum drawdown	1.90	3.34	-1.44
Martin ratio: Return relative to average drawdown	6.20	11.57	-5.37

IWMY vs. RDTE - Sharpe Ratio Comparison

The current IWMY Sharpe Ratio is 1.34, which is comparable to the RDTE Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of IWMY and RDTE, 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

IWMY vs. RDTE - Drawdown Comparison

The maximum IWMY drawdown since its inception was -18.72%, smaller than the maximum RDTE drawdown of -24.32%. Use the drawdown chart below to compare losses from any high point for IWMY and RDTE.

Drawdown Indicators

	IWMY	RDTE	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-24.32%	+5.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.57%	-9.17%	-2.40%
Current Drawdown Current decline from peak	-0.81%	-0.88%	+0.07%
Average Drawdown Average peak-to-trough decline	-2.94%	-4.55%	+1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	2.64%	+0.90%

Volatility

IWMY vs. RDTE - Volatility Comparison

Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) and Roundhill Russell 2000 0DTE Covered Call Strategy ETF (RDTE) have volatilities of 6.20% and 6.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWMY	RDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.20%	6.08%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	13.55%	13.07%	+0.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.37%	17.25%	-0.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.95%	19.30%	-3.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.95%	19.30%	-3.35%

IWMY vs. RDTE - Expense Ratio Comparison

IWMY has a 0.99% expense ratio, which is higher than RDTE's 0.97% expense ratio.

Dividends

IWMY vs. RDTE - Dividend Comparison

IWMY's dividend yield for the trailing twelve months is around 43.75%, which matches RDTE's 44.14% yield.

Position	TTM	2025	2024	2023
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	43.75%	63.33%	107.92%	11.34%
RDTE Roundhill Russell 2000 0DTE Covered Call Strategy ETF	44.14%	50.16%	10.70%	0.00%

Frequently Asked Questions

Can I hold both IWMY and RDTE in my portfolio?

With a correlation of 0.90, IWMY and RDTE 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, IWMY or RDTE?

IWMY has higher volatility (6.20%) compared to RDTE (6.08%). In terms of maximum drawdown, IWMY dropped -18.72% vs RDTE's -24.32%.

Which ETF is better, IWMY or RDTE?

On 1-year performance, RDTE leads with 30.49% vs 21.86% for IWMY. On fees, RDTE is cheaper at 0.97% per year. On volatility, RDTE has been the lower-risk option at 6.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWMY or RDTE?

Over the 1-year period, RDTE has performed better with a 30.49% return vs 21.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWMY or RDTE?

RDTE is cheaper with a 0.97% expense ratio, compared with 0.99% for IWMY.

Which ETF pays a higher dividend yield, IWMY or RDTE?

RDTE has the higher dividend yield at 44.14%, compared with 43.75% for IWMY.

What is the main difference between IWMY and RDTE?

IWMY is categorized as Options Trading, while RDTE is Derivative Income. They also come from different issuers: Defiance and Roundhill. Their fees differ too: 0.99% for IWMY and 0.97% for RDTE.

Which has better risk-adjusted returns?

RDTE currently has the higher Sharpe Ratio (1.78 vs 1.34), 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.