IWMY vs. XDTE

Last updated Aug 4, 2026

IWMY (Defiance R2000 Weekly Distribution ETF) and XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) are both exchange-traded funds - IWMY is a Options Trading fund actively managed by Defiance, while XDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, IWMY returned 21.52% vs 21.36% for XDTE. Their 0.74 correlation means they have sometimes moved together and sometimes differently. IWMY charges 1.05%/yr vs 0.97%/yr for XDTE.

Performance

IWMY vs. XDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance R2000 Weekly Distribution ETF (IWMY) 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, IWMY achieves a 15.27% return, which is significantly higher than XDTE's 10.21% return.

IWMY

• 1D: 1.69%
• 1M: -0.31%
• 6M: 10.17%
• YTD: 15.27%
• 1Y: 21.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.16%

XDTE

• 1D: 1.00%
• 1M: 1.83%
• 6M: 7.46%
• YTD: 10.21%
• 1Y: 21.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.81%

*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)
IWMY Defiance R2000 Weekly Distribution ETF	$647.71K	$735.48K	$1.03M
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	$6.67M	$7.77M	$7.49M

IWMY vs. XDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IWMY Defiance R2000 Weekly Distribution ETF	15.27%	10.18%	5.71%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	10.21%	12.60%	17.12%

Correlation

The correlation between IWMY and XDTE is 0.76, 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.	0.76
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.74

The correlation between IWMY and XDTE has been stable across timeframes, ranging from 0.74 to 0.76 - a consistent structural relationship.

Return for Risk

IWMY vs. XDTE — Risk / Return Rank

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

IWMY

IWMY Risk / Return Rank: 51
IWMY Sharpe Ratio Rank: 53
IWMY Sortino Ratio Rank: 50
IWMY Omega Ratio Rank: 49
IWMY Calmar Ratio Rank: 51
IWMY Martin Ratio Rank: 51

XDTE

XDTE Risk / Return Rank: 78
XDTE Sharpe Ratio Rank: 78
XDTE Sortino Ratio Rank: 75
XDTE Omega Ratio Rank: 77
XDTE Calmar Ratio Rank: 77
XDTE Martin Ratio Rank: 84

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.

IWMY vs. XDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance R2000 Weekly Distribution ETF (IWMY) 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.

	IWMY	XDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.81	-0.48
Sortino ratio: Return per unit of downside risk	1.85	2.44	-0.60
Omega ratio: Gain probability vs. loss probability	1.23	1.32	-0.09
Calmar ratio: Return relative to maximum drawdown	1.87	2.79	-0.92
Martin ratio: Return relative to average drawdown	6.07	11.85	-5.78

IWMY vs. XDTE - Sharpe Ratio Comparison

The current IWMY Sharpe Ratio is 1.33, which is comparable to the XDTE Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of IWMY 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

IWMY vs. XDTE - Drawdown Comparison

The maximum IWMY drawdown since its inception was -18.72%, roughly equal to the maximum XDTE drawdown of -19.09%. Use the drawdown chart below to compare losses from any high point for IWMY and XDTE.

Drawdown Indicators

	IWMY	XDTE	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-19.09%	+0.37%
Max Drawdown (1Y) Largest decline over 1 year	-11.57%	-7.68%	-3.89%
Current Drawdown Current decline from peak	-0.99%	0.00%	-0.99%
Average Drawdown Average peak-to-trough decline	-2.88%	-2.25%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	1.81%	+1.75%

Volatility

IWMY vs. XDTE - Volatility Comparison

Defiance R2000 Weekly Distribution ETF (IWMY) has a higher volatility of 3.81% compared to Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) at 3.61%. This indicates that IWMY'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

	IWMY	XDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.81%	3.61%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	13.49%	9.34%	+4.15%
Volatility (1Y) Calculated over the trailing 1-year period	16.34%	11.90%	+4.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.80%	13.86%	+1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.80%	13.86%	+1.94%

IWMY vs. XDTE - Expense Ratio Comparison

IWMY has a 1.05% expense ratio, which is higher than XDTE's 0.97% expense ratio.

Dividends

IWMY vs. XDTE - Dividend Comparison

IWMY's dividend yield for the trailing twelve months is around 41.16%, more than XDTE's 31.73% yield.

Position	TTM	2025	2024	2023
IWMY Defiance R2000 Weekly Distribution ETF	41.16%	63.33%	107.92%	11.34%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	31.73%	39.16%	20.35%	0.00%

Frequently Asked Questions

Can I hold both IWMY and XDTE in my portfolio?

IWMY and XDTE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWMY or XDTE?

IWMY has higher volatility (3.81%) compared to XDTE (3.61%). In terms of maximum drawdown, IWMY dropped -18.72% vs XDTE's -19.09%.

Which ETF is better, IWMY or XDTE?

On 1-year performance, IWMY leads with 21.52% vs 21.36% for XDTE. On fees, XDTE is cheaper at 0.97% per year. On volatility, XDTE has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWMY or XDTE?

Over the 1-year period, IWMY has performed better with a 21.52% return vs 21.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWMY or XDTE?

XDTE is cheaper with a 0.97% expense ratio, compared with 1.05% for IWMY.

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

IWMY has the higher dividend yield at 41.16%, compared with 31.73% for XDTE.

What is the main difference between IWMY and XDTE?

IWMY is categorized as Options Trading, while XDTE is Derivative Income. They also come from different issuers: Defiance and Roundhill. Their fees differ too: 1.05% for IWMY and 0.97% for XDTE.

Which has better risk-adjusted returns?

XDTE currently has the higher Sharpe Ratio (1.81 vs 1.33), 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.