IWN vs. XDTE

Last updated Jun 9, 2026

IWN (iShares Russell 2000 Value ETF) and XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) are both exchange-traded funds - IWN is a Small Cap Value Equities fund tracking the Russell 2000 Value Index, while XDTE is a Derivative Income fund actively managed by Roundhill. IWN is passively managed, while XDTE is actively managed. Over the past year, IWN returned 39.09% vs 22.20% for XDTE. A 0.68 correlation means they provide meaningful diversification when combined. IWN charges 0.24%/yr vs 0.97%/yr for XDTE.

Performance

IWN vs. XDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 Value ETF (IWN) 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, IWN achieves a 16.90% return, which is significantly higher than XDTE's 6.69% return.

IWN

• 1D: 0.86%
• 1M: -0.18%
• YTD: 16.90%
• 6M: 16.09%
• 1Y: 39.09%
• 3Y*: 16.65%
• 5Y*: 6.08%
• 10Y*: 10.05%

XDTE

• 1D: 0.31%
• 1M: -0.27%
• YTD: 6.69%
• 6M: 6.52%
• 1Y: 22.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IWN vs. XDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IWN iShares Russell 2000 Value ETF	16.90%	12.40%	8.98%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	6.69%	12.60%	17.12%

Correlation

The correlation between IWN and XDTE is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.68

The correlation between IWN and XDTE has been stable across timeframes, ranging from 0.68 to 0.69 - a consistent structural relationship.

IWN vs. XDTE - Sectors Allocation Comparison

Sectors	IWN	XDTE
Financial Services	24.2%	11.8%
Technology	12.4%	35.6%
Industrials	11.1%	8.3%
Real Estate	10.2%	1.9%
Energy	9.2%	3.5%
Healthcare	8.8%	8.5%
Consumer Cyclical	8.7%	10.1%
Utilities	5.7%	2.4%
Basic Materials	5.4%	1.8%
Consumer Defensive	2.0%	4.9%
Communication Services	1.6%	11.2%

Return for Risk

IWN vs. XDTE — Risk / Return Rank

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

IWN

IWN Risk / Return Rank: 78
IWN Sharpe Ratio Rank: 75
IWN Sortino Ratio Rank: 76
IWN Omega Ratio Rank: 69
IWN Calmar Ratio Rank: 88
IWN Martin Ratio Rank: 84

XDTE

XDTE Risk / Return Rank: 68
XDTE Sharpe Ratio Rank: 67
XDTE Sortino Ratio Rank: 63
XDTE Omega Ratio Rank: 68
XDTE Calmar Ratio Rank: 64
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.

IWN vs. XDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Value ETF (IWN) 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.

	IWN	XDTE	Difference
Sharpe ratio: Return per unit of total volatility	2.19	1.99	+0.20
Sortino ratio: Return per unit of downside risk	3.07	2.64	+0.43
Omega ratio: Gain probability vs. loss probability	1.37	1.37	+0.01
Calmar ratio: Return relative to maximum drawdown	4.65	2.90	+1.75
Martin ratio: Return relative to average drawdown	15.56	13.13	+2.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWN vs. XDTE - Sharpe Ratio Comparison

The current IWN Sharpe Ratio is 2.19, which is comparable to the XDTE Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of IWN 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.

Sharpe Ratios by Period

	IWN	XDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	1.99	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	1.16	-0.77

Drawdowns

IWN vs. XDTE - Drawdown Comparison

The maximum IWN drawdown since its inception was -61.55%, which is greater than XDTE's maximum drawdown of -19.09%. Use the drawdown chart below to compare losses from any high point for IWN and XDTE.

Drawdown Indicators

	IWN	XDTE	Difference
Max Drawdown Largest peak-to-trough decline	-61.55%	-19.09%	-42.46%
Max Drawdown (1Y) Largest decline over 1 year	-8.45%	-7.68%	-0.77%
Max Drawdown (3Y) Largest decline over 3 years	-26.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.70%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.08%	—	—
Current Drawdown Current decline from peak	-1.91%	-2.61%	+0.70%
Average Drawdown Average peak-to-trough decline	-10.15%	-2.31%	-7.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	1.69%	+0.83%

Volatility

IWN vs. XDTE - Volatility Comparison

iShares Russell 2000 Value ETF (IWN) has a higher volatility of 5.31% compared to Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) at 3.50%. This indicates that IWN'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

	IWN	XDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	3.50%	+1.81%
Volatility (6M) Calculated over the trailing 6-month period	12.13%	8.68%	+3.45%
Volatility (1Y) Calculated over the trailing 1-year period	17.99%	11.25%	+6.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.47%	13.92%	+7.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.41%	13.92%	+9.49%

IWN vs. XDTE - Expense Ratio Comparison

IWN has a 0.24% expense ratio, which is lower than XDTE's 0.97% expense ratio.

Dividends

IWN vs. XDTE - Dividend Comparison

IWN's dividend yield for the trailing twelve months is around 1.46%, less than XDTE's 33.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWN iShares Russell 2000 Value ETF	1.46%	1.70%	1.80%	2.04%	2.12%	1.48%	1.60%	1.92%	1.99%	1.78%	1.74%	2.15%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.68%	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 IWN and XDTE in my portfolio?

IWN and XDTE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWN or XDTE?

IWN has higher volatility (5.31%) compared to XDTE (3.50%). In terms of maximum drawdown, IWN dropped -61.55% vs XDTE's -19.09%.

Which ETF is better, IWN or XDTE?

On 1-year performance, IWN leads with 39.09% vs 22.20% for XDTE. On fees, IWN is cheaper at 0.24% per year. On volatility, XDTE has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWN or XDTE?

Over the 1-year period, IWN has performed better with a 39.09% return vs 22.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWN or XDTE?

IWN is cheaper with a 0.24% expense ratio, compared with 0.97% for XDTE.

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

XDTE has the higher dividend yield at 33.68%, compared with 1.46% for IWN.

What is the main difference between IWN and XDTE?

IWN is categorized as Small Cap Value Equities, while XDTE is Derivative Income. They also come from different issuers: iShares and Roundhill. Their fees differ too: 0.24% for IWN and 0.97% for XDTE.

Which has better risk-adjusted returns?

IWN currently has the higher Sharpe Ratio (2.19 vs 1.99), 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.