IYW vs. TOPW

Last updated Jun 14, 2026

IYW (iShares U.S. Technology ETF) and TOPW (Roundhill Top WeeklyPay ETF) are both exchange-traded funds - IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index, while TOPW is a Derivative Income fund tracking the Solactive Roundhill WeeklyPay Universe Index. Both are passively managed. A 0.80 correlation means they provide meaningful diversification when combined. IYW charges 0.38%/yr vs 0.99%/yr for TOPW.

Performance

IYW vs. TOPW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Technology ETF (IYW) and Roundhill Top WeeklyPay ETF (TOPW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IYW achieves a 22.66% return, which is significantly higher than TOPW's -0.72% return.

IYW

• 1D: 0.61%
• 1M: 2.53%
• YTD: 22.66%
• 6M: 23.40%
• 1Y: 50.17%
• 3Y*: 32.06%
• 5Y*: 21.19%
• 10Y*: 25.63%

TOPW

• 1D: -0.23%
• 1M: -8.87%
• YTD: -0.72%
• 6M: -5.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IYW vs. TOPW - Yearly Performance Comparison

	2026 (YTD)	2025
IYW iShares U.S. Technology ETF	22.66%	9.89%
TOPW Roundhill Top WeeklyPay ETF	-0.72%	-1.33%

Correlation

The correlation between IYW and TOPW is 0.80, 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 Sep 4, 2025	0.80

Return for Risk

IYW vs. TOPW — Risk / Return Rank

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

IYW

IYW Risk / Return Rank: 69
IYW Sharpe Ratio Rank: 81
IYW Sortino Ratio Rank: 73
IYW Omega Ratio Rank: 74
IYW Calmar Ratio Rank: 62
IYW Martin Ratio Rank: 56

TOPW

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.

IYW vs. TOPW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) and Roundhill Top WeeklyPay ETF (TOPW). 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.

	IYW	TOPW	Difference
Sharpe ratio: Return per unit of total volatility	2.24	—	—
Sortino ratio: Return per unit of downside risk	2.82	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	2.70	—	—
Martin ratio: Return relative to average drawdown	8.68	—	—

Drawdowns

IYW vs. TOPW - Drawdown Comparison

The maximum IYW drawdown since its inception was -81.90%, which is greater than TOPW's maximum drawdown of -29.87%. Use the drawdown chart below to compare losses from any high point for IYW and TOPW.

Drawdown Indicators

	IYW	TOPW	Difference
Max Drawdown Largest peak-to-trough decline	-81.90%	-29.87%	-52.03%
Max Drawdown (1Y) Largest decline over 1 year	-17.81%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-26.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-39.44%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.44%	—	—
Current Drawdown Current decline from peak	-5.81%	-17.05%	+11.24%
Average Drawdown Average peak-to-trough decline	-34.62%	-12.90%	-21.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.54%	—	—

Volatility

Volatility by Period

	IYW	TOPW	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.41%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.47%	27.52%	-6.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.07%	27.52%	-1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.20%	27.52%	-2.32%

IYW vs. TOPW - Expense Ratio Comparison

IYW has a 0.38% expense ratio, which is lower than TOPW's 0.99% expense ratio.

Dividends

IYW vs. TOPW - Dividend Comparison

IYW's dividend yield for the trailing twelve months is around 0.11%, less than TOPW's 44.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IYW iShares U.S. Technology ETF	0.11%	0.14%	0.21%	0.34%	0.50%	0.31%	0.56%	0.72%	0.92%	0.82%	1.14%	1.12%
TOPW Roundhill Top WeeklyPay ETF	44.93%	21.52%	0.00%	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 IYW and TOPW in my portfolio?

IYW and TOPW have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IYW or TOPW?

On fees, IYW is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IYW or TOPW?

IYW is cheaper with a 0.38% expense ratio, compared with 0.99% for TOPW.

Which ETF pays a higher dividend yield, IYW or TOPW?

TOPW has the higher dividend yield at 44.93%, compared with 0.11% for IYW.

What is the main difference between IYW and TOPW?

IYW is categorized as Technology Equities, while TOPW is Derivative Income. IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while TOPW tracks Solactive Roundhill WeeklyPay Universe Index. They also come from different issuers: iShares and Roundhill Investments. Their fees differ too: 0.38% for IYW and 0.99% for TOPW.