JELM vs. ARMW

Last updated Aug 5, 2026

JELM (Janus Henderson Equity Linked Moderate Income ETF) and ARMW (Roundhill ARM WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. Their -0.03 correlation means they have often moved in opposite directions in the past. JELM charges 0.59%/yr vs 0.99%/yr for ARMW.

Performance

JELM vs. ARMW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Equity Linked Moderate Income ETF (JELM) and Roundhill ARM WeeklyPay ETF (ARMW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

JELM

• 1D: 0.20%
• 1M: 1.29%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

ARMW

• 1D: 21.87%
• 1M: -13.39%
• 6M: 202.81%
• YTD: 184.82%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
ARMW Roundhill ARM WeeklyPay ETF	$3.27M	$4.47M	$4.19M
JELM Janus Henderson Equity Linked Moderate Income ETF	$199.95K	$786.17K	$963.17K

JELM vs. ARMW - Yearly Performance Comparison

	2026 (YTD)
JELM Janus Henderson Equity Linked Moderate Income ETF	2.35%
ARMW Roundhill ARM WeeklyPay ETF	66.22%

Correlation

The correlation between JELM and ARMW is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 22, 2026	-0.03

Return for Risk

JELM vs. ARMW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Equity Linked Moderate Income ETF (JELM) and Roundhill ARM WeeklyPay ETF (ARMW). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

JELM vs. ARMW - Drawdown Comparison

The maximum JELM drawdown since its inception was -0.69%, smaller than the maximum ARMW drawdown of -56.50%. Use the drawdown chart below to compare losses from any high point for JELM and ARMW.

Drawdown Indicators

	JELM	ARMW	Difference
Max Drawdown Largest peak-to-trough decline	-0.69%	-56.50%	+55.81%
Current Drawdown Current decline from peak	-0.25%	-42.68%	+42.43%
Average Drawdown Average peak-to-trough decline	-0.21%	-27.39%	+27.18%

Volatility

Volatility by Period

	JELM	ARMW	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	98.62%	-94.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.69%	98.62%	-94.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.69%	98.62%	-94.93%

JELM vs. ARMW - Expense Ratio Comparison

JELM has a 0.59% expense ratio, which is lower than ARMW's 0.99% expense ratio.

Dividends

JELM vs. ARMW - Dividend Comparison

JELM's dividend yield for the trailing twelve months is around 1.21%, less than ARMW's 54.31% yield.

Position	TTM	2025
ARMW Roundhill ARM WeeklyPay ETF	54.31%	16.38%
JELM Janus Henderson Equity Linked Moderate Income ETF	1.21%	0.00%

Frequently Asked Questions

Can I hold both JELM and ARMW in my portfolio?

JELM and ARMW have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JELM or ARMW?

On fees, JELM is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JELM or ARMW?

JELM is cheaper with a 0.59% expense ratio, compared with 0.99% for ARMW.

Which ETF pays a higher dividend yield, JELM or ARMW?

ARMW has the higher dividend yield at 54.31%, compared with 1.21% for JELM.

What is the main difference between JELM and ARMW?

They also come from different issuers: Janus Henderson and Roundhill. Their fees differ too: 0.59% for JELM and 0.99% for ARMW.