KHPI vs. ARMW

Last updated Jun 4, 2026

KHPI (Kensington Hedged Premium Income ETF) and ARMW (Roundhill ARM WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. A 0.50 correlation means they provide meaningful diversification when combined. KHPI charges 0.96%/yr vs 0.99%/yr for ARMW.

Performance

KHPI vs. ARMW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kensington Hedged Premium Income ETF (KHPI) and Roundhill ARM WeeklyPay ETF (ARMW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KHPI achieves a 5.45% return, which is significantly lower than ARMW's 363.23% return.

KHPI

• 1D: -0.50%
• 1M: 2.40%
• YTD: 5.45%
• 6M: 4.74%
• 1Y: 15.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARMW

• 1D: 3.44%
• 1M: 128.75%
• YTD: 363.23%
• 6M: 245.13%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KHPI vs. ARMW - Yearly Performance Comparison

	2026 (YTD)	2025
KHPI Kensington Hedged Premium Income ETF	5.45%	1.02%
ARMW Roundhill ARM WeeklyPay ETF	363.23%	-40.49%

Correlation

The correlation between KHPI and ARMW is 0.50, 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 Oct 24, 2025	0.50

Return for Risk

KHPI vs. ARMW — Risk / Return Rank

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

KHPI

KHPI Risk / Return Rank: 60
KHPI Sharpe Ratio Rank: 62
KHPI Sortino Ratio Rank: 65
KHPI Omega Ratio Rank: 64
KHPI Calmar Ratio Rank: 48
KHPI Martin Ratio Rank: 61

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.

KHPI vs. ARMW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kensington Hedged Premium Income ETF (KHPI) 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.

	KHPI	ARMW	Difference
Sharpe ratio: Return per unit of total volatility	2.10	—	—
Sortino ratio: Return per unit of downside risk	3.02	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	2.31	—	—
Martin ratio: Return relative to average drawdown	10.89	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	KHPI	ARMW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.28	4.96	-3.68

Drawdowns

KHPI vs. ARMW - Drawdown Comparison

The maximum KHPI drawdown since its inception was -10.58%, smaller than the maximum ARMW drawdown of -48.47%. Use the drawdown chart below to compare losses from any high point for KHPI and ARMW.

Drawdown Indicators

	KHPI	ARMW	Difference
Max Drawdown Largest peak-to-trough decline	-10.58%	-48.47%	+37.89%
Max Drawdown (1Y) Largest decline over 1 year	-6.55%	—	—
Current Drawdown Current decline from peak	-0.50%	0.00%	-0.50%
Average Drawdown Average peak-to-trough decline	-1.23%	-26.55%	+25.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	—	—

Volatility

Volatility by Period

	KHPI	ARMW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.49%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.24%	88.46%	-81.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.61%	88.46%	-78.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.61%	88.46%	-78.85%

KHPI vs. ARMW - Expense Ratio Comparison

KHPI has a 0.96% expense ratio, which is lower than ARMW's 0.99% expense ratio.

Dividends

KHPI vs. ARMW - Dividend Comparison

KHPI's dividend yield for the trailing twelve months is around 8.86%, less than ARMW's 15.20% yield.

Position	TTM	2025	2024
ARMW Roundhill ARM WeeklyPay ETF	15.20%	16.38%	0.00%
KHPI Kensington Hedged Premium Income ETF	8.86%	8.90%	3.01%

Frequently Asked Questions

Can I hold both KHPI and ARMW in my portfolio?

KHPI and ARMW have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KHPI or ARMW?

On fees, KHPI is cheaper at 0.96% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KHPI or ARMW?

KHPI is cheaper with a 0.96% expense ratio, compared with 0.99% for ARMW.

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

ARMW has the higher dividend yield at 15.20%, compared with 8.86% for KHPI.

What is the main difference between KHPI and ARMW?

They also come from different issuers: Kensington Asset Management and Roundhill Investments. Their fees differ too: 0.96% for KHPI and 0.99% for ARMW.