LOHA vs. XPAY

Last updated Jun 26, 2026

LOHA (Roundhill HALO ETF) and XPAY (Roundhill S&P 500 Target 20 Managed Distribution ETF) are both exchange-traded funds - LOHA is a Large Cap Blend Equities fund tracking the Akros U.S. Heavy Assets Low Obsolescence (HALO) Index, while XPAY is a Derivative Income fund actively managed by Roundhill. LOHA is passively managed, while XPAY is actively managed. At a 0.44 correlation, their price movements are largely independent. LOHA charges 0.35%/yr vs 0.49%/yr for XPAY.

Performance

LOHA vs. XPAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill HALO ETF (LOHA) and Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LOHA

• 1D: 1.56%
• 1M: 2.99%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XPAY

• 1D: 0.17%
• 1M: -2.04%
• YTD: 8.06%
• 6M: 6.84%
• 1Y: 21.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LOHA vs. XPAY - Yearly Performance Comparison

	2026 (YTD)
LOHA Roundhill HALO ETF	2.99%
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	-0.97%

Correlation

The correlation between LOHA and XPAY is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 14, 2026	0.44

Return for Risk

LOHA vs. XPAY — Risk / Return Rank

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

LOHA

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

XPAY

XPAY Risk / Return Rank: 60
XPAY Sharpe Ratio Rank: 62
XPAY Sortino Ratio Rank: 58
XPAY Omega Ratio Rank: 60
XPAY Calmar Ratio Rank: 54
XPAY Martin Ratio Rank: 65

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.

LOHA vs. XPAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill HALO ETF (LOHA) and Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY). 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.

	LOHA	XPAY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.77	—
Sortino ratio: Return per unit of downside risk	—	2.41	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	2.33	—
Martin ratio: Return relative to average drawdown	—	10.28	—

Drawdowns

LOHA vs. XPAY - Drawdown Comparison

The maximum LOHA drawdown since its inception was -2.48%, smaller than the maximum XPAY drawdown of -18.20%. Use the drawdown chart below to compare losses from any high point for LOHA and XPAY.

Drawdown Indicators

	LOHA	XPAY	Difference
Max Drawdown Largest peak-to-trough decline	-2.48%	-18.20%	+15.72%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.34%	—
Current Drawdown Current decline from peak	0.00%	-3.17%	+3.17%
Average Drawdown Average peak-to-trough decline	-0.90%	-2.38%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.11%	—

Volatility

Volatility by Period

	LOHA	XPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.66%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.09%	12.32%	+2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.09%	16.80%	-1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.09%	16.80%	-1.71%

LOHA vs. XPAY - Expense Ratio Comparison

LOHA has a 0.35% expense ratio, which is lower than XPAY's 0.49% expense ratio.

Dividends

LOHA vs. XPAY - Dividend Comparison

LOHA has not paid dividends to shareholders, while XPAY's dividend yield for the trailing twelve months is around 21.15%.

Position	TTM	2025	2024
LOHA Roundhill HALO ETF	0.00%	0.00%	0.00%
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	21.15%	21.21%	3.40%

Frequently Asked Questions

Can I hold both LOHA and XPAY in my portfolio?

LOHA and XPAY have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LOHA or XPAY?

On fees, LOHA is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LOHA or XPAY?

LOHA is cheaper with a 0.35% expense ratio, compared with 0.49% for XPAY.

Which ETF pays a higher dividend yield, LOHA or XPAY?

XPAY has the higher dividend yield at 21.15%, compared with 0.00% for LOHA.

What is the main difference between LOHA and XPAY?

LOHA is categorized as Large Cap Blend Equities, while XPAY is Derivative Income. Their fees differ too: 0.35% for LOHA and 0.49% for XPAY.