MAGX vs. XDTE

Last updated Jun 4, 2026

MAGX (Roundhill Daily 2X Long Magnificent Seven ETF) and XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) are both exchange-traded funds - MAGX is a Leveraged Equities fund actively managed by Roundhill, while XDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, MAGX returned 50.73% vs 25.68% for XDTE. Their correlation of 0.81 suggests significant overlap in exposure. MAGX charges 0.95%/yr vs 0.97%/yr for XDTE.

Performance

MAGX vs. XDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) 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, MAGX achieves a 1.49% return, which is significantly lower than XDTE's 8.83% return.

MAGX

• 1D: -2.59%
• 1M: 3.29%
• YTD: 1.49%
• 6M: 0.41%
• 1Y: 50.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XDTE

• 1D: -0.66%
• 1M: 4.14%
• YTD: 8.83%
• 6M: 8.93%
• 1Y: 25.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MAGX vs. XDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	1.49%	26.16%	75.36%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	8.83%	12.60%	16.39%

Correlation

The correlation between MAGX and XDTE is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.81

The correlation between MAGX and XDTE has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.

MAGX vs. XDTE - Sectors Allocation Comparison

Sectors	MAGX	XDTE
Financial Services	25.0%	11.8%
Basic Materials	-	1.8%
Communication Services	-	11.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Healthcare	-	8.5%
Industrials	-	8.3%
Real Estate	-	1.9%
Technology	-	35.6%
Utilities	-	2.4%

Return for Risk

MAGX vs. XDTE — Risk / Return Rank

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

MAGX

MAGX Risk / Return Rank: 31
MAGX Sharpe Ratio Rank: 35
MAGX Sortino Ratio Rank: 33
MAGX Omega Ratio Rank: 32
MAGX Calmar Ratio Rank: 28
MAGX Martin Ratio Rank: 29

XDTE

XDTE Risk / Return Rank: 70
XDTE Sharpe Ratio Rank: 70
XDTE Sortino Ratio Rank: 67
XDTE Omega Ratio Rank: 70
XDTE Calmar Ratio Rank: 66
XDTE Martin Ratio Rank: 78

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.

MAGX vs. XDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) 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.

	MAGX	XDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.28	2.35	-1.07
Sortino ratio: Return per unit of downside risk	1.79	3.15	-1.36
Omega ratio: Gain probability vs. loss probability	1.22	1.43	-0.21
Calmar ratio: Return relative to maximum drawdown	1.37	3.36	-1.99
Martin ratio: Return relative to average drawdown	4.21	15.35	-11.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAGX vs. XDTE - Sharpe Ratio Comparison

The current MAGX Sharpe Ratio is 1.28, which is lower than the XDTE Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of MAGX 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

	MAGX	XDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	2.35	-1.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	1.25	-0.40

Drawdowns

MAGX vs. XDTE - Drawdown Comparison

The maximum MAGX drawdown since its inception was -54.19%, which is greater than XDTE's maximum drawdown of -19.09%. Use the drawdown chart below to compare losses from any high point for MAGX and XDTE.

Drawdown Indicators

	MAGX	XDTE	Difference
Max Drawdown Largest peak-to-trough decline	-54.19%	-19.09%	-35.10%
Max Drawdown (1Y) Largest decline over 1 year	-37.24%	-7.68%	-29.56%
Current Drawdown Current decline from peak	-7.49%	-0.66%	-6.83%
Average Drawdown Average peak-to-trough decline	-13.78%	-2.32%	-11.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.09%	1.68%	+10.41%

Volatility

MAGX vs. XDTE - Volatility Comparison

Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) has a higher volatility of 9.19% compared to Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) at 2.53%. This indicates that MAGX'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

	MAGX	XDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.19%	2.53%	+6.66%
Volatility (6M) Calculated over the trailing 6-month period	28.81%	8.28%	+20.53%
Volatility (1Y) Calculated over the trailing 1-year period	39.88%	10.99%	+28.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.52%	13.85%	+39.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.52%	13.85%	+39.67%

MAGX vs. XDTE - Expense Ratio Comparison

MAGX has a 0.95% expense ratio, which is lower than XDTE's 0.97% expense ratio.

Dividends

MAGX vs. XDTE - Dividend Comparison

MAGX's dividend yield for the trailing twelve months is around 2.02%, less than XDTE's 33.00% yield.

Position	TTM	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	2.02%	2.05%	0.86%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.00%	39.16%	20.35%

Frequently Asked Questions

Can I hold both MAGX and XDTE in my portfolio?

MAGX and XDTE have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGX or XDTE?

MAGX has higher volatility (9.19%) compared to XDTE (2.53%). In terms of maximum drawdown, MAGX dropped -54.19% vs XDTE's -19.09%.

Which ETF is better, MAGX or XDTE?

On 1-year performance, MAGX leads with 50.73% vs 25.68% for XDTE. On fees, MAGX is cheaper at 0.95% per year. On volatility, XDTE has been the lower-risk option at 2.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGX or XDTE?

Over the 1-year period, MAGX has performed better with a 50.73% return vs 25.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGX or XDTE?

MAGX is cheaper with a 0.95% expense ratio, compared with 0.97% for XDTE.

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

XDTE has the higher dividend yield at 33.00%, compared with 2.02% for MAGX.

What is the main difference between MAGX and XDTE?

MAGX is categorized as Leveraged Equities, while XDTE is Derivative Income. Their fees differ too: 0.95% for MAGX and 0.97% for XDTE.

Which has better risk-adjusted returns?

XDTE currently has the higher Sharpe Ratio (2.35 vs 1.28), 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.