MAGX vs. XPAY

Last updated Jul 16, 2026

MAGX (Roundhill Daily 2X Long Magnificent Seven ETF) and XPAY (Roundhill S&P 500 Target 20 Managed Distribution ETF) are both exchange-traded funds - MAGX is a Leveraged Equities fund actively managed by Roundhill, while XPAY is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, MAGX returned 35.54% vs 21.54% for XPAY. Their correlation of 0.81 suggests significant overlap in exposure. MAGX charges 0.95%/yr vs 0.49%/yr for XPAY.

Performance

MAGX vs. XPAY - 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 Target 20 Managed Distribution ETF (XPAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAGX achieves a 2.02% return, which is significantly lower than XPAY's 10.82% return.

MAGX

• 1D: 4.45%
• 1M: 5.74%
• 6M: 5.99%
• YTD: 2.02%
• 1Y: 35.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XPAY

• 1D: 0.15%
• 1M: 0.14%
• 6M: 9.36%
• YTD: 10.82%
• 1Y: 21.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MAGX vs. XPAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	2.02%	26.16%	19.90%
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	10.82%	16.78%	1.60%

Correlation

The correlation between MAGX and XPAY is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Oct 31, 2024	0.81

The correlation between MAGX and XPAY has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.

MAGX vs. XPAY - Sectors Allocation Comparison

Sectors	MAGX	XPAY
Financial Services	37.2%	11.1%
Basic Materials	-	1.7%
Communication Services	-	10.6%
Consumer Cyclical	-	9.9%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Healthcare	-	8.3%
Industrials	-	7.8%
Real Estate	-	1.8%
Technology	-	39.0%
Utilities	-	2.1%

Return for Risk

MAGX vs. XPAY — Risk / Return Rank

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

MAGX

MAGX Risk / Return Rank: 27
MAGX Sharpe Ratio Rank: 28
MAGX Sortino Ratio Rank: 29
MAGX Omega Ratio Rank: 27
MAGX Calmar Ratio Rank: 24
MAGX Martin Ratio Rank: 25

XPAY

XPAY Risk / Return Rank: 65
XPAY Sharpe Ratio Rank: 67
XPAY Sortino Ratio Rank: 65
XPAY Omega Ratio Rank: 66
XPAY Calmar Ratio Rank: 57
XPAY Martin Ratio Rank: 70

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. XPAY - 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 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.

	MAGX	XPAY	Difference
Sharpe ratio: Return per unit of total volatility	0.84	1.75	-0.91
Sortino ratio: Return per unit of downside risk	1.33	2.39	-1.06
Omega ratio: Gain probability vs. loss probability	1.16	1.32	-0.15
Calmar ratio: Return relative to maximum drawdown	0.96	2.32	-1.36
Martin ratio: Return relative to average drawdown	2.69	10.07	-7.38

MAGX vs. XPAY - Sharpe Ratio Comparison

The current MAGX Sharpe Ratio is 0.84, which is lower than the XPAY Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of MAGX and XPAY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MAGX vs. XPAY - Drawdown Comparison

The maximum MAGX drawdown since its inception was -54.19%, which is greater than XPAY's maximum drawdown of -18.20%. Use the drawdown chart below to compare losses from any high point for MAGX and XPAY.

Drawdown Indicators

	MAGX	XPAY	Difference
Max Drawdown Largest peak-to-trough decline	-54.19%	-18.20%	-35.99%
Max Drawdown (1Y) Largest decline over 1 year	-37.24%	-9.34%	-27.90%
Current Drawdown Current decline from peak	-7.01%	-0.69%	-6.32%
Average Drawdown Average peak-to-trough decline	-13.85%	-2.35%	-11.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.25%	2.15%	+11.10%

Volatility

MAGX vs. XPAY - Volatility Comparison

Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) has a higher volatility of 16.07% compared to Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY) at 3.78%. This indicates that MAGX's price experiences larger fluctuations and is considered to be riskier than XPAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAGX	XPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.07%	3.78%	+12.29%
Volatility (6M) Calculated over the trailing 6-month period	33.53%	9.81%	+23.72%
Volatility (1Y) Calculated over the trailing 1-year period	42.70%	12.40%	+30.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.65%	16.63%	+37.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.65%	16.63%	+37.02%

MAGX vs. XPAY - Expense Ratio Comparison

MAGX has a 0.95% expense ratio, which is higher than XPAY's 0.49% expense ratio.

Dividends

MAGX vs. XPAY - Dividend Comparison

MAGX's dividend yield for the trailing twelve months is around 2.01%, less than XPAY's 20.87% yield.

Position	TTM	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	2.01%	2.05%	0.86%
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	20.87%	21.21%	3.40%

Frequently Asked Questions

Can I hold both MAGX and XPAY in my portfolio?

MAGX and XPAY 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 is riskier, MAGX or XPAY?

MAGX has higher volatility (16.07%) compared to XPAY (3.78%). In terms of maximum drawdown, MAGX dropped -54.19% vs XPAY's -18.20%.

Which ETF is better, MAGX or XPAY?

On 1-year performance, MAGX leads with 35.54% vs 21.54% for XPAY. On fees, XPAY is cheaper at 0.49% per year. On volatility, XPAY has been the lower-risk option at 3.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGX or XPAY?

Over the 1-year period, MAGX has performed better with a 35.54% return vs 21.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGX or XPAY?

XPAY is cheaper with a 0.49% expense ratio, compared with 0.95% for MAGX.

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

XPAY has the higher dividend yield at 20.87%, compared with 2.01% for MAGX.

What is the main difference between MAGX and XPAY?

MAGX is categorized as Leveraged Equities, while XPAY is Derivative Income. Their fees differ too: 0.95% for MAGX and 0.49% for XPAY.

Which has better risk-adjusted returns?

XPAY currently has the higher Sharpe Ratio (1.75 vs 0.84), 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.