MAGY vs. WDTE

Last updated Jun 23, 2026

MAGY (Roundhill Magnificent Seven Covered Call ETF) and WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, MAGY returned 6.22% vs 21.42% for WDTE. A 0.71 correlation means they provide meaningful diversification when combined. MAGY charges 0.99%/yr vs 1.01%/yr for WDTE.

Performance

MAGY vs. WDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Magnificent Seven Covered Call ETF (MAGY) and Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAGY achieves a -6.36% return, which is significantly lower than WDTE's 9.31% return.

MAGY

• 1D: -1.89%
• 1M: -6.07%
• YTD: -6.36%
• 6M: -6.60%
• 1Y: 6.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WDTE

• 1D: -0.09%
• 1M: -0.26%
• YTD: 9.31%
• 6M: 9.03%
• 1Y: 21.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MAGY vs. WDTE - Yearly Performance Comparison

	2026 (YTD)	2025
MAGY Roundhill Magnificent Seven Covered Call ETF	-6.36%	26.42%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	9.31%	25.65%

Correlation

The correlation between MAGY and WDTE is 0.72, 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	0.72
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	0.71

The correlation between MAGY and WDTE has been stable across timeframes, ranging from 0.71 to 0.72 - a consistent structural relationship.

MAGY vs. WDTE - Sectors Allocation Comparison

Sectors	MAGY	WDTE
Financial Services	100.0%	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

MAGY vs. WDTE — Risk / Return Rank

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

MAGY

MAGY Risk / Return Rank: 14
MAGY Sharpe Ratio Rank: 14
MAGY Sortino Ratio Rank: 13
MAGY Omega Ratio Rank: 14
MAGY Calmar Ratio Rank: 13
MAGY Martin Ratio Rank: 15

WDTE

WDTE Risk / Return Rank: 63
WDTE Sharpe Ratio Rank: 61
WDTE Sortino Ratio Rank: 56
WDTE Omega Ratio Rank: 67
WDTE Calmar Ratio Rank: 58
WDTE Martin Ratio Rank: 72

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.

MAGY vs. WDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Magnificent Seven Covered Call ETF (MAGY) and Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE). 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.

	MAGY	WDTE	Difference
Sharpe ratio: Return per unit of total volatility	0.41	1.98	-1.57
Sortino ratio: Return per unit of downside risk	0.62	2.59	-1.96
Omega ratio: Gain probability vs. loss probability	1.09	1.39	-0.30
Calmar ratio: Return relative to maximum drawdown	0.44	2.81	-2.38
Martin ratio: Return relative to average drawdown	1.37	13.06	-11.69

MAGY vs. WDTE - Sharpe Ratio Comparison

The current MAGY Sharpe Ratio is 0.41, which is lower than the WDTE Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of MAGY and WDTE, 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

MAGY vs. WDTE - Drawdown Comparison

The maximum MAGY drawdown since its inception was -14.29%, smaller than the maximum WDTE drawdown of -15.85%. Use the drawdown chart below to compare losses from any high point for MAGY and WDTE.

Drawdown Indicators

	MAGY	WDTE	Difference
Max Drawdown Largest peak-to-trough decline	-14.29%	-15.85%	+1.56%
Max Drawdown (1Y) Largest decline over 1 year	-14.29%	-7.65%	-6.64%
Current Drawdown Current decline from peak	-8.40%	-1.68%	-6.72%
Average Drawdown Average peak-to-trough decline	-2.86%	-1.83%	-1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.56%	1.64%	+2.92%

Volatility

MAGY vs. WDTE - Volatility Comparison

Roundhill Magnificent Seven Covered Call ETF (MAGY) has a higher volatility of 6.73% compared to Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) at 4.24%. This indicates that MAGY's price experiences larger fluctuations and is considered to be riskier than WDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAGY	WDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.73%	4.24%	+2.49%
Volatility (6M) Calculated over the trailing 6-month period	12.73%	9.22%	+3.51%
Volatility (1Y) Calculated over the trailing 1-year period	15.36%	10.90%	+4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.43%	11.49%	+3.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.43%	11.49%	+3.94%

MAGY vs. WDTE - Expense Ratio Comparison

MAGY has a 0.99% expense ratio, which is lower than WDTE's 1.01% expense ratio.

Dividends

MAGY vs. WDTE - Dividend Comparison

MAGY's dividend yield for the trailing twelve months is around 39.51%, more than WDTE's 32.54% yield.

Position	TTM	2025	2024	2023
MAGY Roundhill Magnificent Seven Covered Call ETF	39.51%	23.38%	0.00%	0.00%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	32.54%	35.78%	51.80%	16.41%

Frequently Asked Questions

Can I hold both MAGY and WDTE in my portfolio?

MAGY and WDTE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGY or WDTE?

MAGY has higher volatility (6.73%) compared to WDTE (4.24%). In terms of maximum drawdown, MAGY dropped -14.29% vs WDTE's -15.85%.

Which ETF is better, MAGY or WDTE?

On 1-year performance, WDTE leads with 21.42% vs 6.22% for MAGY. On fees, MAGY is cheaper at 0.99% per year. On volatility, WDTE has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGY or WDTE?

Over the 1-year period, WDTE has performed better with a 21.42% return vs 6.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGY or WDTE?

MAGY is cheaper with a 0.99% expense ratio, compared with 1.01% for WDTE.

Which ETF pays a higher dividend yield, MAGY or WDTE?

MAGY has the higher dividend yield at 39.51%, compared with 32.54% for WDTE.

What is the main difference between MAGY and WDTE?

They also come from different issuers: Roundhill and Defiance. Their fees differ too: 0.99% for MAGY and 1.01% for WDTE.

Which has better risk-adjusted returns?

WDTE currently has the higher Sharpe Ratio (1.98 vs 0.41), 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.