METW vs. XDTE

Last updated Jul 17, 2026

METW (Roundhill Meta Weeklypay ETF) and XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) are both exchange-traded funds - METW is a Technology Equities fund tracking the Ball Metaverse Index, while XDTE is a Derivative Income fund actively managed by Roundhill. METW is passively managed, while XDTE is actively managed. Over the past year, METW returned -11.12% vs 20.07% for XDTE. A 0.54 correlation means they provide meaningful diversification when combined. METW charges 0.59%/yr vs 0.97%/yr for XDTE.

Performance

METW vs. XDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Meta Weeklypay ETF (METW) 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, METW achieves a -2.29% return, which is significantly lower than XDTE's 9.30% return.

METW

• 1D: -3.04%
• 1M: 12.30%
• 6M: 5.60%
• YTD: -2.29%
• 1Y: -11.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XDTE

• 1D: -0.45%
• 1M: 0.83%
• 6M: 7.46%
• YTD: 9.30%
• 1Y: 20.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

METW vs. XDTE - Yearly Performance Comparison

	2026 (YTD)	2025
METW Roundhill Meta Weeklypay ETF	-2.29%	-9.14%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	9.30%	14.95%

Correlation

The correlation between METW and XDTE is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.54

The correlation between METW and XDTE has been stable across timeframes, ranging from 0.53 to 0.54 - a consistent structural relationship.

METW vs. XDTE - Sectors Allocation Comparison

Sectors	METW	XDTE
Communication Services	23.8%	10.6%
Basic Materials	-	1.7%
Consumer Cyclical	-	9.9%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Financial Services	-	11.1%
Healthcare	-	8.3%
Industrials	-	7.8%
Real Estate	-	1.8%
Technology	-	39.0%
Utilities	-	2.1%

Return for Risk

METW vs. XDTE — Risk / Return Rank

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

METW

METW Risk / Return Rank: 7
METW Sharpe Ratio Rank: 7
METW Sortino Ratio Rank: 8
METW Omega Ratio Rank: 8
METW Calmar Ratio Rank: 7
METW Martin Ratio Rank: 7

XDTE

XDTE Risk / Return Rank: 67
XDTE Sharpe Ratio Rank: 66
XDTE Sortino Ratio Rank: 63
XDTE Omega Ratio Rank: 66
XDTE Calmar Ratio Rank: 65
XDTE Martin Ratio Rank: 76

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.

METW vs. XDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Meta Weeklypay ETF (METW) 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.

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.

	METW	XDTE	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	1.74	-1.98
Sortino ratio: Return per unit of downside risk	-0.04	2.35	-2.39
Omega ratio: Gain probability vs. loss probability	0.99	1.32	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.28	2.62	-2.90
Martin ratio: Return relative to average drawdown	-0.50	11.29	-11.79

METW vs. XDTE - Sharpe Ratio Comparison

The current METW Sharpe Ratio is -0.24, which is lower than the XDTE Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of METW 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.

Drawdowns

METW vs. XDTE - Drawdown Comparison

The maximum METW drawdown since its inception was -40.52%, which is greater than XDTE's maximum drawdown of -19.09%. Use the drawdown chart below to compare losses from any high point for METW and XDTE.

Drawdown Indicators

	METW	XDTE	Difference
Max Drawdown Largest peak-to-trough decline	-40.52%	-19.09%	-21.43%
Max Drawdown (1Y) Largest decline over 1 year	-40.52%	-7.68%	-32.84%
Current Drawdown Current decline from peak	-22.47%	-0.45%	-22.02%
Average Drawdown Average peak-to-trough decline	-18.77%	-2.27%	-16.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.42%	1.78%	+20.64%

Volatility

METW vs. XDTE - Volatility Comparison

Roundhill Meta Weeklypay ETF (METW) has a higher volatility of 18.87% compared to Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) at 3.14%. This indicates that METW'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

	METW	XDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.87%	3.14%	+15.73%
Volatility (6M) Calculated over the trailing 6-month period	37.21%	9.20%	+28.01%
Volatility (1Y) Calculated over the trailing 1-year period	46.05%	11.62%	+34.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.04%	13.85%	+31.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.04%	13.85%	+31.19%

METW vs. XDTE - Expense Ratio Comparison

METW has a 0.59% expense ratio, which is lower than XDTE's 0.97% expense ratio.

Dividends

METW vs. XDTE - Dividend Comparison

METW's dividend yield for the trailing twelve months is around 53.86%, more than XDTE's 33.20% yield.

Position	TTM	2025	2024
METW Roundhill Meta Weeklypay ETF	53.86%	30.89%	0.00%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.20%	39.16%	20.35%

Frequently Asked Questions

Can I hold both METW and XDTE in my portfolio?

METW and XDTE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, METW or XDTE?

METW has higher volatility (18.87%) compared to XDTE (3.14%). In terms of maximum drawdown, METW dropped -40.52% vs XDTE's -19.09%.

Which ETF is better, METW or XDTE?

On 1-year performance, XDTE leads with 20.07% vs -11.12% for METW. On fees, METW is cheaper at 0.59% per year. On volatility, XDTE has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, METW or XDTE?

Over the 1-year period, XDTE has performed better with a 20.07% return vs -11.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, METW or XDTE?

METW is cheaper with a 0.59% expense ratio, compared with 0.97% for XDTE.

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

METW has the higher dividend yield at 53.86%, compared with 33.20% for XDTE.

What is the main difference between METW and XDTE?

METW is categorized as Technology Equities, while XDTE is Derivative Income. Their fees differ too: 0.59% for METW and 0.97% for XDTE.

Which has better risk-adjusted returns?

XDTE currently has the higher Sharpe Ratio (1.74 vs -0.24), 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.