MSFW vs. CALI
MSFW (Roundhill MSFT WeeklyPay™ ETF) and CALI (iShares Short-Term California Muni Active ETF) are both exchange-traded funds - MSFW is a Derivative Income fund actively managed by Roundhill, while CALI is a Municipal Bonds fund tracking the ICE AMT-Free California Municipal Index. MSFW is actively managed, while CALI is passively managed. At a correlation of -0.04, they often move in opposite directions. MSFW charges 0.99%/yr vs 0.08%/yr for CALI.
Performance
MSFW vs. CALI - Performance Comparison
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Returns By Period
In the year-to-date period, MSFW achieves a -21.45% return, which is significantly lower than CALI's 1.10% return.
MSFW
- 1D
- 1.71%
- 1M
- 1.75%
- 6M
- -15.87%
- YTD
- -21.45%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CALI
- 1D
- -0.02%
- 1M
- 0.07%
- 6M
- 0.85%
- YTD
- 1.10%
- 1Y
- 2.64%
- 3Y*
- 3.07%
- 5Y*
- —
- 10Y*
- —
MSFW vs. CALI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSFW Roundhill MSFT WeeklyPay™ ETF | -21.45% | -7.80% |
CALI iShares Short-Term California Muni Active ETF | 1.10% | 1.42% |
Correlation
The correlation between MSFW and CALI is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025 | -0.04 |
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Return for Risk
MSFW vs. CALI — Risk / Return Rank
MSFW
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CALI
MSFW vs. CALI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill MSFT WeeklyPay™ ETF (MSFW) and iShares Short-Term California Muni Active ETF (CALI). 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.
| MSFW | CALI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.89 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.96 | — |
| Martin ratioReturn relative to average drawdown | — | 20.36 | — |
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Drawdowns
MSFW vs. CALI - Drawdown Comparison
The maximum MSFW drawdown since its inception was -41.85%, which is greater than CALI's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for MSFW and CALI.
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Drawdown Indicators
| MSFW | CALI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.85% | -0.78% | -41.07% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.67% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.78% | — |
Current DrawdownCurrent decline from peak | -32.08% | -0.04% | -32.04% |
Average DrawdownAverage peak-to-trough decline | -19.41% | -0.08% | -19.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.13% | — |
Volatility
MSFW vs. CALI - Volatility Comparison
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Volatility by Period
| MSFW | CALI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.13% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.52% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 33.58% | 0.71% | +32.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.58% | 1.09% | +32.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.58% | 1.09% | +32.49% |
MSFW vs. CALI - Expense Ratio Comparison
MSFW has a 0.99% expense ratio, which is higher than CALI's 0.08% expense ratio.
Dividends
MSFW vs. CALI - Dividend Comparison
MSFW's dividend yield for the trailing twelve months is around 48.07%, more than CALI's 2.54% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CALI iShares Short-Term California Muni Active ETF | 2.54% | 2.62% | 3.14% | 1.37% |
MSFW Roundhill MSFT WeeklyPay™ ETF | 48.07% | 20.25% | 0.00% | 0.00% |
Frequently Asked Questions
MSFW and CALI have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CALI is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CALI is cheaper with a 0.08% expense ratio, compared with 0.99% for MSFW.
MSFW has the higher dividend yield at 48.07%, compared with 2.54% for CALI.
MSFW is categorized as Derivative Income, while CALI is Municipal Bonds. They also come from different issuers: Roundhill and iShares. Their fees differ too: 0.99% for MSFW and 0.08% for CALI.
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