MSTW vs. HYGW
MSTW (Roundhill MSTR WeeklyPay™ ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both Derivative Income funds. MSTW is actively managed, while HYGW is passively managed. Over the past year, MSTW returned -83.12% vs 5.90% for HYGW. Their 0.37 correlation means their historical movements had little consistent relationship. MSTW charges 0.99%/yr vs 0.69%/yr for HYGW.
Performance
MSTW vs. HYGW - Performance Comparison
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Returns By Period
In the year-to-date period, MSTW achieves a -49.11% return, which is significantly lower than HYGW's 2.36% return.
MSTW
- 1D
- -5.03%
- 1M
- -9.33%
- 6M
- -47.69%
- YTD
- -49.11%
- 1Y
- -83.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -84.93%
HYGW
- 1D
- 0.14%
- 1M
- 0.03%
- 6M
- 1.81%
- YTD
- 2.36%
- 1Y
- 5.90%
- 3Y*
- 5.30%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $480.97K | $636.40K | $814.79K | |
| $1.36M | $1.35M | $3.08M |
MSTW vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSTW Roundhill MSTR WeeklyPay™ ETF | -49.11% | -71.40% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.36% | 3.51% |
Correlation
The correlation between MSTW and HYGW is 0.38, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025 | 0.37 |
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Return for Risk
MSTW vs. HYGW — Risk / Return Rank
MSTW
HYGW
MSTW vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill MSTR WeeklyPay™ ETF (MSTW) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.
| MSTW | HYGW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.96 | ||
| Sortino ratioReturn per unit of downside risk | -5.22 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.42 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 3.26 | -4.24 |
| Martin ratioReturn relative to average drawdown | -1.35 | 14.57 | -15.91 |
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Drawdowns
MSTW vs. HYGW - Drawdown Comparison
The maximum MSTW drawdown since its inception was -87.29%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for MSTW and HYGW.
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Drawdown Indicators
| MSTW | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.29% | -5.49% | -81.80% |
Max Drawdown (1Y)Largest decline over 1 year | -86.75% | -1.82% | -84.93% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.42% | — |
Current DrawdownCurrent decline from peak | -85.46% | -0.21% | -85.25% |
Average DrawdownAverage peak-to-trough decline | -58.78% | -0.59% | -58.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 63.15% | 0.41% | +62.74% |
Volatility
MSTW vs. HYGW - Volatility Comparison
Roundhill MSTR WeeklyPay™ ETF (MSTW) has a higher volatility of 21.78% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 0.80%. This indicates that MSTW's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTW | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.78% | 0.80% | +20.98% |
Volatility (6M)Calculated over the trailing 6-month period | 73.44% | 2.32% | +71.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 91.22% | 2.92% | +88.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.37% | 4.62% | +85.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.37% | 4.62% | +85.75% |
MSTW vs. HYGW - Expense Ratio Comparison
MSTW has a 0.99% expense ratio, which is higher than HYGW's 0.69% expense ratio.
Dividends
MSTW vs. HYGW - Dividend Comparison
MSTW's dividend yield for the trailing twelve months is around 422.50%, more than HYGW's 10.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 10.71% | 12.53% | 12.30% | 15.98% | 8.71% |
MSTW Roundhill MSTR WeeklyPay™ ETF | 422.50% | 106.94% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSTW and HYGW have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTW has higher volatility (21.78%) compared to HYGW (0.80%). In terms of maximum drawdown, MSTW dropped -87.29% vs HYGW's -5.49%.
On 1-year performance, HYGW leads with 5.90% vs -83.12% for MSTW. On fees, HYGW is cheaper at 0.69% per year. On volatility, HYGW has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYGW has performed better with a 5.90% return vs -83.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYGW is cheaper with a 0.69% expense ratio, compared with 0.99% for MSTW.
MSTW has the higher dividend yield at 422.50%, compared with 10.71% for HYGW.
They also come from different issuers: Roundhill and iShares. Their fees differ too: 0.99% for MSTW and 0.69% for HYGW.
HYGW currently has the higher Sharpe Ratio (2.03 vs -0.93), 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.
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