MSTW vs. SPY

Last updated Apr 1, 2026

Compare and contrast key facts about Roundhill MSTR WeeklyPay ETF (MSTW) and State Street SPDR S&P 500 ETF (SPY).

MSTW and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSTW is an actively managed fund by Roundhill. It was launched on Jul 23, 2025. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.

Performance

MSTW vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill MSTR WeeklyPay ETF (MSTW) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

MSTW vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025
MSTW Roundhill MSTR WeeklyPay ETF	-22.66%	-71.42%
SPY State Street SPDR S&P 500 ETF	-4.37%	8.10%

Returns By Period

In the year-to-date period, MSTW achieves a -22.66% return, which is significantly lower than SPY's -4.37% return.

MSTW

• 1D: 3.64%
• 1M: -5.24%
• YTD: -22.66%
• 6M: -69.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: 2.91%
• 1M: -4.94%
• YTD: -4.37%
• 6M: -1.82%
• 1Y: 17.59%
• 3Y*: 18.19%
• 5Y*: 11.69%
• 10Y*: 13.98%

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

MSTW vs. SPY - Expense Ratio Comparison

MSTW has a 0.99% expense ratio, which is higher than SPY's 0.09% expense ratio.

MSTW

Roundhill MSTR WeeklyPay ETF

SPY

State Street SPDR S&P 500 ETF

Return for Risk

MSTW vs. SPY — Risk / Return Rank

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

SPY

SPY Risk / Return Rank: 64
SPY Sharpe Ratio Rank: 56
SPY Sortino Ratio Rank: 60
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 65
SPY Martin Ratio Rank: 75

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.

MSTW vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill MSTR WeeklyPay ETF (MSTW) and State Street SPDR S&P 500 ETF (SPY). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MSTW	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.93	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.99	0.56	-1.56

Correlation

The correlation between MSTW and SPY is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MSTW vs. SPY - Dividend Comparison

MSTW's dividend yield for the trailing twelve months is around 193.06%, more than SPY's 1.14% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSTW Roundhill MSTR WeeklyPay ETF	193.06%	106.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.14%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Drawdowns

MSTW vs. SPY - Drawdown Comparison

The maximum MSTW drawdown since its inception was -81.85%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for MSTW and SPY.

Drawdown Indicators

	MSTW	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-81.85%	-55.19%	-26.66%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-77.90%	-6.24%	-71.66%
Average Drawdown Average peak-to-trough decline	-50.31%	-9.09%	-41.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.52%	—

Volatility

Volatility by Period

	MSTW	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	89.87%	19.05%	+70.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.87%	17.06%	+72.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.87%	17.92%	+71.95%