NFLW vs. TOPW

Last updated Jun 4, 2026

NFLW (Roundhill NFLX WeeklyPay ETF) and TOPW (Roundhill Top WeeklyPay ETF) are both Derivative Income funds. NFLW is actively managed, while TOPW is passively managed. At a 0.26 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

NFLW vs. TOPW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill NFLX WeeklyPay ETF (NFLW) and Roundhill Top WeeklyPay ETF (TOPW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NFLW achieves a -16.78% return, which is significantly lower than TOPW's 7.71% return.

NFLW

• 1D: -2.48%
• 1M: -12.48%
• YTD: -16.78%
• 6M: -26.68%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TOPW

• 1D: -1.52%
• 1M: 3.60%
• YTD: 7.71%
• 6M: -0.67%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NFLW vs. TOPW - Yearly Performance Comparison

	2026 (YTD)	2025
NFLW Roundhill NFLX WeeklyPay ETF	-16.78%	-30.68%
TOPW Roundhill Top WeeklyPay ETF	7.71%	-2.47%

Correlation

The correlation between NFLW and TOPW is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 5, 2025	0.26

Return for Risk

NFLW vs. TOPW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill NFLX WeeklyPay ETF (NFLW) and Roundhill Top WeeklyPay ETF (TOPW). 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

	NFLW	TOPW	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.05	0.25	-1.31

Drawdowns

NFLW vs. TOPW - Drawdown Comparison

The maximum NFLW drawdown since its inception was -50.73%, which is greater than TOPW's maximum drawdown of -29.87%. Use the drawdown chart below to compare losses from any high point for NFLW and TOPW.

Drawdown Indicators

	NFLW	TOPW	Difference
Max Drawdown Largest peak-to-trough decline	-50.73%	-29.87%	-20.86%
Current Drawdown Current decline from peak	-47.00%	-10.02%	-36.98%
Average Drawdown Average peak-to-trough decline	-26.84%	-12.88%	-13.96%

Volatility

Volatility by Period

	NFLW	TOPW	Difference
Volatility (1Y) Calculated over the trailing 1-year period	40.34%	27.36%	+12.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.34%	27.36%	+12.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.34%	27.36%	+12.98%

NFLW vs. TOPW - Expense Ratio Comparison

Both NFLW and TOPW have an expense ratio of 0.99%.

Dividends

NFLW vs. TOPW - Dividend Comparison

NFLW's dividend yield for the trailing twelve months is around 73.24%, more than TOPW's 40.33% yield.

Position	TTM	2025
NFLW Roundhill NFLX WeeklyPay ETF	73.24%	38.89%
TOPW Roundhill Top WeeklyPay ETF	40.33%	21.52%

Frequently Asked Questions

Can I hold both NFLW and TOPW in my portfolio?

NFLW and TOPW have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NFLW or TOPW?

Both ETFs have the same 0.99% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NFLW or TOPW?

NFLW and TOPW have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, NFLW or TOPW?

NFLW has the higher dividend yield at 73.24%, compared with 40.33% for TOPW.

What is the main difference between NFLW and TOPW?

They also come from different issuers: Roundhill and Roundhill Investments.