NVDW vs. HYGW

Last updated Aug 2, 2026

NVDW (Roundhill NVDA WeeklyPay ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both Derivative Income funds. NVDW is actively managed, while HYGW is passively managed. Over the past year, NVDW returned 13.25% vs 5.90% for HYGW. Their 0.24 correlation means their historical movements had little consistent relationship. NVDW charges 0.99%/yr vs 0.69%/yr for HYGW.

Performance

NVDW vs. HYGW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill NVDA WeeklyPay ETF (NVDW) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDW achieves a 6.34% return, which is significantly higher than HYGW's 2.36% return.

NVDW

• 1D: 3.90%
• 1M: 3.43%
• 6M: 3.83%
• YTD: 6.34%
• 1Y: 13.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 35.18%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	$480.97K	$636.40K	$814.79K
NVDW Roundhill NVDA WeeklyPay ETF	$1.52M	$1.61M	$2.95M

NVDW vs. HYGW - Yearly Performance Comparison

	2026 (YTD)	2025
NVDW Roundhill NVDA WeeklyPay ETF	6.34%	33.44%
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	2.36%	4.99%

Correlation

The correlation between NVDW and HYGW is 0.28, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.28
Correlation (All Time) Calculated using the full available price history since Jun 2, 2025	0.24

Return for Risk

NVDW vs. HYGW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NVDW

NVDW Risk / Return Rank: 17
NVDW Sharpe Ratio Rank: 16
NVDW Sortino Ratio Rank: 19
NVDW Omega Ratio Rank: 18
NVDW Calmar Ratio Rank: 18
NVDW Martin Ratio Rank: 17

HYGW

HYGW Risk / Return Rank: 88
HYGW Sharpe Ratio Rank: 86
HYGW Sortino Ratio Rank: 87
HYGW Omega Ratio Rank: 90
HYGW Calmar Ratio Rank: 85
HYGW Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NVDW vs. HYGW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill NVDA WeeklyPay ETF (NVDW) 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.

	NVDW	HYGW	Difference
Sharpe ratio: Return per unit of total volatility	0.23	2.03	-1.80
Sortino ratio: Return per unit of downside risk	0.64	2.95	-2.31
Omega ratio: Gain probability vs. loss probability	1.07	1.42	-0.34
Calmar ratio: Return relative to maximum drawdown	0.40	3.26	-2.87
Martin ratio: Return relative to average drawdown	0.81	14.57	-13.76

NVDW vs. HYGW - Sharpe Ratio Comparison

The current NVDW Sharpe Ratio is 0.23, which is lower than the HYGW Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of NVDW and HYGW, 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

NVDW vs. HYGW - Drawdown Comparison

The maximum NVDW drawdown since its inception was -25.54%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for NVDW and HYGW.

Drawdown Indicators

	NVDW	HYGW	Difference
Max Drawdown Largest peak-to-trough decline	-25.54%	-5.49%	-20.05%
Max Drawdown (1Y) Largest decline over 1 year	-25.54%	-1.82%	-23.72%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.42%	—
Current Drawdown Current decline from peak	-18.07%	-0.21%	-17.86%
Average Drawdown Average peak-to-trough decline	-9.36%	-0.59%	-8.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.49%	0.41%	+12.08%

Volatility

NVDW vs. HYGW - Volatility Comparison

Roundhill NVDA WeeklyPay ETF (NVDW) has a higher volatility of 14.31% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 0.80%. This indicates that NVDW'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.

Volatility by Period

	NVDW	HYGW	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.31%	0.80%	+13.51%
Volatility (6M) Calculated over the trailing 6-month period	33.63%	2.32%	+31.31%
Volatility (1Y) Calculated over the trailing 1-year period	43.58%	2.92%	+40.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.33%	4.62%	+37.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.33%	4.62%	+37.71%

NVDW vs. HYGW - Expense Ratio Comparison

NVDW has a 0.99% expense ratio, which is higher than HYGW's 0.69% expense ratio.

Dividends

NVDW vs. HYGW - Dividend Comparison

NVDW's dividend yield for the trailing twelve months is around 62.58%, 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%
NVDW Roundhill NVDA WeeklyPay ETF	62.58%	38.94%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVDW and HYGW in my portfolio?

NVDW and HYGW have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDW or HYGW?

NVDW has higher volatility (14.31%) compared to HYGW (0.80%). In terms of maximum drawdown, NVDW dropped -25.54% vs HYGW's -5.49%.

Which ETF is better, NVDW or HYGW?

On 1-year performance, NVDW leads with 13.25% vs 5.90% for HYGW. 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.

Which ETF has performed better, NVDW or HYGW?

Over the 1-year period, NVDW has performed better with a 13.25% return vs 5.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDW or HYGW?

HYGW is cheaper with a 0.69% expense ratio, compared with 0.99% for NVDW.

Which ETF pays a higher dividend yield, NVDW or HYGW?

NVDW has the higher dividend yield at 62.58%, compared with 10.71% for HYGW.

What is the main difference between NVDW and HYGW?

They also come from different issuers: Roundhill and iShares. Their fees differ too: 0.99% for NVDW and 0.69% for HYGW.

Which has better risk-adjusted returns?

HYGW currently has the higher Sharpe Ratio (2.03 vs 0.23), 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.