NVDY vs. TOPW

Last updated Jun 9, 2026

NVDY (YieldMax NVDA Option Income Strategy ETF) and TOPW (Roundhill Top WeeklyPay ETF) are both Derivative Income funds. NVDY is actively managed, while TOPW is passively managed. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.99% expense ratio.

Performance

NVDY vs. TOPW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax NVDA Option Income Strategy ETF (NVDY) 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, NVDY achieves a 10.31% return, which is significantly higher than TOPW's 2.53% return.

NVDY

• 1D: 1.46%
• 1M: -2.61%
• YTD: 10.31%
• 6M: 11.29%
• 1Y: 42.27%
• 3Y*: 53.70%
• 5Y*: —
• 10Y*: —

TOPW

• 1D: 0.08%
• 1M: -5.06%
• YTD: 2.53%
• 6M: -5.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDY vs. TOPW - Yearly Performance Comparison

	2026 (YTD)	2025
NVDY YieldMax NVDA Option Income Strategy ETF	10.31%	8.25%
TOPW Roundhill Top WeeklyPay ETF	2.53%	-2.47%

Correlation

The correlation between NVDY and TOPW is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 5, 2025	0.61

Return for Risk

NVDY vs. TOPW — Risk / Return Rank

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

NVDY

NVDY Risk / Return Rank: 53
NVDY Sharpe Ratio Rank: 48
NVDY Sortino Ratio Rank: 46
NVDY Omega Ratio Rank: 45
NVDY Calmar Ratio Rank: 72
NVDY Martin Ratio Rank: 52

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.

NVDY vs. TOPW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax NVDA Option Income Strategy ETF (NVDY) 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.

	NVDY	TOPW	Difference
Sharpe ratio: Return per unit of total volatility	1.53	—	—
Sortino ratio: Return per unit of downside risk	2.06	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	3.31	—	—
Martin ratio: Return relative to average drawdown	8.03	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NVDY	TOPW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.59	0.00	+1.59

Drawdowns

NVDY vs. TOPW - Drawdown Comparison

The maximum NVDY drawdown since its inception was -34.08%, which is greater than TOPW's maximum drawdown of -29.87%. Use the drawdown chart below to compare losses from any high point for NVDY and TOPW.

Drawdown Indicators

	NVDY	TOPW	Difference
Max Drawdown Largest peak-to-trough decline	-34.08%	-29.87%	-4.21%
Max Drawdown (1Y) Largest decline over 1 year	-12.81%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-34.08%	—	—
Current Drawdown Current decline from peak	-8.93%	-14.34%	+5.41%
Average Drawdown Average peak-to-trough decline	-6.16%	-12.88%	+6.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.28%	—	—

Volatility

Volatility by Period

	NVDY	TOPW	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.13%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.34%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	27.86%	27.60%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.29%	27.60%	+10.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.29%	27.60%	+10.69%

NVDY vs. TOPW - Expense Ratio Comparison

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

Dividends

NVDY vs. TOPW - Dividend Comparison

NVDY's dividend yield for the trailing twelve months is around 64.50%, more than TOPW's 42.36% yield.

Position	TTM	2025	2024	2023
NVDY YieldMax NVDA Option Income Strategy ETF	64.50%	83.10%	83.65%	22.32%
TOPW Roundhill Top WeeklyPay ETF	42.36%	21.52%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVDY and TOPW in my portfolio?

NVDY and TOPW have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVDY 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, NVDY or TOPW?

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

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

NVDY has the higher dividend yield at 64.50%, compared with 42.36% for TOPW.

What is the main difference between NVDY and TOPW?

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