ODTE vs. IVVW

Last updated Aug 1, 2026

ODTE (VegaShares SPX NDX RTY Premium Income ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. ODTE is actively managed, while IVVW is passively managed. Their 0.73 correlation means they have sometimes moved together and sometimes differently. ODTE charges 0.76%/yr vs 0.25%/yr for IVVW.

Performance

ODTE vs. IVVW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VegaShares SPX NDX RTY Premium Income ETF (ODTE) and iShares S&P 500 BuyWrite ETF (IVVW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ODTE

• 1D: 0.36%
• 1M: -2.35%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

IVVW

• 1D: 0.65%
• 1M: 1.31%
• 6M: 6.25%
• YTD: 7.09%
• 1Y: 18.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.42%

*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)
IVVW iShares S&P 500 BuyWrite ETF	$1.59M	$1.91M	$2.60M
ODTE VegaShares SPX NDX RTY Premium Income ETF	$150.19K	$175.13K	$172.74K

ODTE vs. IVVW - Yearly Performance Comparison

	2026 (YTD)
ODTE VegaShares SPX NDX RTY Premium Income ETF	8.63%
IVVW iShares S&P 500 BuyWrite ETF	8.31%

Correlation

The correlation between ODTE and IVVW is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 2, 2026	0.73

Return for Risk

ODTE vs. IVVW — Risk / Return Rank

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

ODTE

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

IVVW

IVVW Risk / Return Rank: 87
IVVW Sharpe Ratio Rank: 87
IVVW Sortino Ratio Rank: 85
IVVW Omega Ratio Rank: 91
IVVW Calmar Ratio Rank: 82
IVVW Martin Ratio Rank: 92

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.

ODTE vs. IVVW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VegaShares SPX NDX RTY Premium Income ETF (ODTE) and iShares S&P 500 BuyWrite ETF (IVVW). 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.

	ODTE	IVVW	Difference
Sharpe ratio: Return per unit of total volatility	—	2.05	—
Sortino ratio: Return per unit of downside risk	—	2.83	—
Omega ratio: Gain probability vs. loss probability	—	1.43	—
Calmar ratio: Return relative to maximum drawdown	—	3.02	—
Martin ratio: Return relative to average drawdown	—	15.69	—

Drawdowns

ODTE vs. IVVW - Drawdown Comparison

The maximum ODTE drawdown since its inception was -7.04%, smaller than the maximum IVVW drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for ODTE and IVVW.

Drawdown Indicators

	ODTE	IVVW	Difference
Max Drawdown Largest peak-to-trough decline	-7.04%	-16.79%	+9.75%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.81%	—
Current Drawdown Current decline from peak	-5.25%	-0.11%	-5.14%
Average Drawdown Average peak-to-trough decline	-1.77%	-1.68%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.12%	—

Volatility

Volatility by Period

	ODTE	IVVW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.90%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.28%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.09%	8.56%	+6.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.09%	12.56%	+2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.09%	12.56%	+2.53%

ODTE vs. IVVW - Expense Ratio Comparison

ODTE has a 0.76% expense ratio, which is higher than IVVW's 0.25% expense ratio.

Dividends

ODTE vs. IVVW - Dividend Comparison

ODTE's dividend yield for the trailing twelve months is around 4.54%, less than IVVW's 19.01% yield.

Position	TTM	2025	2024
IVVW iShares S&P 500 BuyWrite ETF	19.01%	18.55%	13.72%
ODTE VegaShares SPX NDX RTY Premium Income ETF	4.54%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ODTE and IVVW in my portfolio?

ODTE and IVVW have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ODTE or IVVW?

On fees, IVVW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ODTE or IVVW?

IVVW is cheaper with a 0.25% expense ratio, compared with 0.76% for ODTE.

Which ETF pays a higher dividend yield, ODTE or IVVW?

IVVW has the higher dividend yield at 19.01%, compared with 4.54% for ODTE.

What is the main difference between ODTE and IVVW?

They also come from different issuers: VegaShares and iShares. Their fees differ too: 0.76% for ODTE and 0.25% for IVVW.