ODTE vs. IVVW

Last updated Jun 9, 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. A 0.71 correlation means they provide meaningful diversification when combined. 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: 0.83%
• 1M: -0.24%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVVW

• 1D: 0.33%
• 1M: 0.30%
• YTD: 3.82%
• 6M: 5.33%
• 1Y: 18.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ODTE vs. IVVW - Yearly Performance Comparison

	2026 (YTD)
ODTE VegaShares SPX NDX RTY Premium Income ETF	10.01%
IVVW iShares S&P 500 BuyWrite ETF	4.81%

Correlation

The correlation between ODTE and IVVW is 0.71, 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 Apr 6, 2026	0.71

Return for Risk

ODTE vs. IVVW — Risk / Return Rank

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

IVVW

IVVW Risk / Return Rank: 83
IVVW Sharpe Ratio Rank: 83
IVVW Sortino Ratio Rank: 82
IVVW Omega Ratio Rank: 91
IVVW Calmar Ratio Rank: 70
IVVW Martin Ratio Rank: 88

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.

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.

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

Sharpe Ratios by Period

	ODTE	IVVW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.90	1.02	+3.88

Drawdowns

ODTE vs. IVVW - Drawdown Comparison

The maximum ODTE drawdown since its inception was -3.86%, 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	-3.86%	-16.79%	+12.93%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.81%	—
Current Drawdown Current decline from peak	-3.06%	-1.24%	-1.82%
Average Drawdown Average peak-to-trough decline	-0.53%	-1.75%	+1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.06%	—

Volatility

Volatility by Period

	ODTE	IVVW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.57%	7.57%	+7.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.57%	12.67%	+1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.57%	12.67%	+1.90%

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 2.17%, less than IVVW's 19.90% yield.

Position	TTM	2025	2024
IVVW iShares S&P 500 BuyWrite ETF	19.90%	18.55%	13.72%
ODTE VegaShares SPX NDX RTY Premium Income ETF	2.17%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ODTE and IVVW in my portfolio?

ODTE and IVVW have a correlation of 0.71, 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 19.90%, compared with 2.17% 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.