PAYH vs. ULTI
PAYH (TrueShares S&P Autocallable High Income ETF) and ULTI (REX IncomeMax Option Strategy ETF) are both Derivative Income funds. Both are actively managed. At a 0.32 correlation, their price movements are largely independent. PAYH charges 0.74%/yr vs 1.25%/yr for ULTI.
Performance
PAYH vs. ULTI - Performance Comparison
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Returns By Period
In the year-to-date period, PAYH achieves a 5.88% return, which is significantly lower than ULTI's 14.78% return.
PAYH
- 1D
- -0.91%
- 1M
- -2.97%
- YTD
- 5.88%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ULTI
- 1D
- -4.27%
- 1M
- -17.66%
- YTD
- 14.78%
- 6M
- 6.48%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAYH vs. ULTI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PAYH TrueShares S&P Autocallable High Income ETF | 5.88% | -0.73% |
ULTI REX IncomeMax Option Strategy ETF | 14.78% | -2.62% |
Correlation
The correlation between PAYH and ULTI is 0.32, 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 Dec 30, 2025 | 0.32 |
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Return for Risk
PAYH vs. ULTI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares S&P Autocallable High Income ETF (PAYH) and REX IncomeMax Option Strategy ETF (ULTI). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Drawdowns
PAYH vs. ULTI - Drawdown Comparison
The maximum PAYH drawdown since its inception was -16.33%, smaller than the maximum ULTI drawdown of -42.09%. Use the drawdown chart below to compare losses from any high point for PAYH and ULTI.
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Drawdown Indicators
| PAYH | ULTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.33% | -42.09% | +25.76% |
Current DrawdownCurrent decline from peak | -3.55% | -29.61% | +26.06% |
Average DrawdownAverage peak-to-trough decline | -2.71% | -27.81% | +25.10% |
Volatility
PAYH vs. ULTI - Volatility Comparison
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Volatility by Period
| PAYH | ULTI | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 22.78% | 62.20% | -39.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.78% | 62.20% | -39.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.78% | 62.20% | -39.42% |
PAYH vs. ULTI - Expense Ratio Comparison
PAYH has a 0.74% expense ratio, which is lower than ULTI's 1.25% expense ratio.
Dividends
PAYH vs. ULTI - Dividend Comparison
PAYH's dividend yield for the trailing twelve months is around 6.63%, less than ULTI's 60.21% yield.
| Position | TTM | 2025 |
|---|---|---|
PAYH TrueShares S&P Autocallable High Income ETF | 6.63% | 0.00% |
ULTI REX IncomeMax Option Strategy ETF | 60.21% | 14.96% |
Frequently Asked Questions
PAYH and ULTI have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAYH is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAYH is cheaper with a 0.74% expense ratio, compared with 1.25% for ULTI.
ULTI has the higher dividend yield at 60.21%, compared with 6.63% for PAYH.
They also come from different issuers: TrueShares and REX Shares. Their fees differ too: 0.74% for PAYH and 1.25% for ULTI.
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