PAYM vs. THTA

Last updated Jul 16, 2026

PAYM (TrueShares S&P Autocallable Defensive Income ETF) and THTA (SoFi Enhanced Yield ETF) are both Derivative Income funds. PAYM is passively managed, while THTA is actively managed. At a 0.29 correlation, their price movements are largely independent. PAYM charges 0.74%/yr vs 0.49%/yr for THTA.

Performance

PAYM vs. THTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares S&P Autocallable Defensive Income ETF (PAYM) and SoFi Enhanced Yield ETF (THTA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PAYM

• 1D: 0.71%
• 1M: 0.32%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

THTA

• 1D: -0.04%
• 1M: 0.63%
• 6M: 8.40%
• YTD: 8.11%
• 1Y: 15.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PAYM vs. THTA - Yearly Performance Comparison

	2026 (YTD)
PAYM TrueShares S&P Autocallable Defensive Income ETF	1.39%
THTA SoFi Enhanced Yield ETF	1.41%

Correlation

The correlation between PAYM and THTA is 0.29, 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 May 28, 2026	0.29

Return for Risk

PAYM vs. THTA — Risk / Return Rank

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

PAYM

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

THTA

THTA Risk / Return Rank: 96
THTA Sharpe Ratio Rank: 94
THTA Sortino Ratio Rank: 94
THTA Omega Ratio Rank: 96
THTA Calmar Ratio Rank: 95
THTA Martin Ratio Rank: 98

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.

PAYM vs. THTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares S&P Autocallable Defensive Income ETF (PAYM) and SoFi Enhanced Yield ETF (THTA). 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.

	PAYM	THTA	Difference
Sharpe ratio: Return per unit of total volatility	—	2.76	—
Sortino ratio: Return per unit of downside risk	—	4.08	—
Omega ratio: Gain probability vs. loss probability	—	1.72	—
Calmar ratio: Return relative to maximum drawdown	—	6.08	—
Martin ratio: Return relative to average drawdown	—	48.97	—

Drawdowns

PAYM vs. THTA - Drawdown Comparison

The maximum PAYM drawdown since its inception was -5.41%, smaller than the maximum THTA drawdown of -31.41%. Use the drawdown chart below to compare losses from any high point for PAYM and THTA.

Drawdown Indicators

	PAYM	THTA	Difference
Max Drawdown Largest peak-to-trough decline	-5.41%	-31.41%	+26.00%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.64%	—
Current Drawdown Current decline from peak	-1.37%	-5.70%	+4.33%
Average Drawdown Average peak-to-trough decline	-2.28%	-7.45%	+5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.33%	—

Volatility

Volatility by Period

	PAYM	THTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.10%	5.82%	+14.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.10%	19.83%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.10%	19.83%	+0.27%

PAYM vs. THTA - Expense Ratio Comparison

PAYM has a 0.74% expense ratio, which is higher than THTA's 0.49% expense ratio.

Dividends

PAYM vs. THTA - Dividend Comparison

PAYM's dividend yield for the trailing twelve months is around 1.65%, less than THTA's 11.04% yield.

Position	TTM	2025	2024	2023
PAYM TrueShares S&P Autocallable Defensive Income ETF	1.65%	0.00%	0.00%	0.00%
THTA SoFi Enhanced Yield ETF	11.04%	12.66%	12.44%	0.58%

Frequently Asked Questions

Can I hold both PAYM and THTA in my portfolio?

PAYM and THTA have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PAYM or THTA?

On fees, THTA is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PAYM or THTA?

THTA is cheaper with a 0.49% expense ratio, compared with 0.74% for PAYM.

Which ETF pays a higher dividend yield, PAYM or THTA?

THTA has the higher dividend yield at 11.04%, compared with 1.65% for PAYM.

What is the main difference between PAYM and THTA?

They also come from different issuers: TrueShares and SoFi. Their fees differ too: 0.74% for PAYM and 0.49% for THTA.