PEPS vs. MAGY

Last updated Jun 4, 2026

PEPS (Parametric Equity Plus ETF) and MAGY (Roundhill Magnificent Seven Covered Call ETF) are both Derivative Income funds. Both are actively managed. Over the past year, PEPS returned 31.83% vs 13.34% for MAGY. A 0.78 correlation means they provide meaningful diversification when combined. PEPS charges 0.10%/yr vs 0.99%/yr for MAGY.

Performance

PEPS vs. MAGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Parametric Equity Plus ETF (PEPS) and Roundhill Magnificent Seven Covered Call ETF (MAGY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEPS achieves a 10.67% return, which is significantly higher than MAGY's -1.50% return.

PEPS

• 1D: -0.51%
• 1M: 6.44%
• YTD: 10.67%
• 6M: 10.79%
• 1Y: 31.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MAGY

• 1D: -1.26%
• 1M: 1.86%
• YTD: -1.50%
• 6M: -0.71%
• 1Y: 13.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PEPS vs. MAGY - Yearly Performance Comparison

	2026 (YTD)	2025
PEPS Parametric Equity Plus ETF	10.67%	32.39%
MAGY Roundhill Magnificent Seven Covered Call ETF	-1.50%	26.79%

Correlation

The correlation between PEPS and MAGY is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Apr 24, 2025	0.78

The correlation between PEPS and MAGY has been stable across timeframes, ranging from 0.78 to 0.78 - a consistent structural relationship.

Return for Risk

PEPS vs. MAGY — Risk / Return Rank

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

PEPS

PEPS Risk / Return Rank: 73
PEPS Sharpe Ratio Rank: 76
PEPS Sortino Ratio Rank: 71
PEPS Omega Ratio Rank: 75
PEPS Calmar Ratio Rank: 66
PEPS Martin Ratio Rank: 79

MAGY

MAGY Risk / Return Rank: 24
MAGY Sharpe Ratio Rank: 26
MAGY Sortino Ratio Rank: 24
MAGY Omega Ratio Rank: 26
MAGY Calmar Ratio Rank: 21
MAGY Martin Ratio Rank: 24

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.

PEPS vs. MAGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Parametric Equity Plus ETF (PEPS) and Roundhill Magnificent Seven Covered Call ETF (MAGY). 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.

	PEPS	MAGY	Difference
Sharpe ratio: Return per unit of total volatility	2.45	0.93	+1.52
Sortino ratio: Return per unit of downside risk	3.22	1.29	+1.93
Omega ratio: Gain probability vs. loss probability	1.45	1.18	+0.27
Calmar ratio: Return relative to maximum drawdown	3.26	0.94	+2.33
Martin ratio: Return relative to average drawdown	15.28	3.11	+12.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEPS vs. MAGY - Sharpe Ratio Comparison

The current PEPS Sharpe Ratio is 2.45, which is higher than the MAGY Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of PEPS and MAGY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PEPS	MAGY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.45	0.93	+1.52
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	1.53	-0.48

Drawdowns

PEPS vs. MAGY - Drawdown Comparison

The maximum PEPS drawdown since its inception was -21.26%, which is greater than MAGY's maximum drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for PEPS and MAGY.

Drawdown Indicators

	PEPS	MAGY	Difference
Max Drawdown Largest peak-to-trough decline	-21.26%	-14.29%	-6.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.80%	-14.29%	+4.49%
Current Drawdown Current decline from peak	-0.51%	-3.64%	+3.13%
Average Drawdown Average peak-to-trough decline	-2.77%	-2.69%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	4.29%	-2.20%

Volatility

PEPS vs. MAGY - Volatility Comparison

The current volatility for Parametric Equity Plus ETF (PEPS) is 2.77%, while Roundhill Magnificent Seven Covered Call ETF (MAGY) has a volatility of 3.67%. This indicates that PEPS experiences smaller price fluctuations and is considered to be less risky than MAGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEPS	MAGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.77%	3.67%	-0.90%
Volatility (6M) Calculated over the trailing 6-month period	9.83%	11.29%	-1.46%
Volatility (1Y) Calculated over the trailing 1-year period	13.06%	14.38%	-1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.31%	14.57%	+3.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	14.57%	+3.74%

PEPS vs. MAGY - Expense Ratio Comparison

PEPS has a 0.10% expense ratio, which is lower than MAGY's 0.99% expense ratio.

Dividends

PEPS vs. MAGY - Dividend Comparison

PEPS's dividend yield for the trailing twelve months is around 0.88%, less than MAGY's 37.35% yield.

Position	TTM	2025	2024
MAGY Roundhill Magnificent Seven Covered Call ETF	37.35%	23.38%	0.00%
PEPS Parametric Equity Plus ETF	0.88%	1.00%	0.17%

Frequently Asked Questions

Can I hold both PEPS and MAGY in my portfolio?

PEPS and MAGY have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEPS or MAGY?

MAGY has higher volatility (3.67%) compared to PEPS (2.77%). In terms of maximum drawdown, PEPS dropped -21.26% vs MAGY's -14.29%.

Which ETF is better, PEPS or MAGY?

On 1-year performance, PEPS leads with 31.83% vs 13.34% for MAGY. On fees, PEPS is cheaper at 0.10% per year. On volatility, PEPS has been the lower-risk option at 2.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PEPS or MAGY?

Over the 1-year period, PEPS has performed better with a 31.83% return vs 13.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PEPS or MAGY?

PEPS is cheaper with a 0.10% expense ratio, compared with 0.99% for MAGY.

Which ETF pays a higher dividend yield, PEPS or MAGY?

MAGY has the higher dividend yield at 37.35%, compared with 0.88% for PEPS.

What is the main difference between PEPS and MAGY?

They also come from different issuers: Parametric and Roundhill. Their fees differ too: 0.10% for PEPS and 0.99% for MAGY.

Which has better risk-adjusted returns?

PEPS currently has the higher Sharpe Ratio (2.45 vs 0.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.