RDTE vs. PEPS

Last updated Aug 4, 2026

RDTE (Roundhill Russell 2000 0DTE Covered Call Strategy ETF) and PEPS (Parametric Equity Plus ETF) are both Derivative Income funds. Both are actively managed. Over the past year, RDTE returned 31.52% vs 25.79% for PEPS. Their 0.78 correlation means they have sometimes moved together and sometimes differently. RDTE charges 0.97%/yr vs 0.10%/yr for PEPS.

Performance

RDTE vs. PEPS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Russell 2000 0DTE Covered Call Strategy ETF (RDTE) and Parametric Equity Plus ETF (PEPS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RDTE achieves a 19.71% return, which is significantly higher than PEPS's 11.42% return.

RDTE

• 1D: 1.29%
• 1M: 1.03%
• 6M: 14.10%
• YTD: 19.71%
• 1Y: 31.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.31%

PEPS

• 1D: 0.80%
• 1M: 1.61%
• 6M: 8.66%
• YTD: 11.42%
• 1Y: 25.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.46%

*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)
PEPS Parametric Equity Plus ETF	$4.87K	$5.83K	$15.17K
RDTE Roundhill Russell 2000 0DTE Covered Call Strategy ETF	$2.49M	$2.79M	$2.91M

RDTE vs. PEPS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RDTE Roundhill Russell 2000 0DTE Covered Call Strategy ETF	19.71%	9.46%	-4.16%
PEPS Parametric Equity Plus ETF	11.42%	20.32%	-1.42%

Correlation

The correlation between RDTE and PEPS is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024	0.78

The correlation between RDTE and PEPS has been stable across timeframes, ranging from 0.74 to 0.78 - a consistent structural relationship.

Return for Risk

RDTE vs. PEPS — Risk / Return Rank

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

RDTE

RDTE Risk / Return Rank: 81
RDTE Sharpe Ratio Rank: 80
RDTE Sortino Ratio Rank: 78
RDTE Omega Ratio Rank: 75
RDTE Calmar Ratio Rank: 86
RDTE Martin Ratio Rank: 85

PEPS

PEPS Risk / Return Rank: 76
PEPS Sharpe Ratio Rank: 76
PEPS Sortino Ratio Rank: 73
PEPS Omega Ratio Rank: 75
PEPS Calmar Ratio Rank: 72
PEPS Martin Ratio Rank: 82

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.

RDTE vs. PEPS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Russell 2000 0DTE Covered Call Strategy ETF (RDTE) and Parametric Equity Plus ETF (PEPS). 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.

	RDTE	PEPS	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.84	+0.03
Sortino ratio: Return per unit of downside risk	2.56	2.46	+0.10
Omega ratio: Gain probability vs. loss probability	1.32	1.33	-0.01
Calmar ratio: Return relative to maximum drawdown	3.45	2.64	+0.81
Martin ratio: Return relative to average drawdown	12.11	11.54	+0.57

RDTE vs. PEPS - Sharpe Ratio Comparison

The current RDTE Sharpe Ratio is 1.87, which is comparable to the PEPS Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of RDTE and PEPS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RDTE vs. PEPS - Drawdown Comparison

The maximum RDTE drawdown since its inception was -24.32%, which is greater than PEPS's maximum drawdown of -21.26%. Use the drawdown chart below to compare losses from any high point for RDTE and PEPS.

Drawdown Indicators

	RDTE	PEPS	Difference
Max Drawdown Largest peak-to-trough decline	-24.32%	-21.26%	-3.06%
Max Drawdown (1Y) Largest decline over 1 year	-9.17%	-9.80%	+0.63%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.33%	-2.66%	-1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	2.24%	+0.37%

Volatility

RDTE vs. PEPS - Volatility Comparison

Roundhill Russell 2000 0DTE Covered Call Strategy ETF (RDTE) and Parametric Equity Plus ETF (PEPS) have volatilities of 3.83% and 3.92%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RDTE	PEPS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	3.92%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	12.94%	11.01%	+1.93%
Volatility (1Y) Calculated over the trailing 1-year period	16.97%	14.13%	+2.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.94%	18.09%	+0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.94%	18.09%	+0.85%

RDTE vs. PEPS - Expense Ratio Comparison

RDTE has a 0.97% expense ratio, which is higher than PEPS's 0.10% expense ratio.

Dividends

RDTE vs. PEPS - Dividend Comparison

RDTE's dividend yield for the trailing twelve months is around 43.76%, more than PEPS's 0.92% yield.

Position	TTM	2025	2024
PEPS Parametric Equity Plus ETF	0.92%	1.00%	0.17%
RDTE Roundhill Russell 2000 0DTE Covered Call Strategy ETF	43.76%	50.16%	10.70%

Frequently Asked Questions

Can I hold both RDTE and PEPS in my portfolio?

RDTE and PEPS have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RDTE or PEPS?

PEPS has higher volatility (3.92%) compared to RDTE (3.83%). In terms of maximum drawdown, RDTE dropped -24.32% vs PEPS's -21.26%.

Which ETF is better, RDTE or PEPS?

On 1-year performance, RDTE leads with 31.52% vs 25.79% for PEPS. On fees, PEPS is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RDTE or PEPS?

Over the 1-year period, RDTE has performed better with a 31.52% return vs 25.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RDTE or PEPS?

PEPS is cheaper with a 0.10% expense ratio, compared with 0.97% for RDTE.

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

RDTE has the higher dividend yield at 43.76%, compared with 0.92% for PEPS.

What is the main difference between RDTE and PEPS?

They also come from different issuers: Roundhill and Parametric. Their fees differ too: 0.97% for RDTE and 0.10% for PEPS.

Which has better risk-adjusted returns?

RDTE currently has the higher Sharpe Ratio (1.87 vs 1.84), 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.