RDTE vs. PEPS

Last updated Jun 23, 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 32.40% vs 29.43% for PEPS. A 0.78 correlation means they provide meaningful diversification when combined. 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 18.03% return, which is significantly higher than PEPS's 9.36% return.

RDTE

• 1D: 1.03%
• 1M: 6.25%
• YTD: 18.03%
• 6M: 15.21%
• 1Y: 32.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PEPS

• 1D: -0.52%
• 1M: 0.84%
• YTD: 9.36%
• 6M: 8.89%
• 1Y: 29.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RDTE vs. PEPS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RDTE Roundhill Russell 2000 0DTE Covered Call Strategy ETF	18.03%	9.46%	-4.16%
PEPS Parametric Equity Plus ETF	9.36%	20.32%	-1.42%

Correlation

The correlation between RDTE and PEPS is 0.75, 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	0.75
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 0.75 to 0.78 - a consistent structural relationship.

Return for Risk

RDTE vs. PEPS — Risk / Return Rank

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

RDTE

RDTE Risk / Return Rank: 61
RDTE Sharpe Ratio Rank: 58
RDTE Sortino Ratio Rank: 55
RDTE Omega Ratio Rank: 52
RDTE Calmar Ratio Rank: 73
RDTE Martin Ratio Rank: 69

PEPS

PEPS Risk / Return Rank: 67
PEPS Sharpe Ratio Rank: 69
PEPS Sortino Ratio Rank: 63
PEPS Omega Ratio Rank: 69
PEPS Calmar Ratio Rank: 63
PEPS Martin Ratio Rank: 74

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.

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	1.89	2.15	-0.27
Sortino ratio: Return per unit of downside risk	2.56	2.82	-0.27
Omega ratio: Gain probability vs. loss probability	1.32	1.39	-0.08
Calmar ratio: Return relative to maximum drawdown	3.55	3.02	+0.53
Martin ratio: Return relative to average drawdown	12.29	13.65	-1.36

RDTE vs. PEPS - Sharpe Ratio Comparison

The current RDTE Sharpe Ratio is 1.89, which is comparable to the PEPS Sharpe Ratio of 2.15. 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%	-1.68%	+1.68%
Average Drawdown Average peak-to-trough decline	-4.56%	-2.75%	-1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	2.16%	+0.48%

Volatility

RDTE vs. PEPS - Volatility Comparison

Roundhill Russell 2000 0DTE Covered Call Strategy ETF (RDTE) has a higher volatility of 6.03% compared to Parametric Equity Plus ETF (PEPS) at 5.19%. This indicates that RDTE's price experiences larger fluctuations and is considered to be riskier than PEPS based on this measure. 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	6.03%	5.19%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	13.05%	10.76%	+2.29%
Volatility (1Y) Calculated over the trailing 1-year period	17.26%	13.75%	+3.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.31%	18.41%	+0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.31%	18.41%	+0.90%

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 43.75%, more than PEPS's 1.14% yield.

Position	TTM	2025	2024
PEPS Parametric Equity Plus ETF	1.14%	1.00%	0.17%
RDTE Roundhill Russell 2000 0DTE Covered Call Strategy ETF	43.75%	50.16%	10.70%

Frequently Asked Questions

Can I hold both RDTE and PEPS in my portfolio?

RDTE and PEPS have a correlation of 0.75, 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?

RDTE has higher volatility (6.03%) compared to PEPS (5.19%). 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 32.40% vs 29.43% for PEPS. On fees, PEPS is cheaper at 0.10% per year. On volatility, PEPS has been the lower-risk option at 5.19%. 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 32.40% return vs 29.43%. 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 43.75%, compared with 1.14% 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?

PEPS currently has the higher Sharpe Ratio (2.15 vs 1.89), 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.