RDTE vs. SPYG

Last updated Jun 14, 2026

RDTE (Roundhill Small Cap 0DTE Covered Call Strategy ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - RDTE is a Derivative Income fund actively managed by Roundhill, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. RDTE is actively managed, while SPYG is passively managed. Over the past year, RDTE returned 29.53% vs 29.17% for SPYG. A 0.67 correlation means they provide meaningful diversification when combined. RDTE charges 0.95%/yr vs 0.04%/yr for SPYG.

Performance

RDTE vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Small Cap 0DTE Covered Call Strategy ETF (RDTE) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RDTE achieves a 14.54% return, which is significantly higher than SPYG's 9.70% return.

RDTE

• 1D: 0.98%
• 1M: 3.69%
• YTD: 14.54%
• 6M: 12.22%
• 1Y: 29.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYG

• 1D: 0.41%
• 1M: -1.24%
• YTD: 9.70%
• 6M: 10.60%
• 1Y: 29.17%
• 3Y*: 25.85%
• 5Y*: 14.92%
• 10Y*: 17.91%

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

RDTE vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RDTE Roundhill Small Cap 0DTE Covered Call Strategy ETF	14.54%	9.46%	8.32%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	9.70%	22.09%	14.16%

Correlation

The correlation between RDTE and SPYG is 0.66, 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	0.66
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024	0.67

The correlation between RDTE and SPYG has been stable across timeframes, ranging from 0.66 to 0.67 - a consistent structural relationship.

Return for Risk

RDTE vs. SPYG — Risk / Return Rank

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

RDTE

RDTE Risk / Return Rank: 57
RDTE Sharpe Ratio Rank: 53
RDTE Sortino Ratio Rank: 50
RDTE Omega Ratio Rank: 48
RDTE Calmar Ratio Rank: 68
RDTE Martin Ratio Rank: 65

SPYG

SPYG Risk / Return Rank: 52
SPYG Sharpe Ratio Rank: 56
SPYG Sortino Ratio Rank: 53
SPYG Omega Ratio Rank: 53
SPYG Calmar Ratio Rank: 45
SPYG Martin Ratio Rank: 53

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. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Small Cap 0DTE Covered Call Strategy ETF (RDTE) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.65	-0.06
Sortino ratio: Return per unit of downside risk	2.18	2.26	-0.07
Omega ratio: Gain probability vs. loss probability	1.27	1.29	-0.02
Calmar ratio: Return relative to maximum drawdown	2.98	2.01	+0.97
Martin ratio: Return relative to average drawdown	10.33	8.08	+2.25

RDTE vs. SPYG - Sharpe Ratio Comparison

The current RDTE Sharpe Ratio is 1.59, which is comparable to the SPYG Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of RDTE and SPYG, 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. SPYG - Drawdown Comparison

The maximum RDTE drawdown since its inception was -24.32%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for RDTE and SPYG.

Drawdown Indicators

	RDTE	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-24.32%	-67.63%	+43.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.17%	-13.76%	+4.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.67%	—
Current Drawdown Current decline from peak	0.00%	-4.65%	+4.65%
Average Drawdown Average peak-to-trough decline	-4.61%	-24.30%	+19.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	3.42%	-0.77%

Volatility

RDTE vs. SPYG - Volatility Comparison

Roundhill Small Cap 0DTE Covered Call Strategy ETF (RDTE) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) have volatilities of 6.32% and 6.33%, 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	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.32%	6.33%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	13.06%	13.48%	-0.42%
Volatility (1Y) Calculated over the trailing 1-year period	17.22%	16.81%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.32%	21.27%	-1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.32%	20.70%	-1.38%

RDTE vs. SPYG - Expense Ratio Comparison

RDTE has a 0.95% expense ratio, which is higher than SPYG's 0.04% expense ratio.

Dividends

RDTE vs. SPYG - Dividend Comparison

RDTE's dividend yield for the trailing twelve months is around 45.06%, more than SPYG's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RDTE Roundhill Small Cap 0DTE Covered Call Strategy ETF	45.06%	50.16%	10.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.48%	0.52%	0.60%	1.15%	1.03%	0.62%	0.90%	1.37%	1.51%	1.41%	1.55%	1.57%

Frequently Asked Questions

Can I hold both RDTE and SPYG in my portfolio?

RDTE and SPYG have a correlation of 0.66, 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 SPYG?

SPYG has higher volatility (6.33%) compared to RDTE (6.32%). In terms of maximum drawdown, RDTE dropped -24.32% vs SPYG's -67.63%.

Which ETF is better, RDTE or SPYG?

On 1-year performance, RDTE leads with 29.53% vs 29.17% for SPYG. On fees, SPYG is cheaper at 0.04% 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 SPYG?

Over the 1-year period, RDTE has performed better with a 29.53% return vs 29.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RDTE or SPYG?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.95% for RDTE.

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

RDTE has the higher dividend yield at 45.06%, compared with 0.48% for SPYG.

What is the main difference between RDTE and SPYG?

RDTE is categorized as Derivative Income, while SPYG is S&P 500. They also come from different issuers: Roundhill and State Street. Their fees differ too: 0.95% for RDTE and 0.04% for SPYG.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (1.65 vs 1.59), 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.