RDTY vs. IWMY

Last updated Jun 4, 2026

RDTY (YieldMax™ R2000 0DTE Covered Call Strategy ETF) and IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) are both exchange-traded funds - RDTY is a Derivative Income fund actively managed by YieldMax, while IWMY is a Options Trading fund tracking the Russell 2000 Index. RDTY is actively managed, while IWMY is passively managed. Over the past year, RDTY returned 24.95% vs 23.33% for IWMY. Their correlation of 0.86 suggests significant overlap in exposure. RDTY charges 1.01%/yr vs 0.99%/yr for IWMY.

Performance

RDTY vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax™ R2000 0DTE Covered Call Strategy ETF (RDTY) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RDTY achieves a 12.91% return, which is significantly higher than IWMY's 12.25% return.

RDTY

• 1D: -1.30%
• 1M: 2.33%
• YTD: 12.91%
• 6M: 12.68%
• 1Y: 24.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: -1.36%
• 1M: 3.06%
• YTD: 12.25%
• 6M: 10.99%
• 1Y: 23.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RDTY vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025
RDTY YieldMax™ R2000 0DTE Covered Call Strategy ETF	12.91%	10.73%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	12.25%	11.78%

Correlation

The correlation between RDTY and IWMY is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	0.86

The correlation between RDTY and IWMY has been stable across timeframes, ranging from 0.85 to 0.86 - a consistent structural relationship.

Return for Risk

RDTY vs. IWMY — Risk / Return Rank

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

RDTY

RDTY Risk / Return Rank: 46
RDTY Sharpe Ratio Rank: 42
RDTY Sortino Ratio Rank: 41
RDTY Omega Ratio Rank: 39
RDTY Calmar Ratio Rank: 55
RDTY Martin Ratio Rank: 53

IWMY

IWMY Risk / Return Rank: 40
IWMY Sharpe Ratio Rank: 42
IWMY Sortino Ratio Rank: 38
IWMY Omega Ratio Rank: 39
IWMY Calmar Ratio Rank: 41
IWMY Martin Ratio Rank: 41

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.

RDTY vs. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax™ R2000 0DTE Covered Call Strategy ETF (RDTY) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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.

	RDTY	IWMY	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.49	-0.02
Sortino ratio: Return per unit of downside risk	2.11	2.02	+0.08
Omega ratio: Gain probability vs. loss probability	1.25	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.72	2.03	+0.70
Martin ratio: Return relative to average drawdown	9.18	6.66	+2.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RDTY vs. IWMY - Sharpe Ratio Comparison

The current RDTY Sharpe Ratio is 1.48, which is comparable to the IWMY Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of RDTY and IWMY, 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

	RDTY	IWMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	1.49	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.95	-0.06

Drawdowns

RDTY vs. IWMY - Drawdown Comparison

The maximum RDTY drawdown since its inception was -17.31%, smaller than the maximum IWMY drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for RDTY and IWMY.

Drawdown Indicators

	RDTY	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-17.31%	-18.72%	+1.41%
Max Drawdown (1Y) Largest decline over 1 year	-9.20%	-11.57%	+2.37%
Current Drawdown Current decline from peak	-1.30%	-1.36%	+0.06%
Average Drawdown Average peak-to-trough decline	-2.74%	-2.98%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	3.51%	-0.79%

Volatility

RDTY vs. IWMY - Volatility Comparison

YieldMax™ R2000 0DTE Covered Call Strategy ETF (RDTY) has a higher volatility of 6.07% compared to Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) at 5.42%. This indicates that RDTY's price experiences larger fluctuations and is considered to be riskier than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RDTY	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.07%	5.42%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	12.44%	12.62%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	17.00%	15.69%	+1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.08%	15.75%	+6.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.08%	15.75%	+6.33%

RDTY vs. IWMY - Expense Ratio Comparison

RDTY has a 1.01% expense ratio, which is higher than IWMY's 0.99% expense ratio.

Dividends

RDTY vs. IWMY - Dividend Comparison

RDTY's dividend yield for the trailing twelve months is around 44.28%, less than IWMY's 45.96% yield.

Position	TTM	2025	2024	2023
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	45.96%	63.33%	107.92%	11.34%
RDTY YieldMax™ R2000 0DTE Covered Call Strategy ETF	44.28%	36.75%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RDTY and IWMY in my portfolio?

RDTY and IWMY have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RDTY or IWMY?

RDTY has higher volatility (6.07%) compared to IWMY (5.42%). In terms of maximum drawdown, RDTY dropped -17.31% vs IWMY's -18.72%.

Which ETF is better, RDTY or IWMY?

On 1-year performance, RDTY leads with 24.95% vs 23.33% for IWMY. On fees, IWMY is cheaper at 0.99% per year. On volatility, IWMY has been the lower-risk option at 5.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RDTY or IWMY?

Over the 1-year period, RDTY has performed better with a 24.95% return vs 23.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RDTY or IWMY?

IWMY is cheaper with a 0.99% expense ratio, compared with 1.01% for RDTY.

Which ETF pays a higher dividend yield, RDTY or IWMY?

IWMY has the higher dividend yield at 45.96%, compared with 44.28% for RDTY.

What is the main difference between RDTY and IWMY?

RDTY is categorized as Derivative Income, while IWMY is Options Trading. They also come from different issuers: YieldMax and Defiance. Their fees differ too: 1.01% for RDTY and 0.99% for IWMY.

Which has better risk-adjusted returns?

IWMY currently has the higher Sharpe Ratio (1.49 vs 1.48), 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.