SPUT vs. AMDW

Last updated Aug 1, 2026

SPUT (Innovator Equity Premium Income Daily PutWrite ETF) and AMDW (Roundhill AMD WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. Over the past year, SPUT returned 14.10% vs 209.29% for AMDW. Their 0.53 correlation means they have sometimes moved together and sometimes differently. SPUT charges 0.79%/yr vs 0.99%/yr for AMDW.

Performance

SPUT vs. AMDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Premium Income Daily PutWrite ETF (SPUT) and Roundhill AMD WeeklyPay ETF (AMDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUT achieves a 6.24% return, which is significantly lower than AMDW's 146.74% return.

SPUT

• 1D: 0.50%
• 1M: 0.26%
• 6M: 6.31%
• YTD: 6.24%
• 1Y: 14.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.52%

AMDW

• 1D: -2.02%
• 1M: -10.13%
• 6M: 119.90%
• YTD: 146.74%
• 1Y: 209.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 229.60%

*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)
AMDW Roundhill AMD WeeklyPay ETF	$10.26M	$9.58M	$8.51M
SPUT Innovator Equity Premium Income Daily PutWrite ETF	$131.17K	$79.02K	$95.99K

SPUT vs. AMDW - Yearly Performance Comparison

	2026 (YTD)	2025
SPUT Innovator Equity Premium Income Daily PutWrite ETF	6.24%	6.22%
AMDW Roundhill AMD WeeklyPay ETF	146.74%	36.56%

Correlation

The correlation between SPUT and AMDW is 0.53, 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.	0.53
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.53

The correlation between SPUT and AMDW has been stable across timeframes, ranging from 0.53 to 0.53 - a consistent structural relationship.

SPUT vs. AMDW - Sectors Allocation Comparison

Sectors	SPUT	AMDW
Technology	38.5%	19.3%
Financial Services	10.8%	-
Communication Services	10.2%	-
Consumer Cyclical	9.8%	-
Healthcare	9.0%	-
Industrials	8.7%	-
Consumer Defensive	4.4%	-
Energy	3.1%	-
Utilities	2.1%	-
Basic Materials	1.8%	-
Real Estate	1.7%	-

Return for Risk

SPUT vs. AMDW — Risk / Return Rank

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

SPUT

SPUT Risk / Return Rank: 76
SPUT Sharpe Ratio Rank: 71
SPUT Sortino Ratio Rank: 67
SPUT Omega Ratio Rank: 75
SPUT Calmar Ratio Rank: 86
SPUT Martin Ratio Rank: 82

AMDW

AMDW Risk / Return Rank: 88
AMDW Sharpe Ratio Rank: 92
AMDW Sortino Ratio Rank: 87
AMDW Omega Ratio Rank: 84
AMDW Calmar Ratio Rank: 96
AMDW Martin Ratio Rank: 84

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.

SPUT vs. AMDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Premium Income Daily PutWrite ETF (SPUT) and Roundhill AMD WeeklyPay ETF (AMDW). 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.

	SPUT	AMDW	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.36	-0.74
Sortino ratio: Return per unit of downside risk	2.21	2.92	-0.71
Omega ratio: Gain probability vs. loss probability	1.31	1.36	-0.05
Calmar ratio: Return relative to maximum drawdown	3.39	5.83	-2.44
Martin ratio: Return relative to average drawdown	11.10	11.47	-0.37

SPUT vs. AMDW - Sharpe Ratio Comparison

The current SPUT Sharpe Ratio is 1.61, which is lower than the AMDW Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of SPUT and AMDW, 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

SPUT vs. AMDW - Drawdown Comparison

The maximum SPUT drawdown since its inception was -10.55%, smaller than the maximum AMDW drawdown of -34.64%. Use the drawdown chart below to compare losses from any high point for SPUT and AMDW.

Drawdown Indicators

	SPUT	AMDW	Difference
Max Drawdown Largest peak-to-trough decline	-10.55%	-34.64%	+24.09%
Max Drawdown (1Y) Largest decline over 1 year	-3.81%	-34.64%	+30.83%
Current Drawdown Current decline from peak	-1.29%	-21.39%	+20.10%
Average Drawdown Average peak-to-trough decline	-1.00%	-13.97%	+12.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	17.59%	-16.42%

Volatility

SPUT vs. AMDW - Volatility Comparison

The current volatility for Innovator Equity Premium Income Daily PutWrite ETF (SPUT) is 2.32%, while Roundhill AMD WeeklyPay ETF (AMDW) has a volatility of 28.87%. This indicates that SPUT experiences smaller price fluctuations and is considered to be less risky than AMDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUT	AMDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.32%	28.87%	-26.55%
Volatility (6M) Calculated over the trailing 6-month period	6.20%	67.40%	-61.20%
Volatility (1Y) Calculated over the trailing 1-year period	8.01%	85.70%	-77.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.09%	85.05%	-73.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.09%	85.05%	-73.96%

SPUT vs. AMDW - Expense Ratio Comparison

SPUT has a 0.79% expense ratio, which is lower than AMDW's 0.99% expense ratio.

Dividends

SPUT vs. AMDW - Dividend Comparison

SPUT's dividend yield for the trailing twelve months is around 4.94%, less than AMDW's 53.42% yield.

Position	TTM	2025
AMDW Roundhill AMD WeeklyPay ETF	53.42%	34.78%
SPUT Innovator Equity Premium Income Daily PutWrite ETF	4.94%	4.66%

Frequently Asked Questions

Can I hold both SPUT and AMDW in my portfolio?

SPUT and AMDW have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPUT or AMDW?

AMDW has higher volatility (28.87%) compared to SPUT (2.32%). In terms of maximum drawdown, SPUT dropped -10.55% vs AMDW's -34.64%.

Which ETF is better, SPUT or AMDW?

On 1-year performance, AMDW leads with 209.29% vs 14.10% for SPUT. On fees, SPUT is cheaper at 0.79% per year. On volatility, SPUT has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPUT or AMDW?

Over the 1-year period, AMDW has performed better with a 209.29% return vs 14.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPUT or AMDW?

SPUT is cheaper with a 0.79% expense ratio, compared with 0.99% for AMDW.

Which ETF pays a higher dividend yield, SPUT or AMDW?

AMDW has the higher dividend yield at 53.42%, compared with 4.94% for SPUT.

What is the main difference between SPUT and AMDW?

They also come from different issuers: Innovator and Roundhill. Their fees differ too: 0.79% for SPUT and 0.99% for AMDW.

Which has better risk-adjusted returns?

AMDW currently has the higher Sharpe Ratio (2.36 vs 1.61), 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.