SPUT vs. GLDW
SPUT (Innovator Equity Premium Income Daily PutWrite ETF) and GLDW (Roundhill Gold WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. At a 0.39 correlation, their price movements are largely independent. SPUT charges 0.79%/yr vs 0.99%/yr for GLDW.
Performance
SPUT vs. GLDW - Performance Comparison
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Returns By Period
In the year-to-date period, SPUT achieves a 4.74% return, which is significantly higher than GLDW's -8.13% return.
SPUT
- 1D
- -0.70%
- 1M
- -1.61%
- YTD
- 4.74%
- 6M
- 4.48%
- 1Y
- 14.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLDW
- 1D
- -1.99%
- 1M
- -10.73%
- YTD
- -8.13%
- 6M
- -12.71%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPUT vs. GLDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPUT Innovator Equity Premium Income Daily PutWrite ETF | 4.74% | 0.90% |
GLDW Roundhill Gold WeeklyPay ETF | -8.13% | 9.36% |
Correlation
The correlation between SPUT and GLDW is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 30, 2025 | 0.39 |
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Return for Risk
SPUT vs. GLDW — Risk / Return Rank
SPUT
GLDW
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPUT vs. GLDW - 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 Gold WeeklyPay ETF (GLDW). 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 | GLDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.38 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.84 | — | — |
| Martin ratioReturn relative to average drawdown | 14.69 | — | — |
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Drawdowns
SPUT vs. GLDW - Drawdown Comparison
The maximum SPUT drawdown since its inception was -10.55%, smaller than the maximum GLDW drawdown of -30.07%. Use the drawdown chart below to compare losses from any high point for SPUT and GLDW.
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Drawdown Indicators
| SPUT | GLDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.55% | -30.07% | +19.52% |
Max Drawdown (1Y)Largest decline over 1 year | -3.81% | — | — |
Current DrawdownCurrent decline from peak | -2.68% | -29.51% | +26.83% |
Average DrawdownAverage peak-to-trough decline | -0.94% | -10.30% | +9.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | — | — |
Volatility
SPUT vs. GLDW - Volatility Comparison
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Volatility by Period
| SPUT | GLDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 6.18% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.76% | 37.17% | -29.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.35% | 37.17% | -25.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.35% | 37.17% | -25.82% |
SPUT vs. GLDW - Expense Ratio Comparison
SPUT has a 0.79% expense ratio, which is lower than GLDW's 0.99% expense ratio.
Dividends
SPUT vs. GLDW - Dividend Comparison
SPUT's dividend yield for the trailing twelve months is around 5.15%, less than GLDW's 23.10% yield.
| Position | TTM | 2025 |
|---|---|---|
GLDW Roundhill Gold WeeklyPay ETF | 23.10% | 3.75% |
SPUT Innovator Equity Premium Income Daily PutWrite ETF | 5.15% | 4.66% |
Frequently Asked Questions
SPUT and GLDW have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPUT is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPUT is cheaper with a 0.79% expense ratio, compared with 0.99% for GLDW.
GLDW has the higher dividend yield at 23.10%, compared with 5.15% for SPUT.
They also come from different issuers: Innovator and State Street. Their fees differ too: 0.79% for SPUT and 0.99% for GLDW.
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