TOPW vs. ARMW

Last updated Jun 4, 2026

TOPW (Roundhill Top WeeklyPay ETF) and ARMW (Roundhill ARM WeeklyPay ETF) are both Derivative Income funds from Roundhill Investments. TOPW is passively managed, while ARMW is actively managed. At a 0.48 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

TOPW vs. ARMW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Top WeeklyPay ETF (TOPW) and Roundhill ARM WeeklyPay ETF (ARMW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOPW achieves a 7.71% return, which is significantly lower than ARMW's 363.23% return.

TOPW

• 1D: -1.52%
• 1M: 3.60%
• YTD: 7.71%
• 6M: -0.67%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARMW

• 1D: 3.44%
• 1M: 128.75%
• YTD: 363.23%
• 6M: 245.13%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TOPW vs. ARMW - Yearly Performance Comparison

	2026 (YTD)	2025
TOPW Roundhill Top WeeklyPay ETF	7.71%	-11.27%
ARMW Roundhill ARM WeeklyPay ETF	363.23%	-40.49%

Correlation

The correlation between TOPW and ARMW is 0.48, 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 24, 2025	0.48

Return for Risk

TOPW vs. ARMW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Top WeeklyPay ETF (TOPW) and Roundhill ARM WeeklyPay ETF (ARMW). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TOPW	ARMW	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	4.96	-4.71

Drawdowns

TOPW vs. ARMW - Drawdown Comparison

The maximum TOPW drawdown since its inception was -29.87%, smaller than the maximum ARMW drawdown of -48.47%. Use the drawdown chart below to compare losses from any high point for TOPW and ARMW.

Drawdown Indicators

	TOPW	ARMW	Difference
Max Drawdown Largest peak-to-trough decline	-29.87%	-48.47%	+18.60%
Current Drawdown Current decline from peak	-10.02%	0.00%	-10.02%
Average Drawdown Average peak-to-trough decline	-12.88%	-26.55%	+13.67%

Volatility

Volatility by Period

	TOPW	ARMW	Difference
Volatility (1Y) Calculated over the trailing 1-year period	27.36%	88.46%	-61.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.36%	88.46%	-61.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.36%	88.46%	-61.10%

TOPW vs. ARMW - Expense Ratio Comparison

Both TOPW and ARMW have an expense ratio of 0.99%.

Dividends

TOPW vs. ARMW - Dividend Comparison

TOPW's dividend yield for the trailing twelve months is around 40.33%, more than ARMW's 15.20% yield.

Position	TTM	2025
ARMW Roundhill ARM WeeklyPay ETF	15.20%	16.38%
TOPW Roundhill Top WeeklyPay ETF	40.33%	21.52%

Frequently Asked Questions

Can I hold both TOPW and ARMW in my portfolio?

TOPW and ARMW have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TOPW or ARMW?

Both ETFs have the same 0.99% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TOPW or ARMW?

TOPW and ARMW have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, TOPW or ARMW?

TOPW has the higher dividend yield at 40.33%, compared with 15.20% for ARMW.