TOPW vs. BUYW
TOPW (Roundhill Top WeeklyPay ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. TOPW is passively managed, while BUYW is actively managed. At a 0.47 correlation, their price movements are largely independent. TOPW charges 0.99%/yr vs 1.29%/yr for BUYW.
Performance
TOPW vs. BUYW - Performance Comparison
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Returns By Period
In the year-to-date period, TOPW achieves a 9.38% return, which is significantly higher than BUYW's 3.03% return.
TOPW
- 1D
- -0.33%
- 1M
- 4.93%
- YTD
- 9.38%
- 6M
- 1.97%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BUYW
- 1D
- -0.55%
- 1M
- 0.50%
- YTD
- 3.03%
- 6M
- 4.43%
- 1Y
- 9.81%
- 3Y*
- 8.61%
- 5Y*
- —
- 10Y*
- —
TOPW vs. BUYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TOPW Roundhill Top WeeklyPay ETF | 9.38% | -2.47% |
BUYW Main Buywrite ETF | 3.03% | 2.96% |
Correlation
The correlation between TOPW and BUYW is 0.47, 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 Sep 5, 2025 | 0.47 |
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Return for Risk
TOPW vs. BUYW — Risk / Return Rank
TOPW
BUYW
TOPW vs. BUYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill Top WeeklyPay ETF (TOPW) and Main Buywrite ETF (BUYW). 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.
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Sharpe Ratios by Period
| TOPW | BUYW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.03 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 1.15 | -0.82 |
Drawdowns
TOPW vs. BUYW - Drawdown Comparison
The maximum TOPW drawdown since its inception was -29.87%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for TOPW and BUYW.
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Drawdown Indicators
| TOPW | BUYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.87% | -9.36% | -20.51% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.59% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -9.36% | — |
Current DrawdownCurrent decline from peak | -8.62% | -0.55% | -8.07% |
Average DrawdownAverage peak-to-trough decline | -12.89% | -0.61% | -12.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.48% | — |
Volatility
TOPW vs. BUYW - Volatility Comparison
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Volatility by Period
| TOPW | BUYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.98% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.03% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.37% | 4.86% | +22.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.37% | 8.47% | +18.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.37% | 8.47% | +18.90% |
TOPW vs. BUYW - Expense Ratio Comparison
TOPW has a 0.99% expense ratio, which is lower than BUYW's 1.29% expense ratio.
Dividends
TOPW vs. BUYW - Dividend Comparison
TOPW's dividend yield for the trailing twelve months is around 39.71%, more than BUYW's 5.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BUYW Main Buywrite ETF | 5.93% | 5.89% | 5.93% | 5.95% | 0.50% |
TOPW Roundhill Top WeeklyPay ETF | 39.71% | 21.52% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TOPW and BUYW have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TOPW is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TOPW is cheaper with a 0.99% expense ratio, compared with 1.29% for BUYW.
TOPW has the higher dividend yield at 39.71%, compared with 5.93% for BUYW.
They also come from different issuers: Roundhill Investments and Main Funds. Their fees differ too: 0.99% for TOPW and 1.29% for BUYW.
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