TOPW vs. CHPY

Last updated Aug 2, 2026

TOPW (Roundhill Top WeeklyPay ETF) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both Derivative Income funds. TOPW is passively managed, while CHPY is actively managed. Their 0.59 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.99% expense ratio.

Performance

TOPW vs. CHPY - Performance Comparison

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

Returns By Period

In the year-to-date period, TOPW achieves a 0.61% return, which is significantly lower than CHPY's 55.50% return.

TOPW

• 1D: 2.78%
• 1M: 2.62%
• 6M: 3.61%
• YTD: 0.61%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CHPY

• 1D: 0.27%
• 1M: -11.10%
• 6M: 39.35%
• YTD: 55.50%
• 1Y: 93.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 95.90%

*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)
CHPY YieldMax Semiconductor Portfolio Option Income ETF	$53.10M	$56.24M	$62.00M
TOPW Roundhill Top WeeklyPay ETF	$2.24M	$2.19M	$2.72M

TOPW vs. CHPY - Yearly Performance Comparison

	2026 (YTD)	2025
TOPW Roundhill Top WeeklyPay ETF	0.61%	-1.33%
CHPY YieldMax Semiconductor Portfolio Option Income ETF	55.50%	23.05%

Correlation

The correlation between TOPW and CHPY is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025	0.59

Return for Risk

TOPW vs. CHPY — Risk / Return Rank

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

TOPW

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

CHPY

CHPY Risk / Return Rank: 89
CHPY Sharpe Ratio Rank: 92
CHPY Sortino Ratio Rank: 85
CHPY Omega Ratio Rank: 88
CHPY Calmar Ratio Rank: 86
CHPY Martin Ratio Rank: 92

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.

TOPW vs. CHPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Top WeeklyPay ETF (TOPW) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). 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.

	TOPW	CHPY	Difference
Sharpe ratio: Return per unit of total volatility	—	2.41	—
Sortino ratio: Return per unit of downside risk	—	2.82	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	3.33	—
Martin ratio: Return relative to average drawdown	—	15.63	—

Drawdowns

TOPW vs. CHPY - Drawdown Comparison

The maximum TOPW drawdown since its inception was -29.87%, which is greater than CHPY's maximum drawdown of -27.64%. Use the drawdown chart below to compare losses from any high point for TOPW and CHPY.

Drawdown Indicators

	TOPW	CHPY	Difference
Max Drawdown Largest peak-to-trough decline	-29.87%	-27.64%	-2.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-27.64%	—
Current Drawdown Current decline from peak	-15.94%	-20.81%	+4.87%
Average Drawdown Average peak-to-trough decline	-13.53%	-3.03%	-10.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.88%	—

Volatility

Volatility by Period

	TOPW	CHPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	17.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.68%	38.28%	-10.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.68%	39.15%	-11.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.68%	39.15%	-11.47%

TOPW vs. CHPY - Expense Ratio Comparison

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

Dividends

TOPW vs. CHPY - Dividend Comparison

TOPW's dividend yield for the trailing twelve months is around 51.46%, more than CHPY's 38.69% yield.

Position	TTM	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	38.69%	28.19%
TOPW Roundhill Top WeeklyPay ETF	51.46%	21.52%

Frequently Asked Questions

Can I hold both TOPW and CHPY in my portfolio?

TOPW and CHPY have a correlation of 0.59, 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 CHPY?

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 CHPY?

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

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

TOPW has the higher dividend yield at 51.46%, compared with 38.69% for CHPY.

What is the main difference between TOPW and CHPY?

They also come from different issuers: Roundhill and YieldMax.