TOPW vs. DIVO

Last updated Jun 4, 2026

TOPW (Roundhill Top WeeklyPay ETF) and DIVO (Amplify CWP Enhanced Dividend Income ETF) are both Derivative Income funds. TOPW is passively managed, while DIVO is actively managed. At a 0.40 correlation, their price movements are largely independent. TOPW charges 0.99%/yr vs 0.56%/yr for DIVO.

Performance

TOPW vs. DIVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Top WeeklyPay ETF (TOPW) and Amplify CWP Enhanced Dividend Income ETF (DIVO). 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 higher than DIVO's 5.53% return.

TOPW

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

DIVO

• 1D: -0.54%
• 1M: 2.34%
• YTD: 5.53%
• 6M: 5.82%
• 1Y: 18.37%
• 3Y*: 15.35%
• 5Y*: 10.61%
• 10Y*: —

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

TOPW vs. DIVO - Yearly Performance Comparison

	2026 (YTD)	2025
TOPW Roundhill Top WeeklyPay ETF	7.71%	-2.47%
DIVO Amplify CWP Enhanced Dividend Income ETF	5.53%	5.04%

Correlation

The correlation between TOPW and DIVO is 0.40, 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	0.40

Return for Risk

TOPW vs. DIVO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DIVO

DIVO Risk / Return Rank: 61
DIVO Sharpe Ratio Rank: 59
DIVO Sortino Ratio Rank: 64
DIVO Omega Ratio Rank: 58
DIVO Calmar Ratio Rank: 61
DIVO Martin Ratio Rank: 61

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TOPW vs. DIVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Top WeeklyPay ETF (TOPW) and Amplify CWP Enhanced Dividend Income ETF (DIVO). 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	DIVO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.06	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.85	-0.60

Drawdowns

TOPW vs. DIVO - Drawdown Comparison

The maximum TOPW drawdown since its inception was -29.87%, roughly equal to the maximum DIVO drawdown of -30.04%. Use the drawdown chart below to compare losses from any high point for TOPW and DIVO.

Drawdown Indicators

	TOPW	DIVO	Difference
Max Drawdown Largest peak-to-trough decline	-29.87%	-30.04%	+0.17%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.95%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.72%	—
Current Drawdown Current decline from peak	-10.02%	-0.82%	-9.20%
Average Drawdown Average peak-to-trough decline	-12.88%	-2.61%	-10.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.64%	—

Volatility

Volatility by Period

	TOPW	DIVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.01%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.88%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.36%	8.97%	+18.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.36%	11.94%	+15.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.36%	14.84%	+12.52%

TOPW vs. DIVO - Expense Ratio Comparison

TOPW has a 0.99% expense ratio, which is higher than DIVO's 0.56% expense ratio.

Dividends

TOPW vs. DIVO - Dividend Comparison

TOPW's dividend yield for the trailing twelve months is around 40.33%, more than DIVO's 6.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIVO Amplify CWP Enhanced Dividend Income ETF	6.42%	6.44%	4.70%	4.67%	4.76%	4.79%	4.91%	8.16%	5.27%	3.83%
TOPW Roundhill Top WeeklyPay ETF	40.33%	21.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TOPW and DIVO in my portfolio?

TOPW and DIVO have a correlation of 0.40, 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 DIVO?

On fees, DIVO is cheaper at 0.56% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TOPW or DIVO?

DIVO is cheaper with a 0.56% expense ratio, compared with 0.99% for TOPW.

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

TOPW has the higher dividend yield at 40.33%, compared with 6.42% for DIVO.

What is the main difference between TOPW and DIVO?

They also come from different issuers: Roundhill Investments and Amplify. Their fees differ too: 0.99% for TOPW and 0.56% for DIVO.