TOPW vs. IYW
TOPW (Roundhill Top WeeklyPay ETF) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - TOPW is a Derivative Income fund tracking the Solactive Roundhill WeeklyPay Universe Index, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. A 0.80 correlation means they provide meaningful diversification when combined. TOPW charges 0.99%/yr vs 0.38%/yr for IYW.
Performance
TOPW vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, TOPW achieves a -0.72% return, which is significantly lower than IYW's 22.66% return.
TOPW
- 1D
- -0.23%
- 1M
- -8.87%
- YTD
- -0.72%
- 6M
- -5.10%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IYW
- 1D
- 0.61%
- 1M
- 2.53%
- YTD
- 22.66%
- 6M
- 23.40%
- 1Y
- 50.17%
- 3Y*
- 32.06%
- 5Y*
- 21.19%
- 10Y*
- 25.63%
TOPW vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TOPW Roundhill Top WeeklyPay ETF | -0.72% | -1.33% |
IYW iShares U.S. Technology ETF | 22.66% | 9.89% |
Correlation
The correlation between TOPW and IYW is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025 | 0.80 |
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Return for Risk
TOPW vs. IYW — Risk / Return Rank
TOPW
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IYW
TOPW vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill Top WeeklyPay ETF (TOPW) and iShares U.S. Technology ETF (IYW). 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 | IYW | 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 | — | 2.70 | — |
| Martin ratioReturn relative to average drawdown | — | 8.68 | — |
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Drawdowns
TOPW vs. IYW - Drawdown Comparison
The maximum TOPW drawdown since its inception was -29.87%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for TOPW and IYW.
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Drawdown Indicators
| TOPW | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.87% | -81.90% | +52.03% |
Max Drawdown (1Y)Largest decline over 1 year | — | -17.81% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.47% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.44% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.44% | — |
Current DrawdownCurrent decline from peak | -17.05% | -5.81% | -11.24% |
Average DrawdownAverage peak-to-trough decline | -12.90% | -34.62% | +21.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.54% | — |
Volatility
TOPW vs. IYW - Volatility Comparison
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Volatility by Period
| TOPW | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.41% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 17.67% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.52% | 21.47% | +6.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.52% | 26.07% | +1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.52% | 25.20% | +2.32% |
TOPW vs. IYW - Expense Ratio Comparison
TOPW has a 0.99% expense ratio, which is higher than IYW's 0.38% expense ratio.
Dividends
TOPW vs. IYW - Dividend Comparison
TOPW's dividend yield for the trailing twelve months is around 44.93%, more than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
TOPW Roundhill Top WeeklyPay ETF | 44.93% | 21.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TOPW and IYW have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IYW is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IYW is cheaper with a 0.38% expense ratio, compared with 0.99% for TOPW.
TOPW has the higher dividend yield at 44.93%, compared with 0.11% for IYW.
TOPW is categorized as Derivative Income, while IYW is Technology Equities. TOPW tracks Solactive Roundhill WeeklyPay Universe Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. They also come from different issuers: Roundhill Investments and iShares. Their fees differ too: 0.99% for TOPW and 0.38% for IYW.
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