TOPW vs. QDTE
TOPW (Roundhill Top WeeklyPay ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both Derivative Income funds. TOPW is passively managed, while QDTE is actively managed. Their correlation of 0.82 suggests significant overlap in exposure. TOPW charges 0.99%/yr vs 0.97%/yr for QDTE.
Performance
TOPW vs. QDTE - Performance Comparison
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Returns By Period
In the year-to-date period, TOPW achieves a 2.53% return, which is significantly lower than QDTE's 12.44% return.
TOPW
- 1D
- 0.08%
- 1M
- -5.06%
- YTD
- 2.53%
- 6M
- -5.80%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QDTE
- 1D
- 1.85%
- 1M
- 0.70%
- YTD
- 12.44%
- 6M
- 11.71%
- 1Y
- 34.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TOPW vs. QDTE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TOPW Roundhill Top WeeklyPay ETF | 2.53% | -2.47% |
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF | 12.44% | 8.93% |
Correlation
The correlation between TOPW and QDTE is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 5, 2025 | 0.82 |
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Return for Risk
TOPW vs. QDTE — Risk / Return Rank
TOPW
QDTE
TOPW vs. QDTE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill Top WeeklyPay ETF (TOPW) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). 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 | QDTE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.20 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.00 | 1.17 | -1.17 |
Drawdowns
TOPW vs. QDTE - Drawdown Comparison
The maximum TOPW drawdown since its inception was -29.87%, which is greater than QDTE's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for TOPW and QDTE.
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Drawdown Indicators
| TOPW | QDTE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.87% | -22.86% | -7.01% |
Max Drawdown (1Y)Largest decline over 1 year | — | -10.20% | — |
Current DrawdownCurrent decline from peak | -14.34% | -3.70% | -10.64% |
Average DrawdownAverage peak-to-trough decline | -12.88% | -3.14% | -9.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.55% | — |
Volatility
TOPW vs. QDTE - Volatility Comparison
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Volatility by Period
| TOPW | QDTE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.57% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 12.26% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.60% | 15.71% | +11.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.60% | 18.72% | +8.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.60% | 18.72% | +8.88% |
TOPW vs. QDTE - Expense Ratio Comparison
TOPW has a 0.99% expense ratio, which is higher than QDTE's 0.97% expense ratio.
Dividends
TOPW vs. QDTE - Dividend Comparison
TOPW's dividend yield for the trailing twelve months is around 42.36%, less than QDTE's 44.14% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF | 44.14% | 49.49% | 32.09% |
TOPW Roundhill Top WeeklyPay ETF | 42.36% | 21.52% | 0.00% |
Frequently Asked Questions
TOPW and QDTE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QDTE is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QDTE is cheaper with a 0.97% expense ratio, compared with 0.99% for TOPW.
QDTE has the higher dividend yield at 44.14%, compared with 42.36% for TOPW.
They also come from different issuers: Roundhill Investments and Roundhill. Their fees differ too: 0.99% for TOPW and 0.97% for QDTE.
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