TPAY vs. ARMW

Last updated Jun 4, 2026

TPAY (Roundhill S&P 500 Target 10 Managed Distribution ETF) and ARMW (Roundhill ARM WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. A 0.60 correlation means they provide meaningful diversification when combined. TPAY charges 0.49%/yr vs 0.99%/yr for ARMW.

Performance

TPAY vs. ARMW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 Target 10 Managed Distribution ETF (TPAY) and Roundhill ARM WeeklyPay ETF (ARMW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TPAY

• 1D: -0.57%
• 1M: 5.18%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARMW

• 1D: 3.44%
• 1M: 128.75%
• YTD: 363.23%
• 6M: 245.13%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TPAY vs. ARMW - Yearly Performance Comparison

	2026 (YTD)
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF	10.10%
ARMW Roundhill ARM WeeklyPay ETF	291.20%

Correlation

The correlation between TPAY and ARMW is 0.60, 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 Feb 19, 2026	0.60

Return for Risk

TPAY vs. ARMW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 Target 10 Managed Distribution ETF (TPAY) and Roundhill ARM WeeklyPay ETF (ARMW). 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

	TPAY	ARMW	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.80	4.96	-2.16

Drawdowns

TPAY vs. ARMW - Drawdown Comparison

The maximum TPAY drawdown since its inception was -8.62%, smaller than the maximum ARMW drawdown of -48.47%. Use the drawdown chart below to compare losses from any high point for TPAY and ARMW.

Drawdown Indicators

	TPAY	ARMW	Difference
Max Drawdown Largest peak-to-trough decline	-8.62%	-48.47%	+39.85%
Current Drawdown Current decline from peak	-0.57%	0.00%	-0.57%
Average Drawdown Average peak-to-trough decline	-1.82%	-26.55%	+24.73%

Volatility

Volatility by Period

	TPAY	ARMW	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.17%	88.46%	-74.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.17%	88.46%	-74.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.17%	88.46%	-74.29%

TPAY vs. ARMW - Expense Ratio Comparison

TPAY has a 0.49% expense ratio, which is lower than ARMW's 0.99% expense ratio.

Dividends

TPAY vs. ARMW - Dividend Comparison

TPAY's dividend yield for the trailing twelve months is around 2.32%, less than ARMW's 15.20% yield.

Position	TTM	2025
ARMW Roundhill ARM WeeklyPay ETF	15.20%	16.38%
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF	2.32%	0.00%

Frequently Asked Questions

Can I hold both TPAY and ARMW in my portfolio?

TPAY and ARMW have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TPAY or ARMW?

On fees, TPAY is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TPAY or ARMW?

TPAY is cheaper with a 0.49% expense ratio, compared with 0.99% for ARMW.

Which ETF pays a higher dividend yield, TPAY or ARMW?

ARMW has the higher dividend yield at 15.20%, compared with 2.32% for TPAY.

What is the main difference between TPAY and ARMW?

They also come from different issuers: Roundhill and Roundhill Investments. Their fees differ too: 0.49% for TPAY and 0.99% for ARMW.