TPAY vs. CHAT

Last updated Jun 24, 2026

TPAY (Roundhill S&P 500 Target 10 Managed Distribution ETF) and CHAT (Roundhill Generative AI & Technology ETF) are both exchange-traded funds - TPAY is a Derivative Income fund actively managed by Roundhill, while CHAT is a Technology Equities fund actively managed by Roundhill. Both are actively managed. A 0.78 correlation means they provide meaningful diversification when combined. TPAY charges 0.49%/yr vs 0.75%/yr for CHAT.

Performance

TPAY vs. CHAT - 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 Generative AI & Technology ETF (CHAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TPAY

• 1D: -1.18%
• 1M: -1.07%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CHAT

• 1D: -7.40%
• 1M: 7.27%
• YTD: 63.45%
• 6M: 62.78%
• 1Y: 115.67%
• 3Y*: 51.32%
• 5Y*: —
• 10Y*: —

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

TPAY vs. CHAT - Yearly Performance Comparison

	2026 (YTD)
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF	7.46%
CHAT Roundhill Generative AI & Technology ETF	51.36%

Correlation

The correlation between TPAY and CHAT is 0.78, 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 18, 2026	0.78

Return for Risk

TPAY vs. CHAT — Risk / Return Rank

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

TPAY

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

CHAT

CHAT Risk / Return Rank: 89
CHAT Sharpe Ratio Rank: 94
CHAT Sortino Ratio Rank: 84
CHAT Omega Ratio Rank: 85
CHAT Calmar Ratio Rank: 95
CHAT Martin Ratio Rank: 90

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.

TPAY vs. CHAT - 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 Generative AI & Technology ETF (CHAT). 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.

	TPAY	CHAT	Difference
Sharpe ratio: Return per unit of total volatility	—	3.34	—
Sortino ratio: Return per unit of downside risk	—	3.54	—
Omega ratio: Gain probability vs. loss probability	—	1.49	—
Calmar ratio: Return relative to maximum drawdown	—	7.14	—
Martin ratio: Return relative to average drawdown	—	19.81	—

Drawdowns

TPAY vs. CHAT - Drawdown Comparison

The maximum TPAY drawdown since its inception was -8.62%, smaller than the maximum CHAT drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for TPAY and CHAT.

Drawdown Indicators

	TPAY	CHAT	Difference
Max Drawdown Largest peak-to-trough decline	-8.62%	-31.34%	+22.72%
Max Drawdown (1Y) Largest decline over 1 year	—	-16.28%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-31.34%	—
Current Drawdown Current decline from peak	-2.85%	-7.40%	+4.55%
Average Drawdown Average peak-to-trough decline	-1.85%	-5.38%	+3.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.86%	—

Volatility

Volatility by Period

	TPAY	CHAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.25%	—
Volatility (6M) Calculated over the trailing 6-month period	—	29.60%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.96%	34.87%	-19.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.96%	31.22%	-16.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.96%	31.22%	-16.26%

TPAY vs. CHAT - Expense Ratio Comparison

TPAY has a 0.49% expense ratio, which is lower than CHAT's 0.75% expense ratio.

Dividends

TPAY vs. CHAT - Dividend Comparison

TPAY's dividend yield for the trailing twelve months is around 3.19%, more than CHAT's 1.74% yield.

Position	TTM	2025
CHAT Roundhill Generative AI & Technology ETF	1.74%	2.85%
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF	3.19%	0.00%

Frequently Asked Questions

Can I hold both TPAY and CHAT in my portfolio?

TPAY and CHAT have a correlation of 0.78, 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 CHAT?

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 CHAT?

TPAY is cheaper with a 0.49% expense ratio, compared with 0.75% for CHAT.

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

TPAY has the higher dividend yield at 3.19%, compared with 1.74% for CHAT.

What is the main difference between TPAY and CHAT?

TPAY is categorized as Derivative Income, while CHAT is Technology Equities. Their fees differ too: 0.49% for TPAY and 0.75% for CHAT.