TPAY vs. DRAM

Last updated Jul 14, 2026

TPAY (Roundhill S&P 500 Target 10 Managed Distribution ETF) and DRAM (Roundhill Memory ETF) are both exchange-traded funds - TPAY is a Derivative Income fund actively managed by Roundhill, while DRAM is a Technology Equities fund actively managed by Roundhill. Both are actively managed. A 0.58 correlation means they provide meaningful diversification when combined. TPAY charges 0.49%/yr vs 0.65%/yr for DRAM.

Performance

TPAY vs. DRAM - 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 Memory ETF (DRAM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TPAY

• 1D: -0.77%
• 1M: 1.13%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DRAM

• 1D: -9.11%
• 1M: -11.86%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TPAY vs. DRAM - Yearly Performance Comparison

	2026 (YTD)
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF	14.40%
DRAM Roundhill Memory ETF	112.22%

Correlation

The correlation between TPAY and DRAM is 0.58, 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 Apr 2, 2026	0.58

Return for Risk

TPAY vs. DRAM - 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 Memory ETF (DRAM). 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.

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

Drawdowns

TPAY vs. DRAM - Drawdown Comparison

The maximum TPAY drawdown since its inception was -8.62%, smaller than the maximum DRAM drawdown of -29.01%. Use the drawdown chart below to compare losses from any high point for TPAY and DRAM.

Drawdown Indicators

	TPAY	DRAM	Difference
Max Drawdown Largest peak-to-trough decline	-8.62%	-29.01%	+20.39%
Current Drawdown Current decline from peak	-1.21%	-29.01%	+27.80%
Average Drawdown Average peak-to-trough decline	-1.84%	-5.85%	+4.01%

Volatility

Volatility by Period

	TPAY	DRAM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.36%	96.31%	-81.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.36%	96.31%	-81.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.36%	96.31%	-81.95%

TPAY vs. DRAM - Expense Ratio Comparison

TPAY has a 0.49% expense ratio, which is lower than DRAM's 0.65% expense ratio.

Dividends

TPAY vs. DRAM - Dividend Comparison

TPAY's dividend yield for the trailing twelve months is around 3.95%, while DRAM has not paid dividends to shareholders.

Position	TTM
DRAM Roundhill Memory ETF	0.00%
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF	3.95%

Frequently Asked Questions

Can I hold both TPAY and DRAM in my portfolio?

TPAY and DRAM have a correlation of 0.58, 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 DRAM?

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 DRAM?

TPAY is cheaper with a 0.49% expense ratio, compared with 0.65% for DRAM.

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

TPAY has the higher dividend yield at 3.95%, compared with 0.00% for DRAM.

What is the main difference between TPAY and DRAM?

TPAY is categorized as Derivative Income, while DRAM is Technology Equities. Their fees differ too: 0.49% for TPAY and 0.65% for DRAM.