TPAY vs. MAGY

Last updated Jul 3, 2026

TPAY (Roundhill S&P 500 Target 10 Managed Distribution ETF) and MAGY (Roundhill Magnificent Seven Covered Call ETF) are both Derivative Income funds from Roundhill. Both are actively managed. Their correlation of 0.82 suggests significant overlap in exposure. TPAY charges 0.49%/yr vs 0.99%/yr for MAGY.

Performance

TPAY vs. MAGY - 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 Magnificent Seven Covered Call ETF (MAGY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TPAY

• 1D: -0.19%
• 1M: -1.77%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MAGY

• 1D: -0.01%
• 1M: -7.09%
• 6M: -7.32%
• YTD: -7.32%
• 1Y: 3.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TPAY vs. MAGY - Yearly Performance Comparison

	2026 (YTD)
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF	8.65%
MAGY Roundhill Magnificent Seven Covered Call ETF	-1.63%

Correlation

The correlation between TPAY and MAGY 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 Feb 18, 2026	0.82

Return for Risk

TPAY vs. MAGY — 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.

MAGY

MAGY Risk / Return Rank: 12
MAGY Sharpe Ratio Rank: 12
MAGY Sortino Ratio Rank: 11
MAGY Omega Ratio Rank: 11
MAGY Calmar Ratio Rank: 11
MAGY Martin Ratio Rank: 12

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. MAGY - 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 Magnificent Seven Covered Call ETF (MAGY). 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	MAGY	Difference
Sharpe ratio: Return per unit of total volatility	—	0.21	—
Sortino ratio: Return per unit of downside risk	—	0.37	—
Omega ratio: Gain probability vs. loss probability	—	1.05	—
Calmar ratio: Return relative to maximum drawdown	—	0.23	—
Martin ratio: Return relative to average drawdown	—	0.67	—

Drawdowns

TPAY vs. MAGY - Drawdown Comparison

The maximum TPAY drawdown since its inception was -8.62%, smaller than the maximum MAGY drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for TPAY and MAGY.

Drawdown Indicators

	TPAY	MAGY	Difference
Max Drawdown Largest peak-to-trough decline	-8.62%	-14.29%	+5.67%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.29%	—
Current Drawdown Current decline from peak	-1.77%	-9.33%	+7.56%
Average Drawdown Average peak-to-trough decline	-1.89%	-3.05%	+1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.91%	—

Volatility

Volatility by Period

	TPAY	MAGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.06%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.60%	15.67%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.60%	15.57%	-0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.60%	15.57%	-0.97%

TPAY vs. MAGY - Expense Ratio Comparison

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

Dividends

TPAY vs. MAGY - Dividend Comparison

TPAY's dividend yield for the trailing twelve months is around 3.15%, less than MAGY's 40.73% yield.

Position	TTM	2025
MAGY Roundhill Magnificent Seven Covered Call ETF	40.73%	23.38%
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF	3.15%	0.00%

Frequently Asked Questions

Can I hold both TPAY and MAGY in my portfolio?

TPAY and MAGY 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.

Which ETF is better, TPAY or MAGY?

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 MAGY?

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

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

MAGY has the higher dividend yield at 40.73%, compared with 3.15% for TPAY.

What is the main difference between TPAY and MAGY?

Their fees differ too: 0.49% for TPAY and 0.99% for MAGY.