TPAY vs. NVDW

Last updated Jun 4, 2026

TPAY (Roundhill S&P 500 Target 10 Managed Distribution ETF) and NVDW (Roundhill ETF Trust Roundhill NVDA WeeklyPay ETF) are both Derivative Income funds from Roundhill. Both are actively managed. A 0.62 correlation means they provide meaningful diversification when combined. TPAY charges 0.49%/yr vs 0.99%/yr for NVDW.

Performance

TPAY vs. NVDW - 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 ETF Trust Roundhill NVDA WeeklyPay ETF (NVDW). 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*: —

NVDW

• 1D: -4.20%
• 1M: 9.65%
• YTD: 15.96%
• 6M: 20.80%
• 1Y: 56.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TPAY vs. NVDW - Yearly Performance Comparison

	2026 (YTD)
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF	10.10%
NVDW Roundhill ETF Trust Roundhill NVDA WeeklyPay ETF	15.65%

Correlation

The correlation between TPAY and NVDW is 0.62, 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	0.62

Return for Risk

TPAY vs. NVDW — Risk / Return Rank

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

NVDW

NVDW Risk / Return Rank: 38
NVDW Sharpe Ratio Rank: 38
NVDW Sortino Ratio Rank: 38
NVDW Omega Ratio Rank: 35
NVDW Calmar Ratio Rank: 45
NVDW Martin Ratio Rank: 35

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. NVDW - 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 ETF Trust Roundhill NVDA WeeklyPay ETF (NVDW). 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	NVDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.80	1.52	+1.28

Drawdowns

TPAY vs. NVDW - Drawdown Comparison

The maximum TPAY drawdown since its inception was -8.62%, smaller than the maximum NVDW drawdown of -25.54%. Use the drawdown chart below to compare losses from any high point for TPAY and NVDW.

Drawdown Indicators

	TPAY	NVDW	Difference
Max Drawdown Largest peak-to-trough decline	-8.62%	-25.54%	+16.92%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.54%	—
Current Drawdown Current decline from peak	-0.57%	-10.65%	+10.08%
Average Drawdown Average peak-to-trough decline	-1.82%	-8.19%	+6.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.49%	—

Volatility

Volatility by Period

	TPAY	NVDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	15.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.17%	41.15%	-26.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.17%	41.15%	-26.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.17%	41.15%	-26.98%

TPAY vs. NVDW - Expense Ratio Comparison

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

Dividends

TPAY vs. NVDW - Dividend Comparison

TPAY's dividend yield for the trailing twelve months is around 2.32%, less than NVDW's 58.16% yield.

Position	TTM	2025
NVDW Roundhill ETF Trust Roundhill NVDA WeeklyPay ETF	58.16%	38.94%
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF	2.32%	0.00%

Frequently Asked Questions

Can I hold both TPAY and NVDW in my portfolio?

TPAY and NVDW have a correlation of 0.62, 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 NVDW?

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 NVDW?

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

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

NVDW has the higher dividend yield at 58.16%, compared with 2.32% for TPAY.

What is the main difference between TPAY and NVDW?

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