TPAY vs. QDVO

Last updated Jul 3, 2026

TPAY (Roundhill S&P 500 Target 10 Managed Distribution ETF) and QDVO (Amplify CWP Growth & Income ETF) are both Derivative Income funds. Both are actively managed. Their correlation of 0.92 suggests significant overlap in exposure. TPAY charges 0.49%/yr vs 0.56%/yr for QDVO.

Performance

TPAY vs. QDVO - 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 Amplify CWP Growth & Income ETF (QDVO). 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*: —

QDVO

• 1D: -0.30%
• 1M: -2.54%
• 6M: 7.61%
• YTD: 7.61%
• 1Y: 20.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TPAY vs. QDVO - Yearly Performance Comparison

	2026 (YTD)
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF	8.65%
QDVO Amplify CWP Growth & Income ETF	10.09%

Correlation

The correlation between TPAY and QDVO is 0.92, 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	0.92

Return for Risk

TPAY vs. QDVO — 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.

QDVO

QDVO Risk / Return Rank: 53
QDVO Sharpe Ratio Rank: 55
QDVO Sortino Ratio Rank: 55
QDVO Omega Ratio Rank: 54
QDVO Calmar Ratio Rank: 47
QDVO Martin Ratio Rank: 52

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. QDVO - 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 Amplify CWP Growth & Income ETF (QDVO). 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	QDVO	Difference
Sharpe ratio: Return per unit of total volatility	—	1.60	—
Sortino ratio: Return per unit of downside risk	—	2.25	—
Omega ratio: Gain probability vs. loss probability	—	1.29	—
Calmar ratio: Return relative to maximum drawdown	—	2.00	—
Martin ratio: Return relative to average drawdown	—	7.54	—

Drawdowns

TPAY vs. QDVO - Drawdown Comparison

The maximum TPAY drawdown since its inception was -8.62%, smaller than the maximum QDVO drawdown of -17.75%. Use the drawdown chart below to compare losses from any high point for TPAY and QDVO.

Drawdown Indicators

	TPAY	QDVO	Difference
Max Drawdown Largest peak-to-trough decline	-8.62%	-17.75%	+9.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.21%	—
Current Drawdown Current decline from peak	-1.77%	-2.92%	+1.15%
Average Drawdown Average peak-to-trough decline	-1.89%	-2.43%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.70%	—

Volatility

Volatility by Period

	TPAY	QDVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.81%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.60%	12.75%	+1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.60%	17.51%	-2.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.60%	17.51%	-2.91%

TPAY vs. QDVO - Expense Ratio Comparison

TPAY has a 0.49% expense ratio, which is lower than QDVO's 0.56% expense ratio.

Dividends

TPAY vs. QDVO - Dividend Comparison

TPAY's dividend yield for the trailing twelve months is around 3.15%, less than QDVO's 10.56% yield.

Position	TTM	2025	2024
QDVO Amplify CWP Growth & Income ETF	10.56%	9.92%	2.79%
TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF	3.15%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TPAY and QDVO in my portfolio?

With a correlation of 0.92, TPAY and QDVO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, TPAY or QDVO?

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 QDVO?

TPAY is cheaper with a 0.49% expense ratio, compared with 0.56% for QDVO.

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

QDVO has the higher dividend yield at 10.56%, compared with 3.15% for TPAY.

What is the main difference between TPAY and QDVO?

They also come from different issuers: Roundhill and Amplify. Their fees differ too: 0.49% for TPAY and 0.56% for QDVO.