TSLW vs. BUYW

Last updated Jun 4, 2026

TSLW (Roundhill TSLA WeeklyPay™ ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. Both are actively managed. Over the past year, TSLW returned 20.22% vs 9.76% for BUYW. At a 0.32 correlation, their price movements are largely independent. TSLW charges 0.99%/yr vs 1.29%/yr for BUYW.

Performance

TSLW vs. BUYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill TSLA WeeklyPay™ ETF (TSLW) and Main Buywrite ETF (BUYW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLW achieves a -9.26% return, which is significantly lower than BUYW's 3.39% return.

TSLW

• 1D: -0.18%
• 1M: 9.09%
• YTD: -9.26%
• 6M: -9.14%
• 1Y: 20.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUYW

• 1D: 0.35%
• 1M: 0.99%
• YTD: 3.39%
• 6M: 4.27%
• 1Y: 9.76%
• 3Y*: 8.73%
• 5Y*: —
• 10Y*: —

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

TSLW vs. BUYW - Yearly Performance Comparison

	2026 (YTD)	2025
TSLW Roundhill TSLA WeeklyPay™ ETF	-9.26%	33.77%
BUYW Main Buywrite ETF	3.39%	6.58%

Correlation

The correlation between TSLW and BUYW is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jun 3, 2025	0.32

Return for Risk

TSLW vs. BUYW — Risk / Return Rank

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

TSLW

TSLW Risk / Return Rank: 15
TSLW Sharpe Ratio Rank: 14
TSLW Sortino Ratio Rank: 17
TSLW Omega Ratio Rank: 17
TSLW Calmar Ratio Rank: 16
TSLW Martin Ratio Rank: 15

BUYW

BUYW Risk / Return Rank: 71
BUYW Sharpe Ratio Rank: 59
BUYW Sortino Ratio Rank: 66
BUYW Omega Ratio Rank: 66
BUYW Calmar Ratio Rank: 75
BUYW Martin Ratio Rank: 89

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.

TSLW vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill TSLA WeeklyPay™ ETF (TSLW) and Main Buywrite ETF (BUYW). 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.

	TSLW	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	0.37	2.03	-1.66
Sortino ratio: Return per unit of downside risk	0.87	3.08	-2.21
Omega ratio: Gain probability vs. loss probability	1.11	1.40	-0.30
Calmar ratio: Return relative to maximum drawdown	0.57	3.79	-3.22
Martin ratio: Return relative to average drawdown	1.29	20.24	-18.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLW vs. BUYW - Sharpe Ratio Comparison

The current TSLW Sharpe Ratio is 0.37, which is lower than the BUYW Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of TSLW and BUYW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TSLW	BUYW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	2.03	-1.66
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	1.17	-0.78

Drawdowns

TSLW vs. BUYW - Drawdown Comparison

The maximum TSLW drawdown since its inception was -35.80%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for TSLW and BUYW.

Drawdown Indicators

	TSLW	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-35.80%	-9.36%	-26.44%
Max Drawdown (1Y) Largest decline over 1 year	-35.80%	-2.59%	-33.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Current Drawdown Current decline from peak	-18.23%	-0.21%	-18.02%
Average Drawdown Average peak-to-trough decline	-12.88%	-0.61%	-12.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.77%	0.48%	+15.29%

Volatility

TSLW vs. BUYW - Volatility Comparison

Roundhill TSLA WeeklyPay™ ETF (TSLW) has a higher volatility of 14.56% compared to Main Buywrite ETF (BUYW) at 1.02%. This indicates that TSLW's price experiences larger fluctuations and is considered to be riskier than BUYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLW	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.56%	1.02%	+13.54%
Volatility (6M) Calculated over the trailing 6-month period	32.83%	4.03%	+28.80%
Volatility (1Y) Calculated over the trailing 1-year period	55.52%	4.85%	+50.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.52%	8.47%	+47.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.52%	8.47%	+47.05%

TSLW vs. BUYW - Expense Ratio Comparison

TSLW has a 0.99% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

TSLW vs. BUYW - Dividend Comparison

TSLW's dividend yield for the trailing twelve months is around 84.61%, more than BUYW's 5.91% yield.

Position	TTM	2025	2024	2023	2022
BUYW Main Buywrite ETF	5.91%	5.89%	5.93%	5.95%	0.50%
TSLW Roundhill TSLA WeeklyPay™ ETF	84.61%	49.31%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLW and BUYW in my portfolio?

TSLW and BUYW have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLW or BUYW?

TSLW has higher volatility (14.56%) compared to BUYW (1.02%). In terms of maximum drawdown, TSLW dropped -35.80% vs BUYW's -9.36%.

Which ETF is better, TSLW or BUYW?

On 1-year performance, TSLW leads with 20.22% vs 9.76% for BUYW. On fees, TSLW is cheaper at 0.99% per year. On volatility, BUYW has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLW or BUYW?

Over the 1-year period, TSLW has performed better with a 20.22% return vs 9.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLW or BUYW?

TSLW is cheaper with a 0.99% expense ratio, compared with 1.29% for BUYW.

Which ETF pays a higher dividend yield, TSLW or BUYW?

TSLW has the higher dividend yield at 84.61%, compared with 5.91% for BUYW.

What is the main difference between TSLW and BUYW?

They also come from different issuers: Roundhill and Main Funds. Their fees differ too: 0.99% for TSLW and 1.29% for BUYW.

Which has better risk-adjusted returns?

BUYW currently has the higher Sharpe Ratio (2.03 vs 0.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.