TSLW vs. IWMY

Last updated Jul 21, 2026

TSLW (Roundhill TSLA WeeklyPay™ ETF) and IWMY (Defiance R2000 Weekly Distribution ETF) are both exchange-traded funds - TSLW is a Derivative Income fund actively managed by Roundhill, while IWMY is a Options Trading fund actively managed by Defiance. Both are actively managed. Over the past year, TSLW returned 7.72% vs 17.50% for IWMY. At a 0.49 correlation, their price movements are largely independent. TSLW charges 0.99%/yr vs 1.05%/yr for IWMY.

Performance

TSLW vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill TSLA WeeklyPay™ ETF (TSLW) and Defiance R2000 Weekly Distribution ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLW achieves a -23.54% return, which is significantly lower than IWMY's 13.63% return.

TSLW

• 1D: -3.56%
• 1M: -9.65%
• 6M: -20.90%
• YTD: -23.54%
• 1Y: 7.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.04%

IWMY

• 1D: -0.47%
• 1M: -1.14%
• 6M: 7.05%
• YTD: 13.63%
• 1Y: 17.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.78%

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

TSLW vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025
TSLW Roundhill TSLA WeeklyPay™ ETF	-23.54%	35.28%
IWMY Defiance R2000 Weekly Distribution ETF	13.63%	10.93%

Correlation

The correlation between TSLW and IWMY is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jun 2, 2025	0.49

The correlation between TSLW and IWMY has been stable across timeframes, ranging from 0.49 to 0.51 - a consistent structural relationship.

Return for Risk

TSLW vs. IWMY — Risk / Return Rank

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

TSLW

TSLW Risk / Return Rank: 14
TSLW Sharpe Ratio Rank: 13
TSLW Sortino Ratio Rank: 16
TSLW Omega Ratio Rank: 15
TSLW Calmar Ratio Rank: 13
TSLW Martin Ratio Rank: 13

IWMY

IWMY Risk / Return Rank: 39
IWMY Sharpe Ratio Rank: 40
IWMY Sortino Ratio Rank: 37
IWMY Omega Ratio Rank: 37
IWMY Calmar Ratio Rank: 39
IWMY Martin Ratio Rank: 41

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. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill TSLA WeeklyPay™ ETF (TSLW) and Defiance R2000 Weekly Distribution ETF (IWMY). 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.

	TSLW	IWMY	Difference
Sharpe ratio: Return per unit of total volatility	0.15	1.09	-0.94
Sortino ratio: Return per unit of downside risk	0.59	1.55	-0.96
Omega ratio: Gain probability vs. loss probability	1.07	1.19	-0.13
Calmar ratio: Return relative to maximum drawdown	0.22	1.52	-1.30
Martin ratio: Return relative to average drawdown	0.45	4.95	-4.50

TSLW vs. IWMY - Sharpe Ratio Comparison

The current TSLW Sharpe Ratio is 0.15, which is lower than the IWMY Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of TSLW and IWMY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TSLW vs. IWMY - Drawdown Comparison

The maximum TSLW drawdown since its inception was -35.80%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for TSLW and IWMY.

Drawdown Indicators

	TSLW	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-35.80%	-18.72%	-17.08%
Max Drawdown (1Y) Largest decline over 1 year	-35.80%	-11.57%	-24.23%
Current Drawdown Current decline from peak	-31.09%	-2.40%	-28.69%
Average Drawdown Average peak-to-trough decline	-14.09%	-2.89%	-11.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.35%	3.55%	+13.80%

Volatility

TSLW vs. IWMY - Volatility Comparison

Roundhill TSLA WeeklyPay™ ETF (TSLW) has a higher volatility of 20.20% compared to Defiance R2000 Weekly Distribution ETF (IWMY) at 3.33%. This indicates that TSLW's price experiences larger fluctuations and is considered to be riskier than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLW	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.20%	3.33%	+16.87%
Volatility (6M) Calculated over the trailing 6-month period	37.55%	13.48%	+24.07%
Volatility (1Y) Calculated over the trailing 1-year period	53.50%	16.19%	+37.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.94%	15.80%	+41.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.94%	15.80%	+41.14%

TSLW vs. IWMY - Expense Ratio Comparison

TSLW has a 0.99% expense ratio, which is lower than IWMY's 1.05% expense ratio.

Dividends

TSLW vs. IWMY - Dividend Comparison

TSLW's dividend yield for the trailing twelve months is around 101.07%, more than IWMY's 42.60% yield.

Position	TTM	2025	2024	2023
IWMY Defiance R2000 Weekly Distribution ETF	42.60%	63.33%	107.92%	11.34%
TSLW Roundhill TSLA WeeklyPay™ ETF	101.07%	49.31%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLW and IWMY in my portfolio?

TSLW and IWMY have a correlation of 0.51, 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 IWMY?

TSLW has higher volatility (20.20%) compared to IWMY (3.33%). In terms of maximum drawdown, TSLW dropped -35.80% vs IWMY's -18.72%.

Which ETF is better, TSLW or IWMY?

On 1-year performance, IWMY leads with 17.50% vs 7.72% for TSLW. On fees, TSLW is cheaper at 0.99% per year. On volatility, IWMY has been the lower-risk option at 3.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLW or IWMY?

Over the 1-year period, IWMY has performed better with a 17.50% return vs 7.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLW or IWMY?

TSLW is cheaper with a 0.99% expense ratio, compared with 1.05% for IWMY.

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

TSLW has the higher dividend yield at 101.07%, compared with 42.60% for IWMY.

What is the main difference between TSLW and IWMY?

TSLW is categorized as Derivative Income, while IWMY is Options Trading. They also come from different issuers: Roundhill and Defiance. Their fees differ too: 0.99% for TSLW and 1.05% for IWMY.

Which has better risk-adjusted returns?

IWMY currently has the higher Sharpe Ratio (1.09 vs 0.15), 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.