TSLW vs. SPIN

Last updated Jun 4, 2026

TSLW (Roundhill TSLA WeeklyPay™ ETF) and SPIN (State Street US Equity Premium Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, TSLW returned 20.22% vs 19.71% for SPIN. At a 0.42 correlation, their price movements are largely independent. TSLW charges 0.99%/yr vs 0.25%/yr for SPIN.

Performance

TSLW vs. SPIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill TSLA WeeklyPay™ ETF (TSLW) and State Street US Equity Premium Income ETF (SPIN). 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 SPIN's 2.91% return.

TSLW

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

SPIN

• 1D: -0.15%
• 1M: 2.52%
• YTD: 2.91%
• 6M: 3.47%
• 1Y: 19.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLW vs. SPIN - Yearly Performance Comparison

	2026 (YTD)	2025
TSLW Roundhill TSLA WeeklyPay™ ETF	-9.26%	33.77%
SPIN State Street US Equity Premium Income ETF	2.91%	16.67%

Correlation

The correlation between TSLW and SPIN is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 3, 2025	0.42

Return for Risk

TSLW vs. SPIN — 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

SPIN

SPIN Risk / Return Rank: 52
SPIN Sharpe Ratio Rank: 55
SPIN Sortino Ratio Rank: 54
SPIN Omega Ratio Rank: 58
SPIN Calmar Ratio Rank: 40
SPIN Martin Ratio Rank: 50

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. SPIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill TSLA WeeklyPay™ ETF (TSLW) and State Street US Equity Premium Income ETF (SPIN). 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	SPIN	Difference
Sharpe ratio: Return per unit of total volatility	0.37	1.89	-1.52
Sortino ratio: Return per unit of downside risk	0.87	2.60	-1.73
Omega ratio: Gain probability vs. loss probability	1.11	1.36	-0.25
Calmar ratio: Return relative to maximum drawdown	0.57	2.02	-1.45
Martin ratio: Return relative to average drawdown	1.29	8.42	-7.12
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. SPIN - Sharpe Ratio Comparison

The current TSLW Sharpe Ratio is 0.37, which is lower than the SPIN Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of TSLW and SPIN, 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	SPIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	1.89	-1.52
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.95	-0.56

Drawdowns

TSLW vs. SPIN - Drawdown Comparison

The maximum TSLW drawdown since its inception was -35.80%, which is greater than SPIN's maximum drawdown of -16.85%. Use the drawdown chart below to compare losses from any high point for TSLW and SPIN.

Drawdown Indicators

	TSLW	SPIN	Difference
Max Drawdown Largest peak-to-trough decline	-35.80%	-16.85%	-18.95%
Max Drawdown (1Y) Largest decline over 1 year	-35.80%	-9.81%	-25.99%
Current Drawdown Current decline from peak	-18.23%	-0.40%	-17.83%
Average Drawdown Average peak-to-trough decline	-12.88%	-2.29%	-10.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.77%	2.35%	+13.42%

Volatility

TSLW vs. SPIN - Volatility Comparison

Roundhill TSLA WeeklyPay™ ETF (TSLW) has a higher volatility of 14.56% compared to State Street US Equity Premium Income ETF (SPIN) at 1.82%. This indicates that TSLW's price experiences larger fluctuations and is considered to be riskier than SPIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLW	SPIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.56%	1.82%	+12.74%
Volatility (6M) Calculated over the trailing 6-month period	32.83%	8.03%	+24.80%
Volatility (1Y) Calculated over the trailing 1-year period	55.52%	10.49%	+45.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.52%	14.33%	+41.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.52%	14.33%	+41.19%

TSLW vs. SPIN - Expense Ratio Comparison

TSLW has a 0.99% expense ratio, which is higher than SPIN's 0.25% expense ratio.

Dividends

TSLW vs. SPIN - Dividend Comparison

TSLW's dividend yield for the trailing twelve months is around 84.61%, more than SPIN's 5.64% yield.

Position	TTM	2025	2024
SPIN State Street US Equity Premium Income ETF	5.64%	8.20%	2.36%
TSLW Roundhill TSLA WeeklyPay™ ETF	84.61%	49.31%	0.00%

Frequently Asked Questions

Can I hold both TSLW and SPIN in my portfolio?

TSLW and SPIN have a correlation of 0.42, 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 SPIN?

TSLW has higher volatility (14.56%) compared to SPIN (1.82%). In terms of maximum drawdown, TSLW dropped -35.80% vs SPIN's -16.85%.

Which ETF is better, TSLW or SPIN?

On 1-year performance, TSLW leads with 20.22% vs 19.71% for SPIN. On fees, SPIN is cheaper at 0.25% per year. On volatility, SPIN has been the lower-risk option at 1.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLW or SPIN?

Over the 1-year period, TSLW has performed better with a 20.22% return vs 19.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLW or SPIN?

SPIN is cheaper with a 0.25% expense ratio, compared with 0.99% for TSLW.

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

TSLW has the higher dividend yield at 84.61%, compared with 5.64% for SPIN.

What is the main difference between TSLW and SPIN?

They also come from different issuers: Roundhill and State Street. Their fees differ too: 0.99% for TSLW and 0.25% for SPIN.

Which has better risk-adjusted returns?

SPIN currently has the higher Sharpe Ratio (1.89 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.