TSLW vs. WDTE

Last updated Jun 9, 2026

TSLW (Roundhill TSLA WeeklyPay™ ETF) and WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, TSLW returned 38.71% vs 20.90% for WDTE. At a 0.49 correlation, their price movements are largely independent. TSLW charges 0.99%/yr vs 1.01%/yr for WDTE.

Performance

TSLW vs. WDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill TSLA WeeklyPay™ ETF (TSLW) and Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLW achieves a -13.00% return, which is significantly lower than WDTE's 8.25% return.

TSLW

• 1D: 5.46%
• 1M: -5.73%
• YTD: -13.00%
• 6M: -10.75%
• 1Y: 38.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WDTE

• 1D: 0.17%
• 1M: -0.23%
• YTD: 8.25%
• 6M: 8.53%
• 1Y: 20.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLW vs. WDTE - Yearly Performance Comparison

	2026 (YTD)	2025
TSLW Roundhill TSLA WeeklyPay™ ETF	-13.00%	33.77%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	8.25%	12.81%

Correlation

The correlation between TSLW and WDTE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jun 3, 2025	0.49

Return for Risk

TSLW vs. WDTE — Risk / Return Rank

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

TSLW

TSLW Risk / Return Rank: 24
TSLW Sharpe Ratio Rank: 23
TSLW Sortino Ratio Rank: 26
TSLW Omega Ratio Rank: 24
TSLW Calmar Ratio Rank: 25
TSLW Martin Ratio Rank: 22

WDTE

WDTE Risk / Return Rank: 68
WDTE Sharpe Ratio Rank: 68
WDTE Sortino Ratio Rank: 62
WDTE Omega Ratio Rank: 74
WDTE Calmar Ratio Rank: 61
WDTE Martin Ratio Rank: 77

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. WDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill TSLA WeeklyPay™ ETF (TSLW) and Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE). 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	WDTE	Difference
Sharpe ratio: Return per unit of total volatility	0.73	2.00	-1.27
Sortino ratio: Return per unit of downside risk	1.31	2.59	-1.28
Omega ratio: Gain probability vs. loss probability	1.15	1.39	-0.24
Calmar ratio: Return relative to maximum drawdown	1.09	2.74	-1.66
Martin ratio: Return relative to average drawdown	2.46	13.32	-10.86
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. WDTE - Sharpe Ratio Comparison

The current TSLW Sharpe Ratio is 0.73, which is lower than the WDTE Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of TSLW and WDTE, 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	WDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	2.00	-1.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	1.24	-0.95

Drawdowns

TSLW vs. WDTE - Drawdown Comparison

The maximum TSLW drawdown since its inception was -35.80%, which is greater than WDTE's maximum drawdown of -15.85%. Use the drawdown chart below to compare losses from any high point for TSLW and WDTE.

Drawdown Indicators

	TSLW	WDTE	Difference
Max Drawdown Largest peak-to-trough decline	-35.80%	-15.85%	-19.95%
Max Drawdown (1Y) Largest decline over 1 year	-35.80%	-7.65%	-28.15%
Current Drawdown Current decline from peak	-21.60%	-2.63%	-18.97%
Average Drawdown Average peak-to-trough decline	-12.99%	-1.82%	-11.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.80%	1.57%	+14.23%

Volatility

TSLW vs. WDTE - Volatility Comparison

Roundhill TSLA WeeklyPay™ ETF (TSLW) has a higher volatility of 17.07% compared to Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) at 3.15%. This indicates that TSLW's price experiences larger fluctuations and is considered to be riskier than WDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLW	WDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.07%	3.15%	+13.92%
Volatility (6M) Calculated over the trailing 6-month period	33.82%	8.80%	+25.02%
Volatility (1Y) Calculated over the trailing 1-year period	53.30%	10.51%	+42.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.02%	11.40%	+44.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.02%	11.40%	+44.62%

TSLW vs. WDTE - Expense Ratio Comparison

TSLW has a 0.99% expense ratio, which is lower than WDTE's 1.01% expense ratio.

Dividends

TSLW vs. WDTE - Dividend Comparison

TSLW's dividend yield for the trailing twelve months is around 90.41%, more than WDTE's 32.66% yield.

Position	TTM	2025	2024	2023
TSLW Roundhill TSLA WeeklyPay™ ETF	90.41%	49.31%	0.00%	0.00%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	32.66%	35.78%	51.80%	16.41%

Frequently Asked Questions

Can I hold both TSLW and WDTE in my portfolio?

TSLW and WDTE have a correlation of 0.49, 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 WDTE?

TSLW has higher volatility (17.07%) compared to WDTE (3.15%). In terms of maximum drawdown, TSLW dropped -35.80% vs WDTE's -15.85%.

Which ETF is better, TSLW or WDTE?

On 1-year performance, TSLW leads with 38.71% vs 20.90% for WDTE. On fees, TSLW is cheaper at 0.99% per year. On volatility, WDTE has been the lower-risk option at 3.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLW or WDTE?

Over the 1-year period, TSLW has performed better with a 38.71% return vs 20.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLW or WDTE?

TSLW is cheaper with a 0.99% expense ratio, compared with 1.01% for WDTE.

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

TSLW has the higher dividend yield at 90.41%, compared with 32.66% for WDTE.

What is the main difference between TSLW and WDTE?

They also come from different issuers: Roundhill and Defiance. Their fees differ too: 0.99% for TSLW and 1.01% for WDTE.

Which has better risk-adjusted returns?

WDTE currently has the higher Sharpe Ratio (2.00 vs 0.73), 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.