ULTI vs. IVVW
ULTI (REX IncomeMax Option Strategy ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. ULTI is actively managed, while IVVW is passively managed. A 0.50 correlation means they provide meaningful diversification when combined. ULTI charges 1.25%/yr vs 0.25%/yr for IVVW.
Performance
ULTI vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, ULTI achieves a -3.92% return, which is significantly lower than IVVW's 7.21% return.
ULTI
- 1D
- -2.81%
- 1M
- -24.77%
- 6M
- -22.06%
- YTD
- -3.92%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- 0.29%
- 1M
- 1.66%
- 6M
- 6.44%
- YTD
- 7.21%
- 1Y
- 18.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ULTI vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ULTI REX IncomeMax Option Strategy ETF | -3.92% | -38.67% |
IVVW iShares S&P 500 BuyWrite ETF | 7.21% | 2.91% |
Correlation
The correlation between ULTI and IVVW is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 31, 2025 | 0.50 |
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Return for Risk
ULTI vs. IVVW — Risk / Return Rank
ULTI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IVVW
ULTI vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for REX IncomeMax Option Strategy ETF (ULTI) and iShares S&P 500 BuyWrite ETF (IVVW). 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.
| ULTI | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.49 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.22 | — |
| Martin ratioReturn relative to average drawdown | — | 17.08 | — |
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Drawdowns
ULTI vs. IVVW - Drawdown Comparison
The maximum ULTI drawdown since its inception was -42.09%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for ULTI and IVVW.
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Drawdown Indicators
| ULTI | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.09% | -16.79% | -25.30% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.81% | — |
Current DrawdownCurrent decline from peak | -41.08% | 0.00% | -41.08% |
Average DrawdownAverage peak-to-trough decline | -28.36% | -1.69% | -26.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.09% | — |
Volatility
ULTI vs. IVVW - Volatility Comparison
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Volatility by Period
| ULTI | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.61% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.08% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 61.35% | 8.18% | +53.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.35% | 12.58% | +48.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.35% | 12.58% | +48.77% |
ULTI vs. IVVW - Expense Ratio Comparison
ULTI has a 1.25% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
ULTI vs. IVVW - Dividend Comparison
ULTI's dividend yield for the trailing twelve months is around 79.75%, more than IVVW's 18.99% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IVVW iShares S&P 500 BuyWrite ETF | 18.99% | 18.55% | 13.72% |
ULTI REX IncomeMax Option Strategy ETF | 79.75% | 14.96% | 0.00% |
Frequently Asked Questions
ULTI and IVVW have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IVVW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IVVW is cheaper with a 0.25% expense ratio, compared with 1.25% for ULTI.
ULTI has the higher dividend yield at 79.75%, compared with 18.99% for IVVW.
They also come from different issuers: REX Shares and iShares. Their fees differ too: 1.25% for ULTI and 0.25% for IVVW.
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