USHY vs. XDTE

Last updated Jun 9, 2026

USHY (iShares Broad USD High Yield Corporate Bond ETF) and XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) are both exchange-traded funds - USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index, while XDTE is a Derivative Income fund actively managed by Roundhill. USHY is passively managed, while XDTE is actively managed. Over the past year, USHY returned 6.84% vs 22.20% for XDTE. A 0.66 correlation means they provide meaningful diversification when combined. USHY charges 0.15%/yr vs 0.97%/yr for XDTE.

Performance

USHY vs. XDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Broad USD High Yield Corporate Bond ETF (USHY) and Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USHY achieves a 1.29% return, which is significantly lower than XDTE's 6.69% return.

USHY

• 1D: 0.08%
• 1M: -0.14%
• YTD: 1.29%
• 6M: 1.85%
• 1Y: 6.84%
• 3Y*: 8.79%
• 5Y*: 4.16%
• 10Y*: —

XDTE

• 1D: 0.31%
• 1M: -0.27%
• YTD: 6.69%
• 6M: 6.52%
• 1Y: 22.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USHY vs. XDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
USHY iShares Broad USD High Yield Corporate Bond ETF	1.29%	8.81%	7.22%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	6.69%	12.60%	17.12%

Correlation

The correlation between USHY and XDTE is 0.73, 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	0.73
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.66

The correlation between USHY and XDTE has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.

USHY vs. XDTE - Sectors Allocation Comparison

Sectors	USHY	XDTE
Energy	99.2%	3.5%
Real Estate	0.8%	1.9%
Basic Materials	-	1.8%
Communication Services	-	11.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Financial Services	-	11.8%
Healthcare	-	8.5%
Industrials	-	8.3%
Technology	-	35.6%
Utilities	-	2.4%

Return for Risk

USHY vs. XDTE — Risk / Return Rank

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

USHY

USHY Risk / Return Rank: 67
USHY Sharpe Ratio Rank: 62
USHY Sortino Ratio Rank: 69
USHY Omega Ratio Rank: 67
USHY Calmar Ratio Rank: 63
USHY Martin Ratio Rank: 74

XDTE

XDTE Risk / Return Rank: 68
XDTE Sharpe Ratio Rank: 67
XDTE Sortino Ratio Rank: 63
XDTE Omega Ratio Rank: 68
XDTE Calmar Ratio Rank: 64
XDTE Martin Ratio Rank: 76

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.

USHY vs. XDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD High Yield Corporate Bond ETF (USHY) and Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE). 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.

	USHY	XDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.99	-0.11
Sortino ratio: Return per unit of downside risk	2.81	2.64	+0.17
Omega ratio: Gain probability vs. loss probability	1.36	1.37	0.00
Calmar ratio: Return relative to maximum drawdown	2.83	2.90	-0.07
Martin ratio: Return relative to average drawdown	12.68	13.13	-0.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USHY vs. XDTE - Sharpe Ratio Comparison

The current USHY Sharpe Ratio is 1.88, which is comparable to the XDTE Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of USHY and XDTE, 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

	USHY	XDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.99	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	1.16	-0.59

Drawdowns

USHY vs. XDTE - Drawdown Comparison

The maximum USHY drawdown since its inception was -22.44%, which is greater than XDTE's maximum drawdown of -19.09%. Use the drawdown chart below to compare losses from any high point for USHY and XDTE.

Drawdown Indicators

	USHY	XDTE	Difference
Max Drawdown Largest peak-to-trough decline	-22.44%	-19.09%	-3.35%
Max Drawdown (1Y) Largest decline over 1 year	-2.43%	-7.68%	+5.25%
Max Drawdown (3Y) Largest decline over 3 years	-4.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.56%	—	—
Current Drawdown Current decline from peak	-0.41%	-2.61%	+2.20%
Average Drawdown Average peak-to-trough decline	-2.66%	-2.31%	-0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	1.69%	-1.15%

Volatility

USHY vs. XDTE - Volatility Comparison

The current volatility for iShares Broad USD High Yield Corporate Bond ETF (USHY) is 1.13%, while Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) has a volatility of 3.50%. This indicates that USHY experiences smaller price fluctuations and is considered to be less risky than XDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USHY	XDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	3.50%	-2.37%
Volatility (6M) Calculated over the trailing 6-month period	2.95%	8.68%	-5.73%
Volatility (1Y) Calculated over the trailing 1-year period	3.67%	11.25%	-7.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.34%	13.92%	-6.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.25%	13.92%	-5.67%

USHY vs. XDTE - Expense Ratio Comparison

USHY has a 0.15% expense ratio, which is lower than XDTE's 0.97% expense ratio.

Dividends

USHY vs. XDTE - Dividend Comparison

USHY's dividend yield for the trailing twelve months is around 6.93%, less than XDTE's 33.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
USHY iShares Broad USD High Yield Corporate Bond ETF	6.93%	6.79%	6.89%	6.63%	6.08%	5.07%	5.30%	5.92%	6.30%	0.73%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.68%	39.16%	20.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USHY and XDTE in my portfolio?

USHY and XDTE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USHY or XDTE?

XDTE has higher volatility (3.50%) compared to USHY (1.13%). In terms of maximum drawdown, USHY dropped -22.44% vs XDTE's -19.09%.

Which ETF is better, USHY or XDTE?

On 1-year performance, XDTE leads with 22.20% vs 6.84% for USHY. On fees, USHY is cheaper at 0.15% per year. On volatility, USHY has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USHY or XDTE?

Over the 1-year period, XDTE has performed better with a 22.20% return vs 6.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USHY or XDTE?

USHY is cheaper with a 0.15% expense ratio, compared with 0.97% for XDTE.

Which ETF pays a higher dividend yield, USHY or XDTE?

XDTE has the higher dividend yield at 33.68%, compared with 6.93% for USHY.

What is the main difference between USHY and XDTE?

USHY is categorized as High Yield Bonds, while XDTE is Derivative Income. They also come from different issuers: iShares and Roundhill. Their fees differ too: 0.15% for USHY and 0.97% for XDTE.

Which has better risk-adjusted returns?

XDTE currently has the higher Sharpe Ratio (1.99 vs 1.88), 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.