WDTE vs. BUYW

Last updated Jun 4, 2026

WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. Both are actively managed. Over the past year, WDTE returned 24.07% vs 9.76% for BUYW. A 0.60 correlation means they provide meaningful diversification when combined. WDTE charges 1.01%/yr vs 1.29%/yr for BUYW.

Performance

WDTE vs. BUYW - Performance Comparison

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

Returns By Period

In the year-to-date period, WDTE achieves a 10.59% return, which is significantly higher than BUYW's 3.39% return.

WDTE

• 1D: -0.53%
• 1M: 4.43%
• YTD: 10.59%
• 6M: 11.04%
• 1Y: 24.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUYW

• 1D: 0.35%
• 1M: 0.99%
• YTD: 3.39%
• 6M: 4.27%
• 1Y: 9.76%
• 3Y*: 8.73%
• 5Y*: —
• 10Y*: —

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

WDTE vs. BUYW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	10.59%	13.60%	9.85%	5.84%
BUYW Main Buywrite ETF	3.39%	9.08%	9.82%	1.95%

Correlation

The correlation between WDTE and BUYW is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Sep 20, 2023	0.60

The correlation between WDTE and BUYW shifts across timeframes, from 0.48 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.

WDTE vs. BUYW - Sectors Allocation Comparison

Sectors	WDTE	BUYW
Technology	35.6%	24.0%
Financial Services	11.8%	15.3%
Communication Services	11.2%	16.9%
Consumer Cyclical	10.1%	6.4%
Healthcare	8.5%	13.0%
Industrials	8.3%	4.4%
Consumer Defensive	4.9%	3.2%
Energy	3.5%	13.6%
Utilities	2.4%	1.3%
Real Estate	1.9%	1.0%
Basic Materials	1.8%	1.0%

Return for Risk

WDTE vs. BUYW — Risk / Return Rank

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

WDTE

WDTE Risk / Return Rank: 71
WDTE Sharpe Ratio Rank: 71
WDTE Sortino Ratio Rank: 65
WDTE Omega Ratio Rank: 76
WDTE Calmar Ratio Rank: 63
WDTE Martin Ratio Rank: 79

BUYW

BUYW Risk / Return Rank: 71
BUYW Sharpe Ratio Rank: 59
BUYW Sortino Ratio Rank: 66
BUYW Omega Ratio Rank: 66
BUYW Calmar Ratio Rank: 75
BUYW Martin Ratio Rank: 89

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.

WDTE vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) and Main Buywrite ETF (BUYW). 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.

	WDTE	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.03	+0.33
Sortino ratio: Return per unit of downside risk	3.06	3.08	-0.02
Omega ratio: Gain probability vs. loss probability	1.46	1.40	+0.06
Calmar ratio: Return relative to maximum drawdown	3.16	3.79	-0.63
Martin ratio: Return relative to average drawdown	15.52	20.24	-4.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WDTE vs. BUYW - Sharpe Ratio Comparison

The current WDTE Sharpe Ratio is 2.35, which is comparable to the BUYW Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of WDTE and BUYW, 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

	WDTE	BUYW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.03	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	1.17	+0.17

Drawdowns

WDTE vs. BUYW - Drawdown Comparison

The maximum WDTE drawdown since its inception was -15.85%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for WDTE and BUYW.

Drawdown Indicators

	WDTE	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-15.85%	-9.36%	-6.49%
Max Drawdown (1Y) Largest decline over 1 year	-7.65%	-2.59%	-5.06%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Current Drawdown Current decline from peak	-0.53%	-0.21%	-0.32%
Average Drawdown Average peak-to-trough decline	-1.82%	-0.61%	-1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	0.48%	+1.07%

Volatility

WDTE vs. BUYW - Volatility Comparison

Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) has a higher volatility of 2.37% compared to Main Buywrite ETF (BUYW) at 1.02%. This indicates that WDTE's price experiences larger fluctuations and is considered to be riskier than BUYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDTE	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	1.02%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	8.50%	4.03%	+4.47%
Volatility (1Y) Calculated over the trailing 1-year period	10.28%	4.85%	+5.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.34%	8.47%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.34%	8.47%	+2.87%

WDTE vs. BUYW - Expense Ratio Comparison

WDTE has a 1.01% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

WDTE vs. BUYW - Dividend Comparison

WDTE's dividend yield for the trailing twelve months is around 31.86%, more than BUYW's 5.91% yield.

Position	TTM	2025	2024	2023	2022
BUYW Main Buywrite ETF	5.91%	5.89%	5.93%	5.95%	0.50%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	31.86%	35.78%	51.80%	16.41%	0.00%

Frequently Asked Questions

Can I hold both WDTE and BUYW in my portfolio?

WDTE and BUYW have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WDTE or BUYW?

WDTE has higher volatility (2.37%) compared to BUYW (1.02%). In terms of maximum drawdown, WDTE dropped -15.85% vs BUYW's -9.36%.

Which ETF is better, WDTE or BUYW?

On 1-year performance, WDTE leads with 24.07% vs 9.76% for BUYW. On fees, WDTE is cheaper at 1.01% per year. On volatility, BUYW has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WDTE or BUYW?

Over the 1-year period, WDTE has performed better with a 24.07% return vs 9.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WDTE or BUYW?

WDTE is cheaper with a 1.01% expense ratio, compared with 1.29% for BUYW.

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

WDTE has the higher dividend yield at 31.86%, compared with 5.91% for BUYW.

What is the main difference between WDTE and BUYW?

They also come from different issuers: Defiance and Main Funds. Their fees differ too: 1.01% for WDTE and 1.29% for BUYW.

Which has better risk-adjusted returns?

WDTE currently has the higher Sharpe Ratio (2.35 vs 2.03), 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.