WDTE vs. IVVW

Last updated Jun 4, 2026

WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. WDTE is actively managed, while IVVW is passively managed. Over the past year, WDTE returned 24.07% vs 20.07% for IVVW. Their correlation of 0.82 suggests significant overlap in exposure. WDTE charges 1.01%/yr vs 0.25%/yr for IVVW.

Performance

WDTE vs. IVVW - 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 iShares S&P 500 BuyWrite ETF (IVVW). 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 IVVW's 4.84% return.

WDTE

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

IVVW

• 1D: -0.02%
• 1M: 1.90%
• YTD: 4.84%
• 6M: 6.58%
• 1Y: 20.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WDTE vs. IVVW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	10.59%	13.60%	7.00%
IVVW iShares S&P 500 BuyWrite ETF	4.84%	11.71%	12.90%

Correlation

The correlation between WDTE and IVVW is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Mar 18, 2024	0.82

The correlation between WDTE and IVVW has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.

WDTE vs. IVVW - Sectors Allocation Comparison

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

Return for Risk

WDTE vs. IVVW — 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

IVVW

IVVW Risk / Return Rank: 82
IVVW Sharpe Ratio Rank: 82
IVVW Sortino Ratio Rank: 83
IVVW Omega Ratio Rank: 91
IVVW Calmar Ratio Rank: 69
IVVW Martin Ratio Rank: 87

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. IVVW - 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 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.

	WDTE	IVVW	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.73	-0.37
Sortino ratio: Return per unit of downside risk	3.06	3.77	-0.71
Omega ratio: Gain probability vs. loss probability	1.46	1.61	-0.15
Calmar ratio: Return relative to maximum drawdown	3.16	3.47	-0.31
Martin ratio: Return relative to average drawdown	15.52	19.13	-3.60
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. IVVW - Sharpe Ratio Comparison

The current WDTE Sharpe Ratio is 2.35, which is comparable to the IVVW Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of WDTE and IVVW, 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	IVVW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.73	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	1.07	+0.26

Drawdowns

WDTE vs. IVVW - Drawdown Comparison

The maximum WDTE drawdown since its inception was -15.85%, smaller than the maximum IVVW drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for WDTE and IVVW.

Drawdown Indicators

	WDTE	IVVW	Difference
Max Drawdown Largest peak-to-trough decline	-15.85%	-16.79%	+0.94%
Max Drawdown (1Y) Largest decline over 1 year	-7.65%	-5.81%	-1.84%
Current Drawdown Current decline from peak	-0.53%	-0.09%	-0.44%
Average Drawdown Average peak-to-trough decline	-1.82%	-1.75%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	1.05%	+0.50%

Volatility

WDTE vs. IVVW - Volatility Comparison

Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) has a higher volatility of 2.37% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 1.13%. This indicates that WDTE's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDTE	IVVW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	1.13%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	8.50%	6.07%	+2.43%
Volatility (1Y) Calculated over the trailing 1-year period	10.28%	7.40%	+2.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.34%	12.66%	-1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.34%	12.66%	-1.32%

WDTE vs. IVVW - Expense Ratio Comparison

WDTE has a 1.01% expense ratio, which is higher than IVVW's 0.25% expense ratio.

Dividends

WDTE vs. IVVW - Dividend Comparison

WDTE's dividend yield for the trailing twelve months is around 31.86%, more than IVVW's 19.70% yield.

Position	TTM	2025	2024	2023
IVVW iShares S&P 500 BuyWrite ETF	19.70%	18.55%	13.72%	0.00%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	31.86%	35.78%	51.80%	16.41%

Frequently Asked Questions

Can I hold both WDTE and IVVW in my portfolio?

WDTE and IVVW have a correlation of 0.80, 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 IVVW?

WDTE has higher volatility (2.37%) compared to IVVW (1.13%). In terms of maximum drawdown, WDTE dropped -15.85% vs IVVW's -16.79%.

Which ETF is better, WDTE or IVVW?

On 1-year performance, WDTE leads with 24.07% vs 20.07% for IVVW. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW 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, WDTE or IVVW?

Over the 1-year period, WDTE has performed better with a 24.07% return vs 20.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WDTE or IVVW?

IVVW is cheaper with a 0.25% expense ratio, compared with 1.01% for WDTE.

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

WDTE has the higher dividend yield at 31.86%, compared with 19.70% for IVVW.

What is the main difference between WDTE and IVVW?

They also come from different issuers: Defiance and iShares. Their fees differ too: 1.01% for WDTE and 0.25% for IVVW.

Which has better risk-adjusted returns?

IVVW currently has the higher Sharpe Ratio (2.73 vs 2.35), 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.