WDTE vs. KHPI

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) and Kensington Hedged Premium Income ETF (KHPI).

WDTE and KHPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WDTE is an actively managed fund by Defiance. It was launched on Sep 18, 2023. KHPI is an actively managed fund by Kensington Asset Management. It was launched on Sep 4, 2024.

Performance

WDTE vs. KHPI - 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 Kensington Hedged Premium Income ETF (KHPI). The values are adjusted to include any dividend payments, if applicable.

WDTE vs. KHPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	-3.64%	13.60%	2.70%
KHPI Kensington Hedged Premium Income ETF	-3.49%	11.14%	4.29%

Returns By Period

The year-to-date returns for both investments are quite close, with WDTE having a -3.64% return and KHPI slightly higher at -3.49%.

WDTE

• 1D: 2.50%
• 1M: -4.49%
• YTD: -3.64%
• 6M: -1.94%
• 1Y: 12.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KHPI

• 1D: 1.47%
• 1M: -4.68%
• YTD: -3.49%
• 6M: -0.79%
• 1Y: 10.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WDTE vs. KHPI - Expense Ratio Comparison

WDTE has a 1.01% expense ratio, which is higher than KHPI's 0.96% expense ratio.

WDTE

Defiance S&P 500 Enhanced Options & 0DTE Income ETF

KHPI

Kensington Hedged Premium Income ETF

Return for Risk

WDTE vs. KHPI — Risk / Return Rank

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

WDTE

WDTE Risk / Return Rank: 50
WDTE Sharpe Ratio Rank: 52
WDTE Sortino Ratio Rank: 42
WDTE Omega Ratio Rank: 53
WDTE Calmar Ratio Rank: 50
WDTE Martin Ratio Rank: 52

KHPI

KHPI Risk / Return Rank: 61
KHPI Sharpe Ratio Rank: 54
KHPI Sortino Ratio Rank: 55
KHPI Omega Ratio Rank: 60
KHPI Calmar Ratio Rank: 64
KHPI Martin Ratio Rank: 71

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. KHPI - 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 Kensington Hedged Premium Income ETF (KHPI). 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	KHPI	Difference
Sharpe ratio Return per unit of total volatility	0.90	0.97	-0.07
Sortino ratio Return per unit of downside risk	1.13	1.46	-0.33
Omega ratio Gain probability vs. loss probability	1.19	1.22	-0.03
Calmar ratio Return relative to maximum drawdown	1.21	1.64	-0.43
Martin ratio Return relative to average drawdown	4.88	7.34	-2.47
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. KHPI - Sharpe Ratio Comparison

The current WDTE Sharpe Ratio is 0.90, which is comparable to the KHPI Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of WDTE and KHPI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WDTE	KHPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	0.97	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.76	+0.13

Correlation

The correlation between WDTE and KHPI is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

WDTE vs. KHPI - Dividend Comparison

WDTE's dividend yield for the trailing twelve months is around 37.31%, more than KHPI's 9.44% yield.

	TTM	2025	2024	2023
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	37.31%	35.78%	51.80%	16.41%
KHPI Kensington Hedged Premium Income ETF	9.44%	8.90%	3.01%	0.00%

Drawdowns

WDTE vs. KHPI - Drawdown Comparison

The maximum WDTE drawdown since its inception was -15.85%, which is greater than KHPI's maximum drawdown of -10.58%. Use the drawdown chart below to compare losses from any high point for WDTE and KHPI.

Drawdown Indicators

	WDTE	KHPI	Difference
Max Drawdown Largest peak-to-trough decline	-15.85%	-10.58%	-5.27%
Max Drawdown (1Y) Largest decline over 1 year	-10.75%	-6.55%	-4.20%
Current Drawdown Current decline from peak	-5.34%	-5.18%	-0.16%
Average Drawdown Average peak-to-trough decline	-1.89%	-1.27%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	1.46%	+1.20%

Volatility

WDTE vs. KHPI - Volatility Comparison

Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) has a higher volatility of 4.71% compared to Kensington Hedged Premium Income ETF (KHPI) at 3.18%. This indicates that WDTE's price experiences larger fluctuations and is considered to be riskier than KHPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDTE	KHPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.71%	3.18%	+1.53%
Volatility (6M) Calculated over the trailing 6-month period	8.27%	5.25%	+3.02%
Volatility (1Y) Calculated over the trailing 1-year period	13.61%	10.96%	+2.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.30%	9.79%	+1.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.30%	9.79%	+1.51%