WDTE vs. MAGY

Last updated Aug 2, 2026

WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) and MAGY (Roundhill Magnificent Seven Covered Call ETF) are both Derivative Income funds. Both are actively managed. Over the past year, WDTE returned 17.26% vs 1.42% for MAGY. Their 0.72 correlation means they have sometimes moved together and sometimes differently. WDTE charges 1.01%/yr vs 0.99%/yr for MAGY.

Performance

WDTE vs. MAGY - 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 Roundhill Magnificent Seven Covered Call ETF (MAGY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WDTE achieves a 10.00% return, which is significantly higher than MAGY's -6.83% return.

WDTE

• 1D: 0.81%
• 1M: 0.37%
• 6M: 8.62%
• YTD: 10.00%
• 1Y: 17.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.88%

MAGY

• 1D: 2.29%
• 1M: 0.52%
• 6M: -7.69%
• YTD: -6.83%
• 1Y: 1.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MAGY Roundhill Magnificent Seven Covered Call ETF	$1.76M	$2.00M	$2.81M
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	$434.93K	$533.63K	$696.62K

WDTE vs. MAGY - Yearly Performance Comparison

	2026 (YTD)	2025
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	10.00%	25.65%
MAGY Roundhill Magnificent Seven Covered Call ETF	-6.83%	26.42%

Correlation

The correlation between WDTE and MAGY is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	0.72

The correlation between WDTE and MAGY has been stable across timeframes, ranging from 0.72 to 0.75 - a consistent structural relationship.

WDTE vs. MAGY - Sectors Allocation Comparison

Sectors	WDTE	MAGY
Technology	39.0%	-
Financial Services	11.1%	100.0%
Communication Services	10.6%	-
Consumer Cyclical	9.9%	-
Healthcare	8.3%	-
Industrials	7.8%	-
Consumer Defensive	4.5%	-
Energy	3.1%	-
Utilities	2.1%	-
Real Estate	1.8%	-
Basic Materials	1.7%	-

Return for Risk

WDTE vs. MAGY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WDTE

WDTE Risk / Return Rank: 61
WDTE Sharpe Ratio Rank: 59
WDTE Sortino Ratio Rank: 54
WDTE Omega Ratio Rank: 62
WDTE Calmar Ratio Rank: 58
WDTE Martin Ratio Rank: 73

MAGY

MAGY Risk / Return Rank: 10
MAGY Sharpe Ratio Rank: 10
MAGY Sortino Ratio Rank: 10
MAGY Omega Ratio Rank: 10
MAGY Calmar Ratio Rank: 10
MAGY Martin Ratio Rank: 10

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WDTE vs. MAGY - 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 Roundhill Magnificent Seven Covered Call ETF (MAGY). 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.

	WDTE	MAGY	Difference
Sharpe ratio: Return per unit of total volatility	1.40	-0.05	+1.45
Sortino ratio: Return per unit of downside risk	1.87	0.04	+1.83
Omega ratio: Gain probability vs. loss probability	1.27	1.01	+0.26
Calmar ratio: Return relative to maximum drawdown	2.05	-0.06	+2.11
Martin ratio: Return relative to average drawdown	8.97	-0.16	+9.13

WDTE vs. MAGY - Sharpe Ratio Comparison

The current WDTE Sharpe Ratio is 1.40, which is higher than the MAGY Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of WDTE and MAGY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WDTE vs. MAGY - Drawdown Comparison

The maximum WDTE drawdown since its inception was -15.85%, which is greater than MAGY's maximum drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for WDTE and MAGY.

Drawdown Indicators

	WDTE	MAGY	Difference
Max Drawdown Largest peak-to-trough decline	-15.85%	-14.29%	-1.56%
Max Drawdown (1Y) Largest decline over 1 year	-7.65%	-14.29%	+6.64%
Current Drawdown Current decline from peak	-1.06%	-8.86%	+7.80%
Average Drawdown Average peak-to-trough decline	-1.83%	-3.41%	+1.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	5.53%	-3.78%

Volatility

WDTE vs. MAGY - Volatility Comparison

The current volatility for Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) is 2.82%, while Roundhill Magnificent Seven Covered Call ETF (MAGY) has a volatility of 6.83%. This indicates that WDTE experiences smaller price fluctuations and is considered to be less risky than MAGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDTE	MAGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	6.83%	-4.01%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	14.10%	-4.80%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	16.87%	-5.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.42%	16.18%	-4.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.42%	16.18%	-4.76%

WDTE vs. MAGY - Expense Ratio Comparison

WDTE has a 1.01% expense ratio, which is higher than MAGY's 0.99% expense ratio.

Dividends

WDTE vs. MAGY - Dividend Comparison

WDTE's dividend yield for the trailing twelve months is around 32.93%, less than MAGY's 39.90% yield.

Position	TTM	2025	2024	2023
MAGY Roundhill Magnificent Seven Covered Call ETF	38.99%	23.38%	0.00%	0.00%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	32.93%	35.78%	51.80%	16.41%

Frequently Asked Questions

Can I hold both WDTE and MAGY in my portfolio?

WDTE and MAGY have a correlation of 0.75, 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 MAGY?

MAGY has higher volatility (6.83%) compared to WDTE (2.82%). In terms of maximum drawdown, WDTE dropped -15.85% vs MAGY's -14.29%.

Which ETF is better, WDTE or MAGY?

On 1-year performance, WDTE leads with 17.26% vs 1.42% for MAGY. On fees, MAGY is cheaper at 0.99% per year. On volatility, WDTE has been the lower-risk option at 2.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WDTE or MAGY?

Over the 1-year period, WDTE has performed better with a 17.26% return vs 1.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WDTE or MAGY?

MAGY is cheaper with a 0.99% expense ratio, compared with 1.01% for WDTE.

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

MAGY has the higher dividend yield at 38.99%, compared with 32.93% for WDTE.

What is the main difference between WDTE and MAGY?

They also come from different issuers: Defiance and Roundhill. Their fees differ too: 1.01% for WDTE and 0.99% for MAGY.

Which has better risk-adjusted returns?

WDTE currently has the higher Sharpe Ratio (1.40 vs -0.05), 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.