WDTE vs. TSLW

Last updated Jul 21, 2026

WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) and TSLW (Roundhill TSLA WeeklyPay™ ETF) are both Derivative Income funds. Both are actively managed. Over the past year, WDTE returned 16.38% vs 7.72% for TSLW. A 0.53 correlation means they provide meaningful diversification when combined. WDTE charges 1.01%/yr vs 0.99%/yr for TSLW.

Performance

WDTE vs. TSLW - 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 TSLA WeeklyPay™ ETF (TSLW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WDTE achieves a 9.15% return, which is significantly higher than TSLW's -23.54% return.

WDTE

• 1D: 0.23%
• 1M: -0.24%
• 6M: 7.58%
• YTD: 9.15%
• 1Y: 16.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.73%

TSLW

• 1D: -3.56%
• 1M: -9.65%
• 6M: -20.90%
• YTD: -23.54%
• 1Y: 7.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.04%

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

WDTE vs. TSLW - Yearly Performance Comparison

	2026 (YTD)	2025
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	9.15%	13.36%
TSLW Roundhill TSLA WeeklyPay™ ETF	-23.54%	35.28%

Correlation

The correlation between WDTE and TSLW is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Jun 2, 2025	0.53

The correlation between WDTE and TSLW has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.

Return for Risk

WDTE vs. TSLW — Risk / Return Rank

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

WDTE

WDTE Risk / Return Rank: 61
WDTE Sharpe Ratio Rank: 60
WDTE Sortino Ratio Rank: 54
WDTE Omega Ratio Rank: 64
WDTE Calmar Ratio Rank: 57
WDTE Martin Ratio Rank: 72

TSLW

TSLW Risk / Return Rank: 14
TSLW Sharpe Ratio Rank: 13
TSLW Sortino Ratio Rank: 16
TSLW Omega Ratio Rank: 15
TSLW Calmar Ratio Rank: 13
TSLW Martin Ratio Rank: 13

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. TSLW - 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 TSLA WeeklyPay™ ETF (TSLW). 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	TSLW	Difference
Sharpe ratio: Return per unit of total volatility	1.49	0.15	+1.34
Sortino ratio: Return per unit of downside risk	1.99	0.59	+1.40
Omega ratio: Gain probability vs. loss probability	1.29	1.07	+0.22
Calmar ratio: Return relative to maximum drawdown	2.15	0.22	+1.93
Martin ratio: Return relative to average drawdown	9.56	0.45	+9.12

WDTE vs. TSLW - Sharpe Ratio Comparison

The current WDTE Sharpe Ratio is 1.49, which is higher than the TSLW Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of WDTE and TSLW, 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. TSLW - Drawdown Comparison

The maximum WDTE drawdown since its inception was -15.85%, smaller than the maximum TSLW drawdown of -35.80%. Use the drawdown chart below to compare losses from any high point for WDTE and TSLW.

Drawdown Indicators

	WDTE	TSLW	Difference
Max Drawdown Largest peak-to-trough decline	-15.85%	-35.80%	+19.95%
Max Drawdown (1Y) Largest decline over 1 year	-7.65%	-35.80%	+28.15%
Current Drawdown Current decline from peak	-1.82%	-31.09%	+29.27%
Average Drawdown Average peak-to-trough decline	-1.83%	-14.09%	+12.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	17.35%	-15.63%

Volatility

WDTE vs. TSLW - Volatility Comparison

The current volatility for Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) is 2.64%, while Roundhill TSLA WeeklyPay™ ETF (TSLW) has a volatility of 20.20%. This indicates that WDTE experiences smaller price fluctuations and is considered to be less risky than TSLW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDTE	TSLW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	20.20%	-17.56%
Volatility (6M) Calculated over the trailing 6-month period	9.36%	37.55%	-28.19%
Volatility (1Y) Calculated over the trailing 1-year period	11.09%	53.50%	-42.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.43%	56.94%	-45.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.43%	56.94%	-45.51%

WDTE vs. TSLW - Expense Ratio Comparison

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

Dividends

WDTE vs. TSLW - Dividend Comparison

WDTE's dividend yield for the trailing twelve months is around 32.91%, less than TSLW's 101.07% yield.

Position	TTM	2025	2024	2023
TSLW Roundhill TSLA WeeklyPay™ ETF	101.07%	49.31%	0.00%	0.00%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	32.91%	35.78%	51.80%	16.41%

Frequently Asked Questions

Can I hold both WDTE and TSLW in my portfolio?

WDTE and TSLW have a correlation of 0.56, 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 TSLW?

TSLW has higher volatility (20.20%) compared to WDTE (2.64%). In terms of maximum drawdown, WDTE dropped -15.85% vs TSLW's -35.80%.

Which ETF is better, WDTE or TSLW?

On 1-year performance, WDTE leads with 16.38% vs 7.72% for TSLW. On fees, TSLW is cheaper at 0.99% per year. On volatility, WDTE has been the lower-risk option at 2.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WDTE or TSLW?

Over the 1-year period, WDTE has performed better with a 16.38% return vs 7.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WDTE or TSLW?

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

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

TSLW has the higher dividend yield at 101.07%, compared with 32.91% for WDTE.

What is the main difference between WDTE and TSLW?

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

Which has better risk-adjusted returns?

WDTE currently has the higher Sharpe Ratio (1.49 vs 0.15), 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.