WDTE vs. XDTE

Last updated Jun 24, 2026

WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) and XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, WDTE returned 19.25% vs 22.04% for XDTE. Their correlation of 0.88 suggests significant overlap in exposure. WDTE charges 1.01%/yr vs 0.97%/yr for XDTE.

Performance

WDTE vs. XDTE - 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 S&P 500 0DTE Covered Call Strategy ETF (XDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WDTE achieves a 7.90% return, which is significantly higher than XDTE's 6.79% return.

WDTE

• 1D: -1.29%
• 1M: -1.54%
• YTD: 7.90%
• 6M: 7.06%
• 1Y: 19.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XDTE

• 1D: -1.35%
• 1M: -0.74%
• YTD: 6.79%
• 6M: 5.92%
• 1Y: 22.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WDTE vs. XDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	7.90%	13.60%	6.88%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	6.79%	12.60%	17.12%

Correlation

The correlation between WDTE and XDTE is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.88

The correlation between WDTE and XDTE has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

WDTE vs. XDTE - Sectors Allocation Comparison

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

Return for Risk

WDTE vs. XDTE — Risk / Return Rank

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

WDTE

WDTE Risk / Return Rank: 57
WDTE Sharpe Ratio Rank: 55
WDTE Sortino Ratio Rank: 50
WDTE Omega Ratio Rank: 59
WDTE Calmar Ratio Rank: 54
WDTE Martin Ratio Rank: 67

XDTE

XDTE Risk / Return Rank: 61
XDTE Sharpe Ratio Rank: 59
XDTE Sortino Ratio Rank: 55
XDTE Omega Ratio Rank: 59
XDTE Calmar Ratio Rank: 61
XDTE Martin Ratio Rank: 70

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. XDTE - 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 S&P 500 0DTE Covered Call Strategy ETF (XDTE). 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	XDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.92	-0.15
Sortino ratio: Return per unit of downside risk	2.32	2.56	-0.24
Omega ratio: Gain probability vs. loss probability	1.34	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	2.53	2.88	-0.35
Martin ratio: Return relative to average drawdown	11.66	12.61	-0.95

WDTE vs. XDTE - Sharpe Ratio Comparison

The current WDTE Sharpe Ratio is 1.76, which is comparable to the XDTE Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of WDTE and XDTE, 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. XDTE - Drawdown Comparison

The maximum WDTE drawdown since its inception was -15.85%, smaller than the maximum XDTE drawdown of -19.09%. Use the drawdown chart below to compare losses from any high point for WDTE and XDTE.

Drawdown Indicators

	WDTE	XDTE	Difference
Max Drawdown Largest peak-to-trough decline	-15.85%	-19.09%	+3.24%
Max Drawdown (1Y) Largest decline over 1 year	-7.65%	-7.68%	+0.03%
Current Drawdown Current decline from peak	-2.94%	-2.52%	-0.42%
Average Drawdown Average peak-to-trough decline	-1.83%	-2.31%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	1.75%	-0.10%

Volatility

WDTE vs. XDTE - Volatility Comparison

Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) and Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) have volatilities of 4.44% and 4.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDTE	XDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	4.52%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	9.12%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	10.97%	11.58%	-0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.51%	13.97%	-2.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.51%	13.97%	-2.46%

WDTE vs. XDTE - Expense Ratio Comparison

WDTE has a 1.01% expense ratio, which is higher than XDTE's 0.97% expense ratio.

Dividends

WDTE vs. XDTE - Dividend Comparison

WDTE's dividend yield for the trailing twelve months is around 32.96%, which matches XDTE's 33.21% yield.

Position	TTM	2025	2024	2023
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	32.96%	35.78%	51.80%	16.41%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.21%	39.16%	20.35%	0.00%

Frequently Asked Questions

Can I hold both WDTE and XDTE in my portfolio?

WDTE and XDTE have a correlation of 0.89, 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 XDTE?

XDTE has higher volatility (4.52%) compared to WDTE (4.44%). In terms of maximum drawdown, WDTE dropped -15.85% vs XDTE's -19.09%.

Which ETF is better, WDTE or XDTE?

On 1-year performance, XDTE leads with 22.04% vs 19.25% for WDTE. On fees, XDTE is cheaper at 0.97% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WDTE or XDTE?

Over the 1-year period, XDTE has performed better with a 22.04% return vs 19.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WDTE or XDTE?

XDTE is cheaper with a 0.97% expense ratio, compared with 1.01% for WDTE.

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

XDTE has the higher dividend yield at 33.21%, compared with 32.96% for WDTE.

What is the main difference between WDTE and XDTE?

They also come from different issuers: Defiance and Roundhill. Their fees differ too: 1.01% for WDTE and 0.97% for XDTE.

Which has better risk-adjusted returns?

XDTE currently has the higher Sharpe Ratio (1.92 vs 1.76), 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.