WDTE vs. XMAG

Last updated Jun 24, 2026

WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) and XMAG (Defiance Large Cap ex-Mag 7 ETF) are both exchange-traded funds - WDTE is a Derivative Income fund actively managed by Defiance, while XMAG is a Large Cap Blend Equities fund tracking the BITA US 500 ex Magnificent 7 Index. WDTE is actively managed, while XMAG is passively managed. Over the past year, WDTE returned 19.25% vs 23.87% for XMAG. A 0.79 correlation means they provide meaningful diversification when combined. WDTE charges 1.01%/yr vs 0.35%/yr for XMAG.

Performance

WDTE vs. XMAG - 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 Defiance Large Cap ex-Mag 7 ETF (XMAG). 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 lower than XMAG's 12.75% return.

WDTE

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

XMAG

• 1D: -1.17%
• 1M: 3.00%
• YTD: 12.75%
• 6M: 12.39%
• 1Y: 23.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WDTE vs. XMAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	7.90%	13.60%	-1.49%
XMAG Defiance Large Cap ex-Mag 7 ETF	12.75%	15.63%	-1.52%

Correlation

The correlation between WDTE and XMAG is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024	0.79

The correlation between WDTE and XMAG has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

WDTE vs. XMAG - Sectors Allocation Comparison

Sectors	WDTE	XMAG
Technology	39.0%	29.0%
Financial Services	11.1%	16.7%
Communication Services	10.6%	3.2%
Consumer Cyclical	9.9%	5.5%
Healthcare	8.3%	12.6%
Industrials	7.8%	12.1%
Consumer Defensive	4.5%	6.9%
Energy	3.1%	4.7%
Utilities	2.1%	3.8%
Real Estate	1.8%	2.7%
Basic Materials	1.7%	2.5%

Return for Risk

WDTE vs. XMAG — 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

XMAG

XMAG Risk / Return Rank: 68
XMAG Sharpe Ratio Rank: 66
XMAG Sortino Ratio Rank: 67
XMAG Omega Ratio Rank: 61
XMAG Calmar Ratio Rank: 68
XMAG Martin Ratio Rank: 78

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. XMAG - 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 Defiance Large Cap ex-Mag 7 ETF (XMAG). 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	XMAG	Difference
Sharpe ratio: Return per unit of total volatility	1.76	2.06	-0.29
Sortino ratio: Return per unit of downside risk	2.32	2.93	-0.61
Omega ratio: Gain probability vs. loss probability	1.34	1.36	-0.02
Calmar ratio: Return relative to maximum drawdown	2.53	3.29	-0.76
Martin ratio: Return relative to average drawdown	11.66	14.46	-2.79

WDTE vs. XMAG - Sharpe Ratio Comparison

The current WDTE Sharpe Ratio is 1.76, which is comparable to the XMAG Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of WDTE and XMAG, 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. XMAG - Drawdown Comparison

The maximum WDTE drawdown since its inception was -15.85%, roughly equal to the maximum XMAG drawdown of -16.17%. Use the drawdown chart below to compare losses from any high point for WDTE and XMAG.

Drawdown Indicators

	WDTE	XMAG	Difference
Max Drawdown Largest peak-to-trough decline	-15.85%	-16.17%	+0.32%
Max Drawdown (1Y) Largest decline over 1 year	-7.65%	-7.29%	-0.36%
Current Drawdown Current decline from peak	-2.94%	-1.17%	-1.77%
Average Drawdown Average peak-to-trough decline	-1.83%	-2.09%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	1.65%	0.00%

Volatility

WDTE vs. XMAG - Volatility Comparison

Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) and Defiance Large Cap ex-Mag 7 ETF (XMAG) have volatilities of 4.44% and 4.42%, 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	XMAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	4.42%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	9.26%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	10.97%	11.69%	-0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.51%	15.19%	-3.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.51%	15.19%	-3.68%

WDTE vs. XMAG - Expense Ratio Comparison

WDTE has a 1.01% expense ratio, which is higher than XMAG's 0.35% expense ratio.

Dividends

WDTE vs. XMAG - Dividend Comparison

WDTE's dividend yield for the trailing twelve months is around 32.96%, more than XMAG's 0.46% yield.

Position	TTM	2025	2024	2023
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	32.96%	35.78%	51.80%	16.41%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.46%	0.51%	0.24%	0.00%

Frequently Asked Questions

Can I hold both WDTE and XMAG in my portfolio?

WDTE and XMAG have a correlation of 0.78, 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 XMAG?

WDTE has higher volatility (4.44%) compared to XMAG (4.42%). In terms of maximum drawdown, WDTE dropped -15.85% vs XMAG's -16.17%.

Which ETF is better, WDTE or XMAG?

On 1-year performance, XMAG leads with 23.87% vs 19.25% for WDTE. On fees, XMAG is cheaper at 0.35% 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 XMAG?

Over the 1-year period, XMAG has performed better with a 23.87% 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 XMAG?

XMAG is cheaper with a 0.35% expense ratio, compared with 1.01% for WDTE.

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

WDTE has the higher dividend yield at 32.96%, compared with 0.46% for XMAG.

What is the main difference between WDTE and XMAG?

WDTE is categorized as Derivative Income, while XMAG is Large Cap Blend Equities. Their fees differ too: 1.01% for WDTE and 0.35% for XMAG.

Which has better risk-adjusted returns?

XMAG currently has the higher Sharpe Ratio (2.06 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.