WDTE vs. XMAG

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) and Defiance Large Cap ex-Mag 7 ETF (XMAG).

WDTE and XMAG 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. XMAG is a passively managed fund by Defiance that tracks the performance of the BITA US 500 ex Magnificent 7 Index. It was launched on Oct 21, 2024.

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.

WDTE vs. XMAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	-3.64%	13.60%	-1.62%
XMAG Defiance Large Cap ex-Mag 7 ETF	-1.56%	15.63%	-1.67%

Returns By Period

In the year-to-date period, WDTE achieves a -3.64% return, which is significantly lower than XMAG's -1.56% return.

WDTE

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

XMAG

• 1D: 2.57%
• 1M: -4.91%
• YTD: -1.56%
• 6M: 0.82%
• 1Y: 13.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WDTE vs. XMAG - Expense Ratio Comparison

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

WDTE

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

XMAG

Defiance Large Cap ex-Mag 7 ETF

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: 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

XMAG

XMAG Risk / Return Rank: 54
XMAG Sharpe Ratio Rank: 48
XMAG Sortino Ratio Rank: 49
XMAG Omega Ratio Rank: 51
XMAG Calmar Ratio Rank: 55
XMAG Martin Ratio Rank: 67

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.

	WDTE	XMAG	Difference
Sharpe ratio Return per unit of total volatility	0.90	0.82	+0.08
Sortino ratio Return per unit of downside risk	1.13	1.25	-0.12
Omega ratio Gain probability vs. loss probability	1.19	1.18	+0.01
Calmar ratio Return relative to maximum drawdown	1.21	1.29	-0.08
Martin ratio Return relative to average drawdown	4.88	6.26	-1.38
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. XMAG - Sharpe Ratio Comparison

The current WDTE Sharpe Ratio is 0.90, which is comparable to the XMAG Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of WDTE and XMAG, 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	XMAG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	0.82	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.53	+0.36

Correlation

The correlation between WDTE and XMAG is 0.79, 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. XMAG - Dividend Comparison

WDTE's dividend yield for the trailing twelve months is around 37.31%, more than XMAG's 0.52% yield.

	TTM	2025	2024	2023
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	37.31%	35.78%	51.80%	16.41%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.52%	0.51%	0.24%	0.00%

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	-10.75%	-11.21%	+0.46%
Current Drawdown Current decline from peak	-5.34%	-4.91%	-0.43%
Average Drawdown Average peak-to-trough decline	-1.89%	-2.30%	+0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	2.31%	+0.35%

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 4.71% and 4.64%, 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	4.71%	4.64%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	8.27%	8.70%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	13.61%	16.35%	-2.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.30%	15.48%	-4.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.30%	15.48%	-4.18%