WEED vs. XME

Last updated Aug 2, 2026

WEED (Roundhill Cannabis ETF) and XME (SPDR S&P Metals & Mining ETF) are both exchange-traded funds - WEED is a Cannabis fund actively managed by Roundhill, while XME is a Materials fund tracking the S&P Metals & Mining Select Industry Index. WEED is actively managed, while XME is passively managed. Over the past 3 years, WEED returned -6.56%/yr vs 24.33%/yr for XME. Their 0.28 correlation means their historical movements had little consistent relationship. WEED charges 0.40%/yr vs 0.35%/yr for XME.

Performance

WEED vs. XME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Cannabis ETF (WEED) and SPDR S&P Metals & Mining ETF (XME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WEED achieves a -4.55% return, which is significantly lower than XME's -2.73% return.

WEED

• 1D: 1.12%
• 1M: -11.61%
• 6M: 11.61%
• YTD: -4.55%
• 1Y: 46.71%
• 3Y*: -6.56%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -27.97%

XME

• 1D: -1.19%
• 1M: -4.26%
• 6M: -15.11%
• YTD: -2.73%
• 1Y: 39.51%
• 3Y*: 24.33%
• 5Y*: 18.53%
• 10Y*: 14.85%
• ALL TIME*: 5.47%

*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)
WEED Roundhill Cannabis ETF	$134.43K	$200.90K	$425.04K
XME SPDR S&P Metals & Mining ETF	$205.06M	$204.83M	$245.34M

WEED vs. XME - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
WEED Roundhill Cannabis ETF	-4.55%	19.40%	-44.93%	0.87%	-61.19%
XME SPDR S&P Metals & Mining ETF	-2.73%	83.47%	-4.54%	21.51%	-22.89%

Correlation

The correlation between WEED and XME is 0.31, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.31
Correlation (3Y) Balances recent behavior with more history.	0.24
Correlation (All Time) Calculated using the full available price history since Apr 20, 2022	0.28

WEED vs. XME - Sectors Allocation Comparison

Sectors	WEED	XME
Healthcare	60.0%	-
Consumer Defensive	17.3%	0.8%
Real Estate	16.3%	-
Technology	6.3%	2.2%
Basic Materials	-	75.3%
Communication Services	-	-
Consumer Cyclical	-	-
Energy	-	23.5%
Financial Services	-	-
Industrials	-	0.4%
Utilities	-	-

Return for Risk

WEED vs. XME — Risk / Return Rank

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

WEED

WEED Risk / Return Rank: 34
WEED Sharpe Ratio Rank: 23
WEED Sortino Ratio Rank: 46
WEED Omega Ratio Rank: 43
WEED Calmar Ratio Rank: 32
WEED Martin Ratio Rank: 24

XME

XME Risk / Return Rank: 39
XME Sharpe Ratio Rank: 42
XME Sortino Ratio Rank: 41
XME Omega Ratio Rank: 40
XME Calmar Ratio Rank: 41
XME Martin Ratio Rank: 34

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.

WEED vs. XME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Cannabis ETF (WEED) and SPDR S&P Metals & Mining ETF (XME). 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.

	WEED	XME	Difference
Sharpe ratio: Return per unit of total volatility	0.53	1.03	-0.50
Sortino ratio: Return per unit of downside risk	1.69	1.52	+0.17
Omega ratio: Gain probability vs. loss probability	1.20	1.19	+0.01
Calmar ratio: Return relative to maximum drawdown	1.09	1.43	-0.34
Martin ratio: Return relative to average drawdown	1.90	3.22	-1.32

WEED vs. XME - Sharpe Ratio Comparison

The current WEED Sharpe Ratio is 0.53, which is lower than the XME Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of WEED and XME, 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

WEED vs. XME - Drawdown Comparison

The maximum WEED drawdown since its inception was -88.37%, roughly equal to the maximum XME drawdown of -85.89%. Use the drawdown chart below to compare losses from any high point for WEED and XME.

Drawdown Indicators

	WEED	XME	Difference
Max Drawdown Largest peak-to-trough decline	-88.37%	-85.89%	-2.48%
Max Drawdown (1Y) Largest decline over 1 year	-54.01%	-26.49%	-27.52%
Max Drawdown (3Y) Largest decline over 3 years	-81.50%	-30.47%	-51.03%
Max Drawdown (5Y) Largest decline over 5 years	—	-37.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-75.43%	-24.17%	-51.26%
Average Drawdown Average peak-to-trough decline	-63.95%	-43.93%	-20.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.02%	11.77%	+19.25%

Volatility

WEED vs. XME - Volatility Comparison

Roundhill Cannabis ETF (WEED) has a higher volatility of 12.78% compared to SPDR S&P Metals & Mining ETF (XME) at 10.33%. This indicates that WEED's price experiences larger fluctuations and is considered to be riskier than XME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WEED	XME	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.78%	10.33%	+2.45%
Volatility (6M) Calculated over the trailing 6-month period	55.58%	28.52%	+27.06%
Volatility (1Y) Calculated over the trailing 1-year period	111.46%	36.88%	+74.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.80%	32.70%	+49.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.80%	32.88%	+48.92%

WEED vs. XME - Expense Ratio Comparison

WEED has a 0.40% expense ratio, which is higher than XME's 0.35% expense ratio.

Dividends

WEED vs. XME - Dividend Comparison

WEED has not paid dividends to shareholders, while XME's dividend yield for the trailing twelve months is around 0.37%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WEED Roundhill Cannabis ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XME SPDR S&P Metals & Mining ETF	0.37%	0.38%	0.65%	1.00%	1.64%	0.70%	0.99%	2.43%	2.23%	1.15%	1.02%	2.61%

Frequently Asked Questions

Can I hold both WEED and XME in my portfolio?

WEED and XME have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WEED or XME?

WEED has higher volatility (12.78%) compared to XME (10.33%). In terms of maximum drawdown, WEED dropped -88.37% vs XME's -85.89%.

Which ETF is better, WEED or XME?

On 3-year performance, XME leads with 24.33% vs -6.56% for WEED. On fees, XME is cheaper at 0.35% per year. On volatility, XME has been the lower-risk option at 10.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WEED or XME?

Over the 3-year period, XME has performed better with a 24.33% return vs -6.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WEED or XME?

XME is cheaper with a 0.35% expense ratio, compared with 0.40% for WEED.

Which ETF pays a higher dividend yield, WEED or XME?

XME has the higher dividend yield at 0.37%, compared with 0.00% for WEED.

What is the main difference between WEED and XME?

WEED is categorized as Cannabis, while XME is Materials. They also come from different issuers: Roundhill and State Street. Their fees differ too: 0.40% for WEED and 0.35% for XME.

Which has better risk-adjusted returns?

XME currently has the higher Sharpe Ratio (1.03 vs 0.53), 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.