WPAY vs. TCAL

Last updated Apr 1, 2026

Compare and contrast key facts about Roundhill WeeklyPay™ Universe ETF (WPAY) and T. Rowe Price Capital Appreciation Premium Income ETF (TCAL).

WPAY and TCAL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WPAY is a passively managed fund by Roundhill that tracks the performance of the Solactive Roundhill WeeklyPay™ Universe Index. It was launched on Sep 3, 2025. TCAL is an actively managed fund by T. Rowe Price. It was launched on Mar 26, 2025.

Performance

WPAY vs. TCAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill WeeklyPay™ Universe ETF (WPAY) and T. Rowe Price Capital Appreciation Premium Income ETF (TCAL). The values are adjusted to include any dividend payments, if applicable.

WPAY vs. TCAL - Yearly Performance Comparison

	2026 (YTD)	2025
WPAY Roundhill WeeklyPay™ Universe ETF	-10.65%	-2.47%
TCAL T. Rowe Price Capital Appreciation Premium Income ETF	-2.47%	0.08%

Returns By Period

In the year-to-date period, WPAY achieves a -10.65% return, which is significantly lower than TCAL's -2.47% return.

WPAY

• 1D: -1.58%
• 1M: -3.05%
• YTD: -10.65%
• 6M: -19.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TCAL

• 1D: 0.99%
• 1M: -5.52%
• YTD: -2.47%
• 6M: -2.85%
• 1Y: -1.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WPAY vs. TCAL - Expense Ratio Comparison

WPAY has a 0.99% expense ratio, which is higher than TCAL's 0.34% expense ratio.

WPAY

Roundhill WeeklyPay™ Universe ETF

TCAL

T. Rowe Price Capital Appreciation Premium Income ETF

Return for Risk

WPAY vs. TCAL — Risk / Return Rank

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

TCAL

TCAL Risk / Return Rank: 9
TCAL Sharpe Ratio Rank: 10
TCAL Sortino Ratio Rank: 8
TCAL Omega Ratio Rank: 8
TCAL Calmar Ratio Rank: 11
TCAL Martin Ratio Rank: 10

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.

WPAY vs. TCAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill WeeklyPay™ Universe ETF (WPAY) and T. Rowe Price Capital Appreciation Premium Income ETF (TCAL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	WPAY	TCAL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.78	-0.08	-0.70

Correlation

The correlation between WPAY and TCAL is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

WPAY vs. TCAL - Dividend Comparison

WPAY's dividend yield for the trailing twelve months is around 36.55%, more than TCAL's 11.74% yield.

	TTM	2025
WPAY Roundhill WeeklyPay™ Universe ETF	36.55%	21.51%
TCAL T. Rowe Price Capital Appreciation Premium Income ETF	11.74%	8.34%

Drawdowns

WPAY vs. TCAL - Drawdown Comparison

The maximum WPAY drawdown since its inception was -26.17%, which is greater than TCAL's maximum drawdown of -7.24%. Use the drawdown chart below to compare losses from any high point for WPAY and TCAL.

Drawdown Indicators

	WPAY	TCAL	Difference
Max Drawdown Largest peak-to-trough decline	-26.17%	-7.24%	-18.93%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.24%	—
Current Drawdown Current decline from peak	-25.35%	-5.52%	-19.83%
Average Drawdown Average peak-to-trough decline	-11.92%	-1.59%	-10.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.13%	—

Volatility

Volatility by Period

	WPAY	TCAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.36%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.61%	—
Volatility (1Y) Calculated over the trailing 1-year period	28.83%	11.70%	+17.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.83%	11.68%	+17.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.83%	11.68%	+17.15%