WPAY vs. YMAX

Last updated Apr 2, 2026

Compare and contrast key facts about Roundhill WeeklyPay™ Universe ETF (WPAY) and YieldMax Universe Fund of Option Income ETFs (YMAX).

WPAY and YMAX 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. YMAX is an actively managed fund by YieldMax. It was launched on Jan 16, 2024.

Performance

WPAY vs. YMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill WeeklyPay™ Universe ETF (WPAY) and YieldMax Universe Fund of Option Income ETFs (YMAX). The values are adjusted to include any dividend payments, if applicable.

WPAY vs. YMAX - Yearly Performance Comparison

	2026 (YTD)	2025
WPAY Roundhill WeeklyPay™ Universe ETF	-10.65%	-2.47%
YMAX YieldMax Universe Fund of Option Income ETFs	-13.50%	-3.59%

Returns By Period

In the year-to-date period, WPAY achieves a -10.65% return, which is significantly higher than YMAX's -13.50% return.

WPAY

• 1D: -1.58%
• 1M: -3.42%
• YTD: -10.65%
• 6M: -19.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

YMAX

• 1D: -0.42%
• 1M: -6.83%
• YTD: -13.50%
• 6M: -20.90%
• 1Y: 0.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WPAY vs. YMAX - Expense Ratio Comparison

WPAY has a 0.99% expense ratio, which is lower than YMAX's 1.28% expense ratio.

YMAX

YieldMax Universe Fund of Option Income ETFs

WPAY

Roundhill WeeklyPay™ Universe ETF

Return for Risk

WPAY vs. YMAX — Risk / Return Rank

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

YMAX

YMAX Risk / Return Rank: 13
YMAX Sharpe Ratio Rank: 12
YMAX Sortino Ratio Rank: 12
YMAX Omega Ratio Rank: 12
YMAX Calmar Ratio Rank: 14
YMAX Martin Ratio Rank: 14

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. YMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill WeeklyPay™ Universe ETF (WPAY) and YieldMax Universe Fund of Option Income ETFs (YMAX). 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	YMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.78	0.30	-1.08

Correlation

The correlation between WPAY and YMAX is 0.83, 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

WPAY vs. YMAX - Dividend Comparison

WPAY's dividend yield for the trailing twelve months is around 36.55%, less than YMAX's 88.51% yield.

	TTM	2025	2024
WPAY Roundhill WeeklyPay™ Universe ETF	36.55%	21.51%	0.00%
YMAX YieldMax Universe Fund of Option Income ETFs	88.51%	78.70%	44.20%

Drawdowns

WPAY vs. YMAX - Drawdown Comparison

The maximum WPAY drawdown since its inception was -26.17%, roughly equal to the maximum YMAX drawdown of -26.13%. Use the drawdown chart below to compare losses from any high point for WPAY and YMAX.

Drawdown Indicators

	WPAY	YMAX	Difference
Max Drawdown Largest peak-to-trough decline	-26.17%	-26.13%	-0.04%
Max Drawdown (1Y) Largest decline over 1 year	—	-26.13%	—
Current Drawdown Current decline from peak	-25.35%	-23.31%	-2.04%
Average Drawdown Average peak-to-trough decline	-11.92%	-5.88%	-6.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.72%	—

Volatility

Volatility by Period

	WPAY	YMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.79%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.65%	—
Volatility (1Y) Calculated over the trailing 1-year period	28.83%	25.33%	+3.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.83%	23.00%	+5.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.83%	23.00%	+5.83%