XDIV vs. CLIP

Last updated Jun 24, 2026

XDIV (Roundhill S&P 500 No Dividend Target ETF) and CLIP (Global X 1-3 Month T-Bill ETF) are both exchange-traded funds - XDIV is a S&P 500 fund actively managed by Roundhill, while CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD. XDIV is actively managed, while CLIP is passively managed. At a correlation of -0.05, they often move in opposite directions. XDIV charges 0.08%/yr vs 0.07%/yr for CLIP.

Performance

XDIV vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 No Dividend Target ETF (XDIV) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDIV achieves a 8.01% return, which is significantly higher than CLIP's 1.71% return.

XDIV

• 1D: -1.37%
• 1M: -1.30%
• YTD: 8.01%
• 6M: 7.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLIP

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.71%
• 6M: 1.80%
• 1Y: 3.95%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

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

XDIV vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025
XDIV Roundhill S&P 500 No Dividend Target ETF	8.01%	10.07%
CLIP Global X 1-3 Month T-Bill ETF	1.71%	2.01%

Correlation

The correlation between XDIV and CLIP is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025	-0.05

Return for Risk

XDIV vs. CLIP — Risk / Return Rank

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

XDIV

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

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

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.

XDIV vs. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 No Dividend Target ETF (XDIV) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

	XDIV	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	—	17.84	—
Sortino ratio: Return per unit of downside risk	—	80.86	—
Omega ratio: Gain probability vs. loss probability	—	26.35	—
Calmar ratio: Return relative to maximum drawdown	—	141.67	—
Martin ratio: Return relative to average drawdown	—	1,281.30	—

Drawdowns

XDIV vs. CLIP - Drawdown Comparison

The maximum XDIV drawdown since its inception was -9.16%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for XDIV and CLIP.

Drawdown Indicators

	XDIV	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-9.16%	-0.08%	-9.08%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.03%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.08%	—
Current Drawdown Current decline from peak	-3.02%	0.00%	-3.02%
Average Drawdown Average peak-to-trough decline	-1.25%	-0.00%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	XDIV	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.15%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.86%	0.22%	+12.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.86%	0.44%	+12.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.86%	0.44%	+12.42%

XDIV vs. CLIP - Expense Ratio Comparison

XDIV has a 0.08% expense ratio, which is higher than CLIP's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XDIV vs. CLIP - Dividend Comparison

XDIV has not paid dividends to shareholders, while CLIP's dividend yield for the trailing twelve months is around 3.90%.

Position	TTM	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	3.90%	4.14%	5.11%	2.75%
XDIV Roundhill S&P 500 No Dividend Target ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XDIV and CLIP in my portfolio?

XDIV and CLIP have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XDIV or CLIP?

On fees, CLIP is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDIV or CLIP?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.08% for XDIV.

Which ETF pays a higher dividend yield, XDIV or CLIP?

CLIP has the higher dividend yield at 3.90%, compared with 0.00% for XDIV.

What is the main difference between XDIV and CLIP?

XDIV is categorized as S&P 500, while CLIP is Ultrashort Bond. They also come from different issuers: Roundhill and Global X. Their fees differ too: 0.08% for XDIV and 0.07% for CLIP.