XDTE vs. BALI

Last updated Aug 6, 2026

XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) and BALI (Blackrock Advantage Large Cap Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, XDTE returned 21.42% vs 25.11% for BALI. Their correlation of 0.92 means they have usually moved in the same direction. XDTE charges 0.97%/yr vs 0.35%/yr for BALI.

Performance

XDTE vs. BALI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) and Blackrock Advantage Large Cap Income ETF (BALI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDTE achieves a 11.29% return, which is significantly lower than BALI's 15.45% return.

XDTE

• 1D: 0.05%
• 1M: 2.01%
• 6M: 9.93%
• YTD: 11.29%
• 1Y: 21.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.24%

BALI

• 1D: 0.12%
• 1M: 3.53%
• 6M: 13.95%
• YTD: 15.45%
• 1Y: 25.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.28%

*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)
BALI Blackrock Advantage Large Cap Income ETF	$7.36M	$7.38M	$9.08M
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	$7.06M	$7.78M	$7.52M

XDTE vs. BALI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	11.29%	12.60%	17.12%
BALI Blackrock Advantage Large Cap Income ETF	15.45%	14.51%	15.04%

Correlation

The correlation between XDTE and BALI is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.92

The correlation between XDTE and BALI has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

XDTE vs. BALI - Sectors Allocation Comparison

Sectors	XDTE	BALI
Technology	39.0%	36.2%
Financial Services	11.1%	9.7%
Communication Services	10.6%	10.0%
Consumer Cyclical	9.9%	10.1%
Healthcare	8.3%	10.6%
Industrials	7.8%	8.1%
Consumer Defensive	4.5%	6.0%
Energy	3.1%	4.1%
Utilities	2.1%	1.6%
Real Estate	1.8%	2.2%
Basic Materials	1.7%	1.4%

Return for Risk

XDTE vs. BALI — Risk / Return Rank

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

XDTE

XDTE Risk / Return Rank: 71
XDTE Sharpe Ratio Rank: 69
XDTE Sortino Ratio Rank: 65
XDTE Omega Ratio Rank: 68
XDTE Calmar Ratio Rank: 71
XDTE Martin Ratio Rank: 80

BALI

BALI Risk / Return Rank: 89
BALI Sharpe Ratio Rank: 89
BALI Sortino Ratio Rank: 88
BALI Omega Ratio Rank: 89
BALI Calmar Ratio Rank: 86
BALI Martin Ratio Rank: 92

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.

XDTE vs. BALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) and Blackrock Advantage Large Cap Income ETF (BALI). 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.

	XDTE	BALI	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.37	-0.55
Sortino ratio: Return per unit of downside risk	2.45	3.27	-0.82
Omega ratio: Gain probability vs. loss probability	1.33	1.44	-0.11
Calmar ratio: Return relative to maximum drawdown	2.80	3.76	-0.96
Martin ratio: Return relative to average drawdown	11.88	17.53	-5.65

XDTE vs. BALI - Sharpe Ratio Comparison

The current XDTE Sharpe Ratio is 1.82, which is comparable to the BALI Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of XDTE and BALI, 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

XDTE vs. BALI - Drawdown Comparison

The maximum XDTE drawdown since its inception was -19.09%, which is greater than BALI's maximum drawdown of -16.65%. Use the drawdown chart below to compare losses from any high point for XDTE and BALI.

Drawdown Indicators

	XDTE	BALI	Difference
Max Drawdown Largest peak-to-trough decline	-19.09%	-16.65%	-2.44%
Max Drawdown (1Y) Largest decline over 1 year	-7.68%	-6.71%	-0.97%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.25%	-1.59%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	1.44%	+0.37%

Volatility

XDTE vs. BALI - Volatility Comparison

Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) has a higher volatility of 3.60% compared to Blackrock Advantage Large Cap Income ETF (BALI) at 3.28%. This indicates that XDTE's price experiences larger fluctuations and is considered to be riskier than BALI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDTE	BALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	3.28%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	9.33%	8.53%	+0.80%
Volatility (1Y) Calculated over the trailing 1-year period	11.84%	10.65%	+1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.85%	12.91%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.85%	12.91%	+0.94%

XDTE vs. BALI - Expense Ratio Comparison

XDTE has a 0.97% expense ratio, which is higher than BALI's 0.35% expense ratio.

Dividends

XDTE vs. BALI - Dividend Comparison

XDTE's dividend yield for the trailing twelve months is around 31.42%, more than BALI's 7.63% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.63%	8.51%	7.13%	2.13%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	31.42%	39.16%	20.35%	0.00%

Frequently Asked Questions

Can I hold both XDTE and BALI in my portfolio?

With a correlation of 0.93, XDTE and BALI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XDTE or BALI?

XDTE has higher volatility (3.60%) compared to BALI (3.28%). In terms of maximum drawdown, XDTE dropped -19.09% vs BALI's -16.65%.

Which ETF is better, XDTE or BALI?

On 1-year performance, BALI leads with 25.11% vs 21.42% for XDTE. On fees, BALI is cheaper at 0.35% per year. On volatility, BALI has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDTE or BALI?

Over the 1-year period, BALI has performed better with a 25.11% return vs 21.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDTE or BALI?

BALI is cheaper with a 0.35% expense ratio, compared with 0.97% for XDTE.

Which ETF pays a higher dividend yield, XDTE or BALI?

XDTE has the higher dividend yield at 31.42%, compared with 7.63% for BALI.

What is the main difference between XDTE and BALI?

They also come from different issuers: Roundhill and BlackRock. Their fees differ too: 0.97% for XDTE and 0.35% for BALI.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.37 vs 1.82), 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.