XDTE vs. IWMY

Last updated Apr 2, 2026

Compare and contrast key facts about Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY).

XDTE and IWMY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XDTE is an actively managed fund by Roundhill. It was launched on Mar 7, 2024. IWMY is a passively managed fund by Defiance that tracks the performance of the Russell 2000 Index. It was launched on Oct 30, 2023.

Performance

XDTE vs. IWMY - 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 Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

XDTE vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	-2.43%	12.60%	16.39%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	-0.96%	10.18%	5.05%

Returns By Period

In the year-to-date period, XDTE achieves a -2.43% return, which is significantly lower than IWMY's -0.96% return.

XDTE

• 1D: 1.03%
• 1M: -4.05%
• YTD: -2.43%
• 6M: 0.99%
• 1Y: 13.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: 0.61%
• 1M: -5.59%
• YTD: -0.96%
• 6M: -5.14%
• 1Y: 12.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XDTE vs. IWMY - Expense Ratio Comparison

XDTE has a 0.97% expense ratio, which is lower than IWMY's 0.99% expense ratio.

IWMY

Defiance R2000 Enhanced Options & 0DTE Income ETF

XDTE

Roundhill S&P 500 0DTE Covered Call Strategy ETF

Return for Risk

XDTE vs. IWMY — Risk / Return Rank

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

XDTE

XDTE Risk / Return Rank: 45
XDTE Sharpe Ratio Rank: 48
XDTE Sortino Ratio Rank: 41
XDTE Omega Ratio Rank: 48
XDTE Calmar Ratio Rank: 41
XDTE Martin Ratio Rank: 46

IWMY

IWMY Risk / Return Rank: 33
IWMY Sharpe Ratio Rank: 34
IWMY Sortino Ratio Rank: 31
IWMY Omega Ratio Rank: 31
IWMY Calmar Ratio Rank: 36
IWMY Martin Ratio Rank: 33

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.

XDTE vs. IWMY - 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 Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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.

	XDTE	IWMY	Difference
Sharpe ratio Return per unit of total volatility	0.90	0.68	+0.22
Sortino ratio Return per unit of downside risk	1.21	0.95	+0.26
Omega ratio Gain probability vs. loss probability	1.19	1.13	+0.06
Calmar ratio Return relative to maximum drawdown	1.12	0.97	+0.15
Martin ratio Return relative to average drawdown	4.60	3.02	+1.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDTE vs. IWMY - Sharpe Ratio Comparison

The current XDTE Sharpe Ratio is 0.90, which is higher than the IWMY Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of XDTE and IWMY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XDTE	IWMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	0.68	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.66	+0.25

Correlation

The correlation between XDTE and IWMY is 0.73, 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

XDTE vs. IWMY - Dividend Comparison

XDTE's dividend yield for the trailing twelve months is around 38.73%, less than IWMY's 57.52% yield.

	TTM	2025	2024	2023
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	38.73%	39.16%	20.35%	0.00%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	57.52%	63.33%	107.92%	11.34%

Drawdowns

XDTE vs. IWMY - Drawdown Comparison

The maximum XDTE drawdown since its inception was -19.09%, roughly equal to the maximum IWMY drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for XDTE and IWMY.

Drawdown Indicators

	XDTE	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-19.09%	-18.72%	-0.37%
Max Drawdown (1Y) Largest decline over 1 year	-12.87%	-12.55%	-0.32%
Current Drawdown Current decline from peak	-4.87%	-7.98%	+3.11%
Average Drawdown Average peak-to-trough decline	-2.44%	-3.07%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	4.04%	-0.90%

Volatility

XDTE vs. IWMY - Volatility Comparison

The current volatility for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) is 4.77%, while Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) has a volatility of 7.26%. This indicates that XDTE experiences smaller price fluctuations and is considered to be less risky than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDTE	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.77%	7.26%	-2.49%
Volatility (6M) Calculated over the trailing 6-month period	8.90%	12.32%	-3.42%
Volatility (1Y) Calculated over the trailing 1-year period	15.42%	17.74%	-2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.07%	15.62%	-1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.07%	15.62%	-1.55%