XDTE vs. PNNT
XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) is Derivative Income fund actively managed by Roundhill, while PNNT (PennantPark Investment Corporation) is a stock. Over the past year, XDTE returned 21.75% vs -33.82% for PNNT. At a 0.38 correlation, their price movements are largely independent.
Performance
XDTE vs. PNNT - Performance Comparison
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Returns By Period
In the year-to-date period, XDTE achieves a 6.97% return, which is significantly higher than PNNT's -29.84% return.
XDTE
- 1D
- 0.65%
- 1M
- -0.46%
- YTD
- 6.97%
- 6M
- 7.43%
- 1Y
- 21.75%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PNNT
- 1D
- 1.58%
- 1M
- -8.53%
- YTD
- -29.84%
- 6M
- -27.65%
- 1Y
- -33.82%
- 3Y*
- 0.38%
- 5Y*
- 0.83%
- 10Y*
- 7.07%
XDTE vs. PNNT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF | 6.97% | 12.60% | 17.12% |
PNNT PennantPark Investment Corporation | -29.84% | -2.96% | 17.25% |
Correlation
The correlation between XDTE and PNNT is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | 0.38 |
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Return for Risk
XDTE vs. PNNT — Risk / Return Rank
XDTE
PNNT
XDTE vs. PNNT - 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 PennantPark Investment Corporation (PNNT). 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 | PNNT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.17 | ||
| Sortino ratioReturn per unit of downside risk | +4.26 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.78 | +0.57 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | -0.80 | +3.64 |
| Martin ratioReturn relative to average drawdown | 12.55 | -1.65 | +14.19 |
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Drawdowns
XDTE vs. PNNT - Drawdown Comparison
The maximum XDTE drawdown since its inception was -19.09%, smaller than the maximum PNNT drawdown of -82.16%. Use the drawdown chart below to compare losses from any high point for XDTE and PNNT.
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Drawdown Indicators
| XDTE | PNNT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.09% | -82.16% | +63.07% |
Max Drawdown (1Y)Largest decline over 1 year | -7.68% | -42.61% | +34.93% |
Max Drawdown (3Y)Largest decline over 3 years | — | -42.61% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -42.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -69.14% | — |
Current DrawdownCurrent decline from peak | -2.36% | -40.28% | +37.92% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -15.29% | +12.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 20.58% | -18.84% |
Volatility
XDTE vs. PNNT - Volatility Comparison
The current volatility for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) is 3.93%, while PennantPark Investment Corporation (PNNT) has a volatility of 9.97%. This indicates that XDTE experiences smaller price fluctuations and is considered to be less risky than PNNT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XDTE | PNNT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 9.97% | -6.04% |
Volatility (6M)Calculated over the trailing 6-month period | 8.88% | 23.95% | -15.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.38% | 27.06% | -15.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.92% | 23.79% | -9.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.92% | 32.76% | -18.84% |
Dividends
XDTE vs. PNNT - Dividend Comparison
XDTE's dividend yield for the trailing twelve months is around 33.43%, more than PNNT's 24.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNNT PennantPark Investment Corporation | 24.94% | 16.11% | 12.85% | 11.65% | 10.43% | 6.93% | 11.71% | 11.03% | 11.30% | 10.42% | 14.62% | 18.12% |
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF | 33.43% | 39.16% | 20.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XDTE and PNNT have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PNNT has higher volatility (9.97%) compared to XDTE (3.93%). In terms of maximum drawdown, XDTE dropped -19.09% vs PNNT's -82.16%.
XDTE currently has the higher Sharpe Ratio (1.92 vs -1.25), 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.
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