XDTE vs. SMCY

Last updated Aug 6, 2026

XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) and SMCY (YieldMax SMCI Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, XDTE returned 21.42% vs -46.71% for SMCY. Their 0.49 correlation means their historical movements had little consistent relationship. XDTE charges 0.97%/yr vs 1.01%/yr for SMCY.

Performance

XDTE vs. SMCY - 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 YieldMax SMCI Option Income Strategy ETF (SMCY). 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 higher than SMCY's -5.85% return.

XDTE

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

SMCY

• 1D: -3.27%
• 1M: 7.45%
• 6M: -15.50%
• YTD: -5.85%
• 1Y: -46.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -28.42%

*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)
SMCY YieldMax SMCI Option Income Strategy ETF	$3.90M	$3.58M	$5.87M
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	$7.06M	$7.78M	$7.52M

XDTE vs. SMCY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	11.29%	12.60%	6.24%
SMCY YieldMax SMCI Option Income Strategy ETF	-5.85%	-15.41%	-33.36%

Correlation

The correlation between XDTE and SMCY is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.52
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024	0.49

The correlation between XDTE and SMCY has been stable across timeframes, ranging from 0.49 to 0.52 - a consistent structural relationship.

Return for Risk

XDTE vs. SMCY — 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

SMCY

SMCY Risk / Return Rank: 4
SMCY Sharpe Ratio Rank: 4
SMCY Sortino Ratio Rank: 5
SMCY Omega Ratio Rank: 4
SMCY Calmar Ratio Rank: 2
SMCY Martin Ratio Rank: 2

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. SMCY - 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 YieldMax SMCI Option Income Strategy ETF (SMCY). 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	SMCY	Difference
Sharpe ratio: Return per unit of total volatility	1.82	-0.62	+2.44
Sortino ratio: Return per unit of downside risk	2.45	-0.55	+3.01
Omega ratio: Gain probability vs. loss probability	1.33	0.92	+0.41
Calmar ratio: Return relative to maximum drawdown	2.80	-0.81	+3.61
Martin ratio: Return relative to average drawdown	11.88	-1.29	+13.18

XDTE vs. SMCY - Sharpe Ratio Comparison

The current XDTE Sharpe Ratio is 1.82, which is higher than the SMCY Sharpe Ratio of -0.62. The chart below compares the historical Sharpe Ratios of XDTE and SMCY, 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. SMCY - Drawdown Comparison

The maximum XDTE drawdown since its inception was -19.09%, smaller than the maximum SMCY drawdown of -64.75%. Use the drawdown chart below to compare losses from any high point for XDTE and SMCY.

Drawdown Indicators

	XDTE	SMCY	Difference
Max Drawdown Largest peak-to-trough decline	-19.09%	-64.75%	+45.66%
Max Drawdown (1Y) Largest decline over 1 year	-7.68%	-57.82%	+50.14%
Current Drawdown Current decline from peak	0.00%	-54.61%	+54.61%
Average Drawdown Average peak-to-trough decline	-2.25%	-38.50%	+36.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	37.88%	-36.07%

Volatility

XDTE vs. SMCY - Volatility Comparison

The current volatility for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) is 3.60%, while YieldMax SMCI Option Income Strategy ETF (SMCY) has a volatility of 24.44%. This indicates that XDTE experiences smaller price fluctuations and is considered to be less risky than SMCY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDTE	SMCY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	24.44%	-20.84%
Volatility (6M) Calculated over the trailing 6-month period	9.33%	71.06%	-61.73%
Volatility (1Y) Calculated over the trailing 1-year period	11.84%	75.60%	-63.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.85%	80.50%	-66.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.85%	80.50%	-66.65%

XDTE vs. SMCY - Expense Ratio Comparison

XDTE has a 0.97% expense ratio, which is lower than SMCY's 1.01% expense ratio.

Dividends

XDTE vs. SMCY - Dividend Comparison

XDTE's dividend yield for the trailing twelve months is around 31.42%, less than SMCY's 171.30% yield.

Position	TTM	2025	2024
SMCY YieldMax SMCI Option Income Strategy ETF	171.30%	231.43%	38.43%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	31.42%	39.16%	20.35%

Frequently Asked Questions

Can I hold both XDTE and SMCY in my portfolio?

XDTE and SMCY have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XDTE or SMCY?

SMCY has higher volatility (24.44%) compared to XDTE (3.60%). In terms of maximum drawdown, XDTE dropped -19.09% vs SMCY's -64.75%.

Which ETF is better, XDTE or SMCY?

On 1-year performance, XDTE leads with 21.42% vs -46.71% for SMCY. On fees, XDTE is cheaper at 0.97% per year. On volatility, XDTE has been the lower-risk option at 3.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDTE or SMCY?

Over the 1-year period, XDTE has performed better with a 21.42% return vs -46.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDTE or SMCY?

XDTE is cheaper with a 0.97% expense ratio, compared with 1.01% for SMCY.

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

SMCY has the higher dividend yield at 171.30%, compared with 31.42% for XDTE.

What is the main difference between XDTE and SMCY?

They also come from different issuers: Roundhill and YieldMax. Their fees differ too: 0.97% for XDTE and 1.01% for SMCY.

Which has better risk-adjusted returns?

XDTE currently has the higher Sharpe Ratio (1.82 vs -0.62), 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.