XDTE vs. TOPW
XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) and TOPW (Roundhill Top WeeklyPay ETF) are both Derivative Income funds. XDTE is actively managed, while TOPW is passively managed. A 0.79 correlation means they provide meaningful diversification when combined. XDTE charges 0.97%/yr vs 0.99%/yr for TOPW.
Performance
XDTE vs. TOPW - Performance Comparison
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Returns By Period
In the year-to-date period, XDTE achieves a 6.69% return, which is significantly higher than TOPW's 2.53% return.
XDTE
- 1D
- 0.31%
- 1M
- -0.27%
- YTD
- 6.69%
- 6M
- 6.52%
- 1Y
- 22.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TOPW
- 1D
- 0.08%
- 1M
- -5.06%
- YTD
- 2.53%
- 6M
- -5.80%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XDTE vs. TOPW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF | 6.69% | 6.15% |
TOPW Roundhill Top WeeklyPay ETF | 2.53% | -2.47% |
Correlation
The correlation between XDTE and TOPW is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 5, 2025 | 0.79 |
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Return for Risk
XDTE vs. TOPW — Risk / Return Rank
XDTE
TOPW
XDTE vs. TOPW - 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 Roundhill Top WeeklyPay ETF (TOPW). 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 | TOPW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.37 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | — | — |
| Martin ratioReturn relative to average drawdown | 13.13 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XDTE | TOPW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.16 | 0.00 | +1.16 |
Drawdowns
XDTE vs. TOPW - Drawdown Comparison
The maximum XDTE drawdown since its inception was -19.09%, smaller than the maximum TOPW drawdown of -29.87%. Use the drawdown chart below to compare losses from any high point for XDTE and TOPW.
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Drawdown Indicators
| XDTE | TOPW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.09% | -29.87% | +10.78% |
Max Drawdown (1Y)Largest decline over 1 year | -7.68% | — | — |
Current DrawdownCurrent decline from peak | -2.61% | -14.34% | +11.73% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -12.88% | +10.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | — | — |
Volatility
XDTE vs. TOPW - Volatility Comparison
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Volatility by Period
| XDTE | TOPW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 8.68% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.25% | 27.60% | -16.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.92% | 27.60% | -13.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.92% | 27.60% | -13.68% |
XDTE vs. TOPW - Expense Ratio Comparison
XDTE has a 0.97% expense ratio, which is lower than TOPW's 0.99% expense ratio.
Dividends
XDTE vs. TOPW - Dividend Comparison
XDTE's dividend yield for the trailing twelve months is around 33.68%, less than TOPW's 42.36% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
TOPW Roundhill Top WeeklyPay ETF | 42.36% | 21.52% | 0.00% |
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF | 33.68% | 39.16% | 20.35% |
Frequently Asked Questions
XDTE and TOPW have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XDTE is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XDTE is cheaper with a 0.97% expense ratio, compared with 0.99% for TOPW.
TOPW has the higher dividend yield at 42.36%, compared with 33.68% for XDTE.
They also come from different issuers: Roundhill and Roundhill Investments. Their fees differ too: 0.97% for XDTE and 0.99% for TOPW.
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