XDTE vs. TSMY

Last updated Jun 4, 2026

XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) and TSMY (YieldMax TSM Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, XDTE returned 25.68% vs 92.13% for TSMY. A 0.61 correlation means they provide meaningful diversification when combined. XDTE charges 0.97%/yr vs 0.99%/yr for TSMY.

Performance

XDTE vs. TSMY - 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 TSM Option Income Strategy ETF (TSMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDTE achieves a 8.83% return, which is significantly lower than TSMY's 37.04% return.

XDTE

• 1D: -0.66%
• 1M: 4.14%
• YTD: 8.83%
• 6M: 8.93%
• 1Y: 25.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMY

• 1D: -1.37%
• 1M: 7.48%
• YTD: 37.04%
• 6M: 39.21%
• 1Y: 92.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XDTE vs. TSMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	8.83%	12.60%	5.49%
TSMY YieldMax TSM Option Income Strategy ETF	37.04%	41.00%	8.15%

Correlation

The correlation between XDTE and TSMY is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024	0.61

The correlation between XDTE and TSMY has been stable across timeframes, ranging from 0.59 to 0.61 - a consistent structural relationship.

Return for Risk

XDTE vs. TSMY — Risk / Return Rank

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

XDTE

XDTE Risk / Return Rank: 70
XDTE Sharpe Ratio Rank: 70
XDTE Sortino Ratio Rank: 67
XDTE Omega Ratio Rank: 70
XDTE Calmar Ratio Rank: 66
XDTE Martin Ratio Rank: 78

TSMY

TSMY Risk / Return Rank: 88
TSMY Sharpe Ratio Rank: 90
TSMY Sortino Ratio Rank: 85
TSMY Omega Ratio Rank: 82
TSMY Calmar Ratio Rank: 91
TSMY Martin Ratio Rank: 91

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. TSMY - 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 TSM Option Income Strategy ETF (TSMY). 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	TSMY	Difference
Sharpe ratio: Return per unit of total volatility	2.35	3.21	-0.86
Sortino ratio: Return per unit of downside risk	3.15	3.86	-0.71
Omega ratio: Gain probability vs. loss probability	1.43	1.50	-0.07
Calmar ratio: Return relative to maximum drawdown	3.36	5.98	-2.62
Martin ratio: Return relative to average drawdown	15.35	22.18	-6.82
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. TSMY - Sharpe Ratio Comparison

The current XDTE Sharpe Ratio is 2.35, which is comparable to the TSMY Sharpe Ratio of 3.21. The chart below compares the historical Sharpe Ratios of XDTE and TSMY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XDTE	TSMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	3.21	-0.86
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	1.56	-0.31

Drawdowns

XDTE vs. TSMY - Drawdown Comparison

The maximum XDTE drawdown since its inception was -19.09%, smaller than the maximum TSMY drawdown of -31.15%. Use the drawdown chart below to compare losses from any high point for XDTE and TSMY.

Drawdown Indicators

	XDTE	TSMY	Difference
Max Drawdown Largest peak-to-trough decline	-19.09%	-31.15%	+12.06%
Max Drawdown (1Y) Largest decline over 1 year	-7.68%	-15.50%	+7.82%
Current Drawdown Current decline from peak	-0.66%	-1.37%	+0.71%
Average Drawdown Average peak-to-trough decline	-2.32%	-5.51%	+3.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	4.17%	-2.49%

Volatility

XDTE vs. TSMY - Volatility Comparison

The current volatility for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) is 2.53%, while YieldMax TSM Option Income Strategy ETF (TSMY) has a volatility of 9.52%. This indicates that XDTE experiences smaller price fluctuations and is considered to be less risky than TSMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDTE	TSMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	9.52%	-6.99%
Volatility (6M) Calculated over the trailing 6-month period	8.28%	22.68%	-14.40%
Volatility (1Y) Calculated over the trailing 1-year period	10.99%	28.87%	-17.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.85%	33.22%	-19.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.85%	33.22%	-19.37%

XDTE vs. TSMY - Expense Ratio Comparison

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

Dividends

XDTE vs. TSMY - Dividend Comparison

XDTE's dividend yield for the trailing twelve months is around 33.00%, less than TSMY's 52.19% yield.

Position	TTM	2025	2024
TSMY YieldMax TSM Option Income Strategy ETF	52.19%	56.76%	13.71%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.00%	39.16%	20.35%

Frequently Asked Questions

Can I hold both XDTE and TSMY in my portfolio?

XDTE and TSMY have a correlation of 0.59, 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 TSMY?

TSMY has higher volatility (9.52%) compared to XDTE (2.53%). In terms of maximum drawdown, XDTE dropped -19.09% vs TSMY's -31.15%.

Which ETF is better, XDTE or TSMY?

On 1-year performance, TSMY leads with 92.13% vs 25.68% for XDTE. On fees, XDTE is cheaper at 0.97% per year. On volatility, XDTE has been the lower-risk option at 2.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDTE or TSMY?

Over the 1-year period, TSMY has performed better with a 92.13% return vs 25.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDTE or TSMY?

XDTE is cheaper with a 0.97% expense ratio, compared with 0.99% for TSMY.

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

TSMY has the higher dividend yield at 52.19%, compared with 33.00% for XDTE.

What is the main difference between XDTE and TSMY?

They also come from different issuers: Roundhill and YieldMax. Their fees differ too: 0.97% for XDTE and 0.99% for TSMY.

Which has better risk-adjusted returns?

TSMY currently has the higher Sharpe Ratio (3.21 vs 2.35), 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.