XDTE vs. USHY

Last updated Jun 9, 2026

XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both exchange-traded funds - XDTE is a Derivative Income fund actively managed by Roundhill, while USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index. XDTE is actively managed, while USHY is passively managed. Over the past year, XDTE returned 22.20% vs 6.84% for USHY. A 0.66 correlation means they provide meaningful diversification when combined. XDTE charges 0.97%/yr vs 0.15%/yr for USHY.

Performance

XDTE vs. USHY - 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 iShares Broad USD High Yield Corporate Bond ETF (USHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDTE achieves a 6.69% return, which is significantly higher than USHY's 1.29% return.

XDTE

• 1D: 0.31%
• 1M: -0.27%
• YTD: 6.69%
• 6M: 6.52%
• 1Y: 22.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USHY

• 1D: 0.08%
• 1M: -0.14%
• YTD: 1.29%
• 6M: 1.85%
• 1Y: 6.84%
• 3Y*: 8.79%
• 5Y*: 4.16%
• 10Y*: —

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

XDTE vs. USHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	6.69%	12.60%	17.12%
USHY iShares Broad USD High Yield Corporate Bond ETF	1.29%	8.81%	7.22%

Correlation

The correlation between XDTE and USHY is 0.73, 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	0.73
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.66

The correlation between XDTE and USHY has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.

XDTE vs. USHY - Sectors Allocation Comparison

Sectors	XDTE	USHY
Technology	35.6%	-
Financial Services	11.8%	-
Communication Services	11.2%	-
Consumer Cyclical	10.1%	-
Healthcare	8.5%	-
Industrials	8.3%	-
Consumer Defensive	4.9%	-
Energy	3.5%	99.2%
Utilities	2.4%	-
Real Estate	1.9%	0.8%
Basic Materials	1.8%	-

Return for Risk

XDTE vs. USHY — Risk / Return Rank

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

XDTE

XDTE Risk / Return Rank: 68
XDTE Sharpe Ratio Rank: 67
XDTE Sortino Ratio Rank: 63
XDTE Omega Ratio Rank: 68
XDTE Calmar Ratio Rank: 64
XDTE Martin Ratio Rank: 76

USHY

USHY Risk / Return Rank: 67
USHY Sharpe Ratio Rank: 62
USHY Sortino Ratio Rank: 69
USHY Omega Ratio Rank: 67
USHY Calmar Ratio Rank: 63
USHY Martin Ratio Rank: 74

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. USHY - 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 iShares Broad USD High Yield Corporate Bond ETF (USHY). 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	USHY	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.88	+0.11
Sortino ratio: Return per unit of downside risk	2.64	2.81	-0.17
Omega ratio: Gain probability vs. loss probability	1.37	1.36	0.00
Calmar ratio: Return relative to maximum drawdown	2.90	2.83	+0.07
Martin ratio: Return relative to average drawdown	13.13	12.68	+0.45
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. USHY - Sharpe Ratio Comparison

The current XDTE Sharpe Ratio is 1.99, which is comparable to the USHY Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of XDTE and USHY, 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	USHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	1.88	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	0.58	+0.59

Drawdowns

XDTE vs. USHY - Drawdown Comparison

The maximum XDTE drawdown since its inception was -19.09%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for XDTE and USHY.

Drawdown Indicators

	XDTE	USHY	Difference
Max Drawdown Largest peak-to-trough decline	-19.09%	-22.44%	+3.35%
Max Drawdown (1Y) Largest decline over 1 year	-7.68%	-2.43%	-5.25%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.56%	—
Current Drawdown Current decline from peak	-2.61%	-0.41%	-2.20%
Average Drawdown Average peak-to-trough decline	-2.31%	-2.66%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	0.54%	+1.15%

Volatility

XDTE vs. USHY - Volatility Comparison

Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) has a higher volatility of 3.50% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.13%. This indicates that XDTE's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDTE	USHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	1.13%	+2.37%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	2.95%	+5.73%
Volatility (1Y) Calculated over the trailing 1-year period	11.25%	3.67%	+7.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	7.34%	+6.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.92%	8.25%	+5.67%

XDTE vs. USHY - Expense Ratio Comparison

XDTE has a 0.97% expense ratio, which is higher than USHY's 0.15% expense ratio.

Dividends

XDTE vs. USHY - Dividend Comparison

XDTE's dividend yield for the trailing twelve months is around 33.68%, more than USHY's 6.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
USHY iShares Broad USD High Yield Corporate Bond ETF	6.93%	6.79%	6.89%	6.63%	6.08%	5.07%	5.30%	5.92%	6.30%	0.73%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.68%	39.16%	20.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XDTE and USHY in my portfolio?

XDTE and USHY have a correlation of 0.73, 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 USHY?

XDTE has higher volatility (3.50%) compared to USHY (1.13%). In terms of maximum drawdown, XDTE dropped -19.09% vs USHY's -22.44%.

Which ETF is better, XDTE or USHY?

On 1-year performance, XDTE leads with 22.20% vs 6.84% for USHY. On fees, USHY is cheaper at 0.15% per year. On volatility, USHY has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDTE or USHY?

Over the 1-year period, XDTE has performed better with a 22.20% return vs 6.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDTE or USHY?

USHY is cheaper with a 0.15% expense ratio, compared with 0.97% for XDTE.

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

XDTE has the higher dividend yield at 33.68%, compared with 6.93% for USHY.

What is the main difference between XDTE and USHY?

XDTE is categorized as Derivative Income, while USHY is High Yield Bonds. They also come from different issuers: Roundhill and iShares. Their fees differ too: 0.97% for XDTE and 0.15% for USHY.

Which has better risk-adjusted returns?

XDTE currently has the higher Sharpe Ratio (1.99 vs 1.88), 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.