XPAY vs. ARMW

Last updated Aug 4, 2026

XPAY (Roundhill S&P 500 Target 20 Managed Distribution ETF) and ARMW (Roundhill ARM WeeklyPay ETF) are both Derivative Income funds from Roundhill. Both are actively managed. Their 0.56 correlation means they have sometimes moved together and sometimes differently. XPAY charges 0.49%/yr vs 0.99%/yr for ARMW.

Performance

XPAY vs. ARMW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY) and Roundhill ARM WeeklyPay ETF (ARMW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XPAY achieves a 11.32% return, which is significantly lower than ARMW's 133.71% return.

XPAY

• 1D: 1.33%
• 1M: 1.63%
• 6M: 9.13%
• YTD: 11.32%
• 1Y: 22.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.18%

ARMW

• 1D: -0.53%
• 1M: -28.93%
• 6M: 143.26%
• YTD: 133.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
ARMW Roundhill ARM WeeklyPay ETF	$3.40M	$4.54M	$4.17M
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	$1.77M	$2.52M	$3.75M

XPAY vs. ARMW - Yearly Performance Comparison

	2026 (YTD)	2025
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	11.32%	2.28%
ARMW Roundhill ARM WeeklyPay ETF	133.71%	-41.28%

Correlation

The correlation between XPAY and ARMW is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025	0.56

XPAY vs. ARMW - Sectors Allocation Comparison

Sectors	XPAY	ARMW
Technology	38.5%	18.0%
Financial Services	11.6%	-
Communication Services	9.9%	-
Consumer Cyclical	9.5%	-
Healthcare	8.9%	-
Industrials	8.4%	-
Consumer Defensive	4.5%	-
Energy	3.0%	-
Utilities	2.2%	-
Real Estate	1.8%	-
Basic Materials	1.7%	-

Return for Risk

XPAY vs. ARMW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XPAY

XPAY Risk / Return Rank: 74
XPAY Sharpe Ratio Rank: 76
XPAY Sortino Ratio Rank: 74
XPAY Omega Ratio Rank: 74
XPAY Calmar Ratio Rank: 67
XPAY Martin Ratio Rank: 78

ARMW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

XPAY vs. ARMW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY) and Roundhill ARM WeeklyPay ETF (ARMW). 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.

	XPAY	ARMW	Difference
Sharpe ratio: Return per unit of total volatility	1.77	—	—
Sortino ratio: Return per unit of downside risk	2.44	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.39	—	—
Martin ratio: Return relative to average drawdown	10.17	—	—

Drawdowns

XPAY vs. ARMW - Drawdown Comparison

The maximum XPAY drawdown since its inception was -18.20%, smaller than the maximum ARMW drawdown of -56.50%. Use the drawdown chart below to compare losses from any high point for XPAY and ARMW.

Drawdown Indicators

	XPAY	ARMW	Difference
Max Drawdown Largest peak-to-trough decline	-18.20%	-56.50%	+38.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.34%	—	—
Current Drawdown Current decline from peak	-0.24%	-52.96%	+52.72%
Average Drawdown Average peak-to-trough decline	-2.34%	-27.31%	+24.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	—	—

Volatility

Volatility by Period

	XPAY	ARMW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.01%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.66%	95.78%	-83.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.56%	95.78%	-79.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.56%	95.78%	-79.22%

XPAY vs. ARMW - Expense Ratio Comparison

XPAY has a 0.49% expense ratio, which is lower than ARMW's 0.99% expense ratio.

Dividends

XPAY vs. ARMW - Dividend Comparison

XPAY's dividend yield for the trailing twelve months is around 20.78%, less than ARMW's 66.19% yield.

Position	TTM	2025	2024
ARMW Roundhill ARM WeeklyPay ETF	66.19%	16.38%	0.00%
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	20.78%	21.21%	3.40%

Frequently Asked Questions

Can I hold both XPAY and ARMW in my portfolio?

XPAY and ARMW have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XPAY or ARMW?

On fees, XPAY is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XPAY or ARMW?

XPAY is cheaper with a 0.49% expense ratio, compared with 0.99% for ARMW.

Which ETF pays a higher dividend yield, XPAY or ARMW?

ARMW has the higher dividend yield at 66.19%, compared with 20.78% for XPAY.

What is the main difference between XPAY and ARMW?

Their fees differ too: 0.49% for XPAY and 0.99% for ARMW.