XPAY vs. ECAT
XPAY (Roundhill S&P 500 Target 20 Managed Distribution ETF) and ECAT (BlackRock ESG Capital Allocation Term Trust) are both Derivative Income funds. Over the past year, XPAY returned 24.99% vs 19.89% for ECAT. A 0.72 correlation means they provide meaningful diversification when combined. XPAY charges 0.49%/yr vs 1.38%/yr for ECAT.
Performance
XPAY vs. ECAT - Performance Comparison
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Returns By Period
In the year-to-date period, XPAY achieves a 8.67% return, which is significantly lower than ECAT's 10.66% return.
XPAY
- 1D
- 0.27%
- 1M
- 0.28%
- YTD
- 8.67%
- 6M
- 8.87%
- 1Y
- 24.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ECAT
- 1D
- 2.30%
- 1M
- 3.12%
- YTD
- 10.66%
- 6M
- 10.05%
- 1Y
- 19.89%
- 3Y*
- 18.39%
- 5Y*
- —
- 10Y*
- —
XPAY vs. ECAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF | 8.67% | 16.78% | 1.60% |
ECAT BlackRock ESG Capital Allocation Term Trust | 10.66% | 16.64% | -2.05% |
Correlation
The correlation between XPAY and ECAT is 0.70, 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 | 0.70 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2024 | 0.72 |
The correlation between XPAY and ECAT has been stable across timeframes, ranging from 0.70 to 0.72 - a consistent structural relationship.
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Return for Risk
XPAY vs. ECAT — Risk / Return Rank
XPAY
ECAT
XPAY vs. ECAT - 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 BlackRock ESG Capital Allocation Term Trust (ECAT). 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 | ECAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.24 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 1.56 | +0.95 |
| Martin ratioReturn relative to average drawdown | 11.28 | 5.79 | +5.49 |
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Drawdowns
XPAY vs. ECAT - Drawdown Comparison
The maximum XPAY drawdown since its inception was -18.20%, smaller than the maximum ECAT drawdown of -32.23%. Use the drawdown chart below to compare losses from any high point for XPAY and ECAT.
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Drawdown Indicators
| XPAY | ECAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.20% | -32.23% | +14.03% |
Max Drawdown (1Y)Largest decline over 1 year | -9.34% | -11.80% | +2.46% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.79% | — |
Current DrawdownCurrent decline from peak | -2.61% | -1.71% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -9.07% | +6.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 3.18% | -1.10% |
Volatility
XPAY vs. ECAT - Volatility Comparison
Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY) and BlackRock ESG Capital Allocation Term Trust (ECAT) have volatilities of 4.24% and 4.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XPAY | ECAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 4.46% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 9.46% | 10.92% | -1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.25% | 13.77% | -1.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.81% | 16.91% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.81% | 16.91% | -0.10% |
XPAY vs. ECAT - Expense Ratio Comparison
XPAY has a 0.49% expense ratio, which is lower than ECAT's 1.38% expense ratio.
Dividends
XPAY vs. ECAT - Dividend Comparison
XPAY's dividend yield for the trailing twelve months is around 21.03%, less than ECAT's 21.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ECAT BlackRock ESG Capital Allocation Term Trust | 19.91% | 23.00% | 17.44% | 9.14% | 8.94% | 0.54% |
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF | 21.03% | 21.21% | 3.40% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XPAY and ECAT have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ECAT has higher volatility (4.46%) compared to XPAY (4.24%). In terms of maximum drawdown, XPAY dropped -18.20% vs ECAT's -32.23%.
XPAY currently has the higher Sharpe Ratio (1.91 vs 1.33), 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.
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