XPAY vs. MAGX

Last updated Jun 25, 2026

XPAY (Roundhill S&P 500 Target 20 Managed Distribution ETF) and MAGX (Roundhill Daily 2X Long Magnificent Seven ETF) are both exchange-traded funds - XPAY is a Derivative Income fund actively managed by Roundhill, while MAGX is a Leveraged Equities fund actively managed by Roundhill. Both are actively managed. Over the past year, XPAY returned 21.40% vs 20.38% for MAGX. Their correlation of 0.82 suggests significant overlap in exposure. XPAY charges 0.49%/yr vs 0.95%/yr for MAGX.

Performance

XPAY vs. MAGX - 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 Daily 2X Long Magnificent Seven ETF (MAGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XPAY achieves a 7.87% return, which is significantly higher than MAGX's -15.34% return.

XPAY

• 1D: -0.36%
• 1M: -1.56%
• YTD: 7.87%
• 6M: 6.66%
• 1Y: 21.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MAGX

• 1D: -1.87%
• 1M: -19.24%
• YTD: -15.34%
• 6M: -18.65%
• 1Y: 20.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XPAY vs. MAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	7.87%	16.78%	1.60%
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	-15.34%	26.16%	19.90%

Correlation

The correlation between XPAY and MAGX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Oct 31, 2024	0.82

The correlation between XPAY and MAGX has been stable across timeframes, ranging from 0.81 to 0.82 - a consistent structural relationship.

XPAY vs. MAGX - Sectors Allocation Comparison

Sectors	XPAY	MAGX
Technology	39.0%	-
Financial Services	11.1%	32.8%
Communication Services	10.6%	-
Consumer Cyclical	9.9%	-
Healthcare	8.3%	-
Industrials	7.8%	-
Consumer Defensive	4.5%	-
Energy	3.1%	-
Utilities	2.1%	-
Real Estate	1.8%	-
Basic Materials	1.7%	-

Return for Risk

XPAY vs. MAGX — Risk / Return Rank

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

XPAY

XPAY Risk / Return Rank: 57
XPAY Sharpe Ratio Rank: 58
XPAY Sortino Ratio Rank: 55
XPAY Omega Ratio Rank: 57
XPAY Calmar Ratio Rank: 52
XPAY Martin Ratio Rank: 63

MAGX

MAGX Risk / Return Rank: 17
MAGX Sharpe Ratio Rank: 17
MAGX Sortino Ratio Rank: 18
MAGX Omega Ratio Rank: 18
MAGX Calmar Ratio Rank: 15
MAGX Martin Ratio Rank: 17

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.

XPAY vs. MAGX - 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 Daily 2X Long Magnificent Seven ETF (MAGX). 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	MAGX	Difference
Sharpe ratio: Return per unit of total volatility	1.74	0.49	+1.25
Sortino ratio: Return per unit of downside risk	2.38	0.92	+1.46
Omega ratio: Gain probability vs. loss probability	1.32	1.11	+0.20
Calmar ratio: Return relative to maximum drawdown	2.30	0.55	+1.75
Martin ratio: Return relative to average drawdown	10.19	1.61	+8.58

XPAY vs. MAGX - Sharpe Ratio Comparison

The current XPAY Sharpe Ratio is 1.74, which is higher than the MAGX Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of XPAY and MAGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XPAY vs. MAGX - Drawdown Comparison

The maximum XPAY drawdown since its inception was -18.20%, smaller than the maximum MAGX drawdown of -54.19%. Use the drawdown chart below to compare losses from any high point for XPAY and MAGX.

Drawdown Indicators

	XPAY	MAGX	Difference
Max Drawdown Largest peak-to-trough decline	-18.20%	-54.19%	+35.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.34%	-37.24%	+27.90%
Current Drawdown Current decline from peak	-3.33%	-22.83%	+19.50%
Average Drawdown Average peak-to-trough decline	-2.37%	-13.80%	+11.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	12.67%	-10.57%

Volatility

XPAY vs. MAGX - Volatility Comparison

The current volatility for Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY) is 4.75%, while Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) has a volatility of 15.34%. This indicates that XPAY experiences smaller price fluctuations and is considered to be less risky than MAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XPAY	MAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	15.34%	-10.59%
Volatility (6M) Calculated over the trailing 6-month period	9.67%	31.76%	-22.09%
Volatility (1Y) Calculated over the trailing 1-year period	12.37%	41.65%	-29.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.82%	53.73%	-36.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.82%	53.73%	-36.91%

XPAY vs. MAGX - Expense Ratio Comparison

XPAY has a 0.49% expense ratio, which is lower than MAGX's 0.95% expense ratio.

Dividends

XPAY vs. MAGX - Dividend Comparison

XPAY's dividend yield for the trailing twelve months is around 21.18%, more than MAGX's 2.42% yield.

Position	TTM	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	2.42%	2.05%	0.86%
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	21.18%	21.21%	3.40%

Frequently Asked Questions

Can I hold both XPAY and MAGX in my portfolio?

XPAY and MAGX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XPAY or MAGX?

MAGX has higher volatility (15.34%) compared to XPAY (4.75%). In terms of maximum drawdown, XPAY dropped -18.20% vs MAGX's -54.19%.

Which ETF is better, XPAY or MAGX?

On 1-year performance, XPAY leads with 21.40% vs 20.38% for MAGX. On fees, XPAY is cheaper at 0.49% per year. On volatility, XPAY has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XPAY or MAGX?

Over the 1-year period, XPAY has performed better with a 21.40% return vs 20.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XPAY or MAGX?

XPAY is cheaper with a 0.49% expense ratio, compared with 0.95% for MAGX.

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

XPAY has the higher dividend yield at 21.18%, compared with 2.42% for MAGX.

What is the main difference between XPAY and MAGX?

XPAY is categorized as Derivative Income, while MAGX is Leveraged Equities. Their fees differ too: 0.49% for XPAY and 0.95% for MAGX.

Which has better risk-adjusted returns?

XPAY currently has the higher Sharpe Ratio (1.74 vs 0.49), 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.