XPAY vs. NVDW

Last updated Jun 4, 2026

XPAY (Roundhill S&P 500 Target 20 Managed Distribution ETF) and NVDW (Roundhill ETF Trust Roundhill NVDA WeeklyPay ETF) are both Derivative Income funds from Roundhill. Both are actively managed. Over the past year, XPAY returned 27.22% vs 56.88% for NVDW. A 0.56 correlation means they provide meaningful diversification when combined. XPAY charges 0.49%/yr vs 0.99%/yr for NVDW.

Performance

XPAY vs. NVDW - 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 ETF Trust Roundhill NVDA WeeklyPay ETF (NVDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XPAY achieves a 10.83% return, which is significantly lower than NVDW's 15.96% return.

XPAY

• 1D: -0.68%
• 1M: 5.07%
• YTD: 10.83%
• 6M: 10.69%
• 1Y: 27.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDW

• 1D: -4.20%
• 1M: 9.65%
• YTD: 15.96%
• 6M: 20.80%
• 1Y: 56.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XPAY vs. NVDW - Yearly Performance Comparison

	2026 (YTD)	2025
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	10.83%	15.30%
NVDW Roundhill ETF Trust Roundhill NVDA WeeklyPay ETF	15.96%	40.00%

Correlation

The correlation between XPAY and NVDW is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Jun 3, 2025	0.56

The correlation between XPAY and NVDW has been stable across timeframes, ranging from 0.56 to 0.56 - a consistent structural relationship.

Return for Risk

XPAY vs. NVDW — Risk / Return Rank

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

XPAY

XPAY Risk / Return Rank: 67
XPAY Sharpe Ratio Rank: 69
XPAY Sortino Ratio Rank: 67
XPAY Omega Ratio Rank: 68
XPAY Calmar Ratio Rank: 58
XPAY Martin Ratio Rank: 71

NVDW

NVDW Risk / Return Rank: 38
NVDW Sharpe Ratio Rank: 38
NVDW Sortino Ratio Rank: 38
NVDW Omega Ratio Rank: 35
NVDW Calmar Ratio Rank: 45
NVDW Martin Ratio Rank: 35

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. NVDW - 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 ETF Trust Roundhill NVDA WeeklyPay ETF (NVDW). 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.

	XPAY	NVDW	Difference
Sharpe ratio: Return per unit of total volatility	2.31	1.39	+0.92
Sortino ratio: Return per unit of downside risk	3.15	1.99	+1.16
Omega ratio: Gain probability vs. loss probability	1.42	1.24	+0.18
Calmar ratio: Return relative to maximum drawdown	2.93	2.24	+0.69
Martin ratio: Return relative to average drawdown	13.50	5.44	+8.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XPAY vs. NVDW - Sharpe Ratio Comparison

The current XPAY Sharpe Ratio is 2.31, which is higher than the NVDW Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of XPAY and NVDW, 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

	XPAY	NVDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	1.39	+0.92
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	1.52	-0.31

Drawdowns

XPAY vs. NVDW - Drawdown Comparison

The maximum XPAY drawdown since its inception was -18.20%, smaller than the maximum NVDW drawdown of -25.54%. Use the drawdown chart below to compare losses from any high point for XPAY and NVDW.

Drawdown Indicators

	XPAY	NVDW	Difference
Max Drawdown Largest peak-to-trough decline	-18.20%	-25.54%	+7.34%
Max Drawdown (1Y) Largest decline over 1 year	-9.34%	-25.54%	+16.20%
Current Drawdown Current decline from peak	-0.68%	-10.65%	+9.97%
Average Drawdown Average peak-to-trough decline	-2.37%	-8.19%	+5.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	10.49%	-8.47%

Volatility

XPAY vs. NVDW - Volatility Comparison

The current volatility for Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY) is 2.76%, while Roundhill ETF Trust Roundhill NVDA WeeklyPay ETF (NVDW) has a volatility of 15.04%. This indicates that XPAY experiences smaller price fluctuations and is considered to be less risky than NVDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XPAY	NVDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.76%	15.04%	-12.28%
Volatility (6M) Calculated over the trailing 6-month period	8.82%	30.74%	-21.92%
Volatility (1Y) Calculated over the trailing 1-year period	11.82%	41.15%	-29.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.70%	41.15%	-24.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.70%	41.15%	-24.45%

XPAY vs. NVDW - Expense Ratio Comparison

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

Dividends

XPAY vs. NVDW - Dividend Comparison

XPAY's dividend yield for the trailing twelve months is around 20.37%, less than NVDW's 58.16% yield.

Position	TTM	2025	2024
NVDW Roundhill ETF Trust Roundhill NVDA WeeklyPay ETF	58.16%	38.94%	0.00%
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	20.37%	21.21%	3.40%

Frequently Asked Questions

Can I hold both XPAY and NVDW in my portfolio?

XPAY and NVDW 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 is riskier, XPAY or NVDW?

NVDW has higher volatility (15.04%) compared to XPAY (2.76%). In terms of maximum drawdown, XPAY dropped -18.20% vs NVDW's -25.54%.

Which ETF is better, XPAY or NVDW?

On 1-year performance, NVDW leads with 56.88% vs 27.22% for XPAY. On fees, XPAY is cheaper at 0.49% per year. On volatility, XPAY has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XPAY or NVDW?

Over the 1-year period, NVDW has performed better with a 56.88% return vs 27.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XPAY or NVDW?

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

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

NVDW has the higher dividend yield at 58.16%, compared with 20.37% for XPAY.

What is the main difference between XPAY and NVDW?

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

Which has better risk-adjusted returns?

XPAY currently has the higher Sharpe Ratio (2.31 vs 1.39), 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.