XSPI vs. ARMW

Last updated Jun 4, 2026

XSPI (NEOS Boosted S&P 500 High Income ETF) and ARMW (Roundhill ARM WeeklyPay ETF) are both Derivative Income funds. XSPI is passively managed, while ARMW is actively managed. A 0.58 correlation means they provide meaningful diversification when combined. XSPI charges 0.98%/yr vs 0.99%/yr for ARMW.

Performance

XSPI vs. ARMW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Boosted S&P 500 High Income ETF (XSPI) and Roundhill ARM WeeklyPay ETF (ARMW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XSPI

• 1D: -0.89%
• 1M: 5.09%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARMW

• 1D: 3.44%
• 1M: 128.75%
• YTD: 363.23%
• 6M: 245.13%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XSPI vs. ARMW - Yearly Performance Comparison

	2026 (YTD)
XSPI NEOS Boosted S&P 500 High Income ETF	8.22%
ARMW Roundhill ARM WeeklyPay ETF	392.48%

Correlation

The correlation between XSPI and ARMW is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 4, 2026	0.58

Return for Risk

XSPI vs. ARMW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Boosted S&P 500 High Income ETF (XSPI) 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.

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

Sharpe Ratios by Period

	XSPI	ARMW	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.55	4.96	-3.41

Drawdowns

XSPI vs. ARMW - Drawdown Comparison

The maximum XSPI drawdown since its inception was -11.59%, smaller than the maximum ARMW drawdown of -48.47%. Use the drawdown chart below to compare losses from any high point for XSPI and ARMW.

Drawdown Indicators

	XSPI	ARMW	Difference
Max Drawdown Largest peak-to-trough decline	-11.59%	-48.47%	+36.88%
Current Drawdown Current decline from peak	-0.89%	0.00%	-0.89%
Average Drawdown Average peak-to-trough decline	-2.23%	-26.55%	+24.32%

Volatility

Volatility by Period

	XSPI	ARMW	Difference
Volatility (1Y) Calculated over the trailing 1-year period	17.64%	88.46%	-70.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	88.46%	-70.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	88.46%	-70.82%

XSPI vs. ARMW - Expense Ratio Comparison

XSPI has a 0.98% expense ratio, which is lower than ARMW's 0.99% expense ratio.

Dividends

XSPI vs. ARMW - Dividend Comparison

XSPI's dividend yield for the trailing twelve months is around 6.83%, less than ARMW's 15.20% yield.

Position	TTM	2025
ARMW Roundhill ARM WeeklyPay ETF	15.20%	16.38%
XSPI NEOS Boosted S&P 500 High Income ETF	6.83%	0.00%

Frequently Asked Questions

Can I hold both XSPI and ARMW in my portfolio?

XSPI and ARMW have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XSPI or ARMW?

On fees, XSPI is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XSPI or ARMW?

XSPI is cheaper with a 0.98% expense ratio, compared with 0.99% for ARMW.

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

ARMW has the higher dividend yield at 15.20%, compared with 6.83% for XSPI.

What is the main difference between XSPI and ARMW?

They also come from different issuers: NEOS Investments and Roundhill Investments. Their fees differ too: 0.98% for XSPI and 0.99% for ARMW.