YETH vs. BUYW

Last updated Jun 5, 2026

YETH (Roundhill Ether Covered Call Strategy ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. Both are actively managed. Over the past year, YETH returned -31.39% vs 10.30% for BUYW. At a 0.38 correlation, their price movements are largely independent. YETH charges 0.95%/yr vs 1.29%/yr for BUYW.

Performance

YETH vs. BUYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Ether Covered Call Strategy ETF (YETH) and Main Buywrite ETF (BUYW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YETH achieves a -33.84% return, which is significantly lower than BUYW's 3.68% return.

YETH

• 1D: -1.32%
• 1M: -22.71%
• YTD: -33.84%
• 6M: -33.94%
• 1Y: -31.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUYW

• 1D: 0.28%
• 1M: 0.92%
• YTD: 3.68%
• 6M: 4.93%
• 1Y: 10.30%
• 3Y*: 8.75%
• 5Y*: —
• 10Y*: —

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

YETH vs. BUYW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YETH Roundhill Ether Covered Call Strategy ETF	-33.84%	-32.10%	24.84%
BUYW Main Buywrite ETF	3.68%	9.08%	2.84%

Correlation

The correlation between YETH and BUYW is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.38

Return for Risk

YETH vs. BUYW — Risk / Return Rank

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

YETH

YETH Risk / Return Rank: 5
YETH Sharpe Ratio Rank: 4
YETH Sortino Ratio Rank: 5
YETH Omega Ratio Rank: 5
YETH Calmar Ratio Rank: 4
YETH Martin Ratio Rank: 4

BUYW

BUYW Risk / Return Rank: 76
BUYW Sharpe Ratio Rank: 66
BUYW Sortino Ratio Rank: 73
BUYW Omega Ratio Rank: 73
BUYW Calmar Ratio Rank: 79
BUYW Martin Ratio Rank: 91

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.

YETH vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Ether Covered Call Strategy ETF (YETH) and Main Buywrite ETF (BUYW). 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.

	YETH	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	-0.55	2.14	-2.69
Sortino ratio: Return per unit of downside risk	-0.51	3.25	-3.76
Omega ratio: Gain probability vs. loss probability	0.94	1.43	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.57	4.00	-4.56
Martin ratio: Return relative to average drawdown	-1.01	21.37	-22.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YETH vs. BUYW - Sharpe Ratio Comparison

The current YETH Sharpe Ratio is -0.55, which is lower than the BUYW Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of YETH and BUYW, 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

	YETH	BUYW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	2.14	-2.69
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	1.17	-1.69

Drawdowns

YETH vs. BUYW - Drawdown Comparison

The maximum YETH drawdown since its inception was -61.73%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for YETH and BUYW.

Drawdown Indicators

	YETH	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-61.73%	-9.36%	-52.37%
Max Drawdown (1Y) Largest decline over 1 year	-55.63%	-2.59%	-53.04%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Current Drawdown Current decline from peak	-59.58%	0.00%	-59.58%
Average Drawdown Average peak-to-trough decline	-30.99%	-0.61%	-30.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.10%	0.48%	+30.62%

Volatility

YETH vs. BUYW - Volatility Comparison

Roundhill Ether Covered Call Strategy ETF (YETH) has a higher volatility of 9.35% compared to Main Buywrite ETF (BUYW) at 1.00%. This indicates that YETH's price experiences larger fluctuations and is considered to be riskier than BUYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YETH	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.35%	1.00%	+8.35%
Volatility (6M) Calculated over the trailing 6-month period	38.11%	4.03%	+34.08%
Volatility (1Y) Calculated over the trailing 1-year period	56.94%	4.85%	+52.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.37%	8.47%	+46.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.37%	8.47%	+46.90%

YETH vs. BUYW - Expense Ratio Comparison

YETH has a 0.95% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

YETH vs. BUYW - Dividend Comparison

YETH's dividend yield for the trailing twelve months is around 144.02%, more than BUYW's 5.89% yield.

Position	TTM	2025	2024	2023	2022
BUYW Main Buywrite ETF	5.89%	5.89%	5.93%	5.95%	0.50%
YETH Roundhill Ether Covered Call Strategy ETF	144.02%	109.12%	20.52%	0.00%	0.00%

Frequently Asked Questions

Can I hold both YETH and BUYW in my portfolio?

YETH and BUYW have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YETH or BUYW?

YETH has higher volatility (9.35%) compared to BUYW (1.00%). In terms of maximum drawdown, YETH dropped -61.73% vs BUYW's -9.36%.

Which ETF is better, YETH or BUYW?

On 1-year performance, BUYW leads with 10.30% vs -31.39% for YETH. On fees, YETH is cheaper at 0.95% per year. On volatility, BUYW has been the lower-risk option at 1.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YETH or BUYW?

Over the 1-year period, BUYW has performed better with a 10.30% return vs -31.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YETH or BUYW?

YETH is cheaper with a 0.95% expense ratio, compared with 1.29% for BUYW.

Which ETF pays a higher dividend yield, YETH or BUYW?

YETH has the higher dividend yield at 144.02%, compared with 5.89% for BUYW.

What is the main difference between YETH and BUYW?

They also come from different issuers: Roundhill and Main Funds. Their fees differ too: 0.95% for YETH and 1.29% for BUYW.

Which has better risk-adjusted returns?

BUYW currently has the higher Sharpe Ratio (2.14 vs -0.55), 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.