YETH vs. IWMY

Last updated Jun 9, 2026

YETH (Roundhill Ether Covered Call Strategy ETF) and IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) are both exchange-traded funds - YETH is a Derivative Income fund actively managed by Roundhill, while IWMY is a Options Trading fund tracking the Russell 2000 Index. YETH is actively managed, while IWMY is passively managed. Over the past year, YETH returned -32.39% vs 19.66% for IWMY. At a 0.46 correlation, their price movements are largely independent. YETH charges 0.95%/yr vs 0.99%/yr for IWMY.

Performance

YETH vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Ether Covered Call Strategy ETF (YETH) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YETH achieves a -37.76% return, which is significantly lower than IWMY's 10.55% return.

YETH

• 1D: 6.84%
• 1M: -26.20%
• YTD: -37.76%
• 6M: -37.20%
• 1Y: -32.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: 0.63%
• 1M: -0.57%
• YTD: 10.55%
• 6M: 8.47%
• 1Y: 19.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YETH vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YETH Roundhill Ether Covered Call Strategy ETF	-37.76%	-32.10%	24.84%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	10.55%	10.18%	1.84%

Correlation

The correlation between YETH and IWMY is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.46

Return for Risk

YETH vs. IWMY — 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: 5
YETH Sortino Ratio Rank: 5
YETH Omega Ratio Rank: 5
YETH Calmar Ratio Rank: 5
YETH Martin Ratio Rank: 5

IWMY

IWMY Risk / Return Rank: 37
IWMY Sharpe Ratio Rank: 38
IWMY Sortino Ratio Rank: 34
IWMY Omega Ratio Rank: 35
IWMY Calmar Ratio Rank: 38
IWMY Martin Ratio Rank: 39

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. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Ether Covered Call Strategy ETF (YETH) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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	IWMY	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	1.23	-1.78
Sortino ratio: Return per unit of downside risk	-0.51	1.67	-2.18
Omega ratio: Gain probability vs. loss probability	0.94	1.21	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.55	1.71	-2.26
Martin ratio: Return relative to average drawdown	-1.03	5.59	-6.62
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. IWMY - Sharpe Ratio Comparison

The current YETH Sharpe Ratio is -0.56, which is lower than the IWMY Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of YETH and IWMY, 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	IWMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.56	1.23	-1.78
Sharpe Ratio (All Time) Calculated using the full available price history	-0.55	0.90	-1.44

Drawdowns

YETH vs. IWMY - Drawdown Comparison

The maximum YETH drawdown since its inception was -64.41%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for YETH and IWMY.

Drawdown Indicators

	YETH	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-64.41%	-18.72%	-45.69%
Max Drawdown (1Y) Largest decline over 1 year	-58.73%	-11.57%	-47.16%
Current Drawdown Current decline from peak	-61.97%	-2.89%	-59.08%
Average Drawdown Average peak-to-trough decline	-31.13%	-2.98%	-28.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.51%	3.53%	+27.98%

Volatility

YETH vs. IWMY - Volatility Comparison

Roundhill Ether Covered Call Strategy ETF (YETH) has a higher volatility of 17.00% compared to Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) at 6.26%. This indicates that YETH's price experiences larger fluctuations and is considered to be riskier than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YETH	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.00%	6.26%	+10.74%
Volatility (6M) Calculated over the trailing 6-month period	40.48%	13.20%	+27.28%
Volatility (1Y) Calculated over the trailing 1-year period	58.59%	16.15%	+42.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.22%	15.90%	+40.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.22%	15.90%	+40.32%

YETH vs. IWMY - Expense Ratio Comparison

YETH has a 0.95% expense ratio, which is lower than IWMY's 0.99% expense ratio.

Dividends

YETH vs. IWMY - Dividend Comparison

YETH's dividend yield for the trailing twelve months is around 153.07%, more than IWMY's 46.29% yield.

Position	TTM	2025	2024	2023
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	46.29%	63.33%	107.92%	11.34%
YETH Roundhill Ether Covered Call Strategy ETF	153.07%	109.12%	20.52%	0.00%

Frequently Asked Questions

Can I hold both YETH and IWMY in my portfolio?

YETH and IWMY have a correlation of 0.44, 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 IWMY?

YETH has higher volatility (17.00%) compared to IWMY (6.26%). In terms of maximum drawdown, YETH dropped -64.41% vs IWMY's -18.72%.

Which ETF is better, YETH or IWMY?

On 1-year performance, IWMY leads with 19.66% vs -32.39% for YETH. On fees, YETH is cheaper at 0.95% per year. On volatility, IWMY has been the lower-risk option at 6.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YETH or IWMY?

Over the 1-year period, IWMY has performed better with a 19.66% return vs -32.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YETH or IWMY?

YETH is cheaper with a 0.95% expense ratio, compared with 0.99% for IWMY.

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

YETH has the higher dividend yield at 153.07%, compared with 46.29% for IWMY.

What is the main difference between YETH and IWMY?

YETH is categorized as Derivative Income, while IWMY is Options Trading. They also come from different issuers: Roundhill and Defiance. Their fees differ too: 0.95% for YETH and 0.99% for IWMY.

Which has better risk-adjusted returns?

IWMY currently has the higher Sharpe Ratio (1.23 vs -0.56), 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.