Data as of Nov 4, 2026.
XDTE vs XPAY: Dividend Yield & Total Return
Over the year to Nov 4, 2026, XDTE paid 25.5% of its price in cash against XPAY’s 19.7%, and returned more with it reinvested.
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Net assets on Nov 4, 2026: $321m for Roundhill S&P 500 0DTE Covered Call Strategy ETF and $187m for Roundhill S&P 500 Target 20 Managed Distribution ETF.
About even with SPY
XDTE over 1 year: paid 25.5%, price −13.2%, total +14.6%, SPY +14.8%, −0.2 pts. Data to Nov 4, 2026.
SPY
+14.8%
XDTE
+14.6%
25.5% of it arrived as cash
about even with SPY
Total return, distributions reinvested
About even with SPY
XDTE over 1 year: paid 25.5%, price −13.2%, total +14.6%, SPY +14.8%, −0.2 pts. Data to Nov 4, 2026.
SPY
+14.8%
XDTE
+14.6%
25.5% as cash
about even with SPY
25.5% of it arrived as cash. Total return, distributions reinvested. XDTE over 1 year: paid 25.5%, price −13.2%, total +14.6%, SPY +14.8%, −0.2 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.0.8 pts behind VOO
XPAY over 1 year: paid 19.7%, price −7.2%, total +14.0%, VOO +14.8%, −0.8 pts. Data to Nov 4, 2026.
VOO
+14.8%
XPAY
+14.0%
19.7% of it arrived as cash
0.8 pts behind VOO
Total return, distributions reinvested
0.8 pts behind VOO
XPAY over 1 year: paid 19.7%, price −7.2%, total +14.0%, VOO +14.8%, −0.8 pts. Data to Nov 4, 2026.
VOO
+14.8%
XPAY
+14.0%
19.7% as cash
0.8 pts behind VOO
19.7% of it arrived as cash. Both charts share one scale, with zero at the line. XPAY over 1 year: paid 19.7%, price −7.2%, total +14.0%, VOO +14.8%, −0.8 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
XPAY costs 0.48 points a year less; their one-year returns differ by 0.6 points; XDTE is 1.7 times larger.
Points (pts) are percentage points.
| Measure | XDTE | XPAY |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +14.6% | +14.0% |
| Price change, 1 year | fell 13.2% | fell 7.2% |
| Return of capital, issuer estimate | 100% of the Oct 30, 2026 payment | 100% of the Oct 15, 2026 payment |
| Against its benchmark | ||
| Benchmark | S&P 500, measured through SPY | Vanguard S&P 500 ETF, measured through VOO |
| Cost and size | ||
| Expense ratio | 0.97% | 0.49% |
| Net assets | $321m | $187m |
| Holdings | ||
| Holdings in common | 0% | |
How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed
One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →
Risk and return
Nov 8, 2024 to Oct 30, 2026 · 103 weekly returnsEach against its own benchmark: XDTE against SPY, Mar 15, 2024 to Oct 30, 2026; XPAY against VOO, Nov 8, 2024 to Oct 30, 2026.
From Nov 2024 to Oct 2026, XPAY returned more: +27.3% to +21.9%. XDTE swung slightly less: 13.4% to 14.9%. XDTE fell slightly less at its worst: −16.7% to −17.1%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | XDTE | XPAY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +21.9% | +27.3% | XPAY | Price change plus distributions, reinvested. |
| Annualized | +10.5% | +12.9% | XPAY | Total return as a yearly rate. |
| Price return | −30.2% | −14.6% | XPAY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 13.4% | 14.9% | XDTE (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 9.8% | 9.9% | Tie | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −16.7% | −17.1% | XDTE (slight) | Deepest fall from a high to the low after it. |
| Upside capture | 83.4% | 99.7% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 91.0% | 101.5% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.87 | 1.01 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.92 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.51 | 0.62 | XPAY | Return above Treasury bills per unit of volatility. |
| Sortino | 0.70 | 0.93 | XPAY | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.127 | 0.091 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.63 | 0.76 | XPAY | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SPY | VOO | The ETF each fund is measured against. | |
| Alpha | −0.1% a year | −0.9% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.05 | −1.35 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −4.8% to +4.6% | −2.3% to +0.4% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.43 | −0.82 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 4.3% | 1.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 103 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, XDTE and XPAY hold 0% of their money in the same securities at the same weight. Holdings dated Nov 4, 2026.
half
0% in common
Only in one fund ↓
Side by side
As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.
Window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | XDTE | XPAY | XDTE | XPAY | XDTE | XPAY |
| 3 months | +1.0% | −0.3% | 4.2% | 5.0% | +1.2 pts | −0.2 pts |
| 6 months | +5.5% | +4.9% | 9.3% | 10.0% | +0.5 pts | −0.1 pts |
| 1 year | +14.6% | +14.0% | 25.5% | 19.7% | −0.2 pts | −0.9 pts |
| Since launchNot the same days: XDTE Mar 2024 · XPAY Oct 2024 | +47.4% | +35.6% | 60.8% | 39.0% | −6.4 pts | −2.6 pts |
Client brief:
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XDTE
Over the year to Nov 4, 2026, XDTE paid 25.5% of its starting value in cash distributions while its price fell 13.2%. With every distribution reinvested, the fund returned +14.6%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was about even. At its price on Nov 4, 2026 the latest distribution annualizes to 12.4%, paid weekly. Roundhill estimates that 100% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
XPAY
Over the year to Nov 4, 2026, XPAY paid 19.7% of its starting value in cash distributions while its price fell 7.2%. With every distribution reinvested, the fund returned +14.0%. Vanguard S&P 500 ETF (VOO) returned +14.8% over the same days, so a holder was behind by 0.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 21.1%, paid monthly. Roundhill estimates that 100% of the distribution paid Oct 15, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, XDTE against XPAY, data as of Nov 4, 2026. https://etfiq.com/compare/income/xdte-vs-xpay
ETFIQ. (Nov 4, 2026). XDTE against XPAY. Retrieved from https://etfiq.com/compare/income/xdte-vs-xpay
[XDTE against XPAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/xdte-vs-xpay)
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