IWMW vs RDTE: Grades, Fees and Holdings Compared

iShares Russell 2000 BuyWrite ETF

IWMWACboe

Roundhill Russell 2000 0DTE Covered Call Strategy ETF

RDTECCboe

Overlap

0.0%by weight

Expense ratio

IWMW −0.58pt a year

IWMW0.39%RDTE0.97%

Avg volume · 30D

RDTE 7.6×the volume

IWMW14.8KRDTE112K

IWMW vs RDTE Performance

Oct 31, 2025 – Oct 30, 2026

+9.7%IWMW+14.3%RDTE

Expense ratio: IWMW 0.39%, better; RDTE 0.97%
Fund size: IWMW $55M; RDTE $153M
1Y total return: IWMW +9.7%; RDTE +14.3%, better
Yield (12M): IWMW 20.14%; RDTE 42.51%, better
Holdings: IWMW 1970; RDTE 4
Avg volume (30D): IWMW 14.8K sh; RDTE 112K sh, better
NAV per share: IWMW $37.45; RDTE $25.85
52W range

ETF.net Grade

Pillar letters and Scores for IWMW, RDTE, with each pillar’s weight
Pillar	IWMW	RDTE
Cost30% weight	A83Higher	D30
Mission25% weight	A86Higher	A70
Risk15% weight	D39Higher	D35
Tradability15% weight	C51	B56Higher
Holdings10% weight	A86Higher	D37
Durability5% weight	B64Higher	B57

Rank among Russell 2000 Option Income funds

How we build Categories ›

Same Category. IWMW and RDTE are both graded against the same 9 Russell 2000 Option Income funds, so their Grades compare head to head.

Russell 2000 Option Income⁠

Category · 9 funds

See all 9 ›

IWMW ranks 2nd and RDTE 7th of 9 funds in the Russell 2000 Option Income Category.

Rank 1ARYLDGlobal X Russell 2000 Covered Call ETFScore 76
Rank 2AIWMWiShares Russell 2000 BuyWrite ETFScore 71
Rank 2ARYLGGlobal X Russell 2000 Covered Call & Growth ETFScore 71
Rank 6CCPRACalamos Russell 2000 Structured Alt Protection ETF – AprilScore 47
Rank 7CRDTERoundhill Russell 2000 0DTE Covered Call Strategy ETFScore 46
Rank 8DIWMYR2000 Weekly Distribution ETFScore 36

Our read on each fund

ETF.net Research

IWMWAiShares Russell 2000 BuyWrite ETF

RDTECRoundhill Russell 2000 0DTE Covered Call Strategy ETF

In short

IWMW Small-cap income, stripped down: IWMW owns a Russell 2000 index fund and writes monthly covered calls against it, at 0.39% a year when most Russell 2000 call-writers charge more.

RDTE Roundhill took its 0DTE playbook to small caps. RDTE writes same-day-expiring calls against synthetic Russell 2000 exposure, aiming to convert daily option premium into a weekly income stream.

Stated mandate

IWMW The fund seeks to track an index holding the iShares Russell 2000 ETF and writes monthly covered calls to generate income.

RDTE The Fund primarily seeks current income and secondarily seeks capital appreciation. It uses a synthetic covered-call strategy to generate weekly income while providing exposure to the Russell 2000 Index’s price return.

Why people hold it

IWMW 0.39% a year undercuts most Russell 2000 covered call peers, including RYLD at 0.60% and IWMI at 0.76%.
Rules-based plumbing: the index holds the iShares Russell 2000 ETF and writes monthly covered calls. Nobody is guessing strikes month to month.ishares.com
Cash goes out monthly, funded by the premium from the call writing rather than by small-cap dividends alone.
One of the stronger builds in the Russell 2000 options-income group: low fee, plain-vanilla holdings, a mandate it sticks to.

RDTE The 0DTE mechanic is the whole point: calls that expire the same day, written against small-cap exposure, rather than the monthly options most covered-call funds use.
Income is the stated first priority, and the prospectus sets a weekly distribution rhythm rather than the usual monthly one.
Synthetic construction: it reaches for the Russell 2000's price return through options instead of carrying the full small-cap basket.

Worth knowing

IWMW Covered calls swap upside for premium. In a sharp small-cap rally, the gains above the strike belong to the call buyer, not to you.
Still a small, thinly traded fund, so bid-ask spreads can run wider than on the household-name small-cap ETFs.
Launched in 2024, so there is no track record through a full small-cap drawdown and recovery.

RDTE At 0.97% it sits above the 0.76% median for Russell 2000 option-income funds. RYLG (0.35%) and IWMW (0.39%) write calls on the same benchmark for far less.
Selling calls trades away part of any rally while small-cap drawdowns still come through. Capital appreciation is the secondary goal, not the first one.
It launched in September 2024, so its live record is short next to longer-tenured Russell 2000 income funds.

Full IWMW profile⁠

Full RDTE profile⁠

IWMW vs RDTE Holdings

How IWMW and RDTE differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of IWMW and 0.0% of RDTE.

Level by level

Holdings0 in both0.0%
Sector11 Sectors97.3%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in IWMW and RDTE, widest gap first
Sector	More in IWMWMore in RDTE	IWMW	RDTE
Financials	IWMW +1.3 points	19.3%	18.0%
Technology	RDTE +1.2 points	13.3%	14.5%
Consumer Discretionary	IWMW +0.6 points	9.2%	8.6%
Consumer Staples	RDTE +0.6 points	2.0%	2.6%
Real Estate	RDTE +0.6 points	5.8%	6.4%
Energy	IWMW +0.5 points	6.9%	6.4%
Materials	RDTE +0.3 points	4.0%	4.3%
Utilities	IWMW +0.1 points	2.8%	2.7%
Health Care	IWMW +0.1 points	21.0%	20.9%
Industrials	Same weight	13.3%	13.3%
Communication	Same weight	2.3%	2.3%

Country, concentration and asset class

Country by domicile

Country weights in IWMW and RDTE, widest gap first
Country	More in IWMWMore in RDTE	IWMW	RDTE
United States	Same weight	98.4%	98.4%
Brazil	Same weight	0.6%	0.6%
Switzerland	Same weight	0.3%	0.3%
Canada	Same weight	0.2%	0.2%
United Kingdom	Same weight	0.2%	0.2%
Taiwan	Same weight	0.1%	0.1%
Norway	Same weight	0.1%	0.1%
Singapore	Same weight	0.1%	0.1%
Other countries (5)	Same weight	0.1%	0.1%

Concentration

Weight in the 10 largest Holdings

IWMW3.6%
RDTE100.0%

Securities held

IWMW1,966
RDTE3

Asset class

IWMW: Equity
RDTE: Equity

Holdings

Only in IWMW1,966
In both0
Only in RDTE3

Only in IWMW

1,966 securities, 100% of IWMW by weight

Glaukos0.47%
Twist Bioscience0.39%
Jfrog0.36%
Moog Inc Class A0.35%
Brightspring Health Services Inc0.34%
Umb Financial0.34%
Viasat Inc0.34%
Sm Energy0.33%
10X Genomics Class A0.32%
Brinker International Inc0.32%
Ryman Hospitality Properties Reit0.31%
Old National Bancorp0.30%
Protagonist Therapeutics0.30%
Jackson Financial Class A0.30%
Interdigital Inc0.29%
Caretrust Reit0.29%
Vaxcyte0.29%
Cytokinetics0.29%
Healthequity0.29%
Krystal Biotech0.28%
Tg Therapeutics0.28%
Qualys0.28%
Firstcash Holdings Inc0.26%
Kymera Therapeutics0.26%
Alkermes0.26%
Spyre Therapeutics Inc0.25%
Pbf Energy Class A0.25%
Zeta Global Holdings Class A0.25%
Oscar Health Class A0.25%
Commercial Metals0.25%
Abercrombie and Fitch Class A0.25%
Silicon Laboratories0.25%
Praxis Precision Medicines0.24%
Victoria’s Secret0.24%
Commvault Systems0.24%
Macerich Reit0.24%
Life Time Group Holdings0.24%
Valley National0.24%
Terreno Realty Reit0.24%
Federal Signal Corp0.24%
Southwest Gas Holdings0.23%
Matson Inc0.23%
Hut Corp0.23%
Compass Inc Class A0.23%
Zurn Elkay Water Solutions Corp0.23%
Fluor Corp0.22%
Transocean0.22%
United Bankshares0.22%
Grail Inc0.22%
Glacier Bancorp Inc0.22%

Only in RDTE

3 securities, 99.6% of RDTE by weight

Iwm 11/19/2027 27.81 C89.61%
Roundhill Weekly T-Bill ETF6.84%
First American Government Obligations Fund 12/01/20313.14%

Weight gaps

IWMW and RDTE share no securities.

All IWMW holdings⁠All 4 RDTE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IWMW vs RDTE Cost

Overpaying RDTE vs IWMW

$10,300

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

IWMW 0.39%
$7,898
RDTE 0.97%
$18,198

Amount$10,000

Years30 years

Cost over time

IWMW 0.39%
RDTE 0.97%
Overpaying

Year by year

Year	IWMW	RDTE	Overpaying
10	$705	$1,712	$1,007
20	$2,725	$6,443	$3,718
30	$7,898	$18,198	$10,300

Expense ratio

0.39%IWMW, cheaper
0.97%RDTE

IWMW0.39%RDTE0.97%

0.35%1.73%

Middle half of Russell 2000 Option Income funds
Median 0.69%

IWMW 2nd cheapest of 9 funds

RDTE 7th cheapest of 9 funds

IWMW vs RDTE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IWMW 20.14%; RDTE 42.51%, better
Payout (12M): IWMW $7.52; RDTE $10.97
Last payment: IWMW $0.59; RDTE $0.08
Ex-dividend: IWMW Oct 2, 2026; RDTE Oct 29, 2026
Paid on: IWMW Oct 7, 2026; RDTE Oct 30, 2026
Frequency: IWMW Monthly; RDTE Weekly

Distribution history

Per share, 2026, same scale for both

IWMWMonthly · 9 paymentsAll IWMW payments⁠

RDTEWeekly · 43 paymentsAll RDTE payments⁠

IWMW vs RDTE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IWMW 12.4%since Apr 2024RDTE 16.2%since Oct 2024
Return per unit of riskSharpe ratio, 3 years: IWMW 0.37since Apr 2024RDTE 0.56since Oct 2024
Worst fallMax drawdown, 5 years: IWMW −21.9%since Mar 2024RDTE −24.2%since Sep 2024
Market sensitivityBeta, 5 years: IWMW 0.75RDTE 1.04; Market = 1

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