IWMW vs RDTY

IWMWAiShares Russell 2000 BuyWrite ETF

RDTYDYieldMax R2000 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.

RDTY YieldMax's small-cap income experiment: sell options that expire the same day against Russell 2000 exposure, then push the premium out on a weekly schedule. A fast-cycle twist on the classic covered-call fund, priced like a specialty product.

Stated mandate

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

RDTY Actively managed to generate current income through frequent option-premium capture while providing exposure to the Russell 2000 Index's price return; it targets weekly income distributions.

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.

• RDTY The 0DTE mechanic is the whole point: same-day-expiry options written for premium, with income targeted on a weekly cadence rather than the usual monthly drip.yieldmaxetfs.com
• Actively managed, so strike and timing decisions sit with a manager instead of a fixed index rulebook.yieldmaxetfs.com
• Russell 2000 price exposure stays underneath the options, so you hold small-cap beta while the calls convert part of a sharp rally into cash now.yieldmaxetfs.com

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.

• RDTY At 1.73% a year, the fee is more than double the category median of 0.76%. Cheaper Russell 2000 call-writers exist, including RYLG at 0.35% and RYLD at 0.60%.
• The fund discloses that distributions can include return of capital, meaning part of a payout may be your own money coming back rather than earned income.yieldmaxetfs.com
• Launched in 2025, it is still a small fund that trades thinly, so the track record is short and spreads deserve a look before you use market orders.

Full IWMW profile⁠

Full RDTY profile⁠