RDTE vs IWMI: Income Fund Comparison
Roundhill Small Cap ODTE Covered Call Strategy ETF - US (RDTE) and NEOS Russell 2000 High Income ETF - US (IWMI) are both income-focused funds. Below is our independent side-by-side review using the Dependable Income Investing 13-factor scoring system — designed specifically for income investors seeking reliable, sustainable distributions.
Also see: RDTE individual review · IWMI individual review
RDTE: Gross expense ratio is 0.97% which is high due to the daily options trading. IWMI: Total Annual Fund Operating Expenses are 0.78% (management fee 0.68% contractually capped through September 2026 plus acquired fund fees and expenses of 0.10% from holding VTWO) as of March 2026. RDTE fund inception date was Sept 9 2024. IWMI fund inception June 24 2024. Approximately 1.7 years old as of review date - less than 2 years. Full Dependability and Return scores for both funds are available in the app.
| RDTE | IWMI | |
|---|---|---|
| Fund Name | Roundhill Small Cap ODTE Covered Call Strategy ETF - US | NEOS Russell 2000 High Income ETF - US |
| Fund Type | Index Based Fund | Index Based Fund |
| Exchange | NYSE/NASDAQ | NYSE/NASDAQ |
| Last Reviewed | 2025-11-12 | 2026-03-16 |
| Author | Adam Hyde, Income Investing Analyst | |
🔒 Full scores available — with Premium subscription
Compare Performance — Free →Fund Attributes: RDTE vs IWMI 20% of overall score
Fund Attributes cover the foundational characteristics of each fund: cost, company backing, track record, and size. These factors reflect stability and cost-efficiency for long-term income investors.
Gross expense ratio is 0.97% which is high due to the daily options trading.
Total Annual Fund Operating Expenses are 0.78% (management fee 0.68% contractually capped through September 2026 plus acquired fund fees and expenses of 0.10% from holding VTWO) as of March 2026.
As of early November 2025 - Roundhill Investments has over $10.26 billion in assets under management (AUM) - a figure that places it as the 42nd largest ETF provider in the U.S.
NEOS Investments manages approximately $20 billion in assets across 19 ETFs as of early 2026.
Fund inception date was Sept 9 2024.
Fund inception June 24 2024. Approximately 1.7 years old as of review date - less than 2 years.
About 170 million in AUM for the fund.
Net assets $649.85 million as of March 13 2026 per the fund page.
Risk: RDTE vs IWMI 35% of overall score
Risk factors evaluate how each fund manages volatility, diversification, and the nature of its underlying assets — critical considerations for income investors who prioritise capital preservation.
Fund is fairly volatile at 1.4 beta.
Beta 0.88 vs SPY (weekly; July 2024 to March 2026) - in the 0.80-0.99 range. Standalone volatility 16.86% annualized (weekly total returns per data series) - low-to-moderate. Both metrics support score 4.
See the full Risk analysis for both RDTE and IWMI — volatility ratings, diversification scores, and analyst notes.
View Plans →Return: RDTE vs IWMI 45% of overall score
Return factors assess income generation quality: current yield, distribution consistency, price history, and payment frequency. This is the most heavily weighted category for income investors.
This is a weekly payer.
The fund pays distributions monthly confirmed from distribution history showing consistent monthly payments since June 2024.
See the full Return analysis for both RDTE and IWMI — yield ratings, distribution consistency scores, and capital history.
View Plans →Our Review Methodology
Every fund reviewed on Dependable Income Investing is scored using our 13-factor Fund Report Card, organised into three weighted categories: Fund Attributes (20%), Risk (35%), and Return (45%). Each criterion is rated 1–5 by our analysts based on publicly available fund data.
We also calculate a Dependability Score — a weighted composite of six income-specific factors ranked by importance for retirement income investors: Yield Stability, Yield, Volatility, Capital History, Fund Risk, and Underlying Assets. This score answers the question income investors care about most: can I depend on this fund to pay me reliably?
Full scores, ratings, and analyst notes for both RDTE and IWMI are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions: RDTE vs IWMI
Which has a lower expense ratio, RDTE or IWMI?
RDTE: Gross expense ratio is 0.97% which is high due to the daily options trading.
IWMI: Total Annual Fund Operating Expenses are 0.78% (management fee 0.68% contractually capped through September 2026 plus acquired fund fees and expenses of 0.10% from holding VTWO) as of March 2026.
Which fund has more assets under management, RDTE or IWMI?
RDTE: About 170 million in AUM for the fund.
IWMI: Net assets $649.85 million as of March 13 2026 per the fund page.
Which fund has been trading longer, RDTE or IWMI?
RDTE: Fund inception date was Sept 9 2024.
IWMI: Fund inception June 24 2024. Approximately 1.7 years old as of review date - less than 2 years.
Who manages RDTE vs IWMI?
RDTE: As of early November 2025 - Roundhill Investments has over $10.26 billion in assets under management (AUM) - a figure that places it as the 42nd largest ETF provider in the U.S.
IWMI: NEOS Investments manages approximately $20 billion in assets across 19 ETFs as of early 2026.
Where can I see the full RDTE vs IWMI comparison with scores?
The complete side-by-side comparison — including all Risk and Return scores, analyst notes, Overall Score, and Dependability Score for both funds — is available in the Dependable Income Investing app.
What is the difference between RDTE and IWMI?
Roundhill Small Cap ODTE Covered Call Strategy ETF - US is a Index Based Fund. Gross expense ratio is 0.97% which is high due to the daily options trading. NEOS Russell 2000 High Income ETF - US is a Index Based Fund. Total Annual Fund Operating Expenses are 0.78% (management fee 0.68% contractually capped through September 2026 plus acquired fund fees and expenses of 0.10% from holding VTWO) as of March 2026. Full comparison including Dependability Score is available in the Dependable Income Investing app.
Which is better for income investors, RDTE or IWMI?
RDTE: Gross expense ratio is 0.97% which is high due to the daily options trading. Fund inception date was Sept 9 2024. IWMI: Total Annual Fund Operating Expenses are 0.78% (management fee 0.68% contractually capped through September 2026 plus acquired fund fees and expenses of 0.10% from holding VTWO) as of March 2026. Fund inception June 24 2024. Approximately 1.7 years old as of review date - less than 2 years. Which scores higher on Dependability and Return is available in the Dependable Income Investing app.
Do RDTE and IWMI pay monthly distributions?
RDTE: This is a weekly payer. IWMI: The fund pays distributions monthly confirmed from distribution history showing consistent monthly payments since June 2024. Full yield and distribution stability scores for both funds are available in the Dependable Income Investing app.
See the Full RDTE vs IWMI Comparison
The Dependable Income Investing app gives you the complete picture: all 13 scoring factors for both funds, Risk and Return analyst notes, Dependability Scores, and tools to compare any income fund side by side.
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