^IBEX vs. QQQY
^IBEX (IBEX 35 Index) is an index, while QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) is Nasdaq-100 fund actively managed by Defiance. Over the past year, ^IBEX returned 29.61% vs 33.32% for QQQY. At a 0.09 correlation, their price movements are largely independent.
Performance
^IBEX vs. QQQY - Performance Comparison
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Different Trading Currencies
^IBEX is traded in EUR, while QQQY is traded in USD. To make them comparable, the QQQY values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ^IBEX achieves a 5.59% return, which is significantly lower than QQQY's 20.20% return.
^IBEX
- 1D
- 0.55%
- 1M
- 3.44%
- YTD
- 5.59%
- 6M
- 9.13%
- 1Y
- 29.61%
- 3Y*
- 25.31%
- 5Y*
- 15.00%
- 10Y*
- 7.55%
QQQY
- 1D
- -0.33%
- 1M
- 8.67%
- YTD
- 20.20%
- 6M
- 18.99%
- 1Y
- 33.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
^IBEX vs. QQQY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
^IBEX IBEX 35 Index | 5.59% | 49.27% | 14.78% | 5.79% |
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF | 20.20% | 1.32% | 14.80% | 3.39% |
Correlation
The correlation between ^IBEX and QQQY is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | 0.09 |
The correlation between ^IBEX and QQQY shifts across timeframes, from 0.09 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
^IBEX vs. QQQY — Risk / Return Rank
^IBEX
QQQY
^IBEX vs. QQQY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IBEX 35 Index (^IBEX) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). 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.
| ^IBEX | QQQY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.43 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 3.55 | -0.55 |
| Martin ratioReturn relative to average drawdown | 9.92 | 11.68 | -1.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ^IBEX | QQQY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.82 | 2.36 | -0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.91 | -0.65 |
Drawdowns
^IBEX vs. QQQY - Drawdown Comparison
The maximum ^IBEX drawdown since its inception was -62.65%, which is greater than QQQY's maximum drawdown of -25.54%. Use the drawdown chart below to compare losses from any high point for ^IBEX and QQQY.
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Drawdown Indicators
| ^IBEX | QQQY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.65% | -25.54% | -37.11% |
Max Drawdown (1Y)Largest decline over 1 year | -9.64% | -9.44% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -12.60% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.76% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.16% | — | — |
Current DrawdownCurrent decline from peak | -1.19% | -0.41% | -0.78% |
Average DrawdownAverage peak-to-trough decline | -28.32% | -4.45% | -23.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 2.86% | +0.04% |
Volatility
^IBEX vs. QQQY - Volatility Comparison
IBEX 35 Index (^IBEX) has a higher volatility of 4.44% compared to Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) at 3.34%. This indicates that ^IBEX's price experiences larger fluctuations and is considered to be riskier than QQQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^IBEX | QQQY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.44% | 3.34% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 13.16% | 10.76% | +2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.88% | 14.20% | +1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.30% | 16.12% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.50% | 16.12% | +2.38% |
Frequently Asked Questions
^IBEX and QQQY have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^IBEX has higher volatility (4.44%) compared to QQQY (3.34%). In terms of maximum drawdown, ^IBEX dropped -62.65% vs QQQY's -25.54%.
QQQY currently has the higher Sharpe Ratio (2.36 vs 1.82), 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.
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