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AAPI.L vs. QQQY.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AAPI.L vs. QQQY.L

Last updated Jun 5, 2026

AAPI.L (IncomeShares Apple (AAPL) Options ETP GBP) and QQQY.L (IncomeShares Nasdaq 100 Options (0DTE) ETP) are both exchange-traded funds - AAPI.L is a Derivative Income fund actively managed by Leverage Shares, while QQQY.L is a Nasdaq-100 fund actively managed by Leverage Shares. Both are actively managed. Over the past year, AAPI.L returned 19.57% vs 33.09% for QQQY.L. At a 0.29 correlation, their price movements are largely independent. AAPI.L charges 0.55%/yr vs 0.45%/yr for QQQY.L.

Performance

AAPI.L vs. QQQY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in IncomeShares Apple (AAPL) Options ETP GBP (AAPI.L) and IncomeShares Nasdaq 100 Options (0DTE) ETP (QQQY.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

AAPI.L is traded in GBp, while QQQY.L is traded in USD. To make them comparable, the QQQY.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, AAPI.L achieves a 4.07% return, which is significantly lower than QQQY.L's 15.57% return.

AAPI.L

1D
-0.34%
1M
9.04%
YTD
4.07%
6M
1.51%
1Y
19.57%
3Y*
—
5Y*
—
10Y*
—

QQQY.L

1D
-0.82%
1M
8.63%
YTD
15.57%
6M
13.96%
1Y
33.09%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

AAPI.L vs. QQQY.L - Yearly Performance Comparison

2026 (YTD)20252024
AAPI.L
IncomeShares Apple (AAPL) Options ETP GBP		4.07%-12.96%20.45%
QQQY.L
IncomeShares Nasdaq 100 Options (0DTE) ETP		15.53%6.11%11.87%

Correlation

The correlation between AAPI.L and QQQY.L 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 27, 2024

0.29

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

IncomeShares Apple (AAPL) Options ETP GBP

IncomeShares Nasdaq 100 Options (0DTE) ETP

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Often compared with QQQY.L:
QQQY.L vs. QQQQQQY.L vs. QQQIQQQY.L vs. MSTYQQQY.L vs. COIY.DEQQQY.L vs. VOOQQQY.L vs. SPYY.LQQQY.L vs. MAGD.L

Return for Risk

AAPI.L vs. QQQY.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AAPI.L
AAPI.L Risk / Return Rank: 2525
Overall Rank
AAPI.L Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
AAPI.L Sortino Ratio Rank: 2626
Sortino Ratio Rank
AAPI.L Omega Ratio Rank: 2828
Omega Ratio Rank
AAPI.L Calmar Ratio Rank: 2323
Calmar Ratio Rank
AAPI.L Martin Ratio Rank: 2020
Martin Ratio Rank
QQQY.L
QQQY.L Risk / Return Rank: 7171
Overall Rank
QQQY.L Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
QQQY.L Sortino Ratio Rank: 6262
Sortino Ratio Rank
QQQY.L Omega Ratio Rank: 7070
Omega Ratio Rank
QQQY.L Calmar Ratio Rank: 8282
Calmar Ratio Rank
QQQY.L Martin Ratio Rank: 7373
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAPI.L vs. QQQY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IncomeShares Apple (AAPL) Options ETP GBP (AAPI.L) and IncomeShares Nasdaq 100 Options (0DTE) ETP (QQQY.L). 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.

AAPI.LQQQY.LDifference
Sharpe ratioReturn per unit of total volatility
0.98
2.16

-1.17

Sortino ratioReturn per unit of downside risk
1.39
2.79

-1.40

Omega ratioGain probability vs. loss probability

1.19

1.43

-0.24

Calmar ratioReturn relative to maximum drawdown

1.03

4.75

-3.72

Martin ratioReturn relative to average drawdown

2.36

10.65

-8.30

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAPI.L vs. QQQY.L - Sharpe Ratio Comparison

The current AAPI.L Sharpe Ratio is 0.98, which is lower than the QQQY.L Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of AAPI.L and QQQY.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

AAPI.LQQQY.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.98

2.16

-1.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.22

0.96

-0.73

Drawdowns

AAPI.L vs. QQQY.L - Drawdown Comparison

The maximum AAPI.L drawdown since its inception was -31.31%, which is greater than QQQY.L's maximum drawdown of -22.90%. Use the drawdown chart below to compare losses from any high point for AAPI.L and QQQY.L.

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Drawdown Indicators

AAPI.LQQQY.LDifference

Max Drawdown

Largest peak-to-trough decline

-31.31%

-22.90%

-8.41%

Max Drawdown (1Y)

Largest decline over 1 year

-18.90%

-6.93%

-11.97%

Current Drawdown

Current decline from peak

-10.13%

-0.82%

-9.31%

Average Drawdown

Average peak-to-trough decline

-14.68%

-5.03%

-9.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.29%

3.10%

+5.19%

Volatility

AAPI.L vs. QQQY.L - Volatility Comparison

The current volatility for IncomeShares Apple (AAPL) Options ETP GBP (AAPI.L) is 4.51%, while IncomeShares Nasdaq 100 Options (0DTE) ETP (QQQY.L) has a volatility of 4.83%. This indicates that AAPI.L experiences smaller price fluctuations and is considered to be less risky than QQQY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AAPI.LQQQY.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.51%

4.83%

-0.32%

Volatility (6M)

Calculated over the trailing 6-month period

14.01%

10.38%

+3.63%

Volatility (1Y)

Calculated over the trailing 1-year period

19.85%

15.28%

+4.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.79%

21.26%

+2.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.79%

21.26%

+2.53%

AAPI.L vs. QQQY.L - Expense Ratio Comparison

AAPI.L has a 0.55% expense ratio, which is higher than QQQY.L's 0.45% expense ratio.

Dividends

AAPI.L vs. QQQY.L - Dividend Comparison

AAPI.L's dividend yield for the trailing twelve months is around 11.05%, less than QQQY.L's 67.73% yield.

PositionTTM20252024
AAPI.L
IncomeShares Apple (AAPL) Options ETP GBP		11.05%11.04%1.04%
QQQY.L
IncomeShares Nasdaq 100 Options (0DTE) ETP		67.73%120.60%18.65%

Frequently Asked Questions

AAPI.L and QQQY.L 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.

On fees, QQQY.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

QQQY.L is cheaper with a 0.45% expense ratio, compared with 0.55% for AAPI.L.

AAPI.L is categorized as Derivative Income, while QQQY.L is Nasdaq-100. Their fees differ too: 0.55% for AAPI.L and 0.45% for QQQY.L.

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