AAPW vs. QQQY

Last updated Jun 9, 2026

AAPW (AAPL WeeklyPay™ ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - AAPW is a Derivative Income fund actively managed by Roundhill, while QQQY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Over the past year, AAPW returned 53.40% vs 30.60% for QQQY. At a 0.44 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

AAPW vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAPL WeeklyPay™ ETF (AAPW) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAPW achieves a 11.28% return, which is significantly lower than QQQY's 14.65% return.

AAPW

• 1D: -2.57%
• 1M: 3.24%
• YTD: 11.28%
• 6M: 8.38%
• 1Y: 53.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQY

• 1D: 1.28%
• 1M: -0.02%
• YTD: 14.65%
• 6M: 14.20%
• 1Y: 30.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAPW vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025
AAPW AAPL WeeklyPay™ ETF	11.28%	8.56%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	14.65%	10.54%

Correlation

The correlation between AAPW and QQQY is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.44

Return for Risk

AAPW vs. QQQY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAPW

AAPW Risk / Return Rank: 63
AAPW Sharpe Ratio Rank: 65
AAPW Sortino Ratio Rank: 67
AAPW Omega Ratio Rank: 64
AAPW Calmar Ratio Rank: 68
AAPW Martin Ratio Rank: 50

QQQY

QQQY Risk / Return Rank: 68
QQQY Sharpe Ratio Rank: 72
QQQY Sortino Ratio Rank: 63
QQQY Omega Ratio Rank: 75
QQQY Calmar Ratio Rank: 61
QQQY Martin Ratio Rank: 69

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.

AAPW vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAPL WeeklyPay™ ETF (AAPW) 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.

	AAPW	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.12	-0.17
Sortino ratio: Return per unit of downside risk	2.75	2.62	+0.12
Omega ratio: Gain probability vs. loss probability	1.35	1.40	-0.05
Calmar ratio: Return relative to maximum drawdown	3.09	2.76	+0.33
Martin ratio: Return relative to average drawdown	7.76	11.59	-3.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAPW vs. QQQY - Sharpe Ratio Comparison

The current AAPW Sharpe Ratio is 1.94, which is comparable to the QQQY Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of AAPW and QQQY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AAPW	QQQY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	2.12	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	1.11	-0.66

Drawdowns

AAPW vs. QQQY - Drawdown Comparison

The maximum AAPW drawdown since its inception was -36.28%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for AAPW and QQQY.

Drawdown Indicators

	AAPW	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-36.28%	-19.05%	-17.23%
Max Drawdown (1Y) Largest decline over 1 year	-17.36%	-11.14%	-6.22%
Current Drawdown Current decline from peak	-5.19%	-4.06%	-1.13%
Average Drawdown Average peak-to-trough decline	-11.10%	-2.91%	-8.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.92%	2.65%	+4.27%

Volatility

AAPW vs. QQQY - Volatility Comparison

AAPL WeeklyPay™ ETF (AAPW) has a higher volatility of 6.96% compared to Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) at 6.53%. This indicates that AAPW'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.

Volatility by Period

	AAPW	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	6.53%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	19.70%	12.41%	+7.29%
Volatility (1Y) Calculated over the trailing 1-year period	27.65%	14.55%	+13.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.66%	15.03%	+19.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.66%	15.03%	+19.63%

AAPW vs. QQQY - Expense Ratio Comparison

Both AAPW and QQQY have an expense ratio of 0.99%.

Dividends

AAPW vs. QQQY - Dividend Comparison

AAPW's dividend yield for the trailing twelve months is around 33.19%, less than QQQY's 35.66% yield.

Position	TTM	2025	2024	2023
AAPW AAPL WeeklyPay™ ETF	33.19%	28.83%	0.00%	0.00%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	35.66%	45.34%	83.34%	20.64%

Frequently Asked Questions

Can I hold both AAPW and QQQY in my portfolio?

AAPW and QQQY have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPW or QQQY?

AAPW has higher volatility (6.96%) compared to QQQY (6.53%). In terms of maximum drawdown, AAPW dropped -36.28% vs QQQY's -19.05%.

Which ETF is better, AAPW or QQQY?

On 1-year performance, AAPW leads with 53.40% vs 30.60% for QQQY. Both ETFs have the same 0.99% expense ratio. On volatility, QQQY has been the lower-risk option at 6.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPW or QQQY?

Over the 1-year period, AAPW has performed better with a 53.40% return vs 30.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPW or QQQY?

AAPW and QQQY have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, AAPW or QQQY?

QQQY has the higher dividend yield at 35.66%, compared with 33.19% for AAPW.

What is the main difference between AAPW and QQQY?

AAPW is categorized as Derivative Income, while QQQY is Nasdaq-100. They also come from different issuers: Roundhill and Defiance.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (2.12 vs 1.94), 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.