AMZP vs. QQQY

Last updated Jun 3, 2026

AMZP (Kurv Yield Premium Strategy Amazon AMZN ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - AMZP is a Options Trading fund actively managed by Kurv, while QQQY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Over the past year, AMZP returned 23.84% vs 37.77% for QQQY. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.99% expense ratio.

Performance

AMZP vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP) 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, AMZP achieves a 8.22% return, which is significantly lower than QQQY's 19.50% return.

AMZP

• 1D: -1.91%
• 1M: -5.00%
• YTD: 8.22%
• 6M: 7.97%
• 1Y: 23.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQY

• 1D: 0.44%
• 1M: 9.90%
• YTD: 19.50%
• 6M: 19.98%
• 1Y: 37.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AMZP vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AMZP Kurv Yield Premium Strategy Amazon AMZN ETF	8.22%	9.56%	37.42%	7.73%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	19.50%	14.96%	7.70%	8.21%

Correlation

The correlation between AMZP and QQQY is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (All Time) Calculated using the full available price history since Nov 7, 2023	0.62

The correlation between AMZP and QQQY has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.

Return for Risk

AMZP vs. QQQY — Risk / Return Rank

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

AMZP

AMZP Risk / Return Rank: 23
AMZP Sharpe Ratio Rank: 24
AMZP Sortino Ratio Rank: 24
AMZP Omega Ratio Rank: 24
AMZP Calmar Ratio Rank: 23
AMZP Martin Ratio Rank: 22

QQQY

QQQY Risk / Return Rank: 78
QQQY Sharpe Ratio Rank: 84
QQQY Sortino Ratio Rank: 77
QQQY Omega Ratio Rank: 83
QQQY Calmar Ratio Rank: 69
QQQY Martin Ratio Rank: 76

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.

AMZP vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP) 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.

	AMZP	QQQY	Difference
Sharpe ratio Return per unit of total volatility	0.83	2.78	-1.95
Sortino ratio Return per unit of downside risk	1.28	3.48	-2.20
Omega ratio Gain probability vs. loss probability	1.16	1.51	-0.35
Calmar ratio Return relative to maximum drawdown	1.05	3.49	-2.44
Martin ratio Return relative to average drawdown	2.71	14.87	-12.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMZP vs. QQQY - Sharpe Ratio Comparison

The current AMZP Sharpe Ratio is 0.83, which is lower than the QQQY Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of AMZP 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

	AMZP	QQQY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	2.78	-1.95
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	1.26	-0.34

Drawdowns

AMZP vs. QQQY - Drawdown Comparison

The maximum AMZP drawdown since its inception was -27.36%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for AMZP and QQQY.

Drawdown Indicators

	AMZP	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-27.36%	-19.05%	-8.31%
Max Drawdown (1Y) Largest decline over 1 year	-23.64%	-11.14%	-12.50%
Current Drawdown Current decline from peak	-7.65%	0.00%	-7.65%
Average Drawdown Average peak-to-trough decline	-6.02%	-2.91%	-3.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.15%	2.61%	+6.54%

Volatility

AMZP vs. QQQY - Volatility Comparison

Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP) has a higher volatility of 8.11% compared to Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) at 4.17%. This indicates that AMZP'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

	AMZP	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.11%	4.17%	+3.94%
Volatility (6M) Calculated over the trailing 6-month period	22.00%	11.29%	+10.71%
Volatility (1Y) Calculated over the trailing 1-year period	28.99%	13.68%	+15.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.81%	14.76%	+12.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.81%	14.76%	+12.05%

AMZP vs. QQQY - Expense Ratio Comparison

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

Dividends

AMZP vs. QQQY - Dividend Comparison

AMZP's dividend yield for the trailing twelve months is around 19.00%, less than QQQY's 34.21% yield.

Position	TTM	2025	2024	2023
AMZP Kurv Yield Premium Strategy Amazon AMZN ETF	19.00%	22.04%	15.15%	2.45%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	34.21%	45.34%	83.34%	20.64%

Frequently Asked Questions

Can I hold both AMZP and QQQY in my portfolio?

AMZP and QQQY have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMZP or QQQY?

AMZP has higher volatility (8.11%) compared to QQQY (4.17%). In terms of maximum drawdown, AMZP dropped -27.36% vs QQQY's -19.05%.

Which ETF is better, AMZP or QQQY?

On 1-year performance, QQQY leads with 37.77% vs 23.84% for AMZP. Both ETFs have the same 0.99% expense ratio. On volatility, QQQY has been the lower-risk option at 4.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZP or QQQY?

Over the 1-year period, QQQY has performed better with a 37.77% return vs 23.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZP or QQQY?

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

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

QQQY has the higher dividend yield at 34.21%, compared with 19.00% for AMZP.

What is the main difference between AMZP and QQQY?

AMZP is categorized as Options Trading, while QQQY is Nasdaq-100. They also come from different issuers: Kurv and Defiance.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (2.78 vs 0.83), 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.