APRJ vs. QDTE

Last updated Jun 5, 2026

APRJ (Innovator Premium Income 30 Barrier ETF - April) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - APRJ is a Options Trading fund actively managed by Innovator, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, APRJ returned 7.01% vs 39.17% for QDTE. A 0.51 correlation means they provide meaningful diversification when combined. APRJ charges 0.79%/yr vs 0.97%/yr for QDTE.

Performance

APRJ vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 30 Barrier ETF - April (APRJ) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APRJ achieves a 3.30% return, which is significantly lower than QDTE's 16.06% return.

APRJ

• 1D: 0.12%
• 1M: 0.70%
• YTD: 3.30%
• 6M: 3.76%
• 1Y: 7.01%
• 3Y*: 6.37%
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -0.45%
• 1M: 7.12%
• YTD: 16.06%
• 6M: 15.73%
• 1Y: 39.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APRJ vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
APRJ Innovator Premium Income 30 Barrier ETF - April	3.30%	5.71%	5.02%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.06%	19.32%	16.07%

Correlation

The correlation between APRJ and QDTE is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.51

The correlation between APRJ and QDTE has been stable across timeframes, ranging from 0.41 to 0.51 - a consistent structural relationship.

APRJ vs. QDTE - Sectors Allocation Comparison

Sectors	APRJ	QDTE
Technology	33.6%	-
Financial Services	12.4%	5.4%
Communication Services	10.5%	-
Consumer Cyclical	10.0%	-
Healthcare	9.5%	-
Industrials	8.5%	-
Consumer Defensive	5.3%	-
Energy	4.0%	-
Utilities	2.5%	-
Real Estate	2.0%	-
Basic Materials	1.9%	-

Return for Risk

APRJ vs. QDTE — Risk / Return Rank

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

APRJ

APRJ Risk / Return Rank: 98
APRJ Sharpe Ratio Rank: 97
APRJ Sortino Ratio Rank: 99
APRJ Omega Ratio Rank: 98
APRJ Calmar Ratio Rank: 99
APRJ Martin Ratio Rank: 99

QDTE

QDTE Risk / Return Rank: 79
QDTE Sharpe Ratio Rank: 82
QDTE Sortino Ratio Rank: 77
QDTE Omega Ratio Rank: 78
QDTE Calmar Ratio Rank: 77
QDTE Martin Ratio Rank: 80

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.

APRJ vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 30 Barrier ETF - April (APRJ) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). 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.

	APRJ	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	4.69	2.66	+2.03
Sortino ratio: Return per unit of downside risk	9.60	3.41	+6.20
Omega ratio: Gain probability vs. loss probability	2.22	1.46	+0.76
Calmar ratio: Return relative to maximum drawdown	35.07	3.86	+31.22
Martin ratio: Return relative to average drawdown	105.74	15.60	+90.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APRJ vs. QDTE - Sharpe Ratio Comparison

The current APRJ Sharpe Ratio is 4.69, which is higher than the QDTE Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of APRJ and QDTE, 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

	APRJ	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.69	2.66	+2.03
Sharpe Ratio (All Time) Calculated using the full available price history	1.81	1.29	+0.52

Drawdowns

APRJ vs. QDTE - Drawdown Comparison

The maximum APRJ drawdown since its inception was -4.68%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for APRJ and QDTE.

Drawdown Indicators

	APRJ	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-4.68%	-22.86%	+18.18%
Max Drawdown (1Y) Largest decline over 1 year	-0.20%	-10.20%	+10.00%
Max Drawdown (3Y) Largest decline over 3 years	-4.68%	—	—
Current Drawdown Current decline from peak	0.00%	-0.60%	+0.60%
Average Drawdown Average peak-to-trough decline	-0.12%	-3.14%	+3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.07%	2.52%	-2.45%

Volatility

APRJ vs. QDTE - Volatility Comparison

The current volatility for Innovator Premium Income 30 Barrier ETF - April (APRJ) is 0.47%, while Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 3.72%. This indicates that APRJ experiences smaller price fluctuations and is considered to be less risky than QDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APRJ	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	3.72%	-3.25%
Volatility (6M) Calculated over the trailing 6-month period	1.14%	11.01%	-9.87%
Volatility (1Y) Calculated over the trailing 1-year period	1.50%	14.81%	-13.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.63%	18.42%	-14.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.63%	18.42%	-14.79%

APRJ vs. QDTE - Expense Ratio Comparison

APRJ has a 0.79% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

APRJ vs. QDTE - Dividend Comparison

APRJ's dividend yield for the trailing twelve months is around 5.26%, less than QDTE's 43.41% yield.

Position	TTM	2025	2024	2023
APRJ Innovator Premium Income 30 Barrier ETF - April	5.26%	5.46%	5.88%	4.88%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	43.41%	49.49%	32.09%	0.00%

Frequently Asked Questions

Can I hold both APRJ and QDTE in my portfolio?

APRJ and QDTE have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APRJ or QDTE?

QDTE has higher volatility (3.72%) compared to APRJ (0.47%). In terms of maximum drawdown, APRJ dropped -4.68% vs QDTE's -22.86%.

Which ETF is better, APRJ or QDTE?

On 1-year performance, QDTE leads with 39.17% vs 7.01% for APRJ. On fees, APRJ is cheaper at 0.79% per year. On volatility, APRJ has been the lower-risk option at 0.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APRJ or QDTE?

Over the 1-year period, QDTE has performed better with a 39.17% return vs 7.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APRJ or QDTE?

APRJ is cheaper with a 0.79% expense ratio, compared with 0.97% for QDTE.

Which ETF pays a higher dividend yield, APRJ or QDTE?

QDTE has the higher dividend yield at 43.41%, compared with 5.26% for APRJ.

What is the main difference between APRJ and QDTE?

APRJ is categorized as Options Trading, while QDTE is Derivative Income. They also come from different issuers: Innovator and Roundhill. Their fees differ too: 0.79% for APRJ and 0.97% for QDTE.

Which has better risk-adjusted returns?

APRJ currently has the higher Sharpe Ratio (4.69 vs 2.66), 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.