APRW vs. QDTE

Last updated Jun 5, 2026

APRW (AllianzIM U.S. Large Cap Buffer20 Apr ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - APRW is a Options Trading fund actively managed by Allianz, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, APRW returned 12.72% vs 39.17% for QDTE. Their correlation of 0.81 suggests significant overlap in exposure. APRW charges 0.74%/yr vs 0.97%/yr for QDTE.

Performance

APRW vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) 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, APRW achieves a 6.38% return, which is significantly lower than QDTE's 16.06% return.

APRW

• 1D: 0.11%
• 1M: 1.21%
• YTD: 6.38%
• 6M: 7.12%
• 1Y: 12.72%
• 3Y*: 10.27%
• 5Y*: 7.14%
• 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)

APRW vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF	6.38%	6.18%	8.94%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.06%	19.32%	16.07%

Correlation

The correlation between APRW and QDTE is 0.76, 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	0.76
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.81

The correlation between APRW and QDTE has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

APRW vs. QDTE - Sectors Allocation Comparison

Sectors	APRW	QDTE
Technology	36.2%	-
Financial Services	11.9%	5.4%
Communication Services	10.9%	-
Consumer Cyclical	10.1%	-
Healthcare	8.4%	-
Industrials	8.1%	-
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.3%	-
Real Estate	1.9%	-
Basic Materials	1.8%	-

Return for Risk

APRW vs. QDTE — Risk / Return Rank

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

APRW

APRW Risk / Return Rank: 98
APRW Sharpe Ratio Rank: 97
APRW Sortino Ratio Rank: 98
APRW Omega Ratio Rank: 98
APRW Calmar Ratio Rank: 98
APRW 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.

APRW vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) 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.

	APRW	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	4.88	2.66	+2.22
Sortino ratio: Return per unit of downside risk	8.96	3.41	+5.55
Omega ratio: Gain probability vs. loss probability	2.24	1.46	+0.78
Calmar ratio: Return relative to maximum drawdown	17.00	3.86	+13.14
Martin ratio: Return relative to average drawdown	87.02	15.60	+71.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APRW vs. QDTE - Sharpe Ratio Comparison

The current APRW Sharpe Ratio is 4.88, which is higher than the QDTE Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of APRW 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

	APRW	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.88	2.66	+2.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	1.29	-0.13

Drawdowns

APRW vs. QDTE - Drawdown Comparison

The maximum APRW drawdown since its inception was -9.61%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for APRW and QDTE.

Drawdown Indicators

	APRW	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-9.61%	-22.86%	+13.25%
Max Drawdown (1Y) Largest decline over 1 year	-0.75%	-10.20%	+9.45%
Max Drawdown (3Y) Largest decline over 3 years	-9.61%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.61%	—	—
Current Drawdown Current decline from peak	0.00%	-0.60%	+0.60%
Average Drawdown Average peak-to-trough decline	-1.12%	-3.14%	+2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.15%	2.52%	-2.37%

Volatility

APRW vs. QDTE - Volatility Comparison

The current volatility for AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) is 0.59%, while Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 3.72%. This indicates that APRW 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

	APRW	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.59%	3.72%	-3.13%
Volatility (6M) Calculated over the trailing 6-month period	1.84%	11.01%	-9.17%
Volatility (1Y) Calculated over the trailing 1-year period	2.62%	14.81%	-12.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.72%	18.42%	-11.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.41%	18.42%	-12.01%

APRW vs. QDTE - Expense Ratio Comparison

APRW has a 0.74% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

APRW vs. QDTE - Dividend Comparison

APRW has not paid dividends to shareholders, while QDTE's dividend yield for the trailing twelve months is around 43.41%.

Position	TTM	2025	2024	2023	2022	2021	2020
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.67%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	43.41%	49.49%	32.09%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both APRW and QDTE in my portfolio?

APRW and QDTE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APRW or QDTE?

QDTE has higher volatility (3.72%) compared to APRW (0.59%). In terms of maximum drawdown, APRW dropped -9.61% vs QDTE's -22.86%.

Which ETF is better, APRW or QDTE?

On 1-year performance, QDTE leads with 39.17% vs 12.72% for APRW. On fees, APRW is cheaper at 0.74% per year. On volatility, APRW has been the lower-risk option at 0.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APRW or QDTE?

Over the 1-year period, QDTE has performed better with a 39.17% return vs 12.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APRW or QDTE?

APRW is cheaper with a 0.74% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 43.41%, compared with 0.00% for APRW.

What is the main difference between APRW and QDTE?

APRW is categorized as Options Trading, while QDTE is Derivative Income. They also come from different issuers: Allianz and Roundhill. Their fees differ too: 0.74% for APRW and 0.97% for QDTE.

Which has better risk-adjusted returns?

APRW currently has the higher Sharpe Ratio (4.88 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.