BAGY vs. QQQI

Last updated Jun 24, 2026

BAGY (Amplify Bitcoin Max Income Covered Call ETF) and QQQI (NEOS Nasdaq-100 High Income ETF) are both exchange-traded funds - BAGY is a Derivative Income fund actively managed by Amplify, while QQQI is a Nasdaq-100 fund actively managed by Neos. Both are actively managed. Over the past year, BAGY returned -38.64% vs 24.88% for QQQI. A 0.51 correlation means they provide meaningful diversification when combined. BAGY charges 0.65%/yr vs 0.68%/yr for QQQI.

Performance

BAGY vs. QQQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Bitcoin Max Income Covered Call ETF (BAGY) and NEOS Nasdaq-100 High Income ETF (QQQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BAGY achieves a -25.28% return, which is significantly lower than QQQI's 9.86% return.

BAGY

• 1D: -3.61%
• 1M: -18.40%
• YTD: -25.28%
• 6M: -25.26%
• 1Y: -38.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQI

• 1D: -2.87%
• 1M: -0.93%
• YTD: 9.86%
• 6M: 8.75%
• 1Y: 24.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BAGY vs. QQQI - Yearly Performance Comparison

	2026 (YTD)	2025
BAGY Amplify Bitcoin Max Income Covered Call ETF	-25.28%	-8.33%
QQQI NEOS Nasdaq-100 High Income ETF	9.86%	25.05%

Correlation

The correlation between BAGY and QQQI is 0.51, 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	0.51
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.51

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

Return for Risk

BAGY vs. QQQI — Risk / Return Rank

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

BAGY

BAGY Risk / Return Rank: 2
BAGY Sharpe Ratio Rank: 2
BAGY Sortino Ratio Rank: 2
BAGY Omega Ratio Rank: 2
BAGY Calmar Ratio Rank: 2
BAGY Martin Ratio Rank: 2

QQQI

QQQI Risk / Return Rank: 53
QQQI Sharpe Ratio Rank: 51
QQQI Sortino Ratio Rank: 47
QQQI Omega Ratio Rank: 52
QQQI Calmar Ratio Rank: 54
QQQI Martin Ratio Rank: 64

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.

BAGY vs. QQQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Bitcoin Max Income Covered Call ETF (BAGY) and NEOS Nasdaq-100 High Income ETF (QQQI). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BAGY	QQQI	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	1.69	-2.60
Sortino ratio: Return per unit of downside risk	-1.23	2.25	-3.49
Omega ratio: Gain probability vs. loss probability	0.86	1.32	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.78	2.60	-3.38
Martin ratio: Return relative to average drawdown	-1.37	11.10	-12.47

BAGY vs. QQQI - Sharpe Ratio Comparison

The current BAGY Sharpe Ratio is -0.90, which is lower than the QQQI Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of BAGY and QQQI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BAGY vs. QQQI - Drawdown Comparison

The maximum BAGY drawdown since its inception was -49.84%, which is greater than QQQI's maximum drawdown of -20.00%. Use the drawdown chart below to compare losses from any high point for BAGY and QQQI.

Drawdown Indicators

	BAGY	QQQI	Difference
Max Drawdown Largest peak-to-trough decline	-49.84%	-20.00%	-29.84%
Max Drawdown (1Y) Largest decline over 1 year	-49.84%	-9.61%	-40.23%
Current Drawdown Current decline from peak	-47.43%	-3.32%	-44.11%
Average Drawdown Average peak-to-trough decline	-20.76%	-2.20%	-18.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.33%	2.25%	+26.08%

Volatility

BAGY vs. QQQI - Volatility Comparison

Amplify Bitcoin Max Income Covered Call ETF (BAGY) has a higher volatility of 14.04% compared to NEOS Nasdaq-100 High Income ETF (QQQI) at 7.63%. This indicates that BAGY's price experiences larger fluctuations and is considered to be riskier than QQQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAGY	QQQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.04%	7.63%	+6.41%
Volatility (6M) Calculated over the trailing 6-month period	33.99%	11.99%	+22.00%
Volatility (1Y) Calculated over the trailing 1-year period	42.91%	14.79%	+28.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.30%	17.53%	+23.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.30%	17.53%	+23.77%

BAGY vs. QQQI - Expense Ratio Comparison

BAGY has a 0.65% expense ratio, which is lower than QQQI's 0.68% expense ratio.

Dividends

BAGY vs. QQQI - Dividend Comparison

BAGY's dividend yield for the trailing twelve months is around 60.88%, more than QQQI's 14.97% yield.

Position	TTM	2025	2024
BAGY Amplify Bitcoin Max Income Covered Call ETF	60.88%	30.16%	0.00%
QQQI NEOS Nasdaq-100 High Income ETF	14.97%	13.82%	12.85%

Frequently Asked Questions

Can I hold both BAGY and QQQI in my portfolio?

BAGY and QQQI have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BAGY or QQQI?

BAGY has higher volatility (14.04%) compared to QQQI (7.63%). In terms of maximum drawdown, BAGY dropped -49.84% vs QQQI's -20.00%.

Which ETF is better, BAGY or QQQI?

On 1-year performance, QQQI leads with 24.88% vs -38.64% for BAGY. On fees, BAGY is cheaper at 0.65% per year. On volatility, QQQI has been the lower-risk option at 7.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BAGY or QQQI?

Over the 1-year period, QQQI has performed better with a 24.88% return vs -38.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BAGY or QQQI?

BAGY is cheaper with a 0.65% expense ratio, compared with 0.68% for QQQI.

Which ETF pays a higher dividend yield, BAGY or QQQI?

BAGY has the higher dividend yield at 60.88%, compared with 14.97% for QQQI.

What is the main difference between BAGY and QQQI?

BAGY is categorized as Derivative Income, while QQQI is Nasdaq-100. They also come from different issuers: Amplify and Neos. Their fees differ too: 0.65% for BAGY and 0.68% for QQQI.

Which has better risk-adjusted returns?

QQQI currently has the higher Sharpe Ratio (1.69 vs -0.90), 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.