CDAY.NEO vs. QDTE

Last updated Jul 16, 2026

CDAY.NEO (Hamilton Enhanced Canadian Equity DayMAX ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, CDAY.NEO returned 36.81% vs 32.41% for QDTE. At a 0.31 correlation, their price movements are largely independent. CDAY.NEO charges 0.85%/yr vs 0.97%/yr for QDTE.

Performance

CDAY.NEO vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY.NEO) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CDAY.NEO is traded in CAD, while QDTE is traded in USD. To make them comparable, the QDTE values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CDAY.NEO achieves a 19.03% return, which is significantly higher than QDTE's 17.24% return.

CDAY.NEO

• 1D: -0.11%
• 1M: 2.25%
• 6M: 14.95%
• YTD: 19.03%
• 1Y: 36.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -0.86%
• 1M: -1.21%
• 6M: 14.63%
• YTD: 17.24%
• 1Y: 32.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CDAY.NEO vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025
CDAY.NEO Hamilton Enhanced Canadian Equity DayMAX ETF	19.03%	13.23%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	17.24%	13.30%

Correlation

The correlation between CDAY.NEO and QDTE is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.31

CDAY.NEO vs. QDTE - Sectors Allocation Comparison

Sectors	CDAY.NEO	QDTE
Financial Services	31.5%	5.3%
Industrials	14.0%	-
Basic Materials	13.1%	-
Energy	8.7%	-
Consumer Cyclical	8.4%	-
Communication Services	7.8%	-
Technology	6.9%	-
Consumer Defensive	3.9%	-
Utilities	3.7%	-
Healthcare	1.6%	-
Real Estate	0.4%	-

Return for Risk

CDAY.NEO vs. QDTE — Risk / Return Rank

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

CDAY.NEO

CDAY.NEO Risk / Return Rank: 92
CDAY.NEO Sharpe Ratio Rank: 95
CDAY.NEO Sortino Ratio Rank: 94
CDAY.NEO Omega Ratio Rank: 94
CDAY.NEO Calmar Ratio Rank: 86
CDAY.NEO Martin Ratio Rank: 92

QDTE

QDTE Risk / Return Rank: 66
QDTE Sharpe Ratio Rank: 65
QDTE Sortino Ratio Rank: 57
QDTE Omega Ratio Rank: 62
QDTE Calmar Ratio Rank: 71
QDTE Martin Ratio Rank: 74

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.

CDAY.NEO vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY.NEO) 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.

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.

	CDAY.NEO	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	2.98	1.86	+1.12
Sortino ratio: Return per unit of downside risk	3.92	2.45	+1.47
Omega ratio: Gain probability vs. loss probability	1.55	1.32	+0.23
Calmar ratio: Return relative to maximum drawdown	3.85	3.58	+0.27
Martin ratio: Return relative to average drawdown	17.39	12.14	+5.26

CDAY.NEO vs. QDTE - Sharpe Ratio Comparison

The current CDAY.NEO Sharpe Ratio is 2.98, which is higher than the QDTE Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of CDAY.NEO 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.

Drawdowns

CDAY.NEO vs. QDTE - Drawdown Comparison

The maximum CDAY.NEO drawdown since its inception was -9.65%, smaller than the maximum QDTE drawdown of -23.10%. Use the drawdown chart below to compare losses from any high point for CDAY.NEO and QDTE.

Drawdown Indicators

	CDAY.NEO	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-9.65%	-23.10%	+13.45%
Max Drawdown (1Y) Largest decline over 1 year	-9.65%	-9.11%	-0.54%
Current Drawdown Current decline from peak	-0.43%	-2.67%	+2.24%
Average Drawdown Average peak-to-trough decline	-1.22%	-3.44%	+2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.68%	—

Volatility

CDAY.NEO vs. QDTE - Volatility Comparison

The current volatility for Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY.NEO) is 2.53%, while Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 7.76%. This indicates that CDAY.NEO 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

	CDAY.NEO	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	7.76%	-5.23%
Volatility (6M) Calculated over the trailing 6-month period	10.60%	14.45%	-3.85%
Volatility (1Y) Calculated over the trailing 1-year period	12.57%	17.51%	-4.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.57%	19.60%	-7.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.57%	19.60%	-7.03%

CDAY.NEO vs. QDTE - Expense Ratio Comparison

CDAY.NEO has a 0.85% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

CDAY.NEO vs. QDTE - Dividend Comparison

CDAY.NEO's dividend yield for the trailing twelve months is around 14.79%, less than QDTE's 44.48% yield.

Position	TTM	2025	2024
CDAY.NEO Hamilton Enhanced Canadian Equity DayMAX ETF	14.79%	7.88%	0.00%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.48%	49.49%	32.09%

Frequently Asked Questions

Can I hold both CDAY.NEO and QDTE in my portfolio?

CDAY.NEO and QDTE have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CDAY.NEO or QDTE?

On fees, CDAY.NEO is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CDAY.NEO or QDTE?

CDAY.NEO is cheaper with a 0.85% expense ratio, compared with 0.97% for QDTE.

What is the main difference between CDAY.NEO and QDTE?

They also come from different issuers: Hamilton Capital and Roundhill. Their fees differ too: 0.85% for CDAY.NEO and 0.97% for QDTE.