DSPY.DE vs. QQQY

Last updated Jun 26, 2026

DSPY.DE (IncomeShares S&P500 Options (0DTE) ETP EUR) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - DSPY.DE is a Derivative Income fund actively managed by Leverage Shares, while QQQY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Over the past year, DSPY.DE returned 12.36% vs 31.66% for QQQY. At a 0.48 correlation, their price movements are largely independent. DSPY.DE charges 0.45%/yr vs 0.99%/yr for QQQY.

Performance

DSPY.DE vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in IncomeShares S&P500 Options (0DTE) ETP EUR (DSPY.DE) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DSPY.DE is traded in EUR, while QQQY is traded in USD. To make them comparable, the QQQY values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, DSPY.DE achieves a -2.57% return, which is significantly lower than QQQY's 19.02% return.

DSPY.DE

• 1D: 0.00%
• 1M: 0.54%
• YTD: -2.57%
• 6M: -2.17%
• 1Y: 12.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQY

• 1D: 0.69%
• 1M: 0.55%
• YTD: 19.02%
• 6M: 17.98%
• 1Y: 31.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DSPY.DE vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DSPY.DE IncomeShares S&P500 Options (0DTE) ETP EUR	-2.57%	6.50%	-0.75%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	19.02%	1.32%	-1.30%

Correlation

The correlation between DSPY.DE and QQQY is 0.52, 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	0.52
Correlation (All Time) Calculated using the full available price history since Nov 15, 2024	0.48

The correlation between DSPY.DE and QQQY has been stable across timeframes, ranging from 0.48 to 0.52 - a consistent structural relationship.

Return for Risk

DSPY.DE vs. QQQY — Risk / Return Rank

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

DSPY.DE

DSPY.DE Risk / Return Rank: 19
DSPY.DE Sharpe Ratio Rank: 17
DSPY.DE Sortino Ratio Rank: 17
DSPY.DE Omega Ratio Rank: 30
DSPY.DE Calmar Ratio Rank: 15
DSPY.DE Martin Ratio Rank: 13

QQQY

QQQY Risk / Return Rank: 62
QQQY Sharpe Ratio Rank: 64
QQQY Sortino Ratio Rank: 56
QQQY Omega Ratio Rank: 66
QQQY Calmar Ratio Rank: 60
QQQY Martin Ratio Rank: 65

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.

DSPY.DE vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IncomeShares S&P500 Options (0DTE) ETP EUR (DSPY.DE) 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.

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.

	DSPY.DE	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	0.50	2.00	-1.50
Sortino ratio: Return per unit of downside risk	0.90	2.50	-1.60
Omega ratio: Gain probability vs. loss probability	1.19	1.37	-0.18
Calmar ratio: Return relative to maximum drawdown	0.51	3.37	-2.86
Martin ratio: Return relative to average drawdown	0.95	10.80	-9.85

DSPY.DE vs. QQQY - Sharpe Ratio Comparison

The current DSPY.DE Sharpe Ratio is 0.50, which is lower than the QQQY Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of DSPY.DE 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.

Drawdowns

DSPY.DE vs. QQQY - Drawdown Comparison

The maximum DSPY.DE drawdown since its inception was -24.16%, smaller than the maximum QQQY drawdown of -25.54%. Use the drawdown chart below to compare losses from any high point for DSPY.DE and QQQY.

Drawdown Indicators

	DSPY.DE	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-24.16%	-25.54%	+1.38%
Max Drawdown (1Y) Largest decline over 1 year	-24.16%	-9.44%	-14.72%
Current Drawdown Current decline from peak	-14.93%	-2.30%	-12.63%
Average Drawdown Average peak-to-trough decline	-10.11%	-4.41%	-5.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.00%	2.94%	+10.06%

Volatility

DSPY.DE vs. QQQY - Volatility Comparison

The current volatility for IncomeShares S&P500 Options (0DTE) ETP EUR (DSPY.DE) is 2.81%, while Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a volatility of 7.62%. This indicates that DSPY.DE experiences smaller price fluctuations and is considered to be less risky than QQQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DSPY.DE	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	7.62%	-4.81%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	12.66%	-3.11%
Volatility (1Y) Calculated over the trailing 1-year period	24.49%	15.88%	+8.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.45%	16.55%	+11.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.45%	16.55%	+11.90%

DSPY.DE vs. QQQY - Expense Ratio Comparison

DSPY.DE has a 0.45% expense ratio, which is lower than QQQY's 0.99% expense ratio.

Dividends

DSPY.DE vs. QQQY - Dividend Comparison

DSPY.DE's dividend yield for the trailing twelve months is around 38.44%, more than QQQY's 36.24% yield.

Position	TTM	2025	2024	2023
DSPY.DE IncomeShares S&P500 Options (0DTE) ETP EUR	38.44%	90.77%	0.00%	0.00%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	36.24%	45.34%	83.34%	20.64%

Frequently Asked Questions

Can I hold both DSPY.DE and QQQY in my portfolio?

DSPY.DE and QQQY have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DSPY.DE or QQQY?

On fees, DSPY.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DSPY.DE or QQQY?

DSPY.DE is cheaper with a 0.45% expense ratio, compared with 0.99% for QQQY.

What is the main difference between DSPY.DE and QQQY?

DSPY.DE is categorized as Derivative Income, while QQQY is Nasdaq-100. They also come from different issuers: Leverage Shares and Defiance. Their fees differ too: 0.45% for DSPY.DE and 0.99% for QQQY.