FIVY vs. QDTE

Last updated Jun 25, 2026

FIVY (YieldMax Dorsey Wright Hybrid 5 Income ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both Derivative Income funds. FIVY is passively managed, while QDTE is actively managed. Over the past year, FIVY returned -8.80% vs 31.05% for QDTE. A 0.73 correlation means they provide meaningful diversification when combined. FIVY charges 0.88%/yr vs 0.97%/yr for QDTE.

Performance

FIVY vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Dorsey Wright Hybrid 5 Income ETF (FIVY) 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, FIVY achieves a -6.12% return, which is significantly lower than QDTE's 12.21% return.

FIVY

• 1D: 0.00%
• 1M: -1.85%
• YTD: -6.12%
• 6M: -8.33%
• 1Y: -8.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -0.36%
• 1M: -0.53%
• YTD: 12.21%
• 6M: 10.80%
• 1Y: 31.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FIVY vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FIVY YieldMax Dorsey Wright Hybrid 5 Income ETF	-6.12%	-1.07%	-10.55%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.21%	19.32%	-4.96%

Correlation

The correlation between FIVY and QDTE is 0.66, 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	0.66
Correlation (All Time) Calculated using the full available price history since Dec 17, 2024	0.73

The correlation between FIVY and QDTE has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.

FIVY vs. QDTE - Sectors Allocation Comparison

Sectors	FIVY	QDTE
Technology	44.7%	-
Communication Services	22.7%	-
Healthcare	16.5%	-
Financial Services	16.1%	5.4%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FIVY vs. QDTE — Risk / Return Rank

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

FIVY

FIVY Risk / Return Rank: 7
FIVY Sharpe Ratio Rank: 6
FIVY Sortino Ratio Rank: 7
FIVY Omega Ratio Rank: 7
FIVY Calmar Ratio Rank: 7
FIVY Martin Ratio Rank: 7

QDTE

QDTE Risk / Return Rank: 64
QDTE Sharpe Ratio Rank: 63
QDTE Sortino Ratio Rank: 56
QDTE Omega Ratio Rank: 62
QDTE Calmar Ratio Rank: 68
QDTE Martin Ratio Rank: 71

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.

FIVY vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Dorsey Wright Hybrid 5 Income ETF (FIVY) 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.

	FIVY	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	1.88	-2.16
Sortino ratio: Return per unit of downside risk	-0.18	2.41	-2.60
Omega ratio: Gain probability vs. loss probability	0.98	1.34	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.27	3.06	-3.33
Martin ratio: Return relative to average drawdown	-0.53	11.78	-12.31

FIVY vs. QDTE - Sharpe Ratio Comparison

The current FIVY Sharpe Ratio is -0.28, which is lower than the QDTE Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of FIVY 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

FIVY vs. QDTE - Drawdown Comparison

The maximum FIVY drawdown since its inception was -32.77%, which is greater than QDTE's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for FIVY and QDTE.

Drawdown Indicators

	FIVY	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-32.77%	-22.86%	-9.91%
Max Drawdown (1Y) Largest decline over 1 year	-32.77%	-10.20%	-22.57%
Current Drawdown Current decline from peak	-19.89%	-3.90%	-15.99%
Average Drawdown Average peak-to-trough decline	-13.67%	-3.13%	-10.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.60%	2.64%	+13.96%

Volatility

FIVY vs. QDTE - Volatility Comparison

YieldMax Dorsey Wright Hybrid 5 Income ETF (FIVY) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) have volatilities of 8.65% and 8.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIVY	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.65%	8.57%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	21.98%	13.27%	+8.71%
Volatility (1Y) Calculated over the trailing 1-year period	31.19%	16.66%	+14.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.82%	18.97%	+13.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.82%	18.97%	+13.85%

FIVY vs. QDTE - Expense Ratio Comparison

FIVY has a 0.88% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

FIVY vs. QDTE - Dividend Comparison

FIVY's dividend yield for the trailing twelve months is around 47.61%, more than QDTE's 44.39% yield.

Position	TTM	2025	2024
FIVY YieldMax Dorsey Wright Hybrid 5 Income ETF	47.61%	46.51%	0.00%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.39%	49.49%	32.09%

Frequently Asked Questions

Can I hold both FIVY and QDTE in my portfolio?

FIVY and QDTE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIVY or QDTE?

FIVY has higher volatility (8.65%) compared to QDTE (8.57%). In terms of maximum drawdown, FIVY dropped -32.77% vs QDTE's -22.86%.

Which ETF is better, FIVY or QDTE?

On 1-year performance, QDTE leads with 31.05% vs -8.80% for FIVY. On fees, FIVY is cheaper at 0.88% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIVY or QDTE?

Over the 1-year period, QDTE has performed better with a 31.05% return vs -8.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIVY or QDTE?

FIVY is cheaper with a 0.88% expense ratio, compared with 0.97% for QDTE.

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

FIVY has the higher dividend yield at 47.61%, compared with 44.39% for QDTE.

What is the main difference between FIVY and QDTE?

They also come from different issuers: YieldMax and Roundhill. Their fees differ too: 0.88% for FIVY and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (1.88 vs -0.28), 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.