GDXY vs. QDTE

Last updated Jun 14, 2026

GDXY (YieldMax Gold Miners Option Income Strategy ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - GDXY is a Gold fund actively managed by YieldMax, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, GDXY returned 20.95% vs 35.38% for QDTE. At a 0.26 correlation, their price movements are largely independent. GDXY charges 1.08%/yr vs 0.97%/yr for QDTE.

Performance

GDXY vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Gold Miners Option Income Strategy ETF (GDXY) 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, GDXY achieves a -12.32% return, which is significantly lower than QDTE's 12.97% return.

GDXY

• 1D: 2.43%
• 1M: -8.59%
• YTD: -12.32%
• 6M: -11.68%
• 1Y: 20.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: 0.79%
• 1M: 1.25%
• YTD: 12.97%
• 6M: 13.97%
• 1Y: 35.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDXY vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GDXY YieldMax Gold Miners Option Income Strategy ETF	-12.32%	88.08%	-11.84%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.97%	19.32%	14.35%

Correlation

The correlation between GDXY and QDTE is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since May 21, 2024	0.26

The correlation between GDXY and QDTE shifts across timeframes, from 0.26 (all time) to 0.36 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GDXY vs. QDTE — Risk / Return Rank

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

GDXY

GDXY Risk / Return Rank: 20
GDXY Sharpe Ratio Rank: 20
GDXY Sortino Ratio Rank: 19
GDXY Omega Ratio Rank: 22
GDXY Calmar Ratio Rank: 18
GDXY Martin Ratio Rank: 19

QDTE

QDTE Risk / Return Rank: 75
QDTE Sharpe Ratio Rank: 77
QDTE Sortino Ratio Rank: 69
QDTE Omega Ratio Rank: 74
QDTE Calmar Ratio Rank: 75
QDTE Martin Ratio Rank: 78

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.

GDXY vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Gold Miners Option Income Strategy ETF (GDXY) 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.

	GDXY	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	0.58	2.12	-1.54
Sortino ratio: Return per unit of downside risk	0.92	2.69	-1.77
Omega ratio: Gain probability vs. loss probability	1.13	1.38	-0.24
Calmar ratio: Return relative to maximum drawdown	0.65	3.33	-2.68
Martin ratio: Return relative to average drawdown	1.83	12.94	-11.11

GDXY vs. QDTE - Sharpe Ratio Comparison

The current GDXY Sharpe Ratio is 0.58, which is lower than the QDTE Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of GDXY 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

GDXY vs. QDTE - Drawdown Comparison

The maximum GDXY drawdown since its inception was -34.16%, which is greater than QDTE's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for GDXY and QDTE.

Drawdown Indicators

	GDXY	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-34.16%	-22.86%	-11.30%
Max Drawdown (1Y) Largest decline over 1 year	-34.16%	-10.20%	-23.96%
Current Drawdown Current decline from peak	-29.61%	-3.24%	-26.37%
Average Drawdown Average peak-to-trough decline	-6.72%	-3.15%	-3.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.05%	2.62%	+9.43%

Volatility

GDXY vs. QDTE - Volatility Comparison

YieldMax Gold Miners Option Income Strategy ETF (GDXY) has a higher volatility of 14.51% compared to Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) at 7.09%. This indicates that GDXY's price experiences larger fluctuations and is considered to be riskier than QDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXY	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.51%	7.09%	+7.42%
Volatility (6M) Calculated over the trailing 6-month period	32.60%	12.66%	+19.94%
Volatility (1Y) Calculated over the trailing 1-year period	38.00%	15.99%	+22.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.36%	18.77%	+13.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.36%	18.77%	+13.59%

GDXY vs. QDTE - Expense Ratio Comparison

GDXY has a 1.08% expense ratio, which is higher than QDTE's 0.97% expense ratio.

Dividends

GDXY vs. QDTE - Dividend Comparison

GDXY's dividend yield for the trailing twelve months is around 82.04%, more than QDTE's 44.17% yield.

Position	TTM	2025	2024
GDXY YieldMax Gold Miners Option Income Strategy ETF	82.04%	52.13%	23.91%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.17%	49.49%	32.09%

Frequently Asked Questions

Can I hold both GDXY and QDTE in my portfolio?

GDXY and QDTE have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDXY or QDTE?

GDXY has higher volatility (14.51%) compared to QDTE (7.09%). In terms of maximum drawdown, GDXY dropped -34.16% vs QDTE's -22.86%.

Which ETF is better, GDXY or QDTE?

On 1-year performance, QDTE leads with 35.38% vs 20.95% for GDXY. On fees, QDTE is cheaper at 0.97% per year. On volatility, QDTE has been the lower-risk option at 7.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXY or QDTE?

Over the 1-year period, QDTE has performed better with a 35.38% return vs 20.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXY or QDTE?

QDTE is cheaper with a 0.97% expense ratio, compared with 1.08% for GDXY.

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

GDXY has the higher dividend yield at 82.04%, compared with 44.17% for QDTE.

What is the main difference between GDXY and QDTE?

GDXY is categorized as Gold, while QDTE is Derivative Income. They also come from different issuers: YieldMax and Roundhill. Their fees differ too: 1.08% for GDXY and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.12 vs 0.58), 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.