GPTY vs. QLDY

Last updated Jun 4, 2026

GPTY (YieldMax AI & Tech Portfolio Option Income ETF) and QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) are both exchange-traded funds - GPTY is a Derivative Income fund actively managed by YieldMax, while QLDY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Their correlation of 0.88 suggests significant overlap in exposure. GPTY charges 0.99%/yr vs 1.04%/yr for QLDY.

Performance

GPTY vs. QLDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax AI & Tech Portfolio Option Income ETF (GPTY) and Defiance Nasdaq 100 LightningSpread Income ETF (QLDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPTY achieves a 36.39% return, which is significantly higher than QLDY's 19.28% return.

GPTY

• 1D: -1.40%
• 1M: 19.04%
• YTD: 36.39%
• 6M: 32.30%
• 1Y: 55.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLDY

• 1D: 0.03%
• 1M: 11.63%
• YTD: 19.28%
• 6M: 16.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GPTY vs. QLDY - Yearly Performance Comparison

	2026 (YTD)	2025
GPTY YieldMax AI & Tech Portfolio Option Income ETF	36.39%	1.33%
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	19.28%	1.50%

Correlation

The correlation between GPTY and QLDY is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 19, 2025	0.88

Return for Risk

GPTY vs. QLDY — Risk / Return Rank

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

GPTY

GPTY Risk / Return Rank: 60
GPTY Sharpe Ratio Rank: 70
GPTY Sortino Ratio Rank: 62
GPTY Omega Ratio Rank: 64
GPTY Calmar Ratio Rank: 57
GPTY Martin Ratio Rank: 46

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.

GPTY vs. QLDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AI & Tech Portfolio Option Income ETF (GPTY) and Defiance Nasdaq 100 LightningSpread Income ETF (QLDY). 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.

	GPTY	QLDY	Difference
Sharpe ratio: Return per unit of total volatility	2.33	—	—
Sortino ratio: Return per unit of downside risk	2.98	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	2.87	—	—
Martin ratio: Return relative to average drawdown	7.65	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GPTY	QLDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.44	1.60	-0.17

Drawdowns

GPTY vs. QLDY - Drawdown Comparison

The maximum GPTY drawdown since its inception was -26.62%, which is greater than QLDY's maximum drawdown of -17.44%. Use the drawdown chart below to compare losses from any high point for GPTY and QLDY.

Drawdown Indicators

	GPTY	QLDY	Difference
Max Drawdown Largest peak-to-trough decline	-26.62%	-17.44%	-9.18%
Max Drawdown (1Y) Largest decline over 1 year	-19.32%	—	—
Current Drawdown Current decline from peak	-1.40%	0.00%	-1.40%
Average Drawdown Average peak-to-trough decline	-6.52%	-4.25%	-2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.23%	—	—

Volatility

Volatility by Period

	GPTY	QLDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.41%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.19%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.95%	19.57%	+4.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.85%	19.57%	+9.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.85%	19.57%	+9.28%

GPTY vs. QLDY - Expense Ratio Comparison

GPTY has a 0.99% expense ratio, which is lower than QLDY's 1.04% expense ratio.

Dividends

GPTY vs. QLDY - Dividend Comparison

GPTY's dividend yield for the trailing twelve months is around 32.54%, more than QLDY's 21.47% yield.

Position	TTM	2025
GPTY YieldMax AI & Tech Portfolio Option Income ETF	32.54%	34.23%
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	21.47%	9.34%

Frequently Asked Questions

Can I hold both GPTY and QLDY in my portfolio?

GPTY and QLDY have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GPTY or QLDY?

On fees, GPTY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GPTY or QLDY?

GPTY is cheaper with a 0.99% expense ratio, compared with 1.04% for QLDY.

Which ETF pays a higher dividend yield, GPTY or QLDY?

GPTY has the higher dividend yield at 32.54%, compared with 21.47% for QLDY.

What is the main difference between GPTY and QLDY?

GPTY is categorized as Derivative Income, while QLDY is Nasdaq-100. They also come from different issuers: YieldMax and Defiance. Their fees differ too: 0.99% for GPTY and 1.04% for QLDY.