HOOW vs. QDTE

Last updated Jul 17, 2026

HOOW (Roundhill HOOD WeeklyPay ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - HOOW is a Leveraged Equities fund actively managed by Roundhill, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, HOOW returned -6.96% vs 26.73% for QDTE. A 0.54 correlation means they provide meaningful diversification when combined. HOOW charges 0.99%/yr vs 0.97%/yr for QDTE.

Performance

HOOW vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill HOOD WeeklyPay ETF (HOOW) 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, HOOW achieves a -12.18% return, which is significantly lower than QDTE's 12.40% return.

HOOW

• 1D: -9.53%
• 1M: 10.78%
• 6M: -9.72%
• YTD: -12.18%
• 1Y: -6.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -1.63%
• 1M: -1.88%
• 6M: 11.11%
• YTD: 12.40%
• 1Y: 26.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HOOW vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025
HOOW Roundhill HOOD WeeklyPay ETF	-12.18%	52.60%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.40%	19.25%

Correlation

The correlation between HOOW and QDTE is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.54

The correlation between HOOW and QDTE has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.

HOOW vs. QDTE - Sectors Allocation Comparison

Sectors	HOOW	QDTE
Financial Services	3.5%	5.3%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

HOOW vs. QDTE — Risk / Return Rank

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

HOOW

HOOW Risk / Return Rank: 10
HOOW Sharpe Ratio Rank: 9
HOOW Sortino Ratio Rank: 13
HOOW Omega Ratio Rank: 13
HOOW Calmar Ratio Rank: 8
HOOW Martin Ratio Rank: 8

QDTE

QDTE Risk / Return Rank: 59
QDTE Sharpe Ratio Rank: 56
QDTE Sortino Ratio Rank: 51
QDTE Omega Ratio Rank: 54
QDTE Calmar Ratio Rank: 65
QDTE Martin Ratio Rank: 68

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.

HOOW vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill HOOD WeeklyPay ETF (HOOW) 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.

	HOOW	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	-0.08	1.55	-1.63
Sortino ratio: Return per unit of downside risk	0.49	2.04	-1.55
Omega ratio: Gain probability vs. loss probability	1.06	1.27	-0.22
Calmar ratio: Return relative to maximum drawdown	-0.11	2.63	-2.74
Martin ratio: Return relative to average drawdown	-0.18	9.81	-9.99

HOOW vs. QDTE - Sharpe Ratio Comparison

The current HOOW Sharpe Ratio is -0.08, which is lower than the QDTE Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of HOOW 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

HOOW vs. QDTE - Drawdown Comparison

The maximum HOOW drawdown since its inception was -65.74%, which is greater than QDTE's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for HOOW and QDTE.

Drawdown Indicators

	HOOW	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-65.74%	-22.86%	-42.88%
Max Drawdown (1Y) Largest decline over 1 year	-65.74%	-10.20%	-55.54%
Current Drawdown Current decline from peak	-40.36%	-3.74%	-36.62%
Average Drawdown Average peak-to-trough decline	-30.49%	-3.12%	-27.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.31%	2.73%	+36.58%

Volatility

HOOW vs. QDTE - Volatility Comparison

Roundhill HOOD WeeklyPay ETF (HOOW) has a higher volatility of 24.01% compared to Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) at 7.02%. This indicates that HOOW'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

	HOOW	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.01%	7.02%	+16.99%
Volatility (6M) Calculated over the trailing 6-month period	64.40%	14.19%	+50.21%
Volatility (1Y) Calculated over the trailing 1-year period	84.21%	17.35%	+66.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.98%	19.06%	+64.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.98%	19.06%	+64.92%

HOOW vs. QDTE - Expense Ratio Comparison

HOOW has a 0.99% expense ratio, which is higher than QDTE's 0.97% expense ratio.

Dividends

HOOW vs. QDTE - Dividend Comparison

HOOW's dividend yield for the trailing twelve months is around 133.11%, more than QDTE's 46.23% yield.

Position	TTM	2025	2024
HOOW Roundhill HOOD WeeklyPay ETF	133.11%	67.92%	0.00%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	46.23%	49.49%	32.09%

Frequently Asked Questions

Can I hold both HOOW and QDTE in my portfolio?

HOOW and QDTE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOOW or QDTE?

HOOW has higher volatility (24.01%) compared to QDTE (7.02%). In terms of maximum drawdown, HOOW dropped -65.74% vs QDTE's -22.86%.

Which ETF is better, HOOW or QDTE?

On 1-year performance, QDTE leads with 26.73% vs -6.96% for HOOW. On fees, QDTE is cheaper at 0.97% per year. On volatility, QDTE has been the lower-risk option at 7.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HOOW or QDTE?

Over the 1-year period, QDTE has performed better with a 26.73% return vs -6.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOW or QDTE?

QDTE is cheaper with a 0.97% expense ratio, compared with 0.99% for HOOW.

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

HOOW has the higher dividend yield at 133.11%, compared with 46.23% for QDTE.

What is the main difference between HOOW and QDTE?

HOOW is categorized as Leveraged Equities, while QDTE is Derivative Income. Their fees differ too: 0.99% for HOOW and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (1.55 vs -0.08), 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.