HOOW vs. QLDY

Last updated Jul 17, 2026

HOOW (Roundhill HOOD WeeklyPay ETF) and QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) are both exchange-traded funds - HOOW is a Leveraged Equities fund actively managed by Roundhill, while QLDY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. A 0.58 correlation means they provide meaningful diversification when combined. HOOW charges 0.99%/yr vs 1.04%/yr for QLDY.

Performance

HOOW vs. QLDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill HOOD WeeklyPay ETF (HOOW) 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, HOOW achieves a -12.18% return, which is significantly lower than QLDY's 9.82% return.

HOOW

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

QLDY

• 1D: -2.11%
• 1M: -4.71%
• 6M: 8.93%
• YTD: 9.82%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HOOW vs. QLDY - Yearly Performance Comparison

	2026 (YTD)	2025
HOOW Roundhill HOOD WeeklyPay ETF	-12.18%	-8.82%
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	9.82%	1.54%

Correlation

The correlation between HOOW and QLDY is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025	0.58

Return for Risk

HOOW vs. QLDY — 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

QLDY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. QLDY - Risk-Adjusted Trends Comparison

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

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	QLDY	Difference
Sharpe ratio: Return per unit of total volatility	-0.08	—	—
Sortino ratio: Return per unit of downside risk	0.49	—	—
Omega ratio: Gain probability vs. loss probability	1.06	—	—
Calmar ratio: Return relative to maximum drawdown	-0.11	—	—
Martin ratio: Return relative to average drawdown	-0.18	—	—

Drawdowns

HOOW vs. QLDY - Drawdown Comparison

The maximum HOOW drawdown since its inception was -65.74%, which is greater than QLDY's maximum drawdown of -17.44%. Use the drawdown chart below to compare losses from any high point for HOOW and QLDY.

Drawdown Indicators

	HOOW	QLDY	Difference
Max Drawdown Largest peak-to-trough decline	-65.74%	-17.44%	-48.30%
Max Drawdown (1Y) Largest decline over 1 year	-65.74%	—	—
Current Drawdown Current decline from peak	-40.36%	-7.90%	-32.46%
Average Drawdown Average peak-to-trough decline	-30.49%	-4.35%	-26.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.31%	—	—

Volatility

Volatility by Period

	HOOW	QLDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	64.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	84.21%	21.84%	+62.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.98%	21.84%	+62.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.98%	21.84%	+62.14%

HOOW vs. QLDY - Expense Ratio Comparison

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

Dividends

HOOW vs. QLDY - Dividend Comparison

HOOW's dividend yield for the trailing twelve months is around 133.11%, more than QLDY's 28.28% yield.

Position	TTM	2025
HOOW Roundhill HOOD WeeklyPay ETF	133.11%	67.92%
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	28.28%	9.34%

Frequently Asked Questions

Can I hold both HOOW and QLDY in my portfolio?

HOOW and QLDY have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HOOW or QLDY?

On fees, HOOW 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, HOOW or QLDY?

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

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

HOOW has the higher dividend yield at 133.11%, compared with 28.28% for QLDY.

What is the main difference between HOOW and QLDY?

HOOW is categorized as Leveraged Equities, while QLDY is Nasdaq-100. They also come from different issuers: Roundhill and Defiance. Their fees differ too: 0.99% for HOOW and 1.04% for QLDY.