IQMM vs. WDTE

Last updated Jun 23, 2026

IQMM (ProShares GENIUS Money Market ETF) and WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) are both exchange-traded funds - IQMM is a Money Market fund actively managed by ProShares, while WDTE is a Derivative Income fund actively managed by Defiance. Both are actively managed. At a correlation of -0.25, they often move in opposite directions. IQMM charges 0.15%/yr vs 1.01%/yr for WDTE.

Performance

IQMM vs. WDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares GENIUS Money Market ETF (IQMM) and Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IQMM

• 1D: 0.01%
• 1M: 0.26%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

WDTE

• 1D: -0.09%
• 1M: -0.26%
• YTD: 9.31%
• 6M: 9.03%
• 1Y: 21.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IQMM vs. WDTE - Yearly Performance Comparison

	2026 (YTD)
IQMM ProShares GENIUS Money Market ETF	1.20%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	8.48%

Correlation

The correlation between IQMM and WDTE is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 19, 2026	-0.25

Return for Risk

IQMM vs. WDTE — Risk / Return Rank

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

IQMM

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

WDTE

WDTE Risk / Return Rank: 63
WDTE Sharpe Ratio Rank: 61
WDTE Sortino Ratio Rank: 56
WDTE Omega Ratio Rank: 67
WDTE Calmar Ratio Rank: 58
WDTE Martin Ratio Rank: 72

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.

IQMM vs. WDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares GENIUS Money Market ETF (IQMM) and Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE). 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.

	IQMM	WDTE	Difference
Sharpe ratio: Return per unit of total volatility	—	1.98	—
Sortino ratio: Return per unit of downside risk	—	2.59	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	2.81	—
Martin ratio: Return relative to average drawdown	—	13.06	—

Drawdowns

IQMM vs. WDTE - Drawdown Comparison

The maximum IQMM drawdown since its inception was -0.02%, smaller than the maximum WDTE drawdown of -15.85%. Use the drawdown chart below to compare losses from any high point for IQMM and WDTE.

Drawdown Indicators

	IQMM	WDTE	Difference
Max Drawdown Largest peak-to-trough decline	-0.02%	-15.85%	+15.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.65%	—
Current Drawdown Current decline from peak	0.00%	-1.68%	+1.68%
Average Drawdown Average peak-to-trough decline	-0.00%	-1.83%	+1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.64%	—

Volatility

Volatility by Period

	IQMM	WDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.24%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.21%	10.90%	-10.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.21%	11.49%	-11.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.21%	11.49%	-11.28%

IQMM vs. WDTE - Expense Ratio Comparison

IQMM has a 0.15% expense ratio, which is lower than WDTE's 1.01% expense ratio.

Dividends

IQMM vs. WDTE - Dividend Comparison

IQMM's dividend yield for the trailing twelve months is around 1.08%, less than WDTE's 32.54% yield.

Position	TTM	2025	2024	2023
IQMM ProShares GENIUS Money Market ETF	1.08%	0.00%	0.00%	0.00%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	32.54%	35.78%	51.80%	16.41%

Frequently Asked Questions

Can I hold both IQMM and WDTE in my portfolio?

IQMM and WDTE have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IQMM or WDTE?

On fees, IQMM is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IQMM or WDTE?

IQMM is cheaper with a 0.15% expense ratio, compared with 1.01% for WDTE.

Which ETF pays a higher dividend yield, IQMM or WDTE?

WDTE has the higher dividend yield at 32.54%, compared with 1.08% for IQMM.

What is the main difference between IQMM and WDTE?

IQMM is categorized as Money Market, while WDTE is Derivative Income. They also come from different issuers: ProShares and Defiance. Their fees differ too: 0.15% for IQMM and 1.01% for WDTE.