IQQQ vs. QDTE

Last updated Jun 28, 2026

IQQQ (ProShares Nasdaq-100 High Income ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index, while QDTE is a Derivative Income fund actively managed by Roundhill. IQQQ is passively managed, while QDTE is actively managed. Over the past year, IQQQ returned 26.55% vs 28.86% for QDTE. With a 0.97 correlation, they move nearly in lockstep. IQQQ charges 0.55%/yr vs 0.97%/yr for QDTE.

Performance

IQQQ vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nasdaq-100 High Income ETF (IQQQ) 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, IQQQ achieves a 12.97% return, which is significantly higher than QDTE's 12.12% return.

IQQQ

• 1D: -0.86%
• 1M: -4.09%
• YTD: 12.97%
• 6M: 11.34%
• 1Y: 26.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -1.21%
• 1M: -3.22%
• YTD: 12.12%
• 6M: 10.78%
• 1Y: 28.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IQQQ vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IQQQ ProShares Nasdaq-100 High Income ETF	12.97%	17.11%	14.82%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.12%	19.32%	18.15%

Correlation

The correlation between IQQQ and QDTE is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024	0.97

The correlation between IQQQ and QDTE has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

IQQQ vs. QDTE — Risk / Return Rank

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

IQQQ

IQQQ Risk / Return Rank: 51
IQQQ Sharpe Ratio Rank: 52
IQQQ Sortino Ratio Rank: 47
IQQQ Omega Ratio Rank: 48
IQQQ Calmar Ratio Rank: 56
IQQQ Martin Ratio Rank: 53

QDTE

QDTE Risk / Return Rank: 61
QDTE Sharpe Ratio Rank: 60
QDTE Sortino Ratio Rank: 53
QDTE Omega Ratio Rank: 58
QDTE Calmar Ratio Rank: 66
QDTE Martin Ratio Rank: 69

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.

IQQQ vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 High Income ETF (IQQQ) 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.

	IQQQ	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.77	-0.17
Sortino ratio: Return per unit of downside risk	2.12	2.30	-0.17
Omega ratio: Gain probability vs. loss probability	1.28	1.32	-0.04
Calmar ratio: Return relative to maximum drawdown	2.45	2.90	-0.45
Martin ratio: Return relative to average drawdown	8.28	11.08	-2.80

IQQQ vs. QDTE - Sharpe Ratio Comparison

The current IQQQ Sharpe Ratio is 1.60, which is comparable to the QDTE Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of IQQQ 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

IQQQ vs. QDTE - Drawdown Comparison

The maximum IQQQ drawdown since its inception was -20.41%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for IQQQ and QDTE.

Drawdown Indicators

	IQQQ	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-20.41%	-22.86%	+2.45%
Max Drawdown (1Y) Largest decline over 1 year	-11.13%	-10.20%	-0.93%
Current Drawdown Current decline from peak	-5.13%	-3.97%	-1.16%
Average Drawdown Average peak-to-trough decline	-3.63%	-3.13%	-0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	2.66%	+0.62%

Volatility

IQQQ vs. QDTE - Volatility Comparison

ProShares Nasdaq-100 High Income ETF (IQQQ) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) have volatilities of 8.24% and 8.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQQQ	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.24%	8.55%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	13.60%	13.35%	+0.25%
Volatility (1Y) Calculated over the trailing 1-year period	17.03%	16.68%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.05%	18.97%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.05%	18.97%	+0.08%

IQQQ vs. QDTE - Expense Ratio Comparison

IQQQ has a 0.55% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

IQQQ vs. QDTE - Dividend Comparison

IQQQ's dividend yield for the trailing twelve months is around 4.65%, less than QDTE's 44.73% yield.

Position	TTM	2025	2024
IQQQ ProShares Nasdaq-100 High Income ETF	4.65%	10.34%	7.27%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.73%	49.49%	32.09%

Frequently Asked Questions

Can I hold both IQQQ and QDTE in my portfolio?

With a correlation of 0.97, IQQQ and QDTE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IQQQ or QDTE?

QDTE has higher volatility (8.55%) compared to IQQQ (8.24%). In terms of maximum drawdown, IQQQ dropped -20.41% vs QDTE's -22.86%.

Which ETF is better, IQQQ or QDTE?

On 1-year performance, QDTE leads with 28.86% vs 26.55% for IQQQ. On fees, IQQQ is cheaper at 0.55% per year. On volatility, IQQQ has been the lower-risk option at 8.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IQQQ or QDTE?

Over the 1-year period, QDTE has performed better with a 28.86% return vs 26.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IQQQ or QDTE?

IQQQ is cheaper with a 0.55% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 44.73%, compared with 4.65% for IQQQ.

What is the main difference between IQQQ and QDTE?

IQQQ is categorized as Nasdaq-100, while QDTE is Derivative Income. They also come from different issuers: ProShares and Roundhill. Their fees differ too: 0.55% for IQQQ and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (1.77 vs 1.60), 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.