ISEM.L vs. QQQO.L

Last updated Jun 5, 2026

ISEM.L (IncomeShares Semiconductors Leaders ETP) and QQQO.L (IncomeShares Nasdaq 100 Options (0DTE) ETP GBP) are both exchange-traded funds - ISEM.L is a Derivative Income fund tracking the LS Semiconductors Leaders Income Strategy, while QQQO.L is a Nasdaq-100 fund actively managed by Leverage Shares. ISEM.L is passively managed, while QQQO.L is actively managed. At a 0.42 correlation, their price movements are largely independent. Both charge a 0.45% expense ratio.

Performance

ISEM.L vs. QQQO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in IncomeShares Semiconductors Leaders ETP (ISEM.L) and IncomeShares Nasdaq 100 Options (0DTE) ETP GBP (QQQO.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ISEM.L

• 1D: -1.88%
• 1M: 25.80%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQO.L

• 1D: -0.66%
• 1M: 6.84%
• YTD: 15.53%
• 6M: 14.50%
• 1Y: 33.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ISEM.L vs. QQQO.L - Yearly Performance Comparison

	2026 (YTD)
ISEM.L IncomeShares Semiconductors Leaders ETP	54.74%
QQQO.L IncomeShares Nasdaq 100 Options (0DTE) ETP GBP	18.58%

Correlation

The correlation between ISEM.L and QQQO.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 27, 2026	0.42

Return for Risk

ISEM.L vs. QQQO.L — Risk / Return Rank

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

QQQO.L

QQQO.L Risk / Return Rank: 73
QQQO.L Sharpe Ratio Rank: 74
QQQO.L Sortino Ratio Rank: 66
QQQO.L Omega Ratio Rank: 79
QQQO.L Calmar Ratio Rank: 86
QQQO.L Martin Ratio Rank: 63

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.

ISEM.L vs. QQQO.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IncomeShares Semiconductors Leaders ETP (ISEM.L) and IncomeShares Nasdaq 100 Options (0DTE) ETP GBP (QQQO.L). 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.

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

Sharpe Ratios by Period

	ISEM.L	QQQO.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	25.95	1.18	+24.77

Drawdowns

ISEM.L vs. QQQO.L - Drawdown Comparison

The maximum ISEM.L drawdown since its inception was -6.35%, smaller than the maximum QQQO.L drawdown of -21.70%. Use the drawdown chart below to compare losses from any high point for ISEM.L and QQQO.L.

Drawdown Indicators

	ISEM.L	QQQO.L	Difference
Max Drawdown Largest peak-to-trough decline	-6.35%	-21.70%	+15.35%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.04%	—
Current Drawdown Current decline from peak	-1.88%	-0.66%	-1.22%
Average Drawdown Average peak-to-trough decline	-0.98%	-4.40%	+3.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.95%	—

Volatility

Volatility by Period

	ISEM.L	QQQO.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.90%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.93%	—
Volatility (1Y) Calculated over the trailing 1-year period	41.02%	14.00%	+27.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.02%	17.34%	+23.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.02%	17.34%	+23.68%

ISEM.L vs. QQQO.L - Expense Ratio Comparison

Both ISEM.L and QQQO.L have an expense ratio of 0.45%.

Dividends

ISEM.L vs. QQQO.L - Dividend Comparison

ISEM.L's dividend yield for the trailing twelve months is around 14.10%, less than QQQO.L's 67.52% yield.

Position	TTM	2025	2024
ISEM.L IncomeShares Semiconductors Leaders ETP	14.10%	0.00%	0.00%
QQQO.L IncomeShares Nasdaq 100 Options (0DTE) ETP GBP	67.52%	124.53%	17.93%

Frequently Asked Questions

Can I hold both ISEM.L and QQQO.L in my portfolio?

ISEM.L and QQQO.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ISEM.L or QQQO.L?

Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ISEM.L or QQQO.L?

ISEM.L and QQQO.L have the same expense ratio: 0.45% per year.

What is the main difference between ISEM.L and QQQO.L?

ISEM.L is categorized as Derivative Income, while QQQO.L is Nasdaq-100. They also come from different issuers: IncomeShares and Leverage Shares.