ISWN vs. QDTE

Last updated Jun 4, 2026

ISWN (Amplify BlackSwan ISWN ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - ISWN is a Options Trading fund tracking the S-Network International BlackSwan, while QDTE is a Derivative Income fund actively managed by Roundhill. ISWN is passively managed, while QDTE is actively managed. Over the past year, ISWN returned 13.27% vs 40.36% for QDTE. At a 0.48 correlation, their price movements are largely independent. ISWN charges 0.49%/yr vs 0.97%/yr for QDTE.

Performance

ISWN vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify BlackSwan ISWN ETF (ISWN) 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, ISWN achieves a 4.28% return, which is significantly lower than QDTE's 16.58% return.

ISWN

• 1D: -0.80%
• 1M: 2.01%
• YTD: 4.28%
• 6M: 4.94%
• 1Y: 13.27%
• 3Y*: 8.12%
• 5Y*: -0.37%
• 10Y*: —

QDTE

• 1D: -0.16%
• 1M: 8.99%
• YTD: 16.58%
• 6M: 16.20%
• 1Y: 40.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ISWN vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ISWN Amplify BlackSwan ISWN ETF	4.28%	23.23%	-5.95%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.58%	19.32%	16.07%

Correlation

The correlation between ISWN 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 Mar 8, 2024	0.48

The correlation between ISWN and QDTE has been stable across timeframes, ranging from 0.48 to 0.56 - a consistent structural relationship.

ISWN vs. QDTE - Sectors Allocation Comparison

Sectors	ISWN	QDTE
Industrials	19.8%	-
Healthcare	10.6%	-
Technology	10.3%	-
Consumer Cyclical	7.7%	-
Consumer Defensive	6.7%	-
Basic Materials	5.9%	-
Communication Services	4.5%	-
Energy	4.0%	-
Utilities	4.0%	-
Real Estate	1.9%	-
Financial Services	1.6%	5.4%

Return for Risk

ISWN vs. QDTE — Risk / Return Rank

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

ISWN

ISWN Risk / Return Rank: 30
ISWN Sharpe Ratio Rank: 30
ISWN Sortino Ratio Rank: 29
ISWN Omega Ratio Rank: 30
ISWN Calmar Ratio Rank: 29
ISWN Martin Ratio Rank: 32

QDTE

QDTE Risk / Return Rank: 78
QDTE Sharpe Ratio Rank: 82
QDTE Sortino Ratio Rank: 76
QDTE Omega Ratio Rank: 78
QDTE Calmar Ratio Rank: 77
QDTE Martin Ratio Rank: 80

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.

ISWN vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify BlackSwan ISWN ETF (ISWN) 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.

	ISWN	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.09	2.74	-1.65
Sortino ratio: Return per unit of downside risk	1.60	3.49	-1.90
Omega ratio: Gain probability vs. loss probability	1.20	1.47	-0.27
Calmar ratio: Return relative to maximum drawdown	1.38	3.98	-2.59
Martin ratio: Return relative to average drawdown	4.67	16.08	-11.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISWN vs. QDTE - Sharpe Ratio Comparison

The current ISWN Sharpe Ratio is 1.09, which is lower than the QDTE Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of ISWN 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.

Sharpe Ratios by Period

	ISWN	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	2.74	-1.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	1.30	-1.29

Drawdowns

ISWN vs. QDTE - Drawdown Comparison

The maximum ISWN drawdown since its inception was -32.35%, which is greater than QDTE's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for ISWN and QDTE.

Drawdown Indicators

	ISWN	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-32.35%	-22.86%	-9.49%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-10.20%	+0.57%
Max Drawdown (3Y) Largest decline over 3 years	-13.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.35%	—	—
Current Drawdown Current decline from peak	-4.03%	-0.16%	-3.87%
Average Drawdown Average peak-to-trough decline	-16.17%	-3.14%	-13.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	2.52%	+0.33%

Volatility

ISWN vs. QDTE - Volatility Comparison

Amplify BlackSwan ISWN ETF (ISWN) has a higher volatility of 4.67% compared to Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) at 3.75%. This indicates that ISWN'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

	ISWN	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	3.75%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	10.10%	11.01%	-0.91%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	14.81%	-2.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.67%	18.43%	-6.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.57%	18.43%	-6.86%

ISWN vs. QDTE - Expense Ratio Comparison

ISWN has a 0.49% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

ISWN vs. QDTE - Dividend Comparison

ISWN's dividend yield for the trailing twelve months is around 2.82%, less than QDTE's 42.16% yield.

Position	TTM	2025	2024	2023	2022	2021
ISWN Amplify BlackSwan ISWN ETF	2.82%	2.89%	3.27%	2.91%	2.00%	0.76%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	42.16%	49.49%	32.09%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISWN and QDTE in my portfolio?

ISWN 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, ISWN or QDTE?

ISWN has higher volatility (4.67%) compared to QDTE (3.75%). In terms of maximum drawdown, ISWN dropped -32.35% vs QDTE's -22.86%.

Which ETF is better, ISWN or QDTE?

On 1-year performance, QDTE leads with 40.36% vs 13.27% for ISWN. On fees, ISWN is cheaper at 0.49% per year. On volatility, QDTE has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISWN or QDTE?

Over the 1-year period, QDTE has performed better with a 40.36% return vs 13.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISWN or QDTE?

ISWN is cheaper with a 0.49% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 42.16%, compared with 2.82% for ISWN.

What is the main difference between ISWN and QDTE?

ISWN is categorized as Options Trading, while QDTE is Derivative Income. They also come from different issuers: Amplify and Roundhill. Their fees differ too: 0.49% for ISWN and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.74 vs 1.09), 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.