IWMY vs. QDTE

Last updated Apr 2, 2026

Compare and contrast key facts about Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) and Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF (QDTE).

IWMY and QDTE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWMY is a passively managed fund by Defiance that tracks the performance of the Russell 2000 Index. It was launched on Oct 30, 2023. QDTE is an actively managed fund by Roundhill. It was launched on Mar 6, 2024.

Performance

IWMY vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) and Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF (QDTE). The values are adjusted to include any dividend payments, if applicable.

IWMY vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	-0.96%	10.18%	5.05%
QDTE Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF	-3.92%	19.32%	16.07%

Returns By Period

In the year-to-date period, IWMY achieves a -0.96% return, which is significantly higher than QDTE's -3.92% return.

IWMY

• 1D: 0.61%
• 1M: -5.59%
• YTD: -0.96%
• 6M: -5.14%
• 1Y: 12.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: 1.50%
• 1M: -4.27%
• YTD: -3.92%
• 6M: 0.35%
• 1Y: 21.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IWMY vs. QDTE - Expense Ratio Comparison

IWMY has a 0.99% expense ratio, which is higher than QDTE's 0.95% expense ratio.

IWMY

Defiance R2000 Enhanced Options & 0DTE Income ETF

QDTE

Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF

Return for Risk

IWMY vs. QDTE — Risk / Return Rank

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

IWMY

IWMY Risk / Return Rank: 33
IWMY Sharpe Ratio Rank: 34
IWMY Sortino Ratio Rank: 31
IWMY Omega Ratio Rank: 31
IWMY Calmar Ratio Rank: 36
IWMY Martin Ratio Rank: 33

QDTE

QDTE Risk / Return Rank: 58
QDTE Sharpe Ratio Rank: 60
QDTE Sortino Ratio Rank: 54
QDTE Omega Ratio Rank: 56
QDTE Calmar Ratio Rank: 59
QDTE Martin Ratio Rank: 59

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.

IWMY vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) and Roundhill ETF Trust - Roundhill N-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.

	IWMY	QDTE	Difference
Sharpe ratio Return per unit of total volatility	0.68	1.09	-0.41
Sortino ratio Return per unit of downside risk	0.95	1.46	-0.52
Omega ratio Gain probability vs. loss probability	1.13	1.22	-0.09
Calmar ratio Return relative to maximum drawdown	0.97	1.56	-0.59
Martin ratio Return relative to average drawdown	3.02	5.99	-2.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWMY vs. QDTE - Sharpe Ratio Comparison

The current IWMY Sharpe Ratio is 0.68, which is lower than the QDTE Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of IWMY and QDTE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IWMY	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	1.09	-0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.80	-0.14

Correlation

The correlation between IWMY and QDTE is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IWMY vs. QDTE - Dividend Comparison

IWMY's dividend yield for the trailing twelve months is around 57.52%, more than QDTE's 51.17% yield.

	TTM	2025	2024	2023
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	57.52%	63.33%	107.92%	11.34%
QDTE Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF	51.17%	49.49%	32.09%	0.00%

Drawdowns

IWMY vs. QDTE - Drawdown Comparison

The maximum IWMY drawdown since its inception was -18.72%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for IWMY and QDTE.

Drawdown Indicators

	IWMY	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-18.72%	-22.86%	+4.14%
Max Drawdown (1Y) Largest decline over 1 year	-12.55%	-14.08%	+1.53%
Current Drawdown Current decline from peak	-7.98%	-6.92%	-1.06%
Average Drawdown Average peak-to-trough decline	-3.07%	-3.30%	+0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.04%	3.68%	+0.36%

Volatility

IWMY vs. QDTE - Volatility Comparison

Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) has a higher volatility of 7.26% compared to Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF (QDTE) at 5.86%. This indicates that IWMY'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

	IWMY	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.26%	5.86%	+1.40%
Volatility (6M) Calculated over the trailing 6-month period	12.32%	12.11%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	17.74%	19.37%	-1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.62%	18.71%	-3.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.62%	18.71%	-3.09%