KBUF vs. QDTE

Last updated Jun 5, 2026

KBUF (KraneShares 90% KWEB Defined Outcome January 2026 ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - KBUF is a Options Trading fund actively managed by KraneShares, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, KBUF returned -3.82% vs 39.17% for QDTE. At a 0.36 correlation, their price movements are largely independent. KBUF charges 0.95%/yr vs 0.97%/yr for QDTE.

Performance

KBUF vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF) 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, KBUF achieves a -11.34% return, which is significantly lower than QDTE's 16.06% return.

KBUF

• 1D: 0.15%
• 1M: -2.81%
• YTD: -11.34%
• 6M: -11.48%
• 1Y: -3.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -0.45%
• 1M: 7.12%
• YTD: 16.06%
• 6M: 15.73%
• 1Y: 39.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KBUF vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF	-11.34%	18.04%	15.13%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.06%	19.32%	16.07%

Correlation

The correlation between KBUF and QDTE is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.36

KBUF vs. QDTE - Sectors Allocation Comparison

Sectors	KBUF	QDTE
Communication Services	40.1%	-
Consumer Cyclical	38.4%	-
Healthcare	6.9%	-
Real Estate	4.8%	-
Consumer Defensive	4.3%	-
Technology	3.6%	-
Financial Services	2.0%	5.4%
Basic Materials	-	-
Energy	-	-
Industrials	-	-
Utilities	-	-

Return for Risk

KBUF vs. QDTE — Risk / Return Rank

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

KBUF

KBUF Risk / Return Rank: 6
KBUF Sharpe Ratio Rank: 6
KBUF Sortino Ratio Rank: 6
KBUF Omega Ratio Rank: 6
KBUF Calmar Ratio Rank: 7
KBUF Martin Ratio Rank: 7

QDTE

QDTE Risk / Return Rank: 79
QDTE Sharpe Ratio Rank: 82
QDTE Sortino Ratio Rank: 77
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.

KBUF vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF) 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.

	KBUF	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	-0.29	2.66	-2.95
Sortino ratio: Return per unit of downside risk	-0.33	3.41	-3.73
Omega ratio: Gain probability vs. loss probability	0.96	1.46	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.23	3.86	-4.08
Martin ratio: Return relative to average drawdown	-0.51	15.60	-16.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KBUF vs. QDTE - Sharpe Ratio Comparison

The current KBUF Sharpe Ratio is -0.29, which is lower than the QDTE Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of KBUF 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

	KBUF	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.29	2.66	-2.95
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	1.29	-0.66

Drawdowns

KBUF vs. QDTE - Drawdown Comparison

The maximum KBUF drawdown since its inception was -17.01%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for KBUF and QDTE.

Drawdown Indicators

	KBUF	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-17.01%	-22.86%	+5.85%
Max Drawdown (1Y) Largest decline over 1 year	-17.01%	-10.20%	-6.81%
Current Drawdown Current decline from peak	-16.58%	-0.60%	-15.98%
Average Drawdown Average peak-to-trough decline	-4.18%	-3.14%	-1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.57%	2.52%	+5.05%

Volatility

KBUF vs. QDTE - Volatility Comparison

KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF) has a higher volatility of 6.22% compared to Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) at 3.72%. This indicates that KBUF'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

	KBUF	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.22%	3.72%	+2.50%
Volatility (6M) Calculated over the trailing 6-month period	10.53%	11.01%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	14.81%	-1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.34%	18.42%	-4.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.34%	18.42%	-4.08%

KBUF vs. QDTE - Expense Ratio Comparison

KBUF has a 0.95% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

KBUF vs. QDTE - Dividend Comparison

KBUF's dividend yield for the trailing twelve months is around 8.47%, less than QDTE's 43.41% yield.

Position	TTM	2025	2024
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF	8.47%	7.51%	3.53%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	43.41%	49.49%	32.09%

Frequently Asked Questions

Can I hold both KBUF and QDTE in my portfolio?

KBUF and QDTE have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KBUF or QDTE?

KBUF has higher volatility (6.22%) compared to QDTE (3.72%). In terms of maximum drawdown, KBUF dropped -17.01% vs QDTE's -22.86%.

Which ETF is better, KBUF or QDTE?

On 1-year performance, QDTE leads with 39.17% vs -3.82% for KBUF. On fees, KBUF is cheaper at 0.95% per year. On volatility, QDTE has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KBUF or QDTE?

Over the 1-year period, QDTE has performed better with a 39.17% return vs -3.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KBUF or QDTE?

KBUF is cheaper with a 0.95% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 43.41%, compared with 8.47% for KBUF.

What is the main difference between KBUF and QDTE?

KBUF is categorized as Options Trading, while QDTE is Derivative Income. They also come from different issuers: KraneShares and Roundhill. Their fees differ too: 0.95% for KBUF and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.66 vs -0.29), 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.