KPRO vs. QDTE

Last updated Jun 4, 2026

KPRO (KraneShares 100% KWEB Defined Outcome January 2026 ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - KPRO 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, KPRO returned -1.92% vs 40.36% for QDTE. At a 0.34 correlation, their price movements are largely independent. KPRO charges 0.95%/yr vs 0.97%/yr for QDTE.

Performance

KPRO vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO) 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, KPRO achieves a -5.12% return, which is significantly lower than QDTE's 16.58% return.

KPRO

• 1D: -0.85%
• 1M: -1.53%
• YTD: -5.12%
• 6M: -9.44%
• 1Y: -1.92%
• 3Y*: —
• 5Y*: —
• 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)

KPRO vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KPRO KraneShares 100% KWEB Defined Outcome January 2026 ETF	-5.12%	7.79%	11.89%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.58%	19.32%	16.07%

Correlation

The correlation between KPRO 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	0.34

The correlation between KPRO and QDTE shifts across timeframes, from 0.34 (all time) to 0.45 (1 year), reflecting how their relationship changes across market environments.

KPRO vs. QDTE - Sectors Allocation Comparison

Sectors	KPRO	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

KPRO vs. QDTE — Risk / Return Rank

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

KPRO

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

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.

KPRO vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO) 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.

	KPRO	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	2.74	-2.96
Sortino ratio: Return per unit of downside risk	-0.21	3.49	-3.70
Omega ratio: Gain probability vs. loss probability	0.96	1.47	-0.51
Calmar ratio: Return relative to maximum drawdown	-0.16	3.98	-4.14
Martin ratio: Return relative to average drawdown	-0.32	16.08	-16.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KPRO vs. QDTE - Sharpe Ratio Comparison

The current KPRO Sharpe Ratio is -0.22, which is lower than the QDTE Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of KPRO 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

	KPRO	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.22	2.74	-2.96
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	1.30	-0.49

Drawdowns

KPRO vs. QDTE - Drawdown Comparison

The maximum KPRO drawdown since its inception was -11.92%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for KPRO and QDTE.

Drawdown Indicators

	KPRO	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-11.92%	-22.86%	+10.94%
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	-10.20%	-1.72%
Current Drawdown Current decline from peak	-11.91%	-0.16%	-11.75%
Average Drawdown Average peak-to-trough decline	-2.40%	-3.14%	+0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.01%	2.52%	+3.49%

Volatility

KPRO vs. QDTE - Volatility Comparison

The current volatility for KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO) is 2.71%, while Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 3.75%. This indicates that KPRO experiences smaller price fluctuations and is considered to be less risky than QDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KPRO	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	3.75%	-1.04%
Volatility (6M) Calculated over the trailing 6-month period	7.98%	11.01%	-3.03%
Volatility (1Y) Calculated over the trailing 1-year period	8.86%	14.81%	-5.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.83%	18.43%	-10.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.83%	18.43%	-10.60%

KPRO vs. QDTE - Expense Ratio Comparison

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

Dividends

KPRO vs. QDTE - Dividend Comparison

KPRO's dividend yield for the trailing twelve months is around 2.79%, less than QDTE's 42.16% yield.

Position	TTM	2025	2024
KPRO KraneShares 100% KWEB Defined Outcome January 2026 ETF	2.79%	2.65%	3.70%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	42.16%	49.49%	32.09%

Frequently Asked Questions

Can I hold both KPRO and QDTE in my portfolio?

KPRO 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, KPRO or QDTE?

QDTE has higher volatility (3.75%) compared to KPRO (2.71%). In terms of maximum drawdown, KPRO dropped -11.92% vs QDTE's -22.86%.

Which ETF is better, KPRO or QDTE?

On 1-year performance, QDTE leads with 40.36% vs -1.92% for KPRO. On fees, KPRO is cheaper at 0.95% per year. On volatility, KPRO has been the lower-risk option at 2.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KPRO or QDTE?

Over the 1-year period, QDTE has performed better with a 40.36% return vs -1.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KPRO or QDTE?

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

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

QDTE has the higher dividend yield at 42.16%, compared with 2.79% for KPRO.

What is the main difference between KPRO and QDTE?

KPRO 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 KPRO and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.74 vs -0.22), 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.