LUNL vs. QQQT

Last updated Jul 17, 2026

LUNL (Defiance Daily Target 2X Long LUNR ETF) and QQQT (Defiance Nasdaq 100 Income Target ETF) are both exchange-traded funds - LUNL is a Leveraged Equities fund tracking the Intuitive Machines, Inc. (LUNR), while QQQT is a Nasdaq-100 fund actively managed by Defiance. LUNL is passively managed, while QQQT is actively managed. At a 0.40 correlation, their price movements are largely independent. LUNL charges 1.31%/yr vs 1.05%/yr for QQQT.

Performance

LUNL vs. QQQT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long LUNR ETF (LUNL) and Defiance Nasdaq 100 Income Target ETF (QQQT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LUNL

• 1D: -19.38%
• 1M: -69.78%
• 6M: -81.98%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQT

• 1D: -1.42%
• 1M: -2.92%
• 6M: 12.68%
• YTD: 13.83%
• 1Y: 22.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LUNL vs. QQQT - Yearly Performance Comparison

	2026 (YTD)
LUNL Defiance Daily Target 2X Long LUNR ETF	-82.01%
QQQT Defiance Nasdaq 100 Income Target ETF	11.73%

Correlation

The correlation between LUNL and QQQT is 0.40, 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 Jan 13, 2026	0.40

Return for Risk

LUNL vs. QQQT — Risk / Return Rank

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

LUNL

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

QQQT

QQQT Risk / Return Rank: 44
QQQT Sharpe Ratio Rank: 45
QQQT Sortino Ratio Rank: 42
QQQT Omega Ratio Rank: 46
QQQT Calmar Ratio Rank: 42
QQQT Martin Ratio Rank: 45

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.

LUNL vs. QQQT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long LUNR ETF (LUNL) and Defiance Nasdaq 100 Income Target ETF (QQQT). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	LUNL	QQQT	Difference
Sharpe ratio: Return per unit of total volatility	—	1.31	—
Sortino ratio: Return per unit of downside risk	—	1.82	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	1.77	—
Martin ratio: Return relative to average drawdown	—	5.89	—

Drawdowns

LUNL vs. QQQT - Drawdown Comparison

The maximum LUNL drawdown since its inception was -93.25%, which is greater than QQQT's maximum drawdown of -22.50%. Use the drawdown chart below to compare losses from any high point for LUNL and QQQT.

Drawdown Indicators

	LUNL	QQQT	Difference
Max Drawdown Largest peak-to-trough decline	-93.25%	-22.50%	-70.75%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.73%	—
Current Drawdown Current decline from peak	-93.25%	-4.98%	-88.27%
Average Drawdown Average peak-to-trough decline	-42.86%	-3.96%	-38.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.82%	—

Volatility

Volatility by Period

	LUNL	QQQT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	248.94%	17.19%	+231.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	248.94%	20.77%	+228.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	248.94%	20.77%	+228.17%

LUNL vs. QQQT - Expense Ratio Comparison

LUNL has a 1.31% expense ratio, which is higher than QQQT's 1.05% expense ratio.

Dividends

LUNL vs. QQQT - Dividend Comparison

LUNL has not paid dividends to shareholders, while QQQT's dividend yield for the trailing twelve months is around 20.47%.

Position	TTM	2025	2024
LUNL Defiance Daily Target 2X Long LUNR ETF	0.00%	0.00%	0.00%
QQQT Defiance Nasdaq 100 Income Target ETF	20.47%	21.27%	10.35%

Frequently Asked Questions

Can I hold both LUNL and QQQT in my portfolio?

LUNL and QQQT have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LUNL or QQQT?

On fees, QQQT is cheaper at 1.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LUNL or QQQT?

QQQT is cheaper with a 1.05% expense ratio, compared with 1.31% for LUNL.

Which ETF pays a higher dividend yield, LUNL or QQQT?

QQQT has the higher dividend yield at 20.47%, compared with 0.00% for LUNL.

What is the main difference between LUNL and QQQT?

LUNL is categorized as Leveraged Equities, while QQQT is Nasdaq-100. Their fees differ too: 1.31% for LUNL and 1.05% for QQQT.