MAGX vs. QDTE

Last updated Jun 24, 2026

MAGX (Roundhill Daily 2X Long Magnificent Seven ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - MAGX is a Leveraged Equities fund actively managed by Roundhill, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, MAGX returned 25.45% vs 33.64% for QDTE. Their correlation of 0.86 suggests significant overlap in exposure. MAGX charges 0.95%/yr vs 0.97%/yr for QDTE.

Performance

MAGX vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) 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, MAGX achieves a -13.73% return, which is significantly lower than QDTE's 12.61% return.

MAGX

• 1D: -2.86%
• 1M: -17.70%
• YTD: -13.73%
• 6M: -16.51%
• 1Y: 25.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -3.23%
• 1M: -0.17%
• YTD: 12.61%
• 6M: 11.52%
• 1Y: 33.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MAGX vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	-13.73%	26.16%	85.10%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.61%	19.32%	17.13%

Correlation

The correlation between MAGX and QDTE is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.86

The correlation between MAGX and QDTE has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

MAGX vs. QDTE - Sectors Allocation Comparison

Sectors	MAGX	QDTE
Financial Services	32.8%	5.4%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

MAGX vs. QDTE — Risk / Return Rank

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

MAGX

MAGX Risk / Return Rank: 19
MAGX Sharpe Ratio Rank: 19
MAGX Sortino Ratio Rank: 20
MAGX Omega Ratio Rank: 19
MAGX Calmar Ratio Rank: 17
MAGX Martin Ratio Rank: 19

QDTE

QDTE Risk / Return Rank: 64
QDTE Sharpe Ratio Rank: 64
QDTE Sortino Ratio Rank: 56
QDTE Omega Ratio Rank: 62
QDTE Calmar Ratio Rank: 68
QDTE Martin Ratio Rank: 71

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.

MAGX vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) 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.

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.

	MAGX	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	0.61	2.03	-1.41
Sortino ratio: Return per unit of downside risk	1.06	2.58	-1.52
Omega ratio: Gain probability vs. loss probability	1.13	1.36	-0.23
Calmar ratio: Return relative to maximum drawdown	0.69	3.31	-2.63
Martin ratio: Return relative to average drawdown	2.03	12.82	-10.79

MAGX vs. QDTE - Sharpe Ratio Comparison

The current MAGX Sharpe Ratio is 0.61, which is lower than the QDTE Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of MAGX 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.

Drawdowns

MAGX vs. QDTE - Drawdown Comparison

The maximum MAGX drawdown since its inception was -54.19%, which is greater than QDTE's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for MAGX and QDTE.

Drawdown Indicators

	MAGX	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-54.19%	-22.86%	-31.33%
Max Drawdown (1Y) Largest decline over 1 year	-37.24%	-10.20%	-27.04%
Current Drawdown Current decline from peak	-21.36%	-3.55%	-17.81%
Average Drawdown Average peak-to-trough decline	-13.79%	-3.13%	-10.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.59%	2.63%	+9.96%

Volatility

MAGX vs. QDTE - Volatility Comparison

Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) has a higher volatility of 15.32% compared to Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) at 8.57%. This indicates that MAGX'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

	MAGX	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.32%	8.57%	+6.75%
Volatility (6M) Calculated over the trailing 6-month period	31.75%	13.32%	+18.43%
Volatility (1Y) Calculated over the trailing 1-year period	41.71%	16.68%	+25.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.76%	18.99%	+34.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.76%	18.99%	+34.77%

MAGX vs. QDTE - Expense Ratio Comparison

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

Dividends

MAGX vs. QDTE - Dividend Comparison

MAGX's dividend yield for the trailing twelve months is around 2.37%, less than QDTE's 44.23% yield.

Position	TTM	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	2.37%	2.05%	0.86%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.23%	49.49%	32.09%

Frequently Asked Questions

Can I hold both MAGX and QDTE in my portfolio?

MAGX and QDTE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGX or QDTE?

MAGX has higher volatility (15.32%) compared to QDTE (8.57%). In terms of maximum drawdown, MAGX dropped -54.19% vs QDTE's -22.86%.

Which ETF is better, MAGX or QDTE?

On 1-year performance, QDTE leads with 33.64% vs 25.45% for MAGX. On fees, MAGX is cheaper at 0.95% per year. On volatility, QDTE has been the lower-risk option at 8.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGX or QDTE?

Over the 1-year period, QDTE has performed better with a 33.64% return vs 25.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGX or QDTE?

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

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

QDTE has the higher dividend yield at 44.23%, compared with 2.37% for MAGX.

What is the main difference between MAGX and QDTE?

MAGX is categorized as Leveraged Equities, while QDTE is Derivative Income. Their fees differ too: 0.95% for MAGX and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.03 vs 0.61), 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.