MAGY vs. QDTE

Last updated Jun 4, 2026

MAGY (Roundhill Magnificent Seven Covered Call ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both Derivative Income funds from Roundhill. Both are actively managed. Over the past year, MAGY returned 13.34% vs 40.36% for QDTE. A 0.77 correlation means they provide meaningful diversification when combined. MAGY charges 0.99%/yr vs 0.97%/yr for QDTE.

Performance

MAGY vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Magnificent Seven Covered Call ETF (MAGY) 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, MAGY achieves a -1.50% return, which is significantly lower than QDTE's 16.58% return.

MAGY

• 1D: -1.26%
• 1M: 1.86%
• YTD: -1.50%
• 6M: -0.71%
• 1Y: 13.34%
• 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)

MAGY vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025
MAGY Roundhill Magnificent Seven Covered Call ETF	-1.50%	26.79%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.58%	38.62%

Correlation

The correlation between MAGY and QDTE is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (All Time) Calculated using the full available price history since Apr 24, 2025	0.77

The correlation between MAGY and QDTE has been stable across timeframes, ranging from 0.77 to 0.77 - a consistent structural relationship.

MAGY vs. QDTE - Sectors Allocation Comparison

Sectors	MAGY	QDTE
Financial Services	99.9%	5.4%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

MAGY vs. QDTE — Risk / Return Rank

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

MAGY

MAGY Risk / Return Rank: 24
MAGY Sharpe Ratio Rank: 26
MAGY Sortino Ratio Rank: 24
MAGY Omega Ratio Rank: 26
MAGY Calmar Ratio Rank: 21
MAGY Martin Ratio Rank: 24

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.

MAGY vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Magnificent Seven Covered Call ETF (MAGY) 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.

	MAGY	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	0.93	2.74	-1.81
Sortino ratio: Return per unit of downside risk	1.29	3.49	-2.20
Omega ratio: Gain probability vs. loss probability	1.18	1.47	-0.29
Calmar ratio: Return relative to maximum drawdown	0.94	3.98	-3.04
Martin ratio: Return relative to average drawdown	3.11	16.08	-12.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAGY vs. QDTE - Sharpe Ratio Comparison

The current MAGY Sharpe Ratio is 0.93, which is lower than the QDTE Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of MAGY 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

	MAGY	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	2.74	-1.81
Sharpe Ratio (All Time) Calculated using the full available price history	1.53	1.30	+0.22

Drawdowns

MAGY vs. QDTE - Drawdown Comparison

The maximum MAGY drawdown since its inception was -14.29%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for MAGY and QDTE.

Drawdown Indicators

	MAGY	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-14.29%	-22.86%	+8.57%
Max Drawdown (1Y) Largest decline over 1 year	-14.29%	-10.20%	-4.09%
Current Drawdown Current decline from peak	-3.64%	-0.16%	-3.48%
Average Drawdown Average peak-to-trough decline	-2.69%	-3.14%	+0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	2.52%	+1.77%

Volatility

MAGY vs. QDTE - Volatility Comparison

Roundhill Magnificent Seven Covered Call ETF (MAGY) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) have volatilities of 3.67% and 3.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAGY	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	3.75%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	11.29%	11.01%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	14.81%	-0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.57%	18.43%	-3.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.57%	18.43%	-3.86%

MAGY vs. QDTE - Expense Ratio Comparison

MAGY has a 0.99% expense ratio, which is higher than QDTE's 0.97% expense ratio.

Dividends

MAGY vs. QDTE - Dividend Comparison

MAGY's dividend yield for the trailing twelve months is around 37.35%, less than QDTE's 42.16% yield.

Position	TTM	2025	2024
MAGY Roundhill Magnificent Seven Covered Call ETF	37.35%	23.38%	0.00%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	42.16%	49.49%	32.09%

Frequently Asked Questions

Can I hold both MAGY and QDTE in my portfolio?

MAGY and QDTE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGY or QDTE?

QDTE has higher volatility (3.75%) compared to MAGY (3.67%). In terms of maximum drawdown, MAGY dropped -14.29% vs QDTE's -22.86%.

Which ETF is better, MAGY or QDTE?

On 1-year performance, QDTE leads with 40.36% vs 13.34% for MAGY. On fees, QDTE is cheaper at 0.97% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGY or QDTE?

Over the 1-year period, QDTE has performed better with a 40.36% return vs 13.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGY or QDTE?

QDTE is cheaper with a 0.97% expense ratio, compared with 0.99% for MAGY.

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

QDTE has the higher dividend yield at 42.16%, compared with 37.35% for MAGY.

What is the main difference between MAGY and QDTE?

Their fees differ too: 0.99% for MAGY and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.74 vs 0.93), 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.