MSTW vs. QDTE

Last updated Aug 2, 2026

MSTW (Roundhill MSTR WeeklyPay™ 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, MSTW returned -83.12% vs 25.08% for QDTE. Their 0.48 correlation means their historical movements had little consistent relationship. MSTW charges 0.99%/yr vs 0.95%/yr for QDTE.

Performance

MSTW vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill MSTR WeeklyPay™ ETF (MSTW) 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, MSTW achieves a -49.11% return, which is significantly lower than QDTE's 10.53% return.

MSTW

• 1D: -5.03%
• 1M: -9.33%
• 6M: -47.69%
• YTD: -49.11%
• 1Y: -83.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -84.93%

QDTE

• 1D: 0.81%
• 1M: -1.54%
• 6M: 8.89%
• YTD: 10.53%
• 1Y: 25.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.88%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MSTW Roundhill MSTR WeeklyPay™ ETF	$1.36M	$1.35M	$3.08M
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	$17.47M	$18.74M	$19.73M

MSTW vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025
MSTW Roundhill MSTR WeeklyPay™ ETF	-49.11%	-71.40%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	10.53%	11.83%

Correlation

The correlation between MSTW and QDTE is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.48
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.48

Return for Risk

MSTW vs. QDTE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MSTW

MSTW Risk / Return Rank: 1
MSTW Sharpe Ratio Rank: 2
MSTW Sortino Ratio Rank: 0
MSTW Omega Ratio Rank: 0
MSTW Calmar Ratio Rank: 0
MSTW Martin Ratio Rank: 1

QDTE

QDTE Risk / Return Rank: 56
QDTE Sharpe Ratio Rank: 52
QDTE Sortino Ratio Rank: 49
QDTE Omega Ratio Rank: 50
QDTE Calmar Ratio Rank: 65
QDTE Martin Ratio Rank: 64

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MSTW vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill MSTR WeeklyPay™ ETF (MSTW) 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.

	MSTW	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	1.26	-2.19
Sortino ratio: Return per unit of downside risk	-2.27	1.72	-4.00
Omega ratio: Gain probability vs. loss probability	0.77	1.22	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.98	2.23	-3.21
Martin ratio: Return relative to average drawdown	-1.35	7.58	-8.92

MSTW vs. QDTE - Sharpe Ratio Comparison

The current MSTW Sharpe Ratio is -0.93, which is lower than the QDTE Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of MSTW 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

MSTW vs. QDTE - Drawdown Comparison

The maximum MSTW drawdown since its inception was -87.29%, which is greater than QDTE's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for MSTW and QDTE.

Drawdown Indicators

	MSTW	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-87.29%	-22.86%	-64.43%
Max Drawdown (1Y) Largest decline over 1 year	-86.75%	-10.20%	-76.55%
Current Drawdown Current decline from peak	-85.46%	-5.34%	-80.12%
Average Drawdown Average peak-to-trough decline	-58.78%	-3.17%	-55.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	63.15%	2.99%	+60.16%

Volatility

MSTW vs. QDTE - Volatility Comparison

Roundhill MSTR WeeklyPay™ ETF (MSTW) has a higher volatility of 21.78% compared to Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) at 6.78%. This indicates that MSTW'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

	MSTW	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.78%	6.78%	+15.00%
Volatility (6M) Calculated over the trailing 6-month period	73.44%	14.80%	+58.64%
Volatility (1Y) Calculated over the trailing 1-year period	91.22%	18.06%	+73.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.37%	19.17%	+71.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.37%	19.17%	+71.20%

MSTW vs. QDTE - Expense Ratio Comparison

MSTW has a 0.99% expense ratio, which is higher than QDTE's 0.95% expense ratio.

Dividends

MSTW vs. QDTE - Dividend Comparison

MSTW's dividend yield for the trailing twelve months is around 422.50%, more than QDTE's 46.41% yield.

Position	TTM	2025	2024
MSTW Roundhill MSTR WeeklyPay™ ETF	422.50%	106.94%	0.00%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	46.41%	49.49%	32.09%

Frequently Asked Questions

Can I hold both MSTW and QDTE in my portfolio?

MSTW and QDTE have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTW or QDTE?

MSTW has higher volatility (21.78%) compared to QDTE (6.78%). In terms of maximum drawdown, MSTW dropped -87.29% vs QDTE's -22.86%.

Which ETF is better, MSTW or QDTE?

On 1-year performance, QDTE leads with 25.08% vs -83.12% for MSTW. On fees, QDTE is cheaper at 0.95% per year. On volatility, QDTE has been the lower-risk option at 6.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTW or QDTE?

Over the 1-year period, QDTE has performed better with a 25.08% return vs -83.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTW or QDTE?

QDTE is cheaper with a 0.95% expense ratio, compared with 0.99% for MSTW.

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

MSTW has the higher dividend yield at 422.50%, compared with 46.41% for QDTE.

What is the main difference between MSTW and QDTE?

Their fees differ too: 0.99% for MSTW and 0.95% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (1.26 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.