NIXT vs. QDTE

Last updated Jun 9, 2026

NIXT (Research Affiliates Deletions ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - NIXT is a Mid Cap Value Equities fund tracking the Research Affiliates Deletions Index, while QDTE is a Derivative Income fund actively managed by Roundhill. NIXT is passively managed, while QDTE is actively managed. Over the past year, NIXT returned 31.07% vs 34.41% for QDTE. A 0.61 correlation means they provide meaningful diversification when combined. NIXT charges 0.09%/yr vs 0.97%/yr for QDTE.

Performance

NIXT vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Research Affiliates Deletions ETF (NIXT) 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, NIXT achieves a 17.85% return, which is significantly higher than QDTE's 12.44% return.

NIXT

• 1D: 0.30%
• 1M: 0.86%
• YTD: 17.85%
• 6M: 17.13%
• 1Y: 31.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: 1.85%
• 1M: 0.70%
• YTD: 12.44%
• 6M: 11.71%
• 1Y: 34.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NIXT vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NIXT Research Affiliates Deletions ETF	17.85%	4.94%	4.89%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.44%	19.32%	10.81%

Correlation

The correlation between NIXT and QDTE is 0.55, 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	0.55
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024	0.61

The correlation between NIXT and QDTE has been stable across timeframes, ranging from 0.55 to 0.61 - a consistent structural relationship.

Return for Risk

NIXT vs. QDTE — Risk / Return Rank

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

NIXT

NIXT Risk / Return Rank: 51
NIXT Sharpe Ratio Rank: 47
NIXT Sortino Ratio Rank: 49
NIXT Omega Ratio Rank: 43
NIXT Calmar Ratio Rank: 60
NIXT Martin Ratio Rank: 57

QDTE

QDTE Risk / Return Rank: 74
QDTE Sharpe Ratio Rank: 76
QDTE Sortino Ratio Rank: 67
QDTE Omega Ratio Rank: 74
QDTE Calmar Ratio Rank: 74
QDTE Martin Ratio Rank: 78

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.

NIXT vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Research Affiliates Deletions ETF (NIXT) 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.

	NIXT	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.47	2.20	-0.73
Sortino ratio: Return per unit of downside risk	2.18	2.77	-0.59
Omega ratio: Gain probability vs. loss probability	1.25	1.39	-0.14
Calmar ratio: Return relative to maximum drawdown	2.66	3.39	-0.72
Martin ratio: Return relative to average drawdown	8.96	13.52	-4.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NIXT vs. QDTE - Sharpe Ratio Comparison

The current NIXT Sharpe Ratio is 1.47, which is lower than the QDTE Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of NIXT 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

	NIXT	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	2.20	-0.73
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	1.17	-0.47

Drawdowns

NIXT vs. QDTE - Drawdown Comparison

The maximum NIXT drawdown since its inception was -27.75%, which is greater than QDTE's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for NIXT and QDTE.

Drawdown Indicators

	NIXT	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-27.75%	-22.86%	-4.89%
Max Drawdown (1Y) Largest decline over 1 year	-11.71%	-10.20%	-1.51%
Current Drawdown Current decline from peak	-2.73%	-3.70%	+0.97%
Average Drawdown Average peak-to-trough decline	-5.94%	-3.14%	-2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	2.55%	+0.93%

Volatility

NIXT vs. QDTE - Volatility Comparison

The current volatility for Research Affiliates Deletions ETF (NIXT) is 5.00%, while Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 6.57%. This indicates that NIXT 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

	NIXT	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	6.57%	-1.57%
Volatility (6M) Calculated over the trailing 6-month period	14.17%	12.26%	+1.91%
Volatility (1Y) Calculated over the trailing 1-year period	21.26%	15.71%	+5.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.28%	18.72%	+4.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.28%	18.72%	+4.56%

NIXT vs. QDTE - Expense Ratio Comparison

NIXT has a 0.09% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

NIXT vs. QDTE - Dividend Comparison

NIXT's dividend yield for the trailing twelve months is around 1.35%, less than QDTE's 44.14% yield.

Position	TTM	2025	2024
NIXT Research Affiliates Deletions ETF	1.35%	1.64%	1.39%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.14%	49.49%	32.09%

Frequently Asked Questions

Can I hold both NIXT and QDTE in my portfolio?

NIXT and QDTE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NIXT or QDTE?

QDTE has higher volatility (6.57%) compared to NIXT (5.00%). In terms of maximum drawdown, NIXT dropped -27.75% vs QDTE's -22.86%.

Which ETF is better, NIXT or QDTE?

On 1-year performance, QDTE leads with 34.41% vs 31.07% for NIXT. On fees, NIXT is cheaper at 0.09% per year. On volatility, NIXT has been the lower-risk option at 5.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NIXT or QDTE?

Over the 1-year period, QDTE has performed better with a 34.41% return vs 31.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NIXT or QDTE?

NIXT is cheaper with a 0.09% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 44.14%, compared with 1.35% for NIXT.

What is the main difference between NIXT and QDTE?

NIXT is categorized as Mid Cap Value Equities, while QDTE is Derivative Income. They also come from different issuers: Research Affiliates and Roundhill. Their fees differ too: 0.09% for NIXT and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.20 vs 1.47), 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.