NVDY vs. QDTE

Last updated Jun 9, 2026

NVDY (YieldMax NVDA Option Income Strategy ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, NVDY returned 42.27% vs 34.41% for QDTE. A 0.69 correlation means they provide meaningful diversification when combined. NVDY charges 0.99%/yr vs 0.97%/yr for QDTE.

Performance

NVDY vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax NVDA Option Income Strategy ETF (NVDY) 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, NVDY achieves a 10.31% return, which is significantly lower than QDTE's 12.44% return.

NVDY

• 1D: 1.46%
• 1M: -2.61%
• YTD: 10.31%
• 6M: 11.29%
• 1Y: 42.27%
• 3Y*: 53.70%
• 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)

NVDY vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NVDY YieldMax NVDA Option Income Strategy ETF	10.31%	27.38%	39.63%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.44%	19.32%	16.07%

Correlation

The correlation between NVDY and QDTE is 0.61, 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	0.61
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.69

The correlation between NVDY and QDTE has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.

Return for Risk

NVDY vs. QDTE — Risk / Return Rank

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

NVDY

NVDY Risk / Return Rank: 53
NVDY Sharpe Ratio Rank: 48
NVDY Sortino Ratio Rank: 46
NVDY Omega Ratio Rank: 45
NVDY Calmar Ratio Rank: 72
NVDY Martin Ratio Rank: 52

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.

NVDY vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax NVDA Option Income Strategy ETF (NVDY) 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.

	NVDY	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.53	2.20	-0.68
Sortino ratio: Return per unit of downside risk	2.06	2.77	-0.71
Omega ratio: Gain probability vs. loss probability	1.26	1.39	-0.13
Calmar ratio: Return relative to maximum drawdown	3.31	3.39	-0.07
Martin ratio: Return relative to average drawdown	8.03	13.52	-5.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVDY vs. QDTE - Sharpe Ratio Comparison

The current NVDY Sharpe Ratio is 1.53, which is lower than the QDTE Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of NVDY 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

	NVDY	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	2.20	-0.68
Sharpe Ratio (All Time) Calculated using the full available price history	1.59	1.17	+0.42

Drawdowns

NVDY vs. QDTE - Drawdown Comparison

The maximum NVDY drawdown since its inception was -34.08%, which is greater than QDTE's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for NVDY and QDTE.

Drawdown Indicators

	NVDY	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-34.08%	-22.86%	-11.22%
Max Drawdown (1Y) Largest decline over 1 year	-12.81%	-10.20%	-2.61%
Max Drawdown (3Y) Largest decline over 3 years	-34.08%	—	—
Current Drawdown Current decline from peak	-8.93%	-3.70%	-5.23%
Average Drawdown Average peak-to-trough decline	-6.16%	-3.14%	-3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.28%	2.55%	+2.73%

Volatility

NVDY vs. QDTE - Volatility Comparison

YieldMax NVDA Option Income Strategy ETF (NVDY) has a higher volatility of 10.13% compared to Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) at 6.57%. This indicates that NVDY'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

	NVDY	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.13%	6.57%	+3.56%
Volatility (6M) Calculated over the trailing 6-month period	21.34%	12.26%	+9.08%
Volatility (1Y) Calculated over the trailing 1-year period	27.86%	15.71%	+12.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.29%	18.72%	+19.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.29%	18.72%	+19.57%

NVDY vs. QDTE - Expense Ratio Comparison

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

Dividends

NVDY vs. QDTE - Dividend Comparison

NVDY's dividend yield for the trailing twelve months is around 64.50%, more than QDTE's 44.14% yield.

Position	TTM	2025	2024	2023
NVDY YieldMax NVDA Option Income Strategy ETF	64.50%	83.10%	83.65%	22.32%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.14%	49.49%	32.09%	0.00%

Frequently Asked Questions

Can I hold both NVDY and QDTE in my portfolio?

NVDY and QDTE have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDY or QDTE?

NVDY has higher volatility (10.13%) compared to QDTE (6.57%). In terms of maximum drawdown, NVDY dropped -34.08% vs QDTE's -22.86%.

Which ETF is better, NVDY or QDTE?

On 1-year performance, NVDY leads with 42.27% vs 34.41% for QDTE. On fees, QDTE is cheaper at 0.97% per year. On volatility, QDTE has been the lower-risk option at 6.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDY or QDTE?

Over the 1-year period, NVDY has performed better with a 42.27% return vs 34.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDY or QDTE?

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

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

NVDY has the higher dividend yield at 64.50%, compared with 44.14% for QDTE.

What is the main difference between NVDY and QDTE?

They also come from different issuers: YieldMax and Roundhill. Their fees differ too: 0.99% for NVDY and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.20 vs 1.53), 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.