OOQB vs. QNXT
OOQB (Volatility Shares One+One Nasdaq-100® and Bitcoin ETF) and QNXT (iShares Nasdaq-100 ex Top 30 ETF) are both Nasdaq-100 funds. OOQB is actively managed, while QNXT is passively managed. Over the past year, OOQB returned -27.35% vs 25.34% for QNXT. A 0.63 correlation means they provide meaningful diversification when combined. OOQB charges 0.75%/yr vs 0.20%/yr for QNXT.
Performance
OOQB vs. QNXT - Performance Comparison
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Returns By Period
In the year-to-date period, OOQB achieves a -18.43% return, which is significantly lower than QNXT's 15.67% return.
OOQB
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- -18.43%
- 6M
- -24.99%
- 1Y
- -27.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QNXT
- 1D
- -0.61%
- 1M
- 9.65%
- YTD
- 15.67%
- 6M
- 13.13%
- 1Y
- 25.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OOQB vs. QNXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | -18.43% | -13.30% |
QNXT iShares Nasdaq-100 ex Top 30 ETF | 15.67% | 3.95% |
Correlation
The correlation between OOQB and QNXT is 0.57, 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 | 0.57 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | 0.63 |
The correlation between OOQB and QNXT has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.
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Return for Risk
OOQB vs. QNXT — Risk / Return Rank
OOQB
QNXT
OOQB vs. QNXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB) and iShares Nasdaq-100 ex Top 30 ETF (QNXT). 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.
| OOQB | QNXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.87 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.29 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 2.50 | -3.02 |
| Martin ratioReturn relative to average drawdown | -0.91 | 8.17 | -9.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OOQB | QNXT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.53 | 1.70 | -2.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.41 | 0.90 | -1.31 |
Drawdowns
OOQB vs. QNXT - Drawdown Comparison
The maximum OOQB drawdown since its inception was -53.44%, which is greater than QNXT's maximum drawdown of -22.25%. Use the drawdown chart below to compare losses from any high point for OOQB and QNXT.
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Drawdown Indicators
| OOQB | QNXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.44% | -22.25% | -31.19% |
Max Drawdown (1Y)Largest decline over 1 year | -53.44% | -10.16% | -43.28% |
Current DrawdownCurrent decline from peak | -43.69% | -0.61% | -43.08% |
Average DrawdownAverage peak-to-trough decline | -23.26% | -3.79% | -19.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.11% | 3.11% | +27.00% |
Volatility
OOQB vs. QNXT - Volatility Comparison
The current volatility for Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB) is 0.00%, while iShares Nasdaq-100 ex Top 30 ETF (QNXT) has a volatility of 3.52%. This indicates that OOQB experiences smaller price fluctuations and is considered to be less risky than QNXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OOQB | QNXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 3.52% | -3.52% |
Volatility (6M)Calculated over the trailing 6-month period | 39.39% | 10.92% | +28.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.57% | 15.05% | +36.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.12% | 19.73% | +38.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.12% | 19.73% | +38.39% |
OOQB vs. QNXT - Expense Ratio Comparison
OOQB has a 0.75% expense ratio, which is higher than QNXT's 0.20% expense ratio.
Dividends
OOQB vs. QNXT - Dividend Comparison
OOQB's dividend yield for the trailing twelve months is around 11.62%, more than QNXT's 0.60% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | 11.62% | 9.53% | 0.00% |
QNXT iShares Nasdaq-100 ex Top 30 ETF | 0.60% | 0.64% | 0.22% |
Frequently Asked Questions
OOQB and QNXT have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QNXT has higher volatility (3.52%) compared to OOQB (0.00%). In terms of maximum drawdown, OOQB dropped -53.44% vs QNXT's -22.25%.
On 1-year performance, QNXT leads with 25.34% vs -27.35% for OOQB. On fees, QNXT is cheaper at 0.20% per year. On volatility, OOQB has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QNXT has performed better with a 25.34% return vs -27.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QNXT is cheaper with a 0.20% expense ratio, compared with 0.75% for OOQB.
OOQB has the higher dividend yield at 11.62%, compared with 0.60% for QNXT.
They also come from different issuers: Volatility Shares and iShares. Their fees differ too: 0.75% for OOQB and 0.20% for QNXT.
QNXT currently has the higher Sharpe Ratio (1.70 vs -0.53), 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.
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