QBTZ vs. SPYT
QBTZ (Defiance Daily Target 2X Short QBTS ETF) and SPYT (Defiance S&P 500 Income Target ETF) are both exchange-traded funds - QBTZ is a Inverse Equities fund actively managed by Defiance, while SPYT is a Derivative Income fund actively managed by Defiance. Both are actively managed. Their -0.49 correlation means they have often moved in opposite directions in the past. QBTZ charges 1.29%/yr vs 0.87%/yr for SPYT.
Performance
QBTZ vs. SPYT - Performance Comparison
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Returns By Period
In the year-to-date period, QBTZ achieves a -84.61% return, which is significantly lower than SPYT's 9.33% return.
QBTZ
- 1D
- -1.12%
- 1M
- 5.00%
- 6M
- -87.87%
- YTD
- -84.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SPYT
- 1D
- 0.58%
- 1M
- 0.41%
- 6M
- 7.91%
- YTD
- 9.33%
- 1Y
- 18.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.48M | $12.89M | $20.27M | |
| $1.78M | $2.10M | $2.34M |
QBTZ vs. SPYT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QBTZ Defiance Daily Target 2X Short QBTS ETF | -84.61% | -47.53% |
SPYT Defiance S&P 500 Income Target ETF | 9.33% | 0.94% |
Correlation
The correlation between QBTZ and SPYT is -0.49, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 7, 2025 | -0.49 |
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Return for Risk
QBTZ vs. SPYT — Risk / Return Rank
QBTZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPYT
QBTZ vs. SPYT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short QBTS ETF (QBTZ) and Defiance S&P 500 Income Target ETF (SPYT). 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.
| QBTZ | SPYT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.27 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.05 | — |
| Martin ratioReturn relative to average drawdown | — | 8.74 | — |
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Drawdowns
QBTZ vs. SPYT - Drawdown Comparison
The maximum QBTZ drawdown since its inception was -96.03%, which is greater than SPYT's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for QBTZ and SPYT.
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Drawdown Indicators
| QBTZ | SPYT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.03% | -18.25% | -77.78% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.00% | — |
Current DrawdownCurrent decline from peak | -94.65% | -1.01% | -93.64% |
Average DrawdownAverage peak-to-trough decline | -62.87% | -1.98% | -60.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.87% | — |
Volatility
QBTZ vs. SPYT - Volatility Comparison
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Volatility by Period
| QBTZ | SPYT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.18% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 9.40% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 230.14% | 11.77% | +218.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 230.14% | 14.73% | +215.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 230.14% | 14.73% | +215.41% |
QBTZ vs. SPYT - Expense Ratio Comparison
QBTZ has a 1.29% expense ratio, which is higher than SPYT's 0.87% expense ratio.
Dividends
QBTZ vs. SPYT - Dividend Comparison
QBTZ has not paid dividends to shareholders, while SPYT's dividend yield for the trailing twelve months is around 21.05%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QBTZ Defiance Daily Target 2X Short QBTS ETF | 0.00% | 0.00% | 0.00% |
SPYT Defiance S&P 500 Income Target ETF | 19.19% | 21.40% | 17.37% |
Frequently Asked Questions
QBTZ and SPYT have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYT is cheaper at 0.87% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYT is cheaper with a 0.87% expense ratio, compared with 1.29% for QBTZ.
SPYT has the higher dividend yield at 19.19%, compared with 0.00% for QBTZ.
QBTZ is categorized as Inverse Equities, while SPYT is Derivative Income. Their fees differ too: 1.29% for QBTZ and 0.87% for SPYT.
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