QBUL vs. IWMY

Last updated Jun 3, 2026

QBUL (TrueShares Quarterly Bull Hedge ETF) and IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) are both Options Trading funds. QBUL is actively managed, while IWMY is passively managed. Over the past year, QBUL returned 6.05% vs 23.33% for IWMY. At a 0.48 correlation, their price movements are largely independent. QBUL charges 0.79%/yr vs 0.99%/yr for IWMY.

Performance

QBUL vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Quarterly Bull Hedge ETF (QBUL) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QBUL achieves a 2.81% return, which is significantly lower than IWMY's 12.25% return.

QBUL

• 1D: 0.12%
• 1M: 1.73%
• YTD: 2.81%
• 6M: 2.73%
• 1Y: 6.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: -1.36%
• 1M: 3.06%
• YTD: 12.25%
• 6M: 10.99%
• 1Y: 23.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QBUL vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QBUL TrueShares Quarterly Bull Hedge ETF	2.81%	4.87%	0.58%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	12.25%	10.18%	2.61%

Correlation

The correlation between QBUL and IWMY 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 Jul 2, 2024	0.48

The correlation between QBUL and IWMY has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.

Return for Risk

QBUL vs. IWMY — Risk / Return Rank

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

QBUL

QBUL Risk / Return Rank: 47
QBUL Sharpe Ratio Rank: 49
QBUL Sortino Ratio Rank: 51
QBUL Omega Ratio Rank: 50
QBUL Calmar Ratio Rank: 50
QBUL Martin Ratio Rank: 33

IWMY

IWMY Risk / Return Rank: 40
IWMY Sharpe Ratio Rank: 42
IWMY Sortino Ratio Rank: 38
IWMY Omega Ratio Rank: 39
IWMY Calmar Ratio Rank: 41
IWMY Martin Ratio Rank: 41

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.

QBUL vs. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Quarterly Bull Hedge ETF (QBUL) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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.

	QBUL	IWMY	Difference
Sharpe ratio Return per unit of total volatility	1.72	1.49	+0.23
Sortino ratio Return per unit of downside risk	2.53	2.02	+0.51
Omega ratio Gain probability vs. loss probability	1.32	1.26	+0.06
Calmar ratio Return relative to maximum drawdown	2.53	2.03	+0.51
Martin ratio Return relative to average drawdown	5.02	6.66	-1.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QBUL vs. IWMY - Sharpe Ratio Comparison

The current QBUL Sharpe Ratio is 1.72, which is comparable to the IWMY Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of QBUL and IWMY, 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

	QBUL	IWMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	1.49	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	0.95	+0.20

Drawdowns

QBUL vs. IWMY - Drawdown Comparison

The maximum QBUL drawdown since its inception was -2.45%, smaller than the maximum IWMY drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for QBUL and IWMY.

Drawdown Indicators

	QBUL	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-2.45%	-18.72%	+16.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.45%	-11.57%	+9.12%
Current Drawdown Current decline from peak	0.00%	-1.36%	+1.36%
Average Drawdown Average peak-to-trough decline	-0.98%	-2.98%	+2.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.24%	3.51%	-2.27%

Volatility

QBUL vs. IWMY - Volatility Comparison

The current volatility for TrueShares Quarterly Bull Hedge ETF (QBUL) is 1.26%, while Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) has a volatility of 5.42%. This indicates that QBUL experiences smaller price fluctuations and is considered to be less risky than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QBUL	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	5.42%	-4.16%
Volatility (6M) Calculated over the trailing 6-month period	2.23%	12.62%	-10.39%
Volatility (1Y) Calculated over the trailing 1-year period	3.53%	15.69%	-12.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.78%	15.75%	-11.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.78%	15.75%	-11.97%

QBUL vs. IWMY - Expense Ratio Comparison

QBUL has a 0.79% expense ratio, which is lower than IWMY's 0.99% expense ratio.

Dividends

QBUL vs. IWMY - Dividend Comparison

QBUL's dividend yield for the trailing twelve months is around 8.70%, less than IWMY's 45.96% yield.

Position	TTM	2025	2024	2023
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	45.96%	63.33%	107.92%	11.34%
QBUL TrueShares Quarterly Bull Hedge ETF	8.70%	8.94%	1.82%	0.00%

Frequently Asked Questions

Can I hold both QBUL and IWMY in my portfolio?

QBUL and IWMY 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, QBUL or IWMY?

IWMY has higher volatility (5.42%) compared to QBUL (1.26%). In terms of maximum drawdown, QBUL dropped -2.45% vs IWMY's -18.72%.

Which ETF is better, QBUL or IWMY?

On 1-year performance, IWMY leads with 23.33% vs 6.05% for QBUL. On fees, QBUL is cheaper at 0.79% per year. On volatility, QBUL has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QBUL or IWMY?

Over the 1-year period, IWMY has performed better with a 23.33% return vs 6.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QBUL or IWMY?

QBUL is cheaper with a 0.79% expense ratio, compared with 0.99% for IWMY.

Which ETF pays a higher dividend yield, QBUL or IWMY?

IWMY has the higher dividend yield at 45.96%, compared with 8.70% for QBUL.

What is the main difference between QBUL and IWMY?

They also come from different issuers: TrueShares and Defiance. Their fees differ too: 0.79% for QBUL and 0.99% for IWMY.

Which has better risk-adjusted returns?

QBUL currently has the higher Sharpe Ratio (1.72 vs 1.49), 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.