QBUL vs. QDTE

Last updated Jun 5, 2026

QBUL (TrueShares Quarterly Bull Hedge ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - QBUL is a Options Trading fund actively managed by TrueShares, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, QBUL returned 5.75% vs 39.17% for QDTE. A 0.63 correlation means they provide meaningful diversification when combined. QBUL charges 0.79%/yr vs 0.97%/yr for QDTE.

Performance

QBUL vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Quarterly Bull Hedge ETF (QBUL) 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, QBUL achieves a 2.45% return, which is significantly lower than QDTE's 16.06% return.

QBUL

• 1D: -0.01%
• 1M: 1.28%
• YTD: 2.45%
• 6M: 2.34%
• 1Y: 5.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -0.45%
• 1M: 7.12%
• YTD: 16.06%
• 6M: 15.73%
• 1Y: 39.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QBUL vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QBUL TrueShares Quarterly Bull Hedge ETF	2.45%	4.87%	0.58%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.06%	19.32%	8.47%

Correlation

The correlation between QBUL and QDTE is 0.74, 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	0.74
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	0.63

The correlation between QBUL and QDTE shifts across timeframes, from 0.63 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

QBUL vs. QDTE — Risk / Return Rank

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

QBUL

QBUL Risk / Return Rank: 45
QBUL Sharpe Ratio Rank: 48
QBUL Sortino Ratio Rank: 50
QBUL Omega Ratio Rank: 48
QBUL Calmar Ratio Rank: 49
QBUL Martin Ratio Rank: 32

QDTE

QDTE Risk / Return Rank: 79
QDTE Sharpe Ratio Rank: 82
QDTE Sortino Ratio Rank: 77
QDTE Omega Ratio Rank: 78
QDTE Calmar Ratio Rank: 77
QDTE Martin Ratio Rank: 80

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. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Quarterly Bull Hedge ETF (QBUL) 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.

	QBUL	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.63	2.66	-1.03
Sortino ratio: Return per unit of downside risk	2.39	3.41	-1.01
Omega ratio: Gain probability vs. loss probability	1.30	1.46	-0.16
Calmar ratio: Return relative to maximum drawdown	2.35	3.86	-1.50
Martin ratio: Return relative to average drawdown	4.65	15.60	-10.95
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. QDTE - Sharpe Ratio Comparison

The current QBUL Sharpe Ratio is 1.63, which is lower than the QDTE Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of QBUL 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

	QBUL	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	2.66	-1.03
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	1.29	-0.19

Drawdowns

QBUL vs. QDTE - Drawdown Comparison

The maximum QBUL drawdown since its inception was -2.45%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for QBUL and QDTE.

Drawdown Indicators

	QBUL	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-2.45%	-22.86%	+20.41%
Max Drawdown (1Y) Largest decline over 1 year	-2.45%	-10.20%	+7.75%
Current Drawdown Current decline from peak	-0.35%	-0.60%	+0.25%
Average Drawdown Average peak-to-trough decline	-0.97%	-3.14%	+2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.24%	2.52%	-1.28%

Volatility

QBUL vs. QDTE - Volatility Comparison

The current volatility for TrueShares Quarterly Bull Hedge ETF (QBUL) is 1.30%, while Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a volatility of 3.72%. This indicates that QBUL 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

	QBUL	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	3.72%	-2.42%
Volatility (6M) Calculated over the trailing 6-month period	2.25%	11.01%	-8.76%
Volatility (1Y) Calculated over the trailing 1-year period	3.54%	14.81%	-11.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.78%	18.42%	-14.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.78%	18.42%	-14.64%

QBUL vs. QDTE - Expense Ratio Comparison

QBUL has a 0.79% expense ratio, which is lower than QDTE's 0.97% expense ratio.

Dividends

QBUL vs. QDTE - Dividend Comparison

QBUL's dividend yield for the trailing twelve months is around 8.73%, less than QDTE's 43.41% yield.

Position	TTM	2025	2024
QBUL TrueShares Quarterly Bull Hedge ETF	8.73%	8.94%	1.82%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	43.41%	49.49%	32.09%

Frequently Asked Questions

Can I hold both QBUL and QDTE in my portfolio?

QBUL and QDTE have a correlation of 0.74, 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 QDTE?

QDTE has higher volatility (3.72%) compared to QBUL (1.30%). In terms of maximum drawdown, QBUL dropped -2.45% vs QDTE's -22.86%.

Which ETF is better, QBUL or QDTE?

On 1-year performance, QDTE leads with 39.17% vs 5.75% for QBUL. On fees, QBUL is cheaper at 0.79% per year. On volatility, QBUL has been the lower-risk option at 1.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QBUL or QDTE?

Over the 1-year period, QDTE has performed better with a 39.17% return vs 5.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QBUL or QDTE?

QBUL is cheaper with a 0.79% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 43.41%, compared with 8.73% for QBUL.

What is the main difference between QBUL and QDTE?

QBUL is categorized as Options Trading, while QDTE is Derivative Income. They also come from different issuers: TrueShares and Roundhill. Their fees differ too: 0.79% for QBUL and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.66 vs 1.63), 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.