QDTE vs. CHPY

Last updated Jun 5, 2026

QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, QDTE returned 39.17% vs 143.61% for CHPY. A 0.79 correlation means they provide meaningful diversification when combined. QDTE charges 0.97%/yr vs 0.99%/yr for CHPY.

Performance

QDTE vs. CHPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDTE achieves a 16.06% return, which is significantly lower than CHPY's 82.97% return.

QDTE

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

CHPY

• 1D: -1.51%
• 1M: 23.37%
• YTD: 82.97%
• 6M: 82.98%
• 1Y: 143.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDTE vs. CHPY - Yearly Performance Comparison

	2026 (YTD)	2025
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.06%	32.91%
CHPY YieldMax Semiconductor Portfolio Option Income ETF	82.97%	62.91%

Correlation

The correlation between QDTE and CHPY is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	0.79

The correlation between QDTE and CHPY has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

Return for Risk

QDTE vs. CHPY — Risk / Return Rank

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

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

CHPY

CHPY Risk / Return Rank: 97
CHPY Sharpe Ratio Rank: 98
CHPY Sortino Ratio Rank: 96
CHPY Omega Ratio Rank: 96
CHPY Calmar Ratio Rank: 97
CHPY Martin Ratio Rank: 97

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.

QDTE vs. CHPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). 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.

	QDTE	CHPY	Difference
Sharpe ratio: Return per unit of total volatility	2.66	5.23	-2.58
Sortino ratio: Return per unit of downside risk	3.41	5.59	-2.18
Omega ratio: Gain probability vs. loss probability	1.46	1.78	-0.32
Calmar ratio: Return relative to maximum drawdown	3.86	11.88	-8.02
Martin ratio: Return relative to average drawdown	15.60	45.33	-29.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QDTE vs. CHPY - Sharpe Ratio Comparison

The current QDTE Sharpe Ratio is 2.66, which is lower than the CHPY Sharpe Ratio of 5.23. The chart below compares the historical Sharpe Ratios of QDTE and CHPY, 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

	QDTE	CHPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.66	5.23	-2.58
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	4.71	-3.42

Drawdowns

QDTE vs. CHPY - Drawdown Comparison

The maximum QDTE drawdown since its inception was -22.86%, which is greater than CHPY's maximum drawdown of -12.17%. Use the drawdown chart below to compare losses from any high point for QDTE and CHPY.

Drawdown Indicators

	QDTE	CHPY	Difference
Max Drawdown Largest peak-to-trough decline	-22.86%	-12.17%	-10.69%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-12.17%	+1.97%
Current Drawdown Current decline from peak	-0.60%	-1.51%	+0.91%
Average Drawdown Average peak-to-trough decline	-3.14%	-1.98%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	3.18%	-0.66%

Volatility

QDTE vs. CHPY - Volatility Comparison

The current volatility for Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) is 3.72%, while YieldMax Semiconductor Portfolio Option Income ETF (CHPY) has a volatility of 11.32%. This indicates that QDTE experiences smaller price fluctuations and is considered to be less risky than CHPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTE	CHPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	11.32%	-7.60%
Volatility (6M) Calculated over the trailing 6-month period	11.01%	22.41%	-11.40%
Volatility (1Y) Calculated over the trailing 1-year period	14.81%	27.61%	-12.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.42%	33.16%	-14.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	33.16%	-14.74%

QDTE vs. CHPY - Expense Ratio Comparison

QDTE has a 0.97% expense ratio, which is lower than CHPY's 0.99% expense ratio.

Dividends

QDTE vs. CHPY - Dividend Comparison

QDTE's dividend yield for the trailing twelve months is around 43.41%, more than CHPY's 28.83% yield.

Position	TTM	2025	2024
CHPY YieldMax Semiconductor Portfolio Option Income ETF	28.83%	28.19%	0.00%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	43.41%	49.49%	32.09%

Frequently Asked Questions

Can I hold both QDTE and CHPY in my portfolio?

QDTE and CHPY have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDTE or CHPY?

CHPY has higher volatility (11.32%) compared to QDTE (3.72%). In terms of maximum drawdown, QDTE dropped -22.86% vs CHPY's -12.17%.

Which ETF is better, QDTE or CHPY?

On 1-year performance, CHPY leads with 143.61% vs 39.17% for QDTE. On fees, QDTE is cheaper at 0.97% per year. On volatility, QDTE has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTE or CHPY?

Over the 1-year period, CHPY has performed better with a 143.61% return vs 39.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTE or CHPY?

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

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

QDTE has the higher dividend yield at 43.41%, compared with 28.83% for CHPY.

What is the main difference between QDTE and CHPY?

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

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (5.23 vs 2.66), 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.