QDTE vs. FYEE

Last updated Jun 24, 2026

QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) and FYEE (Fidelity Yield Enhanced Equity ETF) are both Derivative Income funds. Both are actively managed. Over the past year, QDTE returned 33.64% vs 21.06% for FYEE. Their correlation of 0.87 suggests significant overlap in exposure. QDTE charges 0.97%/yr vs 0.28%/yr for FYEE.

Performance

QDTE vs. FYEE - 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 Fidelity Yield Enhanced Equity ETF (FYEE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDTE achieves a 12.61% return, which is significantly higher than FYEE's 5.23% return.

QDTE

• 1D: -3.23%
• 1M: -0.17%
• YTD: 12.61%
• 6M: 11.52%
• 1Y: 33.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FYEE

• 1D: -1.18%
• 1M: -0.71%
• YTD: 5.23%
• 6M: 4.69%
• 1Y: 21.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDTE vs. FYEE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.61%	19.32%	18.02%
FYEE Fidelity Yield Enhanced Equity ETF	5.23%	15.76%	13.66%

Correlation

The correlation between QDTE and FYEE is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Apr 11, 2024	0.87

The correlation between QDTE and FYEE has been stable across timeframes, ranging from 0.87 to 0.87 - a consistent structural relationship.

Return for Risk

QDTE vs. FYEE — Risk / Return Rank

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

QDTE

QDTE Risk / Return Rank: 64
QDTE Sharpe Ratio Rank: 64
QDTE Sortino Ratio Rank: 56
QDTE Omega Ratio Rank: 62
QDTE Calmar Ratio Rank: 68
QDTE Martin Ratio Rank: 71

FYEE

FYEE Risk / Return Rank: 68
FYEE Sharpe Ratio Rank: 66
FYEE Sortino Ratio Rank: 62
FYEE Omega Ratio Rank: 74
FYEE Calmar Ratio Rank: 61
FYEE Martin Ratio Rank: 77

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. FYEE - 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 Fidelity Yield Enhanced Equity ETF (FYEE). 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.

	QDTE	FYEE	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.06	-0.03
Sortino ratio: Return per unit of downside risk	2.58	2.76	-0.17
Omega ratio: Gain probability vs. loss probability	1.36	1.41	-0.05
Calmar ratio: Return relative to maximum drawdown	3.31	2.86	+0.45
Martin ratio: Return relative to average drawdown	12.82	14.01	-1.20

QDTE vs. FYEE - Sharpe Ratio Comparison

The current QDTE Sharpe Ratio is 2.03, which is comparable to the FYEE Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of QDTE and FYEE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QDTE vs. FYEE - Drawdown Comparison

The maximum QDTE drawdown since its inception was -22.86%, which is greater than FYEE's maximum drawdown of -18.79%. Use the drawdown chart below to compare losses from any high point for QDTE and FYEE.

Drawdown Indicators

	QDTE	FYEE	Difference
Max Drawdown Largest peak-to-trough decline	-22.86%	-18.79%	-4.07%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-7.39%	-2.81%
Current Drawdown Current decline from peak	-3.55%	-1.97%	-1.58%
Average Drawdown Average peak-to-trough decline	-3.13%	-2.23%	-0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	1.51%	+1.12%

Volatility

QDTE vs. FYEE - Volatility Comparison

Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a higher volatility of 8.57% compared to Fidelity Yield Enhanced Equity ETF (FYEE) at 4.15%. This indicates that QDTE's price experiences larger fluctuations and is considered to be riskier than FYEE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTE	FYEE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.57%	4.15%	+4.42%
Volatility (6M) Calculated over the trailing 6-month period	13.32%	8.14%	+5.18%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	10.30%	+6.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.99%	13.93%	+5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.99%	13.93%	+5.06%

QDTE vs. FYEE - Expense Ratio Comparison

QDTE has a 0.97% expense ratio, which is higher than FYEE's 0.28% expense ratio.

Dividends

QDTE vs. FYEE - Dividend Comparison

QDTE's dividend yield for the trailing twelve months is around 44.23%, more than FYEE's 8.63% yield.

Position	TTM	2025	2024
FYEE Fidelity Yield Enhanced Equity ETF	8.63%	7.08%	5.45%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.23%	49.49%	32.09%

Frequently Asked Questions

Can I hold both QDTE and FYEE in my portfolio?

QDTE and FYEE have a correlation of 0.87, 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 FYEE?

QDTE has higher volatility (8.57%) compared to FYEE (4.15%). In terms of maximum drawdown, QDTE dropped -22.86% vs FYEE's -18.79%.

Which ETF is better, QDTE or FYEE?

On 1-year performance, QDTE leads with 33.64% vs 21.06% for FYEE. On fees, FYEE is cheaper at 0.28% per year. On volatility, FYEE has been the lower-risk option at 4.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTE or FYEE?

Over the 1-year period, QDTE has performed better with a 33.64% return vs 21.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTE or FYEE?

FYEE is cheaper with a 0.28% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 44.23%, compared with 8.63% for FYEE.

What is the main difference between QDTE and FYEE?

They also come from different issuers: Roundhill and Fidelity. Their fees differ too: 0.97% for QDTE and 0.28% for FYEE.

Which has better risk-adjusted returns?

FYEE currently has the higher Sharpe Ratio (2.06 vs 2.03), 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.