QDTE vs. GOLI

Last updated Jul 21, 2026

QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) and GOLI (Defiance Gold Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, QDTE returned 24.69% vs 2.02% for GOLI. At a 0.10 correlation, their price movements are largely independent. QDTE charges 0.97%/yr vs 0.99%/yr for GOLI.

Performance

QDTE vs. GOLI - 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 Defiance Gold Enhanced Options Income ETF (GOLI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDTE achieves a 11.03% return, which is significantly higher than GOLI's -10.95% return.

QDTE

• 1D: 0.31%
• 1M: -4.51%
• 6M: 9.76%
• YTD: 11.03%
• 1Y: 24.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.39%

GOLI

• 1D: -0.13%
• 1M: -4.10%
• 6M: -14.97%
• YTD: -10.95%
• 1Y: 2.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.96%

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

QDTE vs. GOLI - Yearly Performance Comparison

	2026 (YTD)	2025
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	11.03%	25.94%
GOLI Defiance Gold Enhanced Options Income ETF	-10.95%	15.16%

Correlation

The correlation between QDTE and GOLI is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	0.10

The correlation between QDTE and GOLI shifts across timeframes, from 0.10 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

QDTE vs. GOLI — Risk / Return Rank

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

QDTE

QDTE Risk / Return Rank: 59
QDTE Sharpe Ratio Rank: 56
QDTE Sortino Ratio Rank: 50
QDTE Omega Ratio Rank: 53
QDTE Calmar Ratio Rank: 66
QDTE Martin Ratio Rank: 68

GOLI

GOLI Risk / Return Rank: 12
GOLI Sharpe Ratio Rank: 12
GOLI Sortino Ratio Rank: 12
GOLI Omega Ratio Rank: 13
GOLI Calmar Ratio Rank: 12
GOLI Martin Ratio Rank: 12

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. GOLI - 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 Defiance Gold Enhanced Options Income ETF (GOLI). 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	GOLI	Difference
Sharpe ratio: Return per unit of total volatility	1.42	0.08	+1.34
Sortino ratio: Return per unit of downside risk	1.90	0.27	+1.63
Omega ratio: Gain probability vs. loss probability	1.25	1.04	+0.21
Calmar ratio: Return relative to maximum drawdown	2.43	0.08	+2.35
Martin ratio: Return relative to average drawdown	8.94	0.23	+8.71

QDTE vs. GOLI - Sharpe Ratio Comparison

The current QDTE Sharpe Ratio is 1.42, which is higher than the GOLI Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of QDTE and GOLI, 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. GOLI - Drawdown Comparison

The maximum QDTE drawdown since its inception was -22.86%, smaller than the maximum GOLI drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for QDTE and GOLI.

Drawdown Indicators

	QDTE	GOLI	Difference
Max Drawdown Largest peak-to-trough decline	-22.86%	-25.88%	+3.02%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-25.88%	+15.68%
Current Drawdown Current decline from peak	-4.91%	-20.81%	+15.90%
Average Drawdown Average peak-to-trough decline	-3.13%	-5.34%	+2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	8.76%	-5.99%

Volatility

QDTE vs. GOLI - Volatility Comparison

Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a higher volatility of 7.01% compared to Defiance Gold Enhanced Options Income ETF (GOLI) at 6.04%. This indicates that QDTE's price experiences larger fluctuations and is considered to be riskier than GOLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTE	GOLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.01%	6.04%	+0.97%
Volatility (6M) Calculated over the trailing 6-month period	14.25%	23.44%	-9.19%
Volatility (1Y) Calculated over the trailing 1-year period	17.46%	25.17%	-7.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.06%	23.17%	-4.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.06%	23.17%	-4.11%

QDTE vs. GOLI - Expense Ratio Comparison

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

Dividends

QDTE vs. GOLI - Dividend Comparison

QDTE's dividend yield for the trailing twelve months is around 45.99%, less than GOLI's 51.33% yield.

Position	TTM	2025	2024
GOLI Defiance Gold Enhanced Options Income ETF	51.33%	37.38%	0.00%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	45.99%	49.49%	32.09%

Frequently Asked Questions

Can I hold both QDTE and GOLI in my portfolio?

QDTE and GOLI have a correlation of 0.25, 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 GOLI?

QDTE has higher volatility (7.01%) compared to GOLI (6.04%). In terms of maximum drawdown, QDTE dropped -22.86% vs GOLI's -25.88%.

Which ETF is better, QDTE or GOLI?

On 1-year performance, QDTE leads with 24.69% vs 2.02% for GOLI. On fees, QDTE is cheaper at 0.97% per year. On volatility, GOLI has been the lower-risk option at 6.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTE or GOLI?

Over the 1-year period, QDTE has performed better with a 24.69% return vs 2.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTE or GOLI?

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

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

GOLI has the higher dividend yield at 51.33%, compared with 45.99% for QDTE.

What is the main difference between QDTE and GOLI?

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

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (1.42 vs 0.08), 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.