QDTE vs. IWMY

Last updated Apr 2, 2026

Compare and contrast key facts about Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF (QDTE) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY).

QDTE and IWMY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QDTE is an actively managed fund by Roundhill. It was launched on Mar 6, 2024. IWMY is a passively managed fund by Defiance that tracks the performance of the Russell 2000 Index. It was launched on Oct 30, 2023.

Performance

QDTE vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF (QDTE) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

QDTE vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QDTE Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF	-3.92%	19.32%	16.07%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	-0.96%	10.18%	5.05%

Returns By Period

In the year-to-date period, QDTE achieves a -3.92% return, which is significantly lower than IWMY's -0.96% return.

QDTE

• 1D: 1.50%
• 1M: -4.27%
• YTD: -3.92%
• 6M: 0.35%
• 1Y: 21.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: 0.61%
• 1M: -5.59%
• YTD: -0.96%
• 6M: -5.14%
• 1Y: 12.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDTE vs. IWMY - Expense Ratio Comparison

QDTE has a 0.95% expense ratio, which is lower than IWMY's 0.99% expense ratio.

IWMY

Defiance R2000 Enhanced Options & 0DTE Income ETF

QDTE

Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF

Return for Risk

QDTE vs. IWMY — Risk / Return Rank

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

QDTE

QDTE Risk / Return Rank: 58
QDTE Sharpe Ratio Rank: 60
QDTE Sortino Ratio Rank: 54
QDTE Omega Ratio Rank: 56
QDTE Calmar Ratio Rank: 59
QDTE Martin Ratio Rank: 59

IWMY

IWMY Risk / Return Rank: 33
IWMY Sharpe Ratio Rank: 34
IWMY Sortino Ratio Rank: 31
IWMY Omega Ratio Rank: 31
IWMY Calmar Ratio Rank: 36
IWMY Martin Ratio Rank: 33

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. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF (QDTE) 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.

	QDTE	IWMY	Difference
Sharpe ratio Return per unit of total volatility	1.09	0.68	+0.41
Sortino ratio Return per unit of downside risk	1.46	0.95	+0.52
Omega ratio Gain probability vs. loss probability	1.22	1.13	+0.09
Calmar ratio Return relative to maximum drawdown	1.56	0.97	+0.59
Martin ratio Return relative to average drawdown	5.99	3.02	+2.97
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. IWMY - Sharpe Ratio Comparison

The current QDTE Sharpe Ratio is 1.09, which is higher than the IWMY Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of QDTE and IWMY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QDTE	IWMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	0.68	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.66	+0.14

Correlation

The correlation between QDTE and IWMY is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

QDTE vs. IWMY - Dividend Comparison

QDTE's dividend yield for the trailing twelve months is around 51.17%, less than IWMY's 57.52% yield.

	TTM	2025	2024	2023
QDTE Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF	51.17%	49.49%	32.09%	0.00%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	57.52%	63.33%	107.92%	11.34%

Drawdowns

QDTE vs. IWMY - Drawdown Comparison

The maximum QDTE drawdown since its inception was -22.86%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for QDTE and IWMY.

Drawdown Indicators

	QDTE	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-22.86%	-18.72%	-4.14%
Max Drawdown (1Y) Largest decline over 1 year	-14.08%	-12.55%	-1.53%
Current Drawdown Current decline from peak	-6.92%	-7.98%	+1.06%
Average Drawdown Average peak-to-trough decline	-3.30%	-3.07%	-0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	4.04%	-0.36%

Volatility

QDTE vs. IWMY - Volatility Comparison

The current volatility for Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF (QDTE) is 5.86%, while Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) has a volatility of 7.26%. This indicates that QDTE 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

	QDTE	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.86%	7.26%	-1.40%
Volatility (6M) Calculated over the trailing 6-month period	12.11%	12.32%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	19.37%	17.74%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.71%	15.62%	+3.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.71%	15.62%	+3.09%