QDTE vs. NRSH

Last updated Jun 4, 2026

QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) and NRSH (Aztlan North America Nearshoring Stock Selection ETF) are both exchange-traded funds - QDTE is a Derivative Income fund actively managed by Roundhill, while NRSH is a Large Cap Blend Equities fund tracking the Aztlan North America Nearshoring Price Return Index - Benchmark Price Return. QDTE is actively managed, while NRSH is passively managed. Over the past year, QDTE returned 40.36% vs 58.80% for NRSH. A 0.54 correlation means they provide meaningful diversification when combined. QDTE charges 0.97%/yr vs 0.75%/yr for NRSH.

Performance

QDTE vs. NRSH - 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 Aztlan North America Nearshoring Stock Selection ETF (NRSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDTE achieves a 16.58% return, which is significantly lower than NRSH's 47.92% return.

QDTE

• 1D: -0.16%
• 1M: 8.99%
• YTD: 16.58%
• 6M: 16.20%
• 1Y: 40.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NRSH

• 1D: 0.51%
• 1M: 13.93%
• YTD: 47.92%
• 6M: 46.01%
• 1Y: 58.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDTE vs. NRSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.58%	19.32%	16.07%
NRSH Aztlan North America Nearshoring Stock Selection ETF	47.92%	12.95%	-4.14%

Correlation

The correlation between QDTE and NRSH is 0.67, 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	0.67
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.54

The correlation between QDTE and NRSH shifts across timeframes, from 0.54 (all time) to 0.67 (1 year), reflecting how their relationship changes across market environments.

QDTE vs. NRSH - Sectors Allocation Comparison

Sectors	QDTE	NRSH
Financial Services	5.4%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	2.5%
Healthcare	-	-
Industrials	-	58.7%
Real Estate	-	5.8%
Technology	-	35.5%
Utilities	-	-

Return for Risk

QDTE vs. NRSH — Risk / Return Rank

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

QDTE

QDTE Risk / Return Rank: 78
QDTE Sharpe Ratio Rank: 82
QDTE Sortino Ratio Rank: 76
QDTE Omega Ratio Rank: 78
QDTE Calmar Ratio Rank: 77
QDTE Martin Ratio Rank: 80

NRSH

NRSH Risk / Return Rank: 76
NRSH Sharpe Ratio Rank: 74
NRSH Sortino Ratio Rank: 68
NRSH Omega Ratio Rank: 66
NRSH Calmar Ratio Rank: 89
NRSH Martin Ratio Rank: 83

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. NRSH - 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 Aztlan North America Nearshoring Stock Selection ETF (NRSH). 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	NRSH	Difference
Sharpe ratio: Return per unit of total volatility	2.74	2.42	+0.32
Sortino ratio: Return per unit of downside risk	3.49	3.11	+0.39
Omega ratio: Gain probability vs. loss probability	1.47	1.40	+0.08
Calmar ratio: Return relative to maximum drawdown	3.98	5.40	-1.43
Martin ratio: Return relative to average drawdown	16.08	16.86	-0.78
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. NRSH - Sharpe Ratio Comparison

The current QDTE Sharpe Ratio is 2.74, which is comparable to the NRSH Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of QDTE and NRSH, 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	NRSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	2.42	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	1.11	+0.20

Drawdowns

QDTE vs. NRSH - Drawdown Comparison

The maximum QDTE drawdown since its inception was -22.86%, roughly equal to the maximum NRSH drawdown of -24.01%. Use the drawdown chart below to compare losses from any high point for QDTE and NRSH.

Drawdown Indicators

	QDTE	NRSH	Difference
Max Drawdown Largest peak-to-trough decline	-22.86%	-24.01%	+1.15%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-10.94%	+0.74%
Current Drawdown Current decline from peak	-0.16%	0.00%	-0.16%
Average Drawdown Average peak-to-trough decline	-3.14%	-5.62%	+2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	3.50%	-0.98%

Volatility

QDTE vs. NRSH - Volatility Comparison

The current volatility for Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) is 3.75%, while Aztlan North America Nearshoring Stock Selection ETF (NRSH) has a volatility of 9.21%. This indicates that QDTE experiences smaller price fluctuations and is considered to be less risky than NRSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTE	NRSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	9.21%	-5.46%
Volatility (6M) Calculated over the trailing 6-month period	11.01%	20.27%	-9.26%
Volatility (1Y) Calculated over the trailing 1-year period	14.81%	24.44%	-9.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.43%	21.54%	-3.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.43%	21.54%	-3.11%

QDTE vs. NRSH - Expense Ratio Comparison

QDTE has a 0.97% expense ratio, which is higher than NRSH's 0.75% expense ratio.

Dividends

QDTE vs. NRSH - Dividend Comparison

QDTE's dividend yield for the trailing twelve months is around 42.16%, more than NRSH's 0.28% yield.

Position	TTM	2025	2024	2023
NRSH Aztlan North America Nearshoring Stock Selection ETF	0.28%	0.42%	0.90%	0.17%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	42.16%	49.49%	32.09%	0.00%

Frequently Asked Questions

Can I hold both QDTE and NRSH in my portfolio?

QDTE and NRSH have a correlation of 0.67, 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 NRSH?

NRSH has higher volatility (9.21%) compared to QDTE (3.75%). In terms of maximum drawdown, QDTE dropped -22.86% vs NRSH's -24.01%.

Which ETF is better, QDTE or NRSH?

On 1-year performance, NRSH leads with 58.80% vs 40.36% for QDTE. On fees, NRSH is cheaper at 0.75% per year. On volatility, QDTE has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTE or NRSH?

Over the 1-year period, NRSH has performed better with a 58.80% return vs 40.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTE or NRSH?

NRSH is cheaper with a 0.75% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 42.16%, compared with 0.28% for NRSH.

What is the main difference between QDTE and NRSH?

QDTE is categorized as Derivative Income, while NRSH is Large Cap Blend Equities. They also come from different issuers: Roundhill and Aztlan. Their fees differ too: 0.97% for QDTE and 0.75% for NRSH.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.74 vs 2.42), 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.