QDTE vs. YSPY

Last updated Jun 9, 2026

QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) and YSPY (GraniteShares YieldBOOST SPY ETF) are both exchange-traded funds - QDTE is a Derivative Income fund actively managed by Roundhill, while YSPY is a Leveraged Equities fund actively managed by GraniteShares. Both are actively managed. Over the past year, QDTE returned 34.41% vs 23.83% for YSPY. Their correlation of 0.80 suggests significant overlap in exposure. QDTE charges 0.97%/yr vs 1.07%/yr for YSPY.

Performance

QDTE vs. YSPY - 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 GraniteShares YieldBOOST SPY ETF (YSPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDTE achieves a 12.44% return, which is significantly higher than YSPY's 3.10% return.

QDTE

• 1D: 1.85%
• 1M: 0.70%
• YTD: 12.44%
• 6M: 11.71%
• 1Y: 34.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YSPY

• 1D: -0.03%
• 1M: 0.42%
• YTD: 3.10%
• 6M: 4.22%
• 1Y: 23.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDTE vs. YSPY - Yearly Performance Comparison

	2026 (YTD)	2025
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.44%	17.94%
YSPY GraniteShares YieldBOOST SPY ETF	3.10%	8.36%

Correlation

The correlation between QDTE and YSPY is 0.80, 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	0.80
Correlation (All Time) Calculated using the full available price history since Feb 26, 2025	0.80

The correlation between QDTE and YSPY has been stable across timeframes, ranging from 0.80 to 0.80 - a consistent structural relationship.

Return for Risk

QDTE vs. YSPY — Risk / Return Rank

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

QDTE

QDTE Risk / Return Rank: 74
QDTE Sharpe Ratio Rank: 76
QDTE Sortino Ratio Rank: 67
QDTE Omega Ratio Rank: 74
QDTE Calmar Ratio Rank: 74
QDTE Martin Ratio Rank: 78

YSPY

YSPY Risk / Return Rank: 39
YSPY Sharpe Ratio Rank: 39
YSPY Sortino Ratio Rank: 32
YSPY Omega Ratio Rank: 47
YSPY Calmar Ratio Rank: 37
YSPY Martin Ratio Rank: 41

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. YSPY - 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 GraniteShares YieldBOOST SPY ETF (YSPY). 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	YSPY	Difference
Sharpe ratio: Return per unit of total volatility	2.20	1.25	+0.96
Sortino ratio: Return per unit of downside risk	2.77	1.58	+1.19
Omega ratio: Gain probability vs. loss probability	1.39	1.27	+0.12
Calmar ratio: Return relative to maximum drawdown	3.39	1.64	+1.75
Martin ratio: Return relative to average drawdown	13.52	6.06	+7.47
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. YSPY - Sharpe Ratio Comparison

The current QDTE Sharpe Ratio is 2.20, which is higher than the YSPY Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of QDTE and YSPY, 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	YSPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	1.25	+0.96
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.46	+0.71

Drawdowns

QDTE vs. YSPY - Drawdown Comparison

The maximum QDTE drawdown since its inception was -22.86%, which is greater than YSPY's maximum drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for QDTE and YSPY.

Drawdown Indicators

	QDTE	YSPY	Difference
Max Drawdown Largest peak-to-trough decline	-22.86%	-18.74%	-4.12%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-14.60%	+4.40%
Current Drawdown Current decline from peak	-3.70%	-2.73%	-0.97%
Average Drawdown Average peak-to-trough decline	-3.14%	-4.97%	+1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	3.94%	-1.39%

Volatility

QDTE vs. YSPY - Volatility Comparison

Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a higher volatility of 6.57% compared to GraniteShares YieldBOOST SPY ETF (YSPY) at 2.68%. This indicates that QDTE's price experiences larger fluctuations and is considered to be riskier than YSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTE	YSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	2.68%	+3.89%
Volatility (6M) Calculated over the trailing 6-month period	12.26%	14.35%	-2.09%
Volatility (1Y) Calculated over the trailing 1-year period	15.71%	19.24%	-3.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.72%	21.28%	-2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.72%	21.28%	-2.56%

QDTE vs. YSPY - Expense Ratio Comparison

QDTE has a 0.97% expense ratio, which is lower than YSPY's 1.07% expense ratio.

Dividends

QDTE vs. YSPY - Dividend Comparison

QDTE's dividend yield for the trailing twelve months is around 44.14%, less than YSPY's 57.64% yield.

Position	TTM	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.14%	49.49%	32.09%
YSPY GraniteShares YieldBOOST SPY ETF	57.64%	45.57%	0.00%

Frequently Asked Questions

Can I hold both QDTE and YSPY in my portfolio?

QDTE and YSPY have a correlation of 0.80, 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 YSPY?

QDTE has higher volatility (6.57%) compared to YSPY (2.68%). In terms of maximum drawdown, QDTE dropped -22.86% vs YSPY's -18.74%.

Which ETF is better, QDTE or YSPY?

On 1-year performance, QDTE leads with 34.41% vs 23.83% for YSPY. On fees, QDTE is cheaper at 0.97% per year. On volatility, YSPY has been the lower-risk option at 2.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTE or YSPY?

Over the 1-year period, QDTE has performed better with a 34.41% return vs 23.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTE or YSPY?

QDTE is cheaper with a 0.97% expense ratio, compared with 1.07% for YSPY.

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

YSPY has the higher dividend yield at 57.64%, compared with 44.14% for QDTE.

What is the main difference between QDTE and YSPY?

QDTE is categorized as Derivative Income, while YSPY is Leveraged Equities. They also come from different issuers: Roundhill and GraniteShares. Their fees differ too: 0.97% for QDTE and 1.07% for YSPY.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.20 vs 1.25), 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.