QDTY vs. ^NDX

Last updated Apr 2, 2026

Compare and contrast key facts about YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) and NASDAQ 100 Index (^NDX).

QDTY is an actively managed fund by YieldMax. It was launched on Feb 12, 2025.

Performance

QDTY vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

QDTY vs. ^NDX - Yearly Performance Comparison

	2026 (YTD)	2025
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	-5.24%	11.37%
^NDX NASDAQ 100 Index	-4.87%	14.61%

Returns By Period

In the year-to-date period, QDTY achieves a -5.24% return, which is significantly lower than ^NDX's -4.87% return.

QDTY

• 1D: 1.31%
• 1M: -3.25%
• YTD: -5.24%
• 6M: -0.97%
• 1Y: 17.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

^NDX

• 1D: 1.18%
• 1M: -3.89%
• YTD: -4.87%
• 6M: -3.15%
• 1Y: 23.58%
• 3Y*: 22.14%
• 5Y*: 12.50%
• 10Y*: 18.15%

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

Return for Risk

QDTY vs. ^NDX — Risk / Return Rank

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

QDTY

QDTY Risk / Return Rank: 41
QDTY Sharpe Ratio Rank: 33
QDTY Sortino Ratio Rank: 35
QDTY Omega Ratio Rank: 48
QDTY Calmar Ratio Rank: 46
QDTY Martin Ratio Rank: 45

^NDX

^NDX Risk / Return Rank: 76
^NDX Sharpe Ratio Rank: 70
^NDX Sortino Ratio Rank: 74
^NDX Omega Ratio Rank: 74
^NDX Calmar Ratio Rank: 81
^NDX Martin Ratio Rank: 80

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.

QDTY vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) and NASDAQ 100 Index (^NDX). 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.

	QDTY	^NDX	Difference
Sharpe ratio Return per unit of total volatility	0.67	1.04	-0.37
Sortino ratio Return per unit of downside risk	1.08	1.62	-0.55
Omega ratio Gain probability vs. loss probability	1.19	1.23	-0.04
Calmar ratio Return relative to maximum drawdown	1.25	1.93	-0.68
Martin ratio Return relative to average drawdown	4.44	7.05	-2.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QDTY vs. ^NDX - Sharpe Ratio Comparison

The current QDTY Sharpe Ratio is 0.67, which is lower than the ^NDX Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of QDTY and ^NDX, 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

	QDTY	^NDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.67	1.04	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.56	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.81	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.55	-0.37

Correlation

The correlation between QDTY and ^NDX is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

QDTY vs. ^NDX - Drawdown Comparison

The maximum QDTY drawdown since its inception was -23.45%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for QDTY and ^NDX.

Drawdown Indicators

	QDTY	^NDX	Difference
Max Drawdown Largest peak-to-trough decline	-23.45%	-82.90%	+59.45%
Max Drawdown (1Y) Largest decline over 1 year	-14.86%	-12.72%	-2.14%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.56%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.56%	—
Current Drawdown Current decline from peak	-8.25%	-8.04%	-0.21%
Average Drawdown Average peak-to-trough decline	-4.94%	-24.72%	+19.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.18%	3.49%	+0.69%

Volatility

QDTY vs. ^NDX - Volatility Comparison

The current volatility for YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) is 5.67%, while NASDAQ 100 Index (^NDX) has a volatility of 6.65%. This indicates that QDTY experiences smaller price fluctuations and is considered to be less risky than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTY	^NDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	6.65%	-0.98%
Volatility (6M) Calculated over the trailing 6-month period	12.15%	12.93%	-0.78%
Volatility (1Y) Calculated over the trailing 1-year period	26.83%	22.77%	+4.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.91%	22.61%	+4.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.91%	22.48%	+4.43%