QDTY vs. MMKT

Last updated Jun 24, 2026

QDTY (YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF) and MMKT (Texas Capital Government Money Market ETF) are both exchange-traded funds - QDTY is a Nasdaq-100 fund actively managed by YieldMax, while MMKT is a Money Market fund actively managed by Texas Capital. Both are actively managed. Over the past year, QDTY returned 32.82% vs 3.78% for MMKT. At a correlation of -0.05, they often move in opposite directions. QDTY charges 1.01%/yr vs 0.20%/yr for MMKT.

Performance

QDTY vs. MMKT - 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 Texas Capital Government Money Market ETF (MMKT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDTY achieves a 11.90% return, which is significantly higher than MMKT's 1.64% return.

QDTY

• 1D: -2.95%
• 1M: -0.01%
• YTD: 11.90%
• 6M: 10.72%
• 1Y: 32.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MMKT

• 1D: 0.02%
• 1M: 0.27%
• YTD: 1.64%
• 6M: 1.74%
• 1Y: 3.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDTY vs. MMKT - Yearly Performance Comparison

	2026 (YTD)	2025
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	11.90%	12.21%
MMKT Texas Capital Government Money Market ETF	1.64%	3.64%

Correlation

The correlation between QDTY and MMKT is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	-0.05

Return for Risk

QDTY vs. MMKT — Risk / Return Rank

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

QDTY

QDTY Risk / Return Rank: 60
QDTY Sharpe Ratio Rank: 61
QDTY Sortino Ratio Rank: 55
QDTY Omega Ratio Rank: 58
QDTY Calmar Ratio Rank: 63
QDTY Martin Ratio Rank: 61

MMKT

MMKT Risk / Return Rank: 100
MMKT Sharpe Ratio Rank: 100
MMKT Sortino Ratio Rank: 100
MMKT Omega Ratio Rank: 100
MMKT Calmar Ratio Rank: 100
MMKT Martin Ratio Rank: 100

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. MMKT - 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 Texas Capital Government Money Market ETF (MMKT). 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.

	QDTY	MMKT	Difference
Sharpe ratio: Return per unit of total volatility	1.94	16.75	-14.82
Sortino ratio: Return per unit of downside risk	2.52	62.70	-60.18
Omega ratio: Gain probability vs. loss probability	1.34	15.48	-14.14
Calmar ratio: Return relative to maximum drawdown	2.97	152.14	-149.16
Martin ratio: Return relative to average drawdown	10.47	912.59	-902.12

QDTY vs. MMKT - Sharpe Ratio Comparison

The current QDTY Sharpe Ratio is 1.94, which is lower than the MMKT Sharpe Ratio of 16.75. The chart below compares the historical Sharpe Ratios of QDTY and MMKT, 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

QDTY vs. MMKT - Drawdown Comparison

The maximum QDTY drawdown since its inception was -23.45%, which is greater than MMKT's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for QDTY and MMKT.

Drawdown Indicators

	QDTY	MMKT	Difference
Max Drawdown Largest peak-to-trough decline	-23.45%	-0.04%	-23.41%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-0.02%	-11.08%
Current Drawdown Current decline from peak	-3.84%	0.00%	-3.84%
Average Drawdown Average peak-to-trough decline	-4.43%	-0.00%	-4.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	0.00%	+3.14%

Volatility

QDTY vs. MMKT - Volatility Comparison

YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) has a higher volatility of 8.42% compared to Texas Capital Government Money Market ETF (MMKT) at 0.05%. This indicates that QDTY's price experiences larger fluctuations and is considered to be riskier than MMKT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTY	MMKT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.42%	0.05%	+8.37%
Volatility (6M) Calculated over the trailing 6-month period	13.81%	0.13%	+13.68%
Volatility (1Y) Calculated over the trailing 1-year period	17.02%	0.23%	+16.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.25%	0.23%	+26.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.25%	0.23%	+26.02%

QDTY vs. MMKT - Expense Ratio Comparison

QDTY has a 1.01% expense ratio, which is higher than MMKT's 0.20% expense ratio.

Dividends

QDTY vs. MMKT - Dividend Comparison

QDTY's dividend yield for the trailing twelve months is around 31.83%, more than MMKT's 3.71% yield.

Position	TTM	2025	2024
MMKT Texas Capital Government Money Market ETF	3.71%	3.98%	1.07%
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	31.83%	26.82%	0.00%

Frequently Asked Questions

Can I hold both QDTY and MMKT in my portfolio?

QDTY and MMKT have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDTY or MMKT?

QDTY has higher volatility (8.42%) compared to MMKT (0.05%). In terms of maximum drawdown, QDTY dropped -23.45% vs MMKT's -0.04%.

Which ETF is better, QDTY or MMKT?

On 1-year performance, QDTY leads with 32.82% vs 3.78% for MMKT. On fees, MMKT is cheaper at 0.20% per year. On volatility, MMKT has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTY or MMKT?

Over the 1-year period, QDTY has performed better with a 32.82% return vs 3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTY or MMKT?

MMKT is cheaper with a 0.20% expense ratio, compared with 1.01% for QDTY.

Which ETF pays a higher dividend yield, QDTY or MMKT?

QDTY has the higher dividend yield at 31.83%, compared with 3.71% for MMKT.

What is the main difference between QDTY and MMKT?

QDTY is categorized as Nasdaq-100, while MMKT is Money Market. They also come from different issuers: YieldMax and Texas Capital. Their fees differ too: 1.01% for QDTY and 0.20% for MMKT.

Which has better risk-adjusted returns?

MMKT currently has the higher Sharpe Ratio (16.75 vs 1.94), 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.