QDTY vs. WDTE

Last updated Jul 21, 2026

QDTY (YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF) and WDTE (Defiance S&P 500 Enhanced Options & 0DTE Income ETF) are both exchange-traded funds - QDTY is a Nasdaq-100 fund actively managed by YieldMax, while WDTE is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, QDTY returned 22.30% vs 16.38% for WDTE. A 0.80 correlation means they provide meaningful diversification when combined. Both charge a 1.01% expense ratio.

Performance

QDTY vs. WDTE - 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 Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with QDTY having a 9.62% return and WDTE slightly lower at 9.15%.

QDTY

• 1D: 0.15%
• 1M: -4.80%
• 6M: 8.04%
• YTD: 9.62%
• 1Y: 22.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.59%

WDTE

• 1D: 0.23%
• 1M: -0.24%
• 6M: 7.58%
• YTD: 9.15%
• 1Y: 16.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.73%

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

QDTY vs. WDTE - Yearly Performance Comparison

	2026 (YTD)	2025
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	9.62%	12.21%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	9.15%	9.24%

Correlation

The correlation between QDTY and WDTE is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.80

The correlation between QDTY and WDTE has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.

QDTY vs. WDTE - Sectors Allocation Comparison

Sectors	QDTY	WDTE
Technology	60.8%	39.0%
Communication Services	13.0%	10.6%
Consumer Cyclical	10.7%	9.9%
Consumer Defensive	6.2%	4.5%
Healthcare	3.6%	8.3%
Industrials	2.9%	7.8%
Utilities	1.1%	2.1%
Basic Materials	1.0%	1.7%
Energy	0.5%	3.1%
Financial Services	0.2%	11.1%
Real Estate	0.1%	1.8%

Return for Risk

QDTY vs. WDTE — Risk / Return Rank

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

QDTY

QDTY Risk / Return Rank: 49
QDTY Sharpe Ratio Rank: 48
QDTY Sortino Ratio Rank: 44
QDTY Omega Ratio Rank: 45
QDTY Calmar Ratio Rank: 53
QDTY Martin Ratio Rank: 53

WDTE

WDTE Risk / Return Rank: 61
WDTE Sharpe Ratio Rank: 60
WDTE Sortino Ratio Rank: 54
WDTE Omega Ratio Rank: 64
WDTE Calmar Ratio Rank: 57
WDTE Martin Ratio Rank: 72

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. WDTE - 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 Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE). 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	WDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.26	1.49	-0.23
Sortino ratio: Return per unit of downside risk	1.73	1.99	-0.26
Omega ratio: Gain probability vs. loss probability	1.22	1.29	-0.06
Calmar ratio: Return relative to maximum drawdown	2.02	2.15	-0.13
Martin ratio: Return relative to average drawdown	6.73	9.56	-2.83

QDTY vs. WDTE - Sharpe Ratio Comparison

The current QDTY Sharpe Ratio is 1.26, which is comparable to the WDTE Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of QDTY and WDTE, 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. WDTE - Drawdown Comparison

The maximum QDTY drawdown since its inception was -23.45%, which is greater than WDTE's maximum drawdown of -15.85%. Use the drawdown chart below to compare losses from any high point for QDTY and WDTE.

Drawdown Indicators

	QDTY	WDTE	Difference
Max Drawdown Largest peak-to-trough decline	-23.45%	-15.85%	-7.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-7.65%	-3.45%
Current Drawdown Current decline from peak	-5.80%	-1.82%	-3.98%
Average Drawdown Average peak-to-trough decline	-4.40%	-1.83%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	1.72%	+1.60%

Volatility

QDTY vs. WDTE - Volatility Comparison

YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) has a higher volatility of 7.23% compared to Defiance S&P 500 Enhanced Options & 0DTE Income ETF (WDTE) at 2.64%. This indicates that QDTY's price experiences larger fluctuations and is considered to be riskier than WDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTY	WDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.23%	2.64%	+4.59%
Volatility (6M) Calculated over the trailing 6-month period	14.82%	9.36%	+5.46%
Volatility (1Y) Calculated over the trailing 1-year period	17.86%	11.09%	+6.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.05%	11.43%	+14.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.05%	11.43%	+14.62%

QDTY vs. WDTE - Expense Ratio Comparison

Both QDTY and WDTE have an expense ratio of 1.01%.

Dividends

QDTY vs. WDTE - Dividend Comparison

QDTY's dividend yield for the trailing twelve months is around 34.62%, more than WDTE's 32.91% yield.

Position	TTM	2025	2024	2023
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	34.62%	26.82%	0.00%	0.00%
WDTE Defiance S&P 500 Enhanced Options & 0DTE Income ETF	32.91%	35.78%	51.80%	16.41%

Frequently Asked Questions

Can I hold both QDTY and WDTE in my portfolio?

QDTY and WDTE have a correlation of 0.82, 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 WDTE?

QDTY has higher volatility (7.23%) compared to WDTE (2.64%). In terms of maximum drawdown, QDTY dropped -23.45% vs WDTE's -15.85%.

Which ETF is better, QDTY or WDTE?

On 1-year performance, QDTY leads with 22.30% vs 16.38% for WDTE. Both ETFs have the same 1.01% expense ratio. On volatility, WDTE has been the lower-risk option at 2.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTY or WDTE?

Over the 1-year period, QDTY has performed better with a 22.30% return vs 16.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTY or WDTE?

QDTY and WDTE have the same expense ratio: 1.01% per year.

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

QDTY has the higher dividend yield at 34.62%, compared with 32.91% for WDTE.

What is the main difference between QDTY and WDTE?

QDTY is categorized as Nasdaq-100, while WDTE is Derivative Income. They also come from different issuers: YieldMax and Defiance.

Which has better risk-adjusted returns?

WDTE currently has the higher Sharpe Ratio (1.49 vs 1.26), 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.