QDTY vs. YMAX

Last updated Jun 4, 2026

QDTY (YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF) and YMAX (YieldMax Universe Fund of Option Income ETFs) are both exchange-traded funds - QDTY is a Nasdaq-100 fund actively managed by YieldMax, while YMAX is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, QDTY returned 39.98% vs 9.02% for YMAX. A 0.77 correlation means they provide meaningful diversification when combined. QDTY charges 1.01%/yr vs 1.28%/yr for YMAX.

Performance

QDTY vs. YMAX - 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 YieldMax Universe Fund of Option Income ETFs (YMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDTY achieves a 16.37% return, which is significantly higher than YMAX's 6.06% return.

QDTY

• 1D: 0.06%
• 1M: 9.62%
• YTD: 16.37%
• 6M: 16.71%
• 1Y: 39.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YMAX

• 1D: -1.70%
• 1M: 6.76%
• YTD: 6.06%
• 6M: 3.56%
• 1Y: 9.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDTY vs. YMAX - Yearly Performance Comparison

	2026 (YTD)	2025
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	16.37%	11.37%
YMAX YieldMax Universe Fund of Option Income ETFs	6.06%	1.17%

Correlation

The correlation between QDTY and YMAX is 0.72, 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	0.72
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	0.77

The correlation between QDTY and YMAX has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.

QDTY vs. YMAX - Sectors Allocation Comparison

Sectors	QDTY	YMAX
Technology	53.7%	68.7%
Communication Services	15.8%	6.9%
Consumer Cyclical	12.2%	4.8%
Consumer Defensive	7.7%	0.9%
Healthcare	4.2%	0.8%
Industrials	3.1%	1.9%
Utilities	1.4%	0.2%
Basic Materials	1.1%	2.2%
Energy	0.6%	0.1%
Financial Services	0.2%	13.8%
Real Estate	0.1%	0.0%

Return for Risk

QDTY vs. YMAX — Risk / Return Rank

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

QDTY

QDTY Risk / Return Rank: 75
QDTY Sharpe Ratio Rank: 80
QDTY Sortino Ratio Rank: 75
QDTY Omega Ratio Rank: 76
QDTY Calmar Ratio Rank: 72
QDTY Martin Ratio Rank: 71

YMAX

YMAX Risk / Return Rank: 14
YMAX Sharpe Ratio Rank: 14
YMAX Sortino Ratio Rank: 14
YMAX Omega Ratio Rank: 15
YMAX Calmar Ratio Rank: 13
YMAX Martin Ratio Rank: 12

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. YMAX - 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 YieldMax Universe Fund of Option Income ETFs (YMAX). 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	YMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.65	0.42	+2.23
Sortino ratio: Return per unit of downside risk	3.41	0.70	+2.71
Omega ratio: Gain probability vs. loss probability	1.46	1.09	+0.37
Calmar ratio: Return relative to maximum drawdown	3.62	0.35	+3.27
Martin ratio: Return relative to average drawdown	13.27	0.82	+12.44
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. YMAX - Sharpe Ratio Comparison

The current QDTY Sharpe Ratio is 2.65, which is higher than the YMAX Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of QDTY and YMAX, 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

	QDTY	YMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	0.42	+2.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.70	+0.16

Drawdowns

QDTY vs. YMAX - Drawdown Comparison

The maximum QDTY drawdown since its inception was -23.45%, smaller than the maximum YMAX drawdown of -26.13%. Use the drawdown chart below to compare losses from any high point for QDTY and YMAX.

Drawdown Indicators

	QDTY	YMAX	Difference
Max Drawdown Largest peak-to-trough decline	-23.45%	-26.13%	+2.68%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-26.13%	+15.03%
Current Drawdown Current decline from peak	0.00%	-5.98%	+5.98%
Average Drawdown Average peak-to-trough decline	-4.48%	-6.33%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	10.99%	-7.97%

Volatility

QDTY vs. YMAX - Volatility Comparison

The current volatility for YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) is 3.29%, while YieldMax Universe Fund of Option Income ETFs (YMAX) has a volatility of 6.22%. This indicates that QDTY experiences smaller price fluctuations and is considered to be less risky than YMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTY	YMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	6.22%	-2.93%
Volatility (6M) Calculated over the trailing 6-month period	11.77%	17.10%	-5.33%
Volatility (1Y) Calculated over the trailing 1-year period	15.18%	21.62%	-6.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.87%	22.97%	+2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.87%	22.97%	+2.90%

QDTY vs. YMAX - Expense Ratio Comparison

QDTY has a 1.01% expense ratio, which is lower than YMAX's 1.28% expense ratio.

Dividends

QDTY vs. YMAX - Dividend Comparison

QDTY's dividend yield for the trailing twelve months is around 30.90%, less than YMAX's 72.94% yield.

Position	TTM	2025	2024
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	30.90%	26.82%	0.00%
YMAX YieldMax Universe Fund of Option Income ETFs	72.94%	78.70%	44.20%

Frequently Asked Questions

Can I hold both QDTY and YMAX in my portfolio?

QDTY and YMAX have a correlation of 0.72, 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 YMAX?

YMAX has higher volatility (6.22%) compared to QDTY (3.29%). In terms of maximum drawdown, QDTY dropped -23.45% vs YMAX's -26.13%.

Which ETF is better, QDTY or YMAX?

On 1-year performance, QDTY leads with 39.98% vs 9.02% for YMAX. On fees, QDTY is cheaper at 1.01% per year. On volatility, QDTY has been the lower-risk option at 3.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTY or YMAX?

Over the 1-year period, QDTY has performed better with a 39.98% return vs 9.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTY or YMAX?

QDTY is cheaper with a 1.01% expense ratio, compared with 1.28% for YMAX.

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

YMAX has the higher dividend yield at 72.94%, compared with 30.90% for QDTY.

What is the main difference between QDTY and YMAX?

QDTY is categorized as Nasdaq-100, while YMAX is Derivative Income. Their fees differ too: 1.01% for QDTY and 1.28% for YMAX.

Which has better risk-adjusted returns?

QDTY currently has the higher Sharpe Ratio (2.65 vs 0.42), 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.