QEW vs. QLDY

Last updated Jun 4, 2026

QEW (Invesco QQQ Equal Weight ETF) and QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) are both Nasdaq-100 funds. QEW is passively managed, while QLDY is actively managed. Their correlation of 0.88 suggests significant overlap in exposure. QEW charges 0.25%/yr vs 1.04%/yr for QLDY.

Performance

QEW vs. QLDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Equal Weight ETF (QEW) and Defiance Nasdaq 100 LightningSpread Income ETF (QLDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QEW

• 1D: -0.11%
• 1M: 10.55%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLDY

• 1D: 0.03%
• 1M: 11.63%
• YTD: 19.28%
• 6M: 16.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QEW vs. QLDY - Yearly Performance Comparison

	2026 (YTD)
QEW Invesco QQQ Equal Weight ETF	21.49%
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	27.98%

Correlation

The correlation between QEW and QLDY is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 19, 2026	0.88

Return for Risk

QEW vs. QLDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Equal Weight ETF (QEW) and Defiance Nasdaq 100 LightningSpread Income ETF (QLDY). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	QEW	QLDY	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	9.75	1.60	+8.15

Drawdowns

QEW vs. QLDY - Drawdown Comparison

The maximum QEW drawdown since its inception was -4.15%, smaller than the maximum QLDY drawdown of -17.44%. Use the drawdown chart below to compare losses from any high point for QEW and QLDY.

Drawdown Indicators

	QEW	QLDY	Difference
Max Drawdown Largest peak-to-trough decline	-4.15%	-17.44%	+13.29%
Current Drawdown Current decline from peak	-0.11%	0.00%	-0.11%
Average Drawdown Average peak-to-trough decline	-0.57%	-4.25%	+3.68%

Volatility

Volatility by Period

	QEW	QLDY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.78%	19.57%	-3.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.78%	19.57%	-3.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.78%	19.57%	-3.79%

QEW vs. QLDY - Expense Ratio Comparison

QEW has a 0.25% expense ratio, which is lower than QLDY's 1.04% expense ratio.

Dividends

QEW vs. QLDY - Dividend Comparison

QEW has not paid dividends to shareholders, while QLDY's dividend yield for the trailing twelve months is around 21.47%.

Position	TTM	2025
QEW Invesco QQQ Equal Weight ETF	0.00%	0.00%
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	21.47%	9.34%

Frequently Asked Questions

Can I hold both QEW and QLDY in my portfolio?

QEW and QLDY have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QEW or QLDY?

On fees, QEW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QEW or QLDY?

QEW is cheaper with a 0.25% expense ratio, compared with 1.04% for QLDY.

Which ETF pays a higher dividend yield, QEW or QLDY?

QLDY has the higher dividend yield at 21.47%, compared with 0.00% for QEW.

What is the main difference between QEW and QLDY?

They also come from different issuers: Invesco and Defiance. Their fees differ too: 0.25% for QEW and 1.04% for QLDY.