QFLR vs. QQQY

Last updated Apr 2, 2026

Compare and contrast key facts about Innovator Nasdaq-100 Managed Floor ETF (QFLR) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY).

QFLR and QQQY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QFLR is an actively managed fund by Innovator. It was launched on Jan 24, 2024. QQQY is an actively managed fund by Defiance. It was launched on Sep 13, 2023.

Performance

QFLR vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Nasdaq-100 Managed Floor ETF (QFLR) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). The values are adjusted to include any dividend payments, if applicable.

QFLR vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QFLR Innovator Nasdaq-100 Managed Floor ETF	-2.22%	17.27%	16.64%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	-4.82%	14.96%	5.37%

Returns By Period

In the year-to-date period, QFLR achieves a -2.22% return, which is significantly higher than QQQY's -4.82% return.

QFLR

• 1D: 0.66%
• 1M: -2.97%
• YTD: -2.22%
• 6M: 0.78%
• 1Y: 23.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQY

• 1D: 1.19%
• 1M: -3.30%
• YTD: -4.82%
• 6M: -3.93%
• 1Y: 14.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QFLR vs. QQQY - Expense Ratio Comparison

QFLR has a 0.89% expense ratio, which is lower than QQQY's 0.99% expense ratio.

QQQY

Defiance Nasdaq 100 Enhanced Options Income ETF

QFLR

Innovator Nasdaq-100 Managed Floor ETF

Return for Risk

QFLR vs. QQQY — Risk / Return Rank

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

QFLR

QFLR Risk / Return Rank: 89
QFLR Sharpe Ratio Rank: 88
QFLR Sortino Ratio Rank: 89
QFLR Omega Ratio Rank: 86
QFLR Calmar Ratio Rank: 90
QFLR Martin Ratio Rank: 92

QQQY

QQQY Risk / Return Rank: 47
QQQY Sharpe Ratio Rank: 48
QQQY Sortino Ratio Rank: 39
QQQY Omega Ratio Rank: 45
QQQY Calmar Ratio Rank: 54
QQQY Martin Ratio Rank: 48

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.

QFLR vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Nasdaq-100 Managed Floor ETF (QFLR) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). 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.

	QFLR	QQQY	Difference
Sharpe ratio Return per unit of total volatility	1.91	0.91	+1.00
Sortino ratio Return per unit of downside risk	2.62	1.16	+1.46
Omega ratio Gain probability vs. loss probability	1.36	1.18	+0.17
Calmar ratio Return relative to maximum drawdown	3.17	1.44	+1.72
Martin ratio Return relative to average drawdown	13.59	4.79	+8.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QFLR vs. QQQY - Sharpe Ratio Comparison

The current QFLR Sharpe Ratio is 1.91, which is higher than the QQQY Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of QFLR and QQQY, 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

	QFLR	QQQY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	0.91	+1.00
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.66	+0.45

Correlation

The correlation between QFLR and QQQY is 0.87, 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.

Dividends

QFLR vs. QQQY - Dividend Comparison

QFLR has not paid dividends to shareholders, while QQQY's dividend yield for the trailing twelve months is around 44.97%.

	TTM	2025	2024	2023
QFLR Innovator Nasdaq-100 Managed Floor ETF	0.00%	0.02%	0.03%	0.00%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	44.97%	45.34%	83.34%	20.64%

Drawdowns

QFLR vs. QQQY - Drawdown Comparison

The maximum QFLR drawdown since its inception was -13.97%, smaller than the maximum QQQY drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for QFLR and QQQY.

Drawdown Indicators

	QFLR	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-13.97%	-19.05%	+5.08%
Max Drawdown (1Y) Largest decline over 1 year	-7.61%	-11.30%	+3.69%
Current Drawdown Current decline from peak	-4.77%	-7.05%	+2.28%
Average Drawdown Average peak-to-trough decline	-2.61%	-3.04%	+0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	3.40%	-1.63%

Volatility

QFLR vs. QQQY - Volatility Comparison

The current volatility for Innovator Nasdaq-100 Managed Floor ETF (QFLR) is 4.97%, while Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a volatility of 6.38%. This indicates that QFLR experiences smaller price fluctuations and is considered to be less risky than QQQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QFLR	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	6.38%	-1.41%
Volatility (6M) Calculated over the trailing 6-month period	9.49%	11.21%	-1.72%
Volatility (1Y) Calculated over the trailing 1-year period	12.32%	16.45%	-4.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.89%	14.68%	-1.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.89%	14.68%	-1.79%