QID vs. QDTE
QID (ProShares UltraShort QQQ) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - QID is a Leveraged Equities fund tracking the NASDAQ-100 Index (-200%), while QDTE is a Derivative Income fund actively managed by Roundhill. QID is passively managed, while QDTE is actively managed. Over the past year, QID returned -35.07% vs 25.08% for QDTE. Their -0.98 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
QID vs. QDTE - Performance Comparison
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Returns By Period
In the year-to-date period, QID achieves a -21.02% return, which is significantly lower than QDTE's 10.53% return.
QID
- 1D
- -1.22%
- 1M
- 6.86%
- 6M
- -19.38%
- YTD
- -21.02%
- 1Y
- -35.07%
- 3Y*
- -33.07%
- 5Y*
- -27.97%
- 10Y*
- -37.32%
- ALL TIME*
- -34.54%
QDTE
- 1D
- 0.81%
- 1M
- -1.54%
- 6M
- 8.89%
- YTD
- 10.53%
- 1Y
- 25.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 19.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $17.47M | $18.74M | $19.73M | |
| $255.66M | $222.38M | $304.58M |
QID vs. QDTE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QID ProShares UltraShort QQQ | -21.02% | -34.97% | -24.85% |
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF | 10.53% | 19.32% | 17.13% |
Correlation
The correlation between QID and QDTE is -0.98, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | -0.98 |
The correlation between QID and QDTE has been stable across timeframes, ranging from -0.98 to -0.98 - a consistent structural relationship.
QID vs. QDTE - Sectors Allocation Comparison
Sectors
QID
QDTE
Financial Services
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Technology
-
-
Utilities
-
-
Financial Services
QID
QDTE
Basic Materials
QID
-
QDTE
-
Communication Services
QID
-
QDTE
-
Consumer Cyclical
QID
-
QDTE
-
Consumer Defensive
QID
-
QDTE
-
Energy
QID
-
QDTE
-
Healthcare
QID
-
QDTE
-
Industrials
QID
-
QDTE
-
Real Estate
QID
-
QDTE
-
Technology
QID
-
QDTE
-
Utilities
QID
-
QDTE
-
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Return for Risk
QID vs. QDTE — Risk / Return Rank
QID
QDTE
QID vs. QDTE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ (QID) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). 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.
| QID | QDTE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.10 | ||
| Sortino ratioReturn per unit of downside risk | -2.88 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.22 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 2.23 | -2.95 |
| Martin ratioReturn relative to average drawdown | -1.34 | 7.58 | -8.92 |
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Drawdowns
QID vs. QDTE - Drawdown Comparison
The maximum QID drawdown since its inception was -99.99%, which is greater than QDTE's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for QID and QDTE.
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Drawdown Indicators
| QID | QDTE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -22.86% | -77.13% |
Max Drawdown (1Y)Largest decline over 1 year | -44.65% | -10.20% | -34.45% |
Max Drawdown (3Y)Largest decline over 3 years | -79.50% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -88.72% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.21% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -5.34% | -94.65% |
Average DrawdownAverage peak-to-trough decline | -87.09% | -3.17% | -83.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.20% | 2.99% | +21.21% |
Volatility
QID vs. QDTE - Volatility Comparison
ProShares UltraShort QQQ (QID) has a higher volatility of 13.93% compared to Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) at 6.78%. This indicates that QID's price experiences larger fluctuations and is considered to be riskier than QDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QID | QDTE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.93% | 6.78% | +7.15% |
Volatility (6M)Calculated over the trailing 6-month period | 32.16% | 14.80% | +17.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.79% | 18.06% | +20.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.80% | 19.17% | +26.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.96% | 19.17% | +25.79% |
QID vs. QDTE - Expense Ratio Comparison
Both QID and QDTE have an expense ratio of 0.95%.
Dividends
QID vs. QDTE - Dividend Comparison
QID's dividend yield for the trailing twelve months is around 7.46%, less than QDTE's 46.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF | 46.41% | 49.49% | 32.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QID ProShares UltraShort QQQ | 7.46% | 6.25% | 7.99% | 5.63% | 0.15% | 0.00% | 0.92% | 2.54% | 1.38% | 0.08% |
Frequently Asked Questions
QID and QDTE have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QID has higher volatility (13.93%) compared to QDTE (6.78%). In terms of maximum drawdown, QID dropped -99.99% vs QDTE's -22.86%.
On 1-year performance, QDTE leads with 25.08% vs -35.07% for QID. Both ETFs have the same 0.95% expense ratio. On volatility, QDTE has been the lower-risk option at 6.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QDTE has performed better with a 25.08% return vs -35.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QID and QDTE have the same expense ratio: 0.95% per year.
QDTE has the higher dividend yield at 46.41%, compared with 7.46% for QID.
QID is categorized as Leveraged Equities, while QDTE is Derivative Income. They also come from different issuers: ProShares and Roundhill.
QDTE currently has the higher Sharpe Ratio (1.26 vs -0.84), 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.
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