QLDY vs. QBUF

Last updated Jun 4, 2026

QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) and QBUF (Innovator Nasdaq-100 10 Buffer ETF - Quarterly) are both Nasdaq-100 funds. QLDY is actively managed, while QBUF is passively managed. Their correlation of 0.84 suggests significant overlap in exposure. QLDY charges 1.04%/yr vs 0.79%/yr for QBUF.

Performance

QLDY vs. QBUF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Innovator Nasdaq-100 10 Buffer ETF - Quarterly (QBUF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLDY achieves a 19.28% return, which is significantly higher than QBUF's 4.68% return.

QLDY

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

QBUF

• 1D: -0.01%
• 1M: 0.84%
• YTD: 4.68%
• 6M: 4.57%
• 1Y: 11.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLDY vs. QBUF - Yearly Performance Comparison

	2026 (YTD)	2025
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	19.28%	1.50%
QBUF Innovator Nasdaq-100 10 Buffer ETF - Quarterly	4.68%	2.32%

Correlation

The correlation between QLDY and QBUF is 0.84, 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 Sep 19, 2025	0.84

Return for Risk

QLDY vs. QBUF — Risk / Return Rank

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

QBUF

QBUF Risk / Return Rank: 79
QBUF Sharpe Ratio Rank: 70
QBUF Sortino Ratio Rank: 71
QBUF Omega Ratio Rank: 80
QBUF Calmar Ratio Rank: 88
QBUF Martin Ratio Rank: 85

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.

QLDY vs. QBUF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Innovator Nasdaq-100 10 Buffer ETF - Quarterly (QBUF). 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

	QLDY	QBUF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	1.36	+0.24

Drawdowns

QLDY vs. QBUF - Drawdown Comparison

The maximum QLDY drawdown since its inception was -17.44%, which is greater than QBUF's maximum drawdown of -8.84%. Use the drawdown chart below to compare losses from any high point for QLDY and QBUF.

Drawdown Indicators

	QLDY	QBUF	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-8.84%	-8.60%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.31%	—
Current Drawdown Current decline from peak	0.00%	-0.01%	+0.01%
Average Drawdown Average peak-to-trough decline	-4.25%	-0.82%	-3.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.67%	—

Volatility

Volatility by Period

	QLDY	QBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.88%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.57%	5.25%	+14.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.57%	8.47%	+11.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	8.47%	+11.10%

QLDY vs. QBUF - Expense Ratio Comparison

QLDY has a 1.04% expense ratio, which is higher than QBUF's 0.79% expense ratio.

Dividends

QLDY vs. QBUF - Dividend Comparison

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

Position	TTM	2025
QBUF Innovator Nasdaq-100 10 Buffer ETF - Quarterly	0.00%	0.00%
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	21.47%	9.34%

Frequently Asked Questions

Can I hold both QLDY and QBUF in my portfolio?

QLDY and QBUF have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QLDY or QBUF?

On fees, QBUF is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QLDY or QBUF?

QBUF is cheaper with a 0.79% expense ratio, compared with 1.04% for QLDY.

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

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

What is the main difference between QLDY and QBUF?

They also come from different issuers: Defiance and Innovator. Their fees differ too: 1.04% for QLDY and 0.79% for QBUF.