QLDY vs. QDTE

Last updated Apr 2, 2026

Compare and contrast key facts about Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF (QDTE).

QLDY and QDTE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QLDY is an actively managed fund by Defiance. It was launched on Sep 17, 2025. QDTE is an actively managed fund by Roundhill. It was launched on Mar 6, 2024.

Performance

QLDY vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF (QDTE). The values are adjusted to include any dividend payments, if applicable.

QLDY vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	-9.50%	1.50%
QDTE Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF	-3.92%	4.98%

Returns By Period

In the year-to-date period, QLDY achieves a -9.50% return, which is significantly lower than QDTE's -3.92% return.

QLDY

• 1D: 1.52%
• 1M: -6.07%
• YTD: -9.50%
• 6M: -9.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: 1.50%
• 1M: -4.27%
• YTD: -3.92%
• 6M: 0.35%
• 1Y: 21.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLDY vs. QDTE - Expense Ratio Comparison

QLDY has a 1.04% expense ratio, which is higher than QDTE's 0.95% expense ratio.

QLDY

Defiance Nasdaq 100 LightningSpread Income ETF

QDTE

Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF

Return for Risk

QLDY vs. QDTE — Risk / Return Rank

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

QDTE

QDTE Risk / Return Rank: 58
QDTE Sharpe Ratio Rank: 60
QDTE Sortino Ratio Rank: 54
QDTE Omega Ratio Rank: 56
QDTE Calmar Ratio Rank: 59
QDTE Martin Ratio Rank: 59

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. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Roundhill ETF Trust - Roundhill N-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.

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

Sharpe Ratios by Period

	QLDY	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.75	0.80	-1.55

Correlation

The correlation between QLDY and QDTE is 0.96, 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

QLDY vs. QDTE - Dividend Comparison

QLDY's dividend yield for the trailing twelve months is around 19.76%, less than QDTE's 51.17% yield.

	TTM	2025	2024
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	19.76%	9.34%	0.00%
QDTE Roundhill ETF Trust - Roundhill N-100 0DTE Covered Call Strategy ETF	51.17%	49.49%	32.09%

Drawdowns

QLDY vs. QDTE - Drawdown Comparison

The maximum QLDY drawdown since its inception was -17.44%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for QLDY and QDTE.

Drawdown Indicators

	QLDY	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-22.86%	+5.42%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.08%	—
Current Drawdown Current decline from peak	-13.33%	-6.92%	-6.41%
Average Drawdown Average peak-to-trough decline	-4.81%	-3.30%	-1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.68%	—

Volatility

Volatility by Period

	QLDY	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.86%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.69%	19.37%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.69%	18.71%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.69%	18.71%	+0.98%