QLDY vs. QDTE

Last updated Jun 4, 2026

QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - QLDY is a Nasdaq-100 fund actively managed by Defiance, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. With a 0.95 correlation, they move nearly in lockstep. QLDY charges 1.04%/yr vs 0.97%/yr for QDTE.

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 Innovation-100 0DTE Covered Call Strategy ETF (QDTE). 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 QDTE's 16.58% return.

QLDY

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

QDTE

• 1D: -0.16%
• 1M: 8.99%
• YTD: 16.58%
• 6M: 16.20%
• 1Y: 40.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLDY vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	19.28%	1.50%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.58%	4.98%

Correlation

The correlation between QLDY and QDTE is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 19, 2025	0.95

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: 78
QDTE Sharpe Ratio Rank: 82
QDTE Sortino Ratio Rank: 76
QDTE Omega Ratio Rank: 78
QDTE Calmar Ratio Rank: 77
QDTE Martin Ratio Rank: 80

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 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.

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	—	2.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	1.30	+0.30

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	—	-10.20%	—
Current Drawdown Current decline from peak	0.00%	-0.16%	+0.16%
Average Drawdown Average peak-to-trough decline	-4.25%	-3.14%	-1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.52%	—

Volatility

Volatility by Period

	QLDY	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.57%	14.81%	+4.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.57%	18.43%	+1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	18.43%	+1.14%

QLDY vs. QDTE - Expense Ratio Comparison

QLDY has a 1.04% expense ratio, which is higher than QDTE's 0.97% expense ratio.

Dividends

QLDY vs. QDTE - Dividend Comparison

QLDY's dividend yield for the trailing twelve months is around 21.47%, less than QDTE's 42.16% yield.

Position	TTM	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	42.16%	49.49%	32.09%
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	21.47%	9.34%	0.00%

Frequently Asked Questions

Can I hold both QLDY and QDTE in my portfolio?

With a correlation of 0.95, QLDY and QDTE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QLDY or QDTE?

On fees, QDTE is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QLDY or QDTE?

QDTE is cheaper with a 0.97% expense ratio, compared with 1.04% for QLDY.

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

QDTE has the higher dividend yield at 42.16%, compared with 21.47% for QLDY.

What is the main difference between QLDY and QDTE?

QLDY is categorized as Nasdaq-100, while QDTE is Derivative Income. They also come from different issuers: Defiance and Roundhill. Their fees differ too: 1.04% for QLDY and 0.97% for QDTE.