QLDY vs. QNDX

Last updated Jul 17, 2026

QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) and QNDX (SPDR Portfolio Nasdaq 100 ETF) are both Nasdaq-100 funds. QLDY is actively managed, while QNDX is passively managed. With a 0.98 correlation, they move nearly in lockstep. QLDY charges 1.04%/yr vs 0.10%/yr for QNDX.

Performance

QLDY vs. QNDX - Performance Comparison

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

Returns By Period

QLDY

• 1D: -2.11%
• 1M: -4.71%
• 6M: 8.93%
• YTD: 9.82%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QNDX

• 1D: -1.56%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLDY vs. QNDX - Yearly Performance Comparison

	2026 (YTD)
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	-2.41%
QNDX SPDR Portfolio Nasdaq 100 ETF	-1.16%

Correlation

The correlation between QLDY and QNDX is 0.98 - 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 Jun 24, 2026	0.98

Return for Risk

QLDY vs. QNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and SPDR Portfolio Nasdaq 100 ETF (QNDX). 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.

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

Drawdowns

QLDY vs. QNDX - Drawdown Comparison

The maximum QLDY drawdown since its inception was -17.44%, which is greater than QNDX's maximum drawdown of -4.09%. Use the drawdown chart below to compare losses from any high point for QLDY and QNDX.

Drawdown Indicators

	QLDY	QNDX	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-4.09%	-13.35%
Current Drawdown Current decline from peak	-7.90%	-4.09%	-3.81%
Average Drawdown Average peak-to-trough decline	-4.35%	-1.91%	-2.44%

Volatility

Volatility by Period

	QLDY	QNDX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	21.84%	22.37%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.84%	22.37%	-0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.84%	22.37%	-0.53%

QLDY vs. QNDX - Expense Ratio Comparison

QLDY has a 1.04% expense ratio, which is higher than QNDX's 0.10% expense ratio.

Dividends

QLDY vs. QNDX - Dividend Comparison

QLDY's dividend yield for the trailing twelve months is around 28.28%, while QNDX has not paid dividends to shareholders.

Position	TTM	2025
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	28.28%	9.34%
QNDX SPDR Portfolio Nasdaq 100 ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both QLDY and QNDX in my portfolio?

With a correlation of 0.98, QLDY and QNDX 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 QNDX?

On fees, QNDX is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QLDY or QNDX?

QNDX is cheaper with a 0.10% expense ratio, compared with 1.04% for QLDY.

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

QLDY has the higher dividend yield at 28.28%, compared with 0.00% for QNDX.

What is the main difference between QLDY and QNDX?

They also come from different issuers: Defiance and State Street. Their fees differ too: 1.04% for QLDY and 0.10% for QNDX.