QLDY vs. QNXT

Last updated Jun 4, 2026

QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) and QNXT (iShares Nasdaq-100 ex Top 30 ETF) are both Nasdaq-100 funds. QLDY is actively managed, while QNXT is passively managed. Their correlation of 0.80 suggests significant overlap in exposure. QLDY charges 1.04%/yr vs 0.20%/yr for QNXT.

Performance

QLDY vs. QNXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and iShares Nasdaq-100 ex Top 30 ETF (QNXT). 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 QNXT's 15.67% return.

QLDY

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

QNXT

• 1D: -0.61%
• 1M: 9.65%
• YTD: 15.67%
• 6M: 13.13%
• 1Y: 25.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLDY vs. QNXT - Yearly Performance Comparison

	2026 (YTD)	2025
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	19.28%	1.50%
QNXT iShares Nasdaq-100 ex Top 30 ETF	15.67%	0.14%

Correlation

The correlation between QLDY and QNXT is 0.80, 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	0.80

Return for Risk

QLDY vs. QNXT — Risk / Return Rank

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

QNXT

QNXT Risk / Return Rank: 49
QNXT Sharpe Ratio Rank: 50
QNXT Sortino Ratio Rank: 49
QNXT Omega Ratio Rank: 47
QNXT Calmar Ratio Rank: 52
QNXT Martin Ratio Rank: 49

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. QNXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and iShares Nasdaq-100 ex Top 30 ETF (QNXT). 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	QNXT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	0.90	+0.70

Drawdowns

QLDY vs. QNXT - Drawdown Comparison

The maximum QLDY drawdown since its inception was -17.44%, smaller than the maximum QNXT drawdown of -22.25%. Use the drawdown chart below to compare losses from any high point for QLDY and QNXT.

Drawdown Indicators

	QLDY	QNXT	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-22.25%	+4.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.16%	—
Current Drawdown Current decline from peak	0.00%	-0.61%	+0.61%
Average Drawdown Average peak-to-trough decline	-4.25%	-3.79%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.11%	—

Volatility

Volatility by Period

	QLDY	QNXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.52%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.92%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.57%	15.05%	+4.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.57%	19.73%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	19.73%	-0.16%

QLDY vs. QNXT - Expense Ratio Comparison

QLDY has a 1.04% expense ratio, which is higher than QNXT's 0.20% expense ratio.

Dividends

QLDY vs. QNXT - Dividend Comparison

QLDY's dividend yield for the trailing twelve months is around 21.47%, more than QNXT's 0.60% yield.

Position	TTM	2025	2024
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	21.47%	9.34%	0.00%
QNXT iShares Nasdaq-100 ex Top 30 ETF	0.60%	0.64%	0.22%

Frequently Asked Questions

Can I hold both QLDY and QNXT in my portfolio?

QLDY and QNXT have a correlation of 0.80, 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 QNXT?

On fees, QNXT is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QLDY or QNXT?

QNXT is cheaper with a 0.20% expense ratio, compared with 1.04% for QLDY.

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

QLDY has the higher dividend yield at 21.47%, compared with 0.60% for QNXT.

What is the main difference between QLDY and QNXT?

They also come from different issuers: Defiance and iShares. Their fees differ too: 1.04% for QLDY and 0.20% for QNXT.