QLDY vs. QNXT
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. A 0.80 correlation means they provide meaningful diversification when combined. QLDY charges 1.04%/yr vs 0.20%/yr for QNXT.
Performance
QLDY vs. QNXT - Performance Comparison
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Returns By Period
In the year-to-date period, QLDY achieves a 9.82% return, which is significantly lower than QNXT's 11.21% return.
QLDY
- 1D
- -2.11%
- 1M
- -4.71%
- 6M
- 8.93%
- YTD
- 9.82%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QNXT
- 1D
- 0.02%
- 1M
- -3.35%
- 6M
- 9.15%
- YTD
- 11.21%
- 1Y
- 16.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QLDY vs. QNXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QLDY Defiance Nasdaq 100 LightningSpread Income ETF | 9.82% | 1.54% |
QNXT iShares Nasdaq-100 ex Top 30 ETF | 11.21% | 2.82% |
Correlation
The correlation between QLDY and QNXT is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.80 |
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Return for Risk
QLDY vs. QNXT — Risk / Return Rank
QLDY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QNXT
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.
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.
| QLDY | QNXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.18 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.62 | — |
| Martin ratioReturn relative to average drawdown | — | 5.06 | — |
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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.
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Drawdown Indicators
| QLDY | QNXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.44% | -22.25% | +4.81% |
Max Drawdown (1Y)Largest decline over 1 year | — | -10.16% | — |
Current DrawdownCurrent decline from peak | -7.90% | -4.44% | -3.46% |
Average DrawdownAverage peak-to-trough decline | -4.35% | -3.71% | -0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.25% | — |
Volatility
QLDY vs. QNXT - Volatility Comparison
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Volatility by Period
| QLDY | QNXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.79% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 12.02% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 21.84% | 15.90% | +5.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.84% | 19.69% | +2.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.84% | 19.69% | +2.15% |
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 28.28%, more than QNXT's 0.68% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QLDY Defiance Nasdaq 100 LightningSpread Income ETF | 28.28% | 9.34% | 0.00% |
QNXT iShares Nasdaq-100 ex Top 30 ETF | 0.68% | 0.64% | 0.22% |
Frequently Asked Questions
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.
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.
QNXT is cheaper with a 0.20% expense ratio, compared with 1.04% for QLDY.
QLDY has the higher dividend yield at 28.28%, compared with 0.68% for QNXT.
They also come from different issuers: Defiance and iShares. Their fees differ too: 1.04% for QLDY and 0.20% for QNXT.
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