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. Their correlation of 0.81 suggests significant overlap in exposure. 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 10.66% return, which is significantly lower than QNXT's 12.56% return.
QLDY
- 1D
- -1.66%
- 1M
- -3.42%
- YTD
- 10.66%
- 6M
- 8.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QNXT
- 1D
- 0.11%
- 1M
- 1.95%
- YTD
- 12.56%
- 6M
- 11.13%
- 1Y
- 18.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QLDY vs. QNXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QLDY Defiance Nasdaq 100 LightningSpread Income ETF | 10.66% | 1.54% |
QNXT iShares Nasdaq-100 ex Top 30 ETF | 12.56% | 2.82% |
Correlation
The correlation between QLDY and QNXT is 0.81, 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 18, 2025 | 0.81 |
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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 | — | 1.21 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.88 | — |
| Martin ratioReturn relative to average drawdown | — | 5.99 | — |
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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 | -7.20% | -3.28% | -3.92% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -3.74% | -0.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.18% | — |
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 | — | 6.79% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 12.00% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 21.38% | 15.92% | +5.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.38% | 19.92% | +1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.38% | 19.92% | +1.46% |
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 24.62%, more than QNXT's 0.67% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QLDY Defiance Nasdaq 100 LightningSpread Income ETF | 24.62% | 9.34% | 0.00% |
QNXT iShares Nasdaq-100 ex Top 30 ETF | 0.67% | 0.64% | 0.22% |
Frequently Asked Questions
QLDY and QNXT have a correlation of 0.81, 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 24.62%, compared with 0.67% 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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