QLDY vs. SPYT

Last updated Jul 17, 2026

QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) and SPYT (Defiance S&P 500 Income Target ETF) are both exchange-traded funds - QLDY is a Nasdaq-100 fund actively managed by Defiance, while SPYT is a Derivative Income fund actively managed by Defiance. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. QLDY charges 1.04%/yr vs 0.87%/yr for SPYT.

Performance

QLDY vs. SPYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Defiance S&P 500 Income Target ETF (SPYT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with QLDY having a 9.82% return and SPYT slightly lower at 9.71%.

QLDY

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

SPYT

• 1D: -0.32%
• 1M: 0.61%
• 6M: 8.41%
• YTD: 9.71%
• 1Y: 18.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLDY vs. SPYT - Yearly Performance Comparison

	2026 (YTD)	2025
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	9.82%	1.54%
SPYT Defiance S&P 500 Income Target ETF	9.71%	2.51%

Correlation

The correlation between QLDY and SPYT is 0.89, 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	0.89

Return for Risk

QLDY vs. SPYT — Risk / Return Rank

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

QLDY

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

SPYT

SPYT Risk / Return Rank: 63
SPYT Sharpe Ratio Rank: 61
SPYT Sortino Ratio Rank: 58
SPYT Omega Ratio Rank: 67
SPYT Calmar Ratio Rank: 58
SPYT Martin Ratio Rank: 70

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. SPYT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Defiance S&P 500 Income Target ETF (SPYT). 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	SPYT	Difference
Sharpe ratio: Return per unit of total volatility	—	1.62	—
Sortino ratio: Return per unit of downside risk	—	2.24	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	2.33	—
Martin ratio: Return relative to average drawdown	—	10.10	—

Drawdowns

QLDY vs. SPYT - Drawdown Comparison

The maximum QLDY drawdown since its inception was -17.44%, roughly equal to the maximum SPYT drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for QLDY and SPYT.

Drawdown Indicators

	QLDY	SPYT	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-18.25%	+0.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.00%	—
Current Drawdown Current decline from peak	-7.90%	-0.66%	-7.24%
Average Drawdown Average peak-to-trough decline	-4.35%	-1.98%	-2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.84%	—

Volatility

Volatility by Period

	QLDY	SPYT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.84%	11.49%	+10.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.84%	14.75%	+7.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.84%	14.75%	+7.09%

QLDY vs. SPYT - Expense Ratio Comparison

QLDY has a 1.04% expense ratio, which is higher than SPYT's 0.87% expense ratio.

Dividends

QLDY vs. SPYT - Dividend Comparison

QLDY's dividend yield for the trailing twelve months is around 28.28%, more than SPYT's 20.97% yield.

Position	TTM	2025	2024
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	28.28%	9.34%	0.00%
SPYT Defiance S&P 500 Income Target ETF	20.97%	21.40%	17.37%

Frequently Asked Questions

Can I hold both QLDY and SPYT in my portfolio?

QLDY and SPYT have a correlation of 0.89, 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 SPYT?

On fees, SPYT is cheaper at 0.87% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QLDY or SPYT?

SPYT is cheaper with a 0.87% expense ratio, compared with 1.04% for QLDY.

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

QLDY has the higher dividend yield at 28.28%, compared with 20.97% for SPYT.

What is the main difference between QLDY and SPYT?

QLDY is categorized as Nasdaq-100, while SPYT is Derivative Income. Their fees differ too: 1.04% for QLDY and 0.87% for SPYT.