QLDY vs. USD

Last updated Jun 4, 2026

QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - QLDY is a Nasdaq-100 fund actively managed by Defiance, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). QLDY is actively managed, while USD is passively managed. Their correlation of 0.81 suggests significant overlap in exposure. QLDY charges 1.04%/yr vs 0.95%/yr for USD.

Performance

QLDY vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and ProShares Ultra Semiconductors (USD). 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 lower than USD's 114.00% return.

QLDY

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

USD

• 1D: -1.14%
• 1M: 44.53%
• YTD: 114.00%
• 6M: 111.06%
• 1Y: 274.62%
• 3Y*: 127.67%
• 5Y*: 69.52%
• 10Y*: 62.16%

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

QLDY vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	19.28%	1.50%
USD ProShares Ultra Semiconductors	114.00%	12.17%

Correlation

The correlation between QLDY and USD 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 19, 2025	0.81

Return for Risk

QLDY vs. USD — Risk / Return Rank

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

USD

USD Risk / Return Rank: 90
USD Sharpe Ratio Rank: 97
USD Sortino Ratio Rank: 83
USD Omega Ratio Rank: 83
USD Calmar Ratio Rank: 95
USD Martin Ratio Rank: 93

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. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and ProShares Ultra Semiconductors (USD). 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	USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.53	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.91	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	0.49	+1.11

Drawdowns

QLDY vs. USD - Drawdown Comparison

The maximum QLDY drawdown since its inception was -17.44%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for QLDY and USD.

Drawdown Indicators

	QLDY	USD	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-88.63%	+71.19%
Max Drawdown (1Y) Largest decline over 1 year	—	-31.80%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-64.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-77.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.85%	—
Current Drawdown Current decline from peak	0.00%	-1.14%	+1.14%
Average Drawdown Average peak-to-trough decline	-4.25%	-32.35%	+28.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.97%	—

Volatility

Volatility by Period

	QLDY	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.36%	—
Volatility (6M) Calculated over the trailing 6-month period	—	46.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.57%	61.22%	-41.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.57%	76.55%	-56.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	69.23%	-49.66%

QLDY vs. USD - Expense Ratio Comparison

QLDY has a 1.04% expense ratio, which is higher than USD's 0.95% expense ratio.

Dividends

QLDY vs. USD - Dividend Comparison

QLDY's dividend yield for the trailing twelve months is around 21.47%, more than USD's 0.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	21.47%	9.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.21%	0.39%	0.10%	0.05%	0.30%	0.00%	0.14%	0.72%	0.93%	0.32%	0.46%	0.39%

Frequently Asked Questions

Can I hold both QLDY and USD in my portfolio?

QLDY and USD 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.

Which ETF is better, QLDY or USD?

On fees, USD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QLDY or USD?

USD is cheaper with a 0.95% expense ratio, compared with 1.04% for QLDY.

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

QLDY has the higher dividend yield at 21.47%, compared with 0.21% for USD.

What is the main difference between QLDY and USD?

QLDY is categorized as Nasdaq-100, while USD is Leveraged Equities. They also come from different issuers: Defiance and ProShares. Their fees differ too: 1.04% for QLDY and 0.95% for USD.