QQHG vs. YMAX

Last updated Jun 25, 2026

QQHG (Invesco QQQ Hedged Advantage ETF) and YMAX (YieldMax Universe Fund of Option Income ETFs) are both exchange-traded funds - QQHG is a Equity Hedged fund actively managed by Invesco, while YMAX is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, QQHG returned 22.34% vs -1.11% for YMAX. A 0.79 correlation means they provide meaningful diversification when combined. QQHG charges 0.45%/yr vs 1.28%/yr for YMAX.

Performance

QQHG vs. YMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Hedged Advantage ETF (QQHG) and YieldMax Universe Fund of Option Income ETFs (YMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQHG achieves a 8.81% return, which is significantly higher than YMAX's -0.89% return.

QQHG

• 1D: -0.23%
• 1M: -0.12%
• YTD: 8.81%
• 6M: 7.73%
• 1Y: 22.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YMAX

• 1D: -1.64%
• 1M: -3.86%
• YTD: -0.89%
• 6M: -2.67%
• 1Y: -1.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQHG vs. YMAX - Yearly Performance Comparison

	2026 (YTD)	2025
QQHG Invesco QQQ Hedged Advantage ETF	8.81%	20.59%
YMAX YieldMax Universe Fund of Option Income ETFs	-0.89%	13.87%

Correlation

The correlation between QQHG and YMAX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since May 7, 2025	0.79

The correlation between QQHG and YMAX has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

Return for Risk

QQHG vs. YMAX — Risk / Return Rank

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

QQHG

QQHG Risk / Return Rank: 78
QQHG Sharpe Ratio Rank: 79
QQHG Sortino Ratio Rank: 77
QQHG Omega Ratio Rank: 78
QQHG Calmar Ratio Rank: 79
QQHG Martin Ratio Rank: 79

YMAX

YMAX Risk / Return Rank: 8
YMAX Sharpe Ratio Rank: 9
YMAX Sortino Ratio Rank: 8
YMAX Omega Ratio Rank: 8
YMAX Calmar Ratio Rank: 8
YMAX Martin Ratio Rank: 8

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.

QQHG vs. YMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Hedged Advantage ETF (QQHG) and YieldMax Universe Fund of Option Income ETFs (YMAX). 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.

	QQHG	YMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	-0.05	+2.27
Sortino ratio: Return per unit of downside risk	3.05	0.10	+2.95
Omega ratio: Gain probability vs. loss probability	1.40	1.01	+0.39
Calmar ratio: Return relative to maximum drawdown	3.63	-0.04	+3.67
Martin ratio: Return relative to average drawdown	13.63	-0.10	+13.73

QQHG vs. YMAX - Sharpe Ratio Comparison

The current QQHG Sharpe Ratio is 2.22, which is higher than the YMAX Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of QQHG and YMAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QQHG vs. YMAX - Drawdown Comparison

The maximum QQHG drawdown since its inception was -6.18%, smaller than the maximum YMAX drawdown of -26.13%. Use the drawdown chart below to compare losses from any high point for QQHG and YMAX.

Drawdown Indicators

	QQHG	YMAX	Difference
Max Drawdown Largest peak-to-trough decline	-6.18%	-26.13%	+19.95%
Max Drawdown (1Y) Largest decline over 1 year	-6.18%	-26.13%	+19.95%
Current Drawdown Current decline from peak	-2.60%	-12.13%	+9.53%
Average Drawdown Average peak-to-trough decline	-1.02%	-6.41%	+5.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	11.26%	-9.62%

Volatility

QQHG vs. YMAX - Volatility Comparison

The current volatility for Invesco QQQ Hedged Advantage ETF (QQHG) is 4.47%, while YieldMax Universe Fund of Option Income ETFs (YMAX) has a volatility of 11.05%. This indicates that QQHG experiences smaller price fluctuations and is considered to be less risky than YMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQHG	YMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	11.05%	-6.58%
Volatility (6M) Calculated over the trailing 6-month period	7.61%	19.68%	-12.07%
Volatility (1Y) Calculated over the trailing 1-year period	10.13%	23.61%	-13.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.10%	23.62%	-13.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.10%	23.62%	-13.52%

QQHG vs. YMAX - Expense Ratio Comparison

QQHG has a 0.45% expense ratio, which is lower than YMAX's 1.28% expense ratio.

Dividends

QQHG vs. YMAX - Dividend Comparison

QQHG's dividend yield for the trailing twelve months is around 0.26%, less than YMAX's 75.24% yield.

Position	TTM	2025	2024
QQHG Invesco QQQ Hedged Advantage ETF	0.26%	0.17%	0.00%
YMAX YieldMax Universe Fund of Option Income ETFs	75.24%	78.70%	44.20%

Frequently Asked Questions

Can I hold both QQHG and YMAX in my portfolio?

QQHG and YMAX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQHG or YMAX?

YMAX has higher volatility (11.05%) compared to QQHG (4.47%). In terms of maximum drawdown, QQHG dropped -6.18% vs YMAX's -26.13%.

Which ETF is better, QQHG or YMAX?

On 1-year performance, QQHG leads with 22.34% vs -1.11% for YMAX. On fees, QQHG is cheaper at 0.45% per year. On volatility, QQHG has been the lower-risk option at 4.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQHG or YMAX?

Over the 1-year period, QQHG has performed better with a 22.34% return vs -1.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQHG or YMAX?

QQHG is cheaper with a 0.45% expense ratio, compared with 1.28% for YMAX.

Which ETF pays a higher dividend yield, QQHG or YMAX?

YMAX has the higher dividend yield at 75.24%, compared with 0.26% for QQHG.

What is the main difference between QQHG and YMAX?

QQHG is categorized as Equity Hedged, while YMAX is Derivative Income. They also come from different issuers: Invesco and YieldMax. Their fees differ too: 0.45% for QQHG and 1.28% for YMAX.

Which has better risk-adjusted returns?

QQHG currently has the higher Sharpe Ratio (2.22 vs -0.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.