QQLV vs. YMAX

Last updated Jun 24, 2026

QQLV (Invesco QQQ Low Volatility ETF) and YMAX (YieldMax Universe Fund of Option Income ETFs) are both exchange-traded funds - QQLV is a Large Cap Blend Equities fund tracking the Nasdaq Low Volatility Index, while YMAX is a Derivative Income fund actively managed by YieldMax. QQLV is passively managed, while YMAX is actively managed. Over the past year, QQLV returned -0.14% vs 2.12% for YMAX. At a 0.19 correlation, their price movements are largely independent. QQLV charges 0.25%/yr vs 1.28%/yr for YMAX.

Performance

QQLV vs. YMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Low Volatility ETF (QQLV) 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, QQLV achieves a 2.18% return, which is significantly higher than YMAX's 0.77% return.

QQLV

• 1D: 0.70%
• 1M: -1.30%
• YTD: 2.18%
• 6M: 1.84%
• 1Y: -0.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YMAX

• 1D: -2.10%
• 1M: -2.26%
• YTD: 0.77%
• 6M: -1.20%
• 1Y: 2.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQLV vs. YMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQLV Invesco QQQ Low Volatility ETF	2.18%	4.19%	-5.60%
YMAX YieldMax Universe Fund of Option Income ETFs	0.77%	6.04%	-4.20%

Correlation

The correlation between QQLV and YMAX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	0.19

Return for Risk

QQLV vs. YMAX — Risk / Return Rank

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

QQLV

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

YMAX

YMAX Risk / Return Rank: 10
YMAX Sharpe Ratio Rank: 10
YMAX Sortino Ratio Rank: 10
YMAX Omega Ratio Rank: 10
YMAX Calmar Ratio Rank: 9
YMAX Martin Ratio Rank: 9

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.

QQLV vs. YMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Low Volatility ETF (QQLV) 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.

	QQLV	YMAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	0.09	-0.10
Sortino ratio: Return per unit of downside risk	0.05	0.28	-0.23
Omega ratio: Gain probability vs. loss probability	1.01	1.04	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.02	0.08	-0.10
Martin ratio: Return relative to average drawdown	-0.04	0.19	-0.23

QQLV vs. YMAX - Sharpe Ratio Comparison

The current QQLV Sharpe Ratio is -0.01, which is lower than the YMAX Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of QQLV 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

QQLV vs. YMAX - Drawdown Comparison

The maximum QQLV drawdown since its inception was -9.54%, smaller than the maximum YMAX drawdown of -26.13%. Use the drawdown chart below to compare losses from any high point for QQLV and YMAX.

Drawdown Indicators

	QQLV	YMAX	Difference
Max Drawdown Largest peak-to-trough decline	-9.54%	-26.13%	+16.59%
Max Drawdown (1Y) Largest decline over 1 year	-7.35%	-26.13%	+18.78%
Current Drawdown Current decline from peak	-3.38%	-10.66%	+7.28%
Average Drawdown Average peak-to-trough decline	-3.17%	-6.40%	+3.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	11.24%	-7.48%

Volatility

QQLV vs. YMAX - Volatility Comparison

The current volatility for Invesco QQQ Low Volatility ETF (QQLV) is 3.24%, while YieldMax Universe Fund of Option Income ETFs (YMAX) has a volatility of 10.94%. This indicates that QQLV 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

	QQLV	YMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.24%	10.94%	-7.70%
Volatility (6M) Calculated over the trailing 6-month period	7.52%	19.66%	-12.14%
Volatility (1Y) Calculated over the trailing 1-year period	10.34%	23.56%	-13.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.69%	23.61%	-10.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.69%	23.61%	-10.92%

QQLV vs. YMAX - Expense Ratio Comparison

QQLV has a 0.25% expense ratio, which is lower than YMAX's 1.28% expense ratio.

Dividends

QQLV vs. YMAX - Dividend Comparison

QQLV's dividend yield for the trailing twelve months is around 2.10%, less than YMAX's 74.01% yield.

Position	TTM	2025	2024
QQLV Invesco QQQ Low Volatility ETF	2.10%	1.84%	0.00%
YMAX YieldMax Universe Fund of Option Income ETFs	74.01%	78.70%	44.20%

Frequently Asked Questions

Can I hold both QQLV and YMAX in my portfolio?

QQLV and YMAX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQLV or YMAX?

YMAX has higher volatility (10.94%) compared to QQLV (3.24%). In terms of maximum drawdown, QQLV dropped -9.54% vs YMAX's -26.13%.

Which ETF is better, QQLV or YMAX?

On 1-year performance, YMAX leads with 2.12% vs -0.14% for QQLV. On fees, QQLV is cheaper at 0.25% per year. On volatility, QQLV has been the lower-risk option at 3.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQLV or YMAX?

Over the 1-year period, YMAX has performed better with a 2.12% return vs -0.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQLV or YMAX?

QQLV is cheaper with a 0.25% expense ratio, compared with 1.28% for YMAX.

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

YMAX has the higher dividend yield at 74.01%, compared with 2.10% for QQLV.

What is the main difference between QQLV and YMAX?

QQLV is categorized as Large Cap Blend Equities, while YMAX is Derivative Income. They also come from different issuers: Invesco and YieldMax. Their fees differ too: 0.25% for QQLV and 1.28% for YMAX.

Which has better risk-adjusted returns?

YMAX currently has the higher Sharpe Ratio (0.09 vs -0.01), 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.