QQQM vs. XDTE

Last updated Jun 28, 2026

QQQM (Invesco NASDAQ 100 ETF) and XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) are both exchange-traded funds - QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while XDTE is a Derivative Income fund actively managed by Roundhill. QQQM is passively managed, while XDTE is actively managed. Over the past year, QQQM returned 29.62% vs 18.93% for XDTE. Their correlation of 0.92 suggests significant overlap in exposure. QQQM charges 0.15%/yr vs 0.97%/yr for XDTE.

Performance

QQQM vs. XDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ 100 ETF (QQQM) and Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQM achieves a 15.33% return, which is significantly higher than XDTE's 6.55% return.

QQQM

• 1D: -1.33%
• 1M: -4.17%
• YTD: 15.33%
• 6M: 13.55%
• 1Y: 29.62%
• 3Y*: 25.57%
• 5Y*: 15.90%
• 10Y*: —

XDTE

• 1D: -0.49%
• 1M: -2.38%
• YTD: 6.55%
• 6M: 5.39%
• 1Y: 18.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQM vs. XDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQM Invesco NASDAQ 100 ETF	15.33%	20.85%	17.25%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	6.55%	12.60%	17.12%

Correlation

The correlation between QQQM and XDTE is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.92

The correlation between QQQM and XDTE has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

QQQM vs. XDTE - Sectors Allocation Comparison

Sectors	QQQM	XDTE
Technology	58.7%	39.0%
Communication Services	14.3%	10.6%
Consumer Cyclical	11.4%	9.9%
Consumer Defensive	6.4%	4.5%
Healthcare	3.7%	8.3%
Industrials	2.6%	7.8%
Utilities	1.2%	2.1%
Basic Materials	1.0%	1.7%
Energy	0.5%	3.1%
Financial Services	0.2%	11.1%
Real Estate	0.1%	1.8%

Return for Risk

QQQM vs. XDTE — Risk / Return Rank

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

QQQM

QQQM Risk / Return Rank: 55
QQQM Sharpe Ratio Rank: 56
QQQM Sortino Ratio Rank: 51
QQQM Omega Ratio Rank: 53
QQQM Calmar Ratio Rank: 58
QQQM Martin Ratio Rank: 58

XDTE

XDTE Risk / Return Rank: 59
XDTE Sharpe Ratio Rank: 57
XDTE Sortino Ratio Rank: 53
XDTE Omega Ratio Rank: 56
XDTE Calmar Ratio Rank: 59
XDTE Martin Ratio Rank: 68

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.

QQQM vs. XDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) and Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE). 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.

	QQQM	XDTE	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.71	-0.01
Sortino ratio: Return per unit of downside risk	2.26	2.30	-0.04
Omega ratio: Gain probability vs. loss probability	1.30	1.31	-0.01
Calmar ratio: Return relative to maximum drawdown	2.53	2.56	-0.03
Martin ratio: Return relative to average drawdown	9.24	11.06	-1.82

QQQM vs. XDTE - Sharpe Ratio Comparison

The current QQQM Sharpe Ratio is 1.69, which is comparable to the XDTE Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of QQQM and XDTE, 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

QQQM vs. XDTE - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, which is greater than XDTE's maximum drawdown of -19.09%. Use the drawdown chart below to compare losses from any high point for QQQM and XDTE.

Drawdown Indicators

	QQQM	XDTE	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	-19.09%	-15.95%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-7.68%	-4.28%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	—	—
Current Drawdown Current decline from peak	-5.19%	-2.73%	-2.46%
Average Drawdown Average peak-to-trough decline	-8.19%	-2.31%	-5.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	1.77%	+1.49%

Volatility

QQQM vs. XDTE - Volatility Comparison

Invesco NASDAQ 100 ETF (QQQM) has a higher volatility of 8.93% compared to Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) at 4.46%. This indicates that QQQM's price experiences larger fluctuations and is considered to be riskier than XDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQM	XDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.93%	4.46%	+4.47%
Volatility (6M) Calculated over the trailing 6-month period	14.47%	9.06%	+5.41%
Volatility (1Y) Calculated over the trailing 1-year period	17.84%	11.53%	+6.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.54%	13.94%	+8.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.29%	13.94%	+8.35%

QQQM vs. XDTE - Expense Ratio Comparison

QQQM has a 0.15% expense ratio, which is lower than XDTE's 0.97% expense ratio.

Dividends

QQQM vs. XDTE - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.45%, less than XDTE's 33.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
QQQM Invesco NASDAQ 100 ETF	0.45%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.50%	39.16%	20.35%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQQM and XDTE in my portfolio?

With a correlation of 0.92, QQQM and XDTE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QQQM or XDTE?

QQQM has higher volatility (8.93%) compared to XDTE (4.46%). In terms of maximum drawdown, QQQM dropped -35.04% vs XDTE's -19.09%.

Which ETF is better, QQQM or XDTE?

On 1-year performance, QQQM leads with 29.62% vs 18.93% for XDTE. On fees, QQQM is cheaper at 0.15% per year. On volatility, XDTE has been the lower-risk option at 4.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQM or XDTE?

Over the 1-year period, QQQM has performed better with a 29.62% return vs 18.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQM or XDTE?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.97% for XDTE.

Which ETF pays a higher dividend yield, QQQM or XDTE?

XDTE has the higher dividend yield at 33.50%, compared with 0.45% for QQQM.

What is the main difference between QQQM and XDTE?

QQQM is categorized as Nasdaq-100, while XDTE is Derivative Income. They also come from different issuers: Invesco and Roundhill. Their fees differ too: 0.15% for QQQM and 0.97% for XDTE.

Which has better risk-adjusted returns?

XDTE currently has the higher Sharpe Ratio (1.71 vs 1.69), 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.