QQQT vs. ULTY

Last updated Apr 2, 2026

Compare and contrast key facts about Defiance Nasdaq 100 Income Target ETF (QQQT) and YieldMax Ultra Option Income Strategy ETF (ULTY).

QQQT and ULTY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQQT is an actively managed fund by Defiance. It was launched on Jun 20, 2024. ULTY is an actively managed fund by YieldMax. It was launched on Feb 28, 2024.

Performance

QQQT vs. ULTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 Income Target ETF (QQQT) and YieldMax Ultra Option Income Strategy ETF (ULTY). The values are adjusted to include any dividend payments, if applicable.

QQQT vs. ULTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQT Defiance Nasdaq 100 Income Target ETF	-4.89%	14.04%	4.51%
ULTY YieldMax Ultra Option Income Strategy ETF	-3.10%	-0.84%	6.02%

Returns By Period

In the year-to-date period, QQQT achieves a -4.89% return, which is significantly lower than ULTY's -3.10% return.

QQQT

• 1D: 1.30%
• 1M: -3.45%
• YTD: -4.89%
• 6M: -4.59%
• 1Y: 17.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ULTY

• 1D: 0.63%
• 1M: -7.50%
• YTD: -3.10%
• 6M: -18.46%
• 1Y: 10.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQT vs. ULTY - Expense Ratio Comparison

QQQT has a 1.05% expense ratio, which is lower than ULTY's 1.14% expense ratio.

ULTY

YieldMax Ultra Option Income Strategy ETF

QQQT

Defiance Nasdaq 100 Income Target ETF

Return for Risk

QQQT vs. ULTY — Risk / Return Rank

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

QQQT

QQQT Risk / Return Rank: 49
QQQT Sharpe Ratio Rank: 42
QQQT Sortino Ratio Rank: 47
QQQT Omega Ratio Rank: 52
QQQT Calmar Ratio Rank: 54
QQQT Martin Ratio Rank: 49

ULTY

ULTY Risk / Return Rank: 23
ULTY Sharpe Ratio Rank: 23
ULTY Sortino Ratio Rank: 24
ULTY Omega Ratio Rank: 23
ULTY Calmar Ratio Rank: 23
ULTY Martin Ratio Rank: 20

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.

QQQT vs. ULTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 Income Target ETF (QQQT) and YieldMax Ultra Option Income Strategy ETF (ULTY). 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.

	QQQT	ULTY	Difference
Sharpe ratio Return per unit of total volatility	0.83	0.42	+0.40
Sortino ratio Return per unit of downside risk	1.34	0.74	+0.61
Omega ratio Gain probability vs. loss probability	1.20	1.09	+0.11
Calmar ratio Return relative to maximum drawdown	1.46	0.51	+0.95
Martin ratio Return relative to average drawdown	4.81	1.11	+3.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQT vs. ULTY - Sharpe Ratio Comparison

The current QQQT Sharpe Ratio is 0.83, which is higher than the ULTY Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of QQQT and ULTY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QQQT	ULTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	0.42	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	-0.06	+0.42

Correlation

The correlation between QQQT and ULTY is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QQQT vs. ULTY - Dividend Comparison

QQQT's dividend yield for the trailing twelve months is around 23.01%, less than ULTY's 133.15% yield.

	TTM	2025	2024
QQQT Defiance Nasdaq 100 Income Target ETF	23.01%	21.27%	10.35%
ULTY YieldMax Ultra Option Income Strategy ETF	133.15%	142.99%	111.70%

Drawdowns

QQQT vs. ULTY - Drawdown Comparison

The maximum QQQT drawdown since its inception was -22.50%, smaller than the maximum ULTY drawdown of -26.85%. Use the drawdown chart below to compare losses from any high point for QQQT and ULTY.

Drawdown Indicators

	QQQT	ULTY	Difference
Max Drawdown Largest peak-to-trough decline	-22.50%	-26.85%	+4.35%
Max Drawdown (1Y) Largest decline over 1 year	-12.73%	-24.16%	+11.43%
Current Drawdown Current decline from peak	-8.78%	-20.55%	+11.77%
Average Drawdown Average peak-to-trough decline	-4.26%	-9.06%	+4.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.87%	11.12%	-7.25%

Volatility

QQQT vs. ULTY - Volatility Comparison

The current volatility for Defiance Nasdaq 100 Income Target ETF (QQQT) is 6.36%, while YieldMax Ultra Option Income Strategy ETF (ULTY) has a volatility of 9.06%. This indicates that QQQT experiences smaller price fluctuations and is considered to be less risky than ULTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQT	ULTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.36%	9.06%	-2.70%
Volatility (6M) Calculated over the trailing 6-month period	11.87%	17.10%	-5.23%
Volatility (1Y) Calculated over the trailing 1-year period	21.51%	25.28%	-3.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.63%	27.62%	-6.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.63%	27.62%	-6.99%