QQQY vs. ^IBEX
QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) is Nasdaq-100 fund actively managed by Defiance, while ^IBEX (IBEX 35 Index) is an index. Over the past year, QQQY returned 35.59% vs 31.83% for ^IBEX. At a 0.24 correlation, their price movements are largely independent.
Performance
QQQY vs. ^IBEX - Performance Comparison
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Different Trading Currencies
QQQY is traded in USD, while ^IBEX is traded in EUR. To make them comparable, the ^IBEX values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, QQQY achieves a 18.85% return, which is significantly higher than ^IBEX's 4.40% return.
QQQY
- 1D
- -0.19%
- 1M
- 7.95%
- YTD
- 18.85%
- 6M
- 18.67%
- 1Y
- 35.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
^IBEX
- 1D
- 0.67%
- 1M
- 2.73%
- YTD
- 4.40%
- 6M
- 8.83%
- 1Y
- 31.83%
- 3Y*
- 28.72%
- 5Y*
- 13.93%
- 10Y*
- 7.80%
QQQY vs. ^IBEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF | 18.85% | 14.96% | 7.70% | 7.22% |
^IBEX IBEX 35 Index | 4.40% | 69.32% | 7.68% | 9.71% |
Correlation
The correlation between QQQY and ^IBEX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | 0.24 |
The correlation between QQQY and ^IBEX shifts across timeframes, from 0.24 (all time) to 0.36 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QQQY vs. ^IBEX — Risk / Return Rank
QQQY
^IBEX
QQQY vs. ^IBEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and IBEX 35 Index (^IBEX). 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.
| QQQY | ^IBEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.31 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 2.72 | +0.48 |
| Martin ratioReturn relative to average drawdown | 13.65 | 8.71 | +4.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QQQY | ^IBEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.62 | 1.74 | +0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.69 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.25 | 0.01 | +1.24 |
Drawdowns
QQQY vs. ^IBEX - Drawdown Comparison
The maximum QQQY drawdown since its inception was -19.05%, smaller than the maximum ^IBEX drawdown of -71.44%. Use the drawdown chart below to compare losses from any high point for QQQY and ^IBEX.
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Drawdown Indicators
| QQQY | ^IBEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.05% | -71.44% | +52.39% |
Max Drawdown (1Y)Largest decline over 1 year | -11.14% | -11.37% | +0.23% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.25% | — |
Current DrawdownCurrent decline from peak | -0.55% | -9.30% | +8.75% |
Average DrawdownAverage peak-to-trough decline | -2.91% | -46.73% | +43.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 3.60% | -0.99% |
Volatility
QQQY vs. ^IBEX - Volatility Comparison
The current volatility for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) is 4.14%, while IBEX 35 Index (^IBEX) has a volatility of 5.06%. This indicates that QQQY experiences smaller price fluctuations and is considered to be less risky than ^IBEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQY | ^IBEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 5.06% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 11.30% | 14.76% | -3.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.66% | 17.76% | -4.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.74% | 19.63% | -4.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.74% | 20.76% | -6.02% |
Frequently Asked Questions
QQQY and ^IBEX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^IBEX has higher volatility (5.06%) compared to QQQY (4.14%). In terms of maximum drawdown, QQQY dropped -19.05% vs ^IBEX's -71.44%.
QQQY currently has the higher Sharpe Ratio (2.62 vs 1.74), 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.
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