QQQY vs. FSK

Last updated Jun 9, 2026

QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) is Nasdaq-100 fund actively managed by Defiance, while FSK (FS KKR Capital Corp.) is a stock. Over the past year, QQQY returned 30.60% vs -40.83% for FSK. At a 0.31 correlation, their price movements are largely independent.

Performance

QQQY vs. FSK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and FS KKR Capital Corp. (FSK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQY achieves a 14.65% return, which is significantly higher than FSK's -24.63% return.

QQQY

• 1D: 1.28%
• 1M: -0.02%
• YTD: 14.65%
• 6M: 14.20%
• 1Y: 30.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FSK

• 1D: -0.56%
• 1M: -1.85%
• YTD: -24.63%
• 6M: -28.17%
• 1Y: -40.83%
• 3Y*: -5.35%
• 5Y*: -1.31%
• 10Y*: 2.27%

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

QQQY vs. FSK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	14.65%	14.96%	7.70%	7.19%
FSK FS KKR Capital Corp.	-24.63%	-20.38%	25.71%	4.41%

Correlation

The correlation between QQQY and FSK is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.31

Return for Risk

QQQY vs. FSK — Risk / Return Rank

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

QQQY

QQQY Risk / Return Rank: 68
QQQY Sharpe Ratio Rank: 72
QQQY Sortino Ratio Rank: 63
QQQY Omega Ratio Rank: 75
QQQY Calmar Ratio Rank: 61
QQQY Martin Ratio Rank: 69

FSK

FSK Risk / Return Rank: 6
FSK Sharpe Ratio Rank: 1
FSK Sortino Ratio Rank: 3
FSK Omega Ratio Rank: 3
FSK Calmar Ratio Rank: 11
FSK Martin Ratio Rank: 13

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.

QQQY vs. FSK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and FS KKR Capital Corp. (FSK). 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	FSK	Difference
Sharpe ratio: Return per unit of total volatility	2.12	-1.34	+3.45
Sortino ratio: Return per unit of downside risk	2.62	-1.92	+4.54
Omega ratio: Gain probability vs. loss probability	1.40	0.75	+0.65
Calmar ratio: Return relative to maximum drawdown	2.76	-0.80	+3.56
Martin ratio: Return relative to average drawdown	11.59	-1.26	+12.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQY vs. FSK - Sharpe Ratio Comparison

The current QQQY Sharpe Ratio is 2.12, which is higher than the FSK Sharpe Ratio of -1.34. The chart below compares the historical Sharpe Ratios of QQQY and FSK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QQQY	FSK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	-1.34	+3.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.05	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.09	+1.02

Drawdowns

QQQY vs. FSK - Drawdown Comparison

The maximum QQQY drawdown since its inception was -19.05%, smaller than the maximum FSK drawdown of -67.20%. Use the drawdown chart below to compare losses from any high point for QQQY and FSK.

Drawdown Indicators

	QQQY	FSK	Difference
Max Drawdown Largest peak-to-trough decline	-19.05%	-67.20%	+48.15%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-51.01%	+39.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-51.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-51.03%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-67.20%	—
Current Drawdown Current decline from peak	-4.06%	-45.83%	+41.77%
Average Drawdown Average peak-to-trough decline	-2.91%	-13.50%	+10.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	32.40%	-29.75%

Volatility

QQQY vs. FSK - Volatility Comparison

Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a higher volatility of 6.53% compared to FS KKR Capital Corp. (FSK) at 6.18%. This indicates that QQQY's price experiences larger fluctuations and is considered to be riskier than FSK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQY	FSK	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.53%	6.18%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	12.41%	26.52%	-14.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.55%	30.67%	-16.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.03%	24.07%	-9.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.03%	27.92%	-12.89%

Dividends

QQQY vs. FSK - Dividend Comparison

QQQY's dividend yield for the trailing twelve months is around 35.66%, more than FSK's 24.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSK FS KKR Capital Corp.	24.25%	18.91%	13.35%	14.77%	15.20%	11.80%	15.46%	12.40%	16.41%	11.68%	8.65%	9.91%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	35.66%	45.34%	83.34%	20.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQQY and FSK in my portfolio?

QQQY and FSK have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQY or FSK?

QQQY has higher volatility (6.53%) compared to FSK (6.18%). In terms of maximum drawdown, QQQY dropped -19.05% vs FSK's -67.20%.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (2.12 vs -1.34), 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.