QQQY vs. IWMY

Last updated Aug 5, 2026

QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) and IWMY (Defiance R2000 Weekly Distribution ETF) are both exchange-traded funds - QQQY is a Nasdaq-100 fund actively managed by Defiance, while IWMY is a Options Trading fund actively managed by Defiance. Both are actively managed. Over the past year, QQQY returned 25.95% vs 22.23% for IWMY. Their 0.66 correlation means they have sometimes moved together and sometimes differently. QQQY charges 0.99%/yr vs 1.05%/yr for IWMY.

Performance

QQQY vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and Defiance R2000 Weekly Distribution ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with QQQY having a 17.47% return and IWMY slightly lower at 17.15%.

QQQY

• 1D: 3.25%
• 1M: 1.46%
• 6M: 17.52%
• YTD: 17.47%
• 1Y: 25.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.61%

IWMY

• 1D: 1.63%
• 1M: 1.32%
• 6M: 11.80%
• YTD: 17.15%
• 1Y: 22.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.82%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IWMY Defiance R2000 Weekly Distribution ETF	$635.64K	$720.90K	$1.00M
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	$2.03M	$2.15M	$2.90M

QQQY vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	17.47%	14.96%	7.70%	11.49%
IWMY Defiance R2000 Weekly Distribution ETF	17.15%	10.18%	5.56%	10.06%

Correlation

The correlation between QQQY and IWMY is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (All Time) Calculated using the full available price history since Oct 31, 2023	0.66

The correlation between QQQY and IWMY has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.

Return for Risk

QQQY vs. IWMY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QQQY

QQQY Risk / Return Rank: 56
QQQY Sharpe Ratio Rank: 53
QQQY Sortino Ratio Rank: 51
QQQY Omega Ratio Rank: 55
QQQY Calmar Ratio Rank: 59
QQQY Martin Ratio Rank: 62

IWMY

IWMY Risk / Return Rank: 48
IWMY Sharpe Ratio Rank: 49
IWMY Sortino Ratio Rank: 47
IWMY Omega Ratio Rank: 46
IWMY Calmar Ratio Rank: 48
IWMY Martin Ratio Rank: 49

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QQQY vs. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and Defiance R2000 Weekly Distribution ETF (IWMY). 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.

	QQQY	IWMY	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.37	+0.11
Sortino ratio: Return per unit of downside risk	2.02	1.90	+0.12
Omega ratio: Gain probability vs. loss probability	1.27	1.24	+0.03
Calmar ratio: Return relative to maximum drawdown	2.34	1.93	+0.41
Martin ratio: Return relative to average drawdown	8.22	6.27	+1.95

QQQY vs. IWMY - Sharpe Ratio Comparison

The current QQQY Sharpe Ratio is 1.48, which is comparable to the IWMY Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of QQQY and IWMY, 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

QQQY vs. IWMY - Drawdown Comparison

The maximum QQQY drawdown since its inception was -19.05%, roughly equal to the maximum IWMY drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for QQQY and IWMY.

Drawdown Indicators

	QQQY	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-19.05%	-18.72%	-0.33%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-11.57%	+0.43%
Current Drawdown Current decline from peak	-1.71%	0.00%	-1.71%
Average Drawdown Average peak-to-trough decline	-2.96%	-2.88%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	3.56%	-0.39%

Volatility

QQQY vs. IWMY - Volatility Comparison

Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a higher volatility of 7.24% compared to Defiance R2000 Weekly Distribution ETF (IWMY) at 4.15%. This indicates that QQQY's price experiences larger fluctuations and is considered to be riskier than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQY	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.24%	4.15%	+3.09%
Volatility (6M) Calculated over the trailing 6-month period	15.55%	13.57%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	17.65%	16.38%	+1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.86%	15.82%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.86%	15.82%	+0.04%

QQQY vs. IWMY - Expense Ratio Comparison

QQQY has a 0.99% expense ratio, which is lower than IWMY's 1.05% expense ratio.

Dividends

QQQY vs. IWMY - Dividend Comparison

QQQY's dividend yield for the trailing twelve months is around 35.76%, less than IWMY's 40.50% yield.

Position	TTM	2025	2024	2023
IWMY Defiance R2000 Weekly Distribution ETF	40.50%	63.33%	107.92%	11.34%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	35.76%	45.34%	83.34%	20.64%

Frequently Asked Questions

Can I hold both QQQY and IWMY in my portfolio?

QQQY and IWMY have a correlation of 0.72, 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 IWMY?

QQQY has higher volatility (7.24%) compared to IWMY (4.15%). In terms of maximum drawdown, QQQY dropped -19.05% vs IWMY's -18.72%.

Which ETF is better, QQQY or IWMY?

On 1-year performance, QQQY leads with 25.95% vs 22.23% for IWMY. On fees, QQQY is cheaper at 0.99% per year. On volatility, IWMY has been the lower-risk option at 4.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQY or IWMY?

Over the 1-year period, QQQY has performed better with a 25.95% return vs 22.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQY or IWMY?

QQQY is cheaper with a 0.99% expense ratio, compared with 1.05% for IWMY.

Which ETF pays a higher dividend yield, QQQY or IWMY?

IWMY has the higher dividend yield at 40.50%, compared with 35.76% for QQQY.

What is the main difference between QQQY and IWMY?

QQQY is categorized as Nasdaq-100, while IWMY is Options Trading. Their fees differ too: 0.99% for QQQY and 1.05% for IWMY.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (1.48 vs 1.36), 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.