QQQY vs. IWMY

Last updated Apr 2, 2026

Compare and contrast key facts about Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY).

QQQY and IWMY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQQY is an actively managed fund by Defiance. It was launched on Sep 13, 2023. IWMY is a passively managed fund by Defiance that tracks the performance of the Russell 2000 Index. It was launched on Oct 30, 2023.

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 Enhanced Options & 0DTE Income ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

QQQY vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	-4.82%	14.96%	7.70%	10.82%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	-0.96%	10.18%	5.56%	9.74%

Returns By Period

In the year-to-date period, QQQY achieves a -4.82% return, which is significantly lower than IWMY's -0.96% return.

QQQY

• 1D: 1.19%
• 1M: -3.30%
• YTD: -4.82%
• 6M: -3.93%
• 1Y: 14.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: 0.61%
• 1M: -5.59%
• YTD: -0.96%
• 6M: -5.14%
• 1Y: 12.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQY vs. IWMY - Expense Ratio Comparison

Both QQQY and IWMY have an expense ratio of 0.99%.

QQQY

Defiance Nasdaq 100 Enhanced Options Income ETF

IWMY

Defiance R2000 Enhanced Options & 0DTE Income ETF

Return for Risk

QQQY vs. IWMY — Risk / Return Rank

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

QQQY

QQQY Risk / Return Rank: 47
QQQY Sharpe Ratio Rank: 48
QQQY Sortino Ratio Rank: 39
QQQY Omega Ratio Rank: 45
QQQY Calmar Ratio Rank: 54
QQQY Martin Ratio Rank: 48

IWMY

IWMY Risk / Return Rank: 33
IWMY Sharpe Ratio Rank: 34
IWMY Sortino Ratio Rank: 31
IWMY Omega Ratio Rank: 31
IWMY Calmar Ratio Rank: 36
IWMY Martin Ratio Rank: 33

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. 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 Enhanced Options & 0DTE Income 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.

	QQQY	IWMY	Difference
Sharpe ratio Return per unit of total volatility	0.91	0.68	+0.23
Sortino ratio Return per unit of downside risk	1.16	0.95	+0.21
Omega ratio Gain probability vs. loss probability	1.18	1.13	+0.05
Calmar ratio Return relative to maximum drawdown	1.44	0.97	+0.47
Martin ratio Return relative to average drawdown	4.79	3.02	+1.77
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. IWMY - Sharpe Ratio Comparison

The current QQQY Sharpe Ratio is 0.91, which is higher than the IWMY Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of QQQY and IWMY, 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

	QQQY	IWMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	0.68	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.66	0.00

Correlation

The correlation between QQQY and IWMY is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

QQQY vs. IWMY - Dividend Comparison

QQQY's dividend yield for the trailing twelve months is around 44.97%, less than IWMY's 57.52% yield.

	TTM	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	44.97%	45.34%	83.34%	20.64%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	57.52%	63.33%	107.92%	11.34%

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	-11.30%	-12.55%	+1.25%
Current Drawdown Current decline from peak	-7.05%	-7.98%	+0.93%
Average Drawdown Average peak-to-trough decline	-3.04%	-3.07%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	4.04%	-0.64%

Volatility

QQQY vs. IWMY - Volatility Comparison

The current volatility for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) is 6.38%, while Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) has a volatility of 7.26%. This indicates that QQQY experiences smaller price fluctuations and is considered to be less risky 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	6.38%	7.26%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	11.21%	12.32%	-1.11%
Volatility (1Y) Calculated over the trailing 1-year period	16.45%	17.74%	-1.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.68%	15.62%	-0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.68%	15.62%	-0.94%