QQQY vs. NVDY

Last updated Jun 20, 2026

QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - QQQY is a Nasdaq-100 fund actively managed by Defiance, while NVDY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, QQQY returned 34.32% vs 38.93% for NVDY. A 0.67 correlation means they provide meaningful diversification when combined. Both charge a 0.99% expense ratio.

Performance

QQQY vs. NVDY - Performance Comparison

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

Returns By Period

In the year-to-date period, QQQY achieves a 18.54% return, which is significantly higher than NVDY's 11.48% return.

QQQY

• 1D: 2.23%
• 1M: 3.07%
• YTD: 18.54%
• 6M: 18.12%
• 1Y: 34.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDY

• 1D: 1.89%
• 1M: -4.04%
• YTD: 11.48%
• 6M: 14.39%
• 1Y: 38.93%
• 3Y*: 52.53%
• 5Y*: —
• 10Y*: —

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

QQQY vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	18.54%	14.96%	7.70%	7.19%
NVDY YieldMax NVDA Option Income Strategy ETF	11.48%	27.38%	114.23%	7.32%

Correlation

The correlation between QQQY and NVDY is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.67

The correlation between QQQY and NVDY has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

Return for Risk

QQQY vs. NVDY — Risk / Return Rank

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

QQQY

QQQY Risk / Return Rank: 70
QQQY Sharpe Ratio Rank: 74
QQQY Sortino Ratio Rank: 64
QQQY Omega Ratio Rank: 77
QQQY Calmar Ratio Rank: 65
QQQY Martin Ratio Rank: 71

NVDY

NVDY Risk / Return Rank: 45
NVDY Sharpe Ratio Rank: 41
NVDY Sortino Ratio Rank: 39
NVDY Omega Ratio Rank: 38
NVDY Calmar Ratio Rank: 64
NVDY Martin Ratio Rank: 45

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. NVDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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	NVDY	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.39	+0.84
Sortino ratio: Return per unit of downside risk	2.83	1.92	+0.92
Omega ratio: Gain probability vs. loss probability	1.42	1.24	+0.18
Calmar ratio: Return relative to maximum drawdown	3.09	3.05	+0.04
Martin ratio: Return relative to average drawdown	12.62	7.04	+5.58

QQQY vs. NVDY - Sharpe Ratio Comparison

The current QQQY Sharpe Ratio is 2.24, which is higher than the NVDY Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of QQQY and NVDY, 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. NVDY - Drawdown Comparison

The maximum QQQY drawdown since its inception was -19.05%, smaller than the maximum NVDY drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for QQQY and NVDY.

Drawdown Indicators

	QQQY	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-19.05%	-34.08%	+15.03%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-12.81%	+1.67%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.08%	—
Current Drawdown Current decline from peak	-0.80%	-7.97%	+7.17%
Average Drawdown Average peak-to-trough decline	-2.91%	-6.19%	+3.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	5.54%	-2.81%

Volatility

QQQY vs. NVDY - Volatility Comparison

The current volatility for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) is 7.93%, while YieldMax NVDA Option Income Strategy ETF (NVDY) has a volatility of 9.77%. This indicates that QQQY experiences smaller price fluctuations and is considered to be less risky than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQY	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.93%	9.77%	-1.84%
Volatility (6M) Calculated over the trailing 6-month period	13.38%	21.68%	-8.30%
Volatility (1Y) Calculated over the trailing 1-year period	15.42%	28.13%	-12.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.29%	38.18%	-22.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.29%	38.18%	-22.89%

QQQY vs. NVDY - Expense Ratio Comparison

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

Dividends

QQQY vs. NVDY - Dividend Comparison

QQQY's dividend yield for the trailing twelve months is around 34.44%, less than NVDY's 66.89% yield.

Position	TTM	2025	2024	2023
NVDY YieldMax NVDA Option Income Strategy ETF	66.89%	83.10%	83.65%	22.32%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	34.44%	45.34%	83.34%	20.64%

Frequently Asked Questions

Can I hold both QQQY and NVDY in my portfolio?

QQQY and NVDY have a correlation of 0.62, 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 NVDY?

NVDY has higher volatility (9.77%) compared to QQQY (7.93%). In terms of maximum drawdown, QQQY dropped -19.05% vs NVDY's -34.08%.

Which ETF is better, QQQY or NVDY?

On 1-year performance, NVDY leads with 38.93% vs 34.32% for QQQY. Both ETFs have the same 0.99% expense ratio. On volatility, QQQY has been the lower-risk option at 7.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQY or NVDY?

Over the 1-year period, NVDY has performed better with a 38.93% return vs 34.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQY or NVDY?

QQQY and NVDY have the same expense ratio: 0.99% per year.

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

NVDY has the higher dividend yield at 66.89%, compared with 34.44% for QQQY.

What is the main difference between QQQY and NVDY?

QQQY is categorized as Nasdaq-100, while NVDY is Derivative Income. They also come from different issuers: Defiance and YieldMax.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (2.24 vs 1.39), 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.