QQQY vs. QDTE

Last updated Jun 20, 2026

QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - QQQY is a Nasdaq-100 fund actively managed by Defiance, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, QQQY returned 34.32% vs 38.71% for QDTE. Their correlation of 0.92 suggests significant overlap in exposure. QQQY charges 0.99%/yr vs 0.97%/yr for QDTE.

Performance

QQQY vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). 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 QDTE's 16.27% return.

QQQY

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

QDTE

• 1D: 2.14%
• 1M: 3.65%
• YTD: 16.27%
• 6M: 16.48%
• 1Y: 38.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQY vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	18.54%	14.96%	5.26%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	16.27%	19.32%	17.13%

Correlation

The correlation between QQQY and QDTE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.92

The correlation between QQQY and QDTE has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

QQQY vs. QDTE — 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

QDTE

QDTE Risk / Return Rank: 77
QDTE Sharpe Ratio Rank: 79
QDTE Sortino Ratio Rank: 71
QDTE Omega Ratio Rank: 77
QDTE Calmar Ratio Rank: 78
QDTE Martin Ratio Rank: 80

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. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). 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	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.38	-0.14
Sortino ratio: Return per unit of downside risk	2.83	3.01	-0.18
Omega ratio: Gain probability vs. loss probability	1.42	1.42	0.00
Calmar ratio: Return relative to maximum drawdown	3.09	3.81	-0.72
Martin ratio: Return relative to average drawdown	12.62	14.80	-2.18

QQQY vs. QDTE - Sharpe Ratio Comparison

The current QQQY Sharpe Ratio is 2.24, which is comparable to the QDTE Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of QQQY and QDTE, 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. QDTE - Drawdown Comparison

The maximum QQQY drawdown since its inception was -19.05%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for QQQY and QDTE.

Drawdown Indicators

	QQQY	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-19.05%	-22.86%	+3.81%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-10.20%	-0.94%
Current Drawdown Current decline from peak	-0.80%	-0.42%	-0.38%
Average Drawdown Average peak-to-trough decline	-2.91%	-3.13%	+0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.62%	+0.11%

Volatility

QQQY vs. QDTE - Volatility Comparison

Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) have volatilities of 7.93% and 7.92%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQY	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.93%	7.92%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	13.38%	13.10%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	15.42%	16.35%	-0.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.29%	18.89%	-3.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.29%	18.89%	-3.60%

QQQY vs. QDTE - Expense Ratio Comparison

QQQY has a 0.99% expense ratio, which is higher than QDTE's 0.97% expense ratio.

Dividends

QQQY vs. QDTE - Dividend Comparison

QQQY's dividend yield for the trailing twelve months is around 34.44%, less than QDTE's 42.84% yield.

Position	TTM	2025	2024	2023
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	42.84%	49.49%	32.09%	0.00%
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 QDTE in my portfolio?

With a correlation of 0.93, QQQY and QDTE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QQQY or QDTE?

QQQY has higher volatility (7.93%) compared to QDTE (7.92%). In terms of maximum drawdown, QQQY dropped -19.05% vs QDTE's -22.86%.

Which ETF is better, QQQY or QDTE?

On 1-year performance, QDTE leads with 38.71% vs 34.32% for QQQY. On fees, QDTE is cheaper at 0.97% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQY or QDTE?

Over the 1-year period, QDTE has performed better with a 38.71% 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 QDTE?

QDTE is cheaper with a 0.97% expense ratio, compared with 0.99% for QQQY.

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

QDTE has the higher dividend yield at 42.84%, compared with 34.44% for QQQY.

What is the main difference between QQQY and QDTE?

QQQY is categorized as Nasdaq-100, while QDTE is Derivative Income. They also come from different issuers: Defiance and Roundhill. Their fees differ too: 0.99% for QQQY and 0.97% for QDTE.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.38 vs 2.24), 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.