QQQY vs. USHY

Last updated Jun 13, 2026

QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both exchange-traded funds - QQQY is a Nasdaq-100 fund actively managed by Defiance, while USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index. QQQY is actively managed, while USHY is passively managed. Over the past year, QQQY returned 29.70% vs 6.90% for USHY. A 0.57 correlation means they provide meaningful diversification when combined. QQQY charges 0.99%/yr vs 0.15%/yr for USHY.

Performance

QQQY vs. USHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and iShares Broad USD High Yield Corporate Bond ETF (USHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQY achieves a 15.43% return, which is significantly higher than USHY's 1.75% return.

QQQY

• 1D: 0.55%
• 1M: 0.32%
• YTD: 15.43%
• 6M: 15.99%
• 1Y: 29.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USHY

• 1D: 0.03%
• 1M: 0.59%
• YTD: 1.75%
• 6M: 2.37%
• 1Y: 6.90%
• 3Y*: 8.94%
• 5Y*: 4.21%
• 10Y*: —

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

QQQY vs. USHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	15.43%	14.96%	7.70%	7.19%
USHY iShares Broad USD High Yield Corporate Bond ETF	1.75%	8.81%	8.45%	5.63%

Correlation

The correlation between QQQY and USHY is 0.64, 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	0.64
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.57

The correlation between QQQY and USHY has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.

Return for Risk

QQQY vs. USHY — 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: 71
QQQY Sortino Ratio Rank: 63
QQQY Omega Ratio Rank: 74
QQQY Calmar Ratio Rank: 61
QQQY Martin Ratio Rank: 69

USHY

USHY Risk / Return Rank: 71
USHY Sharpe Ratio Rank: 66
USHY Sortino Ratio Rank: 73
USHY Omega Ratio Rank: 71
USHY Calmar Ratio Rank: 65
USHY Martin Ratio Rank: 77

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. USHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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	USHY	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.88	+0.12
Sortino ratio: Return per unit of downside risk	2.52	2.83	-0.30
Omega ratio: Gain probability vs. loss probability	1.38	1.36	+0.01
Calmar ratio: Return relative to maximum drawdown	2.68	2.85	-0.18
Martin ratio: Return relative to average drawdown	10.96	12.77	-1.81

QQQY vs. USHY - Sharpe Ratio Comparison

The current QQQY Sharpe Ratio is 2.00, which is comparable to the USHY Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of QQQY and USHY, 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. USHY - Drawdown Comparison

The maximum QQQY drawdown since its inception was -19.05%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for QQQY and USHY.

Drawdown Indicators

	QQQY	USHY	Difference
Max Drawdown Largest peak-to-trough decline	-19.05%	-22.44%	+3.39%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-2.43%	-8.71%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.56%	—
Current Drawdown Current decline from peak	-3.41%	0.00%	-3.41%
Average Drawdown Average peak-to-trough decline	-2.92%	-2.66%	-0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	0.54%	+2.18%

Volatility

QQQY vs. USHY - Volatility Comparison

Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a higher volatility of 7.00% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.20%. This indicates that QQQY's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQY	USHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.00%	1.20%	+5.80%
Volatility (6M) Calculated over the trailing 6-month period	12.87%	2.96%	+9.91%
Volatility (1Y) Calculated over the trailing 1-year period	14.92%	3.69%	+11.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.12%	7.35%	+7.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.12%	8.24%	+6.88%

QQQY vs. USHY - Expense Ratio Comparison

QQQY has a 0.99% expense ratio, which is higher than USHY's 0.15% expense ratio.

Dividends

QQQY vs. USHY - Dividend Comparison

QQQY's dividend yield for the trailing twelve months is around 35.39%, more than USHY's 6.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	35.39%	45.34%	83.34%	20.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USHY iShares Broad USD High Yield Corporate Bond ETF	6.90%	6.79%	6.89%	6.63%	6.08%	5.07%	5.30%	5.92%	6.30%	0.73%

Frequently Asked Questions

Can I hold both QQQY and USHY in my portfolio?

QQQY and USHY have a correlation of 0.64, 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 USHY?

QQQY has higher volatility (7.00%) compared to USHY (1.20%). In terms of maximum drawdown, QQQY dropped -19.05% vs USHY's -22.44%.

Which ETF is better, QQQY or USHY?

On 1-year performance, QQQY leads with 29.70% vs 6.90% for USHY. On fees, USHY is cheaper at 0.15% per year. On volatility, USHY has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQY or USHY?

Over the 1-year period, QQQY has performed better with a 29.70% return vs 6.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQY or USHY?

USHY is cheaper with a 0.15% expense ratio, compared with 0.99% for QQQY.

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

QQQY has the higher dividend yield at 35.39%, compared with 6.90% for USHY.

What is the main difference between QQQY and USHY?

QQQY is categorized as Nasdaq-100, while USHY is High Yield Bonds. They also come from different issuers: Defiance and iShares. Their fees differ too: 0.99% for QQQY and 0.15% for USHY.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (2.00 vs 1.88), 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.